Equipment Located in Mexico under Temporary Importation Customs Regime Sample Clauses

Equipment Located in Mexico under Temporary Importation Customs Regime. The Acquired Assets located in Mexico under temporary importation customs regime (hereinafter the "Maquiladora Assets") shall be transferred, from a customs standpoint, from Carplastic's IMMEX program to Mexico Buyer's IMMEX program (hereinafter the "Virtual Customs Transfer"). For that effect, Buyer and Seller shall reasonably cooperate to cause the Virtual Customs Transfer of the Maquiladora Assets to take place and become legally effective as of the Closing Date. In the event that Buyer and Seller mutually agree that it is commercially infeasible for the Virtual Customs Transfer of any of the Maquiladora Assets to take place and become legally effective as of the Closing Date, such Virtual Customs Transfer for such assets (the "Retained Title Assets") shall take place and become legally effective at 16:00 p.m. Central time on such other date as Buyer and Seller may determine, but in no event later than thirty (30) business days after the date on which the conditions specified below have been satisfied or waived: (i) Mexico Buyer is validly existing and has all necessary corporate power and authority to carry out the Virtual Customs Transfer; (ii) Mexico Buyer has obtained all Permits required under Mexican Law for the Virtual Customs Trasnfer; and (iii) Seller has delivered to Buyer the information necessary to effect the Virtual Customs Transfer. The foregoing actions and all Virtual Customs Transfers shall be completed at Buyer's sole cost and expense.
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Related to Equipment Located in Mexico under Temporary Importation Customs Regime

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