Manufacturer Approval. The Manufacturers shall have approved in writing the Transaction and the appointment of the Purchaser as an authorized motor vehicle dealer in the Manufacturers’ products at the applicable Dealership Premises, all on terms (including any facility or image improvement requirements) acceptable to each of the Manufacturers, and the Purchaser shall have obtained from each of the Manufacturers all documentation necessary for issuance of a West Virginia new motor vehicle dealer license. Each of the Manufacturers shall have executed all documents required to terminate its dealer sales and service agreements with the Seller, to be effective as of the Closing Date and to be delivered to the Seller at Closing.
Appears in 1 contract
Samples: Asset Purchase Agreement (LMP Automotive Holdings, Inc.)
Manufacturer Approval. The Manufacturers Manufacturer shall have approved in writing the Transaction and the appointment of the Purchaser as an authorized motor vehicle dealer in the Manufacturers’ Manufacturer’s products at the applicable Dealership Premises, all on no less favorable terms (including any facility or image improvement requirements) acceptable to each of than the ManufacturersSeller’s current franchise agreement with the Manufacturer, and the Purchaser Manufacturer shall have obtained from each of issued to the Manufacturers all Purchaser such documentation necessary for issuance of a West Virginia Tennessee new motor vehicle dealer license. Each of the Manufacturers The Seller shall have executed all documents required by the Manufacturer to terminate its dealer sales and service agreements agreement with the SellerManufacturer, to be effective as of the Closing Date and to be delivered to the Seller Purchaser and the Manufacturer at Closing.
Appears in 1 contract
Samples: Assignment and Assumption Agreement (LMP Automotive Holdings, Inc.)
Manufacturer Approval. The Manufacturers Manufacturer shall have approved in writing the Transaction and the appointment of the Purchaser as an authorized motor vehicle dealer in the Manufacturers’ Manufacturer’s products at the applicable Dealership Premises, all on terms (including any facility or image improvement requirements) acceptable to each of the ManufacturersPurchaser, and the Purchaser Manufacturer shall have obtained from each of issued to the Manufacturers all Purchaser such documentation necessary for issuance of a West Virginia Georgia new motor vehicle dealer license. Each of the Manufacturers The Seller shall have executed all documents required by the Manufacturer to terminate its dealer sales and service agreements agreement with the SellerManufacturer, to be effective as of the Closing Date and to be delivered to the Seller Purchaser and the Manufacturer at Closing.
Appears in 1 contract
Samples: Asset Purchase and Contribution Agreement (LMP Automotive Holdings, Inc.)
Manufacturer Approval. The Manufacturers shall have approved in writing the Transaction and the appointment of the Purchaser as an authorized motor vehicle dealer in the Manufacturers’ products at the applicable Dealership Premises, all on terms (including any facility or image improvement requirements) acceptable to each of the ManufacturersPurchaser, and the Purchaser Manufacturers shall have obtained from each of issued to the Manufacturers all Purchaser such documentation necessary for issuance of a West Virginia new motor vehicle dealer license. Each of the Manufacturers The Seller shall have executed all documents required by the Manufacturers to terminate its dealer sales and service agreements with the SellerManufacturers, to be effective as of the Closing Date and to be delivered to the Seller Purchaser and the Manufacturers at Closing.
Appears in 1 contract
Samples: Asset Purchase Agreement (LMP Automotive Holdings, Inc.)