NON-ASSIGNABLE SERVICE CONTRACTS Sample Clauses

NON-ASSIGNABLE SERVICE CONTRACTS. The parties hereto recognize that it may be impossible or impractical for Seller to assign all of the Service Contracts. A Service Contract that is impossible or impractical to assign shall be referred to hereafter as a "Non-assignable Service Contract". Seller agrees that Non-assignable Service Contracts shall not be extended beyond their initial expiration dates. With respect to each Non-assignable Service Contract, the following shall apply as of the Closing Date and thereafter: (a) Seller shall assign its economic rights and obligations with respect to such Contracts; (b) Seller shall remain legally obligated under the terms of such Contracts; (c) Purchaser shall be entitled to all of Seller's rights (including the right to the return of security deposits, if any, paid by Seller), and shall assume all of Seller's financial obligations and make all further payments due by Seller under the terms of the Non-Assignable Service Contracts which accrue on or after the Closing Date; and (d) Purchaser shall indemnify and hold Seller harmless for any claim made against Seller due to the non-payment or non-performance by Purchaser of any financial or other obligation assumed by Purchaser hereunder with respect to each such Non-assignable Service Contract.

NON-ASSIGNABLE SERVICE CONTRACTS. To the extent INNX elects to have GCOR continue to contract directly with a party for services provided by such party under the Non-Assignable Service Contracts, i.e. the Service Contracts with [ *** ], the Parties agree as follows: (a) GCOR will perform all obligations, including making any payments due under such Non-Assignable Service Contracts, to the benefit of, and as instructed in writing by, INNX; (b) GCOR shall keep INNX informed of the services so provided: (c) Upon receipt of a corresponding invoice from GCOR, INNX will reimburse GCOR for any expenses paid by it to said third parties pursuant to the Non-Assignable Service Contracts; and (d) INNX will, prior to the expiration date of the Transition Period, terminate any further services to be provided by such parties through GCOR and either establish its own independent service agreements directly with such parties as it deems appropriate, or obtain such services elsewhere, solely at its discretion.

NON-ASSIGNABLE SERVICE CONTRACTS. The parties hereto recognize that it may be impossible or impractical for Seller to assign all of the Service Contracts. A Service Contract that is impossible or impractical to assign shall be referred to hereafter as a "Non-assignable Service Contract". With respect to each Non-assignable Service Contract, the following shall apply as of the date of Closing