Common use of Conveyancing and Stock Assumption Instruments Clause in Contracts

Conveyancing and Stock Assumption Instruments. In connection with the asset and stock transfers and the assumptions of Liabilities contemplated by this Agreement, the parties shall execute, or cause to be executed by the appropriate entities, conveyancing and assumption instruments, including appropriate releases and novations, in such forms as the parties shall reasonably agree, including deeds as may be appropriate, the assignment of trademarks and franchise rights, and the assignment and assumption of existing lease agreements. Any transfer of capital stock shall be effected by means of delivery of stock certificates and executed stock powers and notation on the stock record books of the corporations, or other legal entities involved and, to the extent required by applicable law, by notation on public registries.

Conveyancing and Stock Assumption Instruments. In connection with the asset and stock transfers and the assumptions of Liabilities contemplated by this Agreement, the parties shall execute, execute or cause to be executed by the appropriate entities, entities conveyancing and assumption instruments, including using reasonable efforts to obtain from third-parties appropriate releases and novations, in such forms as the parties shall reasonably agree, including deeds as may be appropriate, the assignment of trademarks and franchise rights, and the assignment and assumption of existing lease agreements. Any transfer of capital stock shall be effected by means of delivery of stock certificates and executed stock powers and notation on the stock record books of the corporations, corporation or other legal entities involved and, to the extent required by applicable law, by notation on public registries.