Post-Distribution Services. The Parties recognize that legal and other professional services will be provided following the Effective Time that will be rendered solely for the benefit of SMTA and its Affiliates or SRC and its Affiliates, as the case may be. With respect to such post-Distribution services, the Parties agree as follows: (i) SRC shall be entitled, in perpetuity, to control the assertion or waiver of all privileges in connection with privileged information that relates solely to the SRC Assets, whether or not the privileged information is in the possession of or under the control of SRC or SMTA. SRC shall also be entitled, in perpetuity, to control the assertion or waiver of all privileges in connection with privileged information that relates solely to the subject matter of any claims constituting SRC Liabilities, now pending or which may be asserted in the future, in any lawsuits or other proceedings initiated by or against any member of the SRC Group, whether or not the privileged information is in the possession of or under the control of SRC or SMTA; and (ii) SMTA shall be entitled, in perpetuity, to control the assertion or waiver of all privileges in connection with privileged information that relates solely to the SMTA Assets, whether or not the privileged information is in the possession of or under the control of SRC or SMTA. SMTA shall also be entitled, in perpetuity, to control the assertion or waiver of all privileges in connection with privileged information that relates solely to the subject matter of any claims constituting SMTA Liabilities, now pending or which may be asserted in the future, in any lawsuits or other proceedings initiated by or against any member of the SMTA Group, whether or not the privileged information is in the possession of or under the control of SRC or SMTA.
Appears in 2 contracts
Samples: Separation and Distribution Agreement (Spirit MTA REIT), Separation and Distribution Agreement (Spirit MTA REIT)
Post-Distribution Services. The Parties recognize that legal and other professional services will be provided following the Effective Time that will be rendered solely for the benefit of SMTA CareTrust and its Affiliates or SRC Ensign and its Affiliates, as the case may be. With respect to such post-Distribution services, the Parties agree as follows:
(i) SRC Ensign shall be entitled, in perpetuity, to control the assertion or waiver of all privileges in connection with privileged information that relates solely to the SRC AssetsEnsign Business, whether or not the privileged information is in the possession of or under the control of SRC Ensign or SMTACareTrust. SRC Ensign shall also be entitled, in perpetuity, to control the assertion or waiver of all privileges in connection with privileged information that relates solely to the subject matter of any claims constituting SRC Ensign Liabilities, now pending or which may be asserted in the future, in any lawsuits or other proceedings initiated by or against any member of the SRC Ensign Group, whether or not the privileged information is in the possession of or under the control of SRC Ensign or SMTACareTrust; and
(ii) SMTA CareTrust shall be entitled, in perpetuity, to control the assertion or waiver of all privileges in connection with privileged information that relates solely to the SMTA AssetsCareTrust Business, whether or not the privileged information is in the possession of or under the control of SRC Ensign or SMTACareTrust. SMTA CareTrust shall also be entitled, in perpetuity, to control the assertion or waiver of all privileges in connection with privileged information that relates solely to the subject matter of any claims constituting SMTA CareTrust Liabilities, now pending or which may be asserted in the future, in any lawsuits or other proceedings initiated by or against any member of the SMTA CareTrust Group, whether or not the privileged information is in the possession of or under the control of SRC Ensign or SMTACareTrust.
Appears in 2 contracts
Samples: Separation and Distribution Agreement (CareTrust REIT, Inc.), Separation and Distribution Agreement (CareTrust REIT, Inc.)
Post-Distribution Services. The Parties recognize that legal and other professional services will be provided following the Effective Time that will be rendered solely for the benefit of SMTA Xenia and its Affiliates or SRC Inland American and its Affiliates, as the case may be. With respect to such post-Distribution services, the Parties agree as follows:
(i) SRC Inland American shall be entitled, in perpetuity, to control the assertion or waiver of all privileges in connection with privileged information that relates solely to the SRC AssetsInland American Business, whether or not the privileged information is in the possession of or under the control of SRC Inland American or SMTAXenia. SRC Inland American shall also be entitled, in perpetuity, to control the assertion or waiver of all privileges in connection with privileged information that relates solely to the subject matter of any claims constituting SRC Inland American Liabilities, now pending or which may be asserted in the future, in any lawsuits or other proceedings initiated by or against any member of the SRC Inland American Group, whether or not the privileged information is in the possession of or under the control of SRC Inland American or SMTAXenia; and
(ii) SMTA Xenia shall be entitled, in perpetuity, to control the assertion or waiver of all privileges in connection with privileged information that relates solely to the SMTA AssetsXenia Business, whether or not the privileged information is in the possession of or under the control of SRC Inland American or SMTAXenia. SMTA Xenia shall also be entitled, in perpetuity, to control the assertion or waiver of all privileges in connection with privileged information that relates solely to the subject matter of any claims constituting SMTA Xenia Liabilities, now pending or which may be asserted in the future, in any lawsuits or other proceedings initiated by or against any member of the SMTA Xenia Group, whether or not the privileged information is in the possession of or under the control of SRC Inland American or SMTAXenia.
Appears in 2 contracts
Samples: Separation and Distribution Agreement (Xenia Hotels & Resorts, Inc.), Separation and Distribution Agreement (Xenia Hotels & Resorts, Inc.)
Post-Distribution Services. The Parties recognize that legal and other professional services will be provided following the Effective Time that will be rendered solely for the benefit of SMTA NXRT and its Affiliates or SRC NHF and its Affiliates, as the case may be. With respect to such post-Distribution services, the Parties agree as follows:
(i) SRC NHF shall be entitled, in perpetuity, to control the assertion or waiver of all privileges in connection with privileged information that relates solely to the SRC NHF Assets, whether or not the privileged information is in the possession of or under the control of SRC NHF or SMTANXRT. SRC NHF shall also be entitled, in perpetuity, to control the assertion or waiver of all privileges in connection with privileged information that relates solely to the subject matter of any claims constituting SRC NHF Liabilities, now pending or which may be asserted in the future, in any lawsuits or other proceedings initiated by or against any member of the SRC NHF Group, whether or not the privileged information is in the possession of or under the control of SRC NHF or SMTANXRT; and
(ii) SMTA The NXRT Group shall be entitled, in perpetuity, to control the assertion or waiver of all privileges in connection with privileged information that relates solely to the SMTA NXRT Assets, whether or not the privileged information is in the possession of or under the control of SRC NHF or SMTANXRT. SMTA The NXRT Group shall also be entitled, in perpetuity, to control the assertion or waiver of all privileges in connection with privileged information that relates solely to the subject matter of any claims constituting SMTA NXRT Liabilities, now pending or which may be asserted in the future, in any lawsuits or other proceedings initiated by or against any member of the SMTA NXRT Group, whether or not the privileged information is in the possession of or under the control of SRC NHF or SMTANXRT.
Appears in 2 contracts
Samples: Separation and Distribution Agreement (NexPoint Residential Trust, Inc.), Separation and Distribution Agreement (NexPoint Residential Trust, Inc.)