Common use of Excluded Assets & Name License Clause in Contracts

Excluded Assets & Name License. Notwithstanding anything in this Agreement to the contrary, the following assets are not being sold pursuant to this Agreement: (i) all cash and cash equivalents, wherever located and in whatever form (unless “xxxxx cash” is noted on the Closing Memorandum); (ii) promissory notes and other evidences of indebtedness; (iii) all insurance policies; (iv) accounts receivable; (v) any claims or causes of action of Seller against third parties; (vi) tax credits and claims for tax refunds; (vii) securities, voting or otherwise in any entity; (viii) any rights in connection with and any assets of any employee benefit plan of Seller; (ix) the minute books and capital stock records of Seller, (x) all employment contracts, union contracts or collective bargaining agreements relating to any employees of Seller or Seller's operations, (xi) any contract to which Seller is a party that is not an Assigned Contract, (xii) any vehicle that is not included in the purchased Assets; (xiii) trade names, service marks, trade dress and logos incorporating the name “McGavock”; provided, however, that Seller hereby grants to Buyer the irrevocable and approval-free right and license to continue to use the “McGavock” name in trade names for the Dealerships as Seller has in the past for two (2) years, with an option to extend for an additional two (2) years after the Closing Date; and (xiv) all personal property owned by Principal and his family members located in or at the Dealerships, including, but not limited to, art and sports memorabilia (collectively, the “Excluded Assets”).

Excluded Assets & Name License. Notwithstanding anything in this Agreement to the contrary, the following assets are not being sold pursuant to this Agreement: (i) all cash and cash equivalents, wherever located and in whatever form (unless “xxxxx cash” is noted on the Closing Memorandum); (ii) promissory notes and other evidences of indebtedness; (iii) all insurance policies; (iv) accounts receivable; (v) any claims or causes of action of Seller against third parties; (vi) tax credits and claims for tax refunds; (vii) securities, voting or otherwise in any entity; (viii) any rights in connection with and any assets of any employee benefit plan of Seller; (ix) the minute books and capital stock records of Seller, (x) all employment contracts, union contracts or collective bargaining agreements relating to any employees of Seller or Seller's ’s operations, (xi) any contract to which Seller is a party that is not an Assigned Contract, and (xii) any vehicle that is not included in the purchased Assets; (xiii) trade names, service marks, trade dress and logos incorporating the name “McGavock”; provided, however, that Seller hereby grants to Buyer the irrevocable and approval-free right and license to continue to use the “McGavock” name in trade names for the Dealerships as Seller has in the past for two (2) years, with an option to extend for an additional two (2) years after the Closing Date; and (xiv) all personal property owned by Principal and his family members located in or at the Dealerships, including, but not limited to, art and sports memorabilia (collectively, the “Excluded Assets”).

Excluded Assets & Name License. Notwithstanding anything in this Agreement to the contrary, the following assets are not being sold pursuant to this Agreement: (i) all cash and cash equivalents, wherever located and in whatever form (unless “xxxxx cash” is noted on the Closing MemorandumMemorandum (as hereinafter defined); (ii) promissory notes and other evidences of indebtedness; (iii) all insurance policies; (iv) accounts receivable; (v) any claims or causes of action of Seller against third parties; (vi) tax credits and claims for tax refunds; (vii) securities, voting or otherwise in any entity; (viii) any rights in connection with and any assets of any employee benefit plan of Seller; (ix) the minute books and capital stock records of Seller, (x) all employment contracts, union contracts or collective bargaining agreements relating to any employees of Seller or Seller's ’s operations, (xi) any contract to which Seller is a party that is not an Assigned Contract, and (xii) any vehicle that is not included in the purchased Assets; (xiii) trade names, service marks, trade dress and logos incorporating the name “McGavock”; provided, however, that Seller hereby grants to Buyer the irrevocable and approval-free right and license to continue to use the “McGavock” name in trade names for the Dealerships as Seller has in the past for two (2) years, with an option to extend for an additional two (2) years after the Closing Date; and (xiv) all personal property owned by Principal and his family members located in or at the Dealerships, including, but not limited to, art and sports memorabilia (collectively, the “Excluded Assets”).

Excluded Assets & Name License. Notwithstanding anything in this Agreement to the contrary, the following assets are not being sold pursuant to this Agreement: (i) all cash and cash equivalents, wherever located and in whatever form (unless “xxxxx cash” is noted on the Closing Memorandum); (ii) promissory notes and other evidences of indebtedness; (iii) all insurance policies; (iv) accounts receivable; (v) any claims or causes of action of Seller against third parties; (vi) tax credits and claims for tax refunds; (vii) securities, voting or otherwise in any entity; (viii) any rights in connection with and any assets of any employee benefit plan of Seller; (ix) the minute books and capital stock records of Seller, (x) all employment contracts, union contracts or collective bargaining agreements relating to any employees of Seller or Seller's ’s operations, (xi) any contract to which Seller is a party that is not an Assigned Contract, (xii) any vehicle that is not included in the purchased Assets; Assets and (xiii) trade names, service marks, trade dress and logos incorporating the name “McGavockZappone”; provided, however, that Seller hereby grants to Buyer the irrevocable and approval-free right and license to continue to use the “McGavock” name in trade names for the Dealerships as Seller has in the past for two (2) years, with an option to extend for an additional two (2) years after the Closing Date; and (xiv) all personal property owned by Principal and his family members located in or at the Dealerships, including, but not limited to, art and sports memorabilia (collectively, the “Excluded Assets”).