Post Settlement Obligations Sample Clauses
The Post Settlement Obligations clause outlines the responsibilities and actions that parties must fulfill after a settlement agreement has been reached. This may include tasks such as making final payments, returning confidential information, or executing additional documents necessary to finalize the settlement. Its core function is to ensure that all parties complete any remaining duties required to fully implement the settlement, thereby preventing future disputes and ensuring closure.
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Post Settlement Obligations. The following obligations of the parties shall survive settlement of the Units:
(a) Maintenance of the Property pursuant to Subparagraph 15(b);
(b) Work to be performed by Purchaser or Seller pursuant to Paragraph 7;
(c) All of Seller’s responsibilities pursuant to the organization and management of the Homeowners Association as required under Paragraph 14 which are not completed by the time Purchaser settles on the Building Pads;
Post Settlement Obligations. The transfer of the target assets under this Agreement to Biznest is subject to the satisfaction of the following post-settlement obligations within two (2) months after the date of settlement (Biznest has the right but not the obligation to waive one or more of the following conditions):
(1) The change of directors, supervisors and senior management of the Target Company to the persons designated by Biznest and the industrial and commercial registration of changes, for which the Transferors shall provide necessary assistance and facilities;
(2) If the Target Company has any payment due but not yet paid by [May] [10], 2021, the Transferors shall bear all liquidated damages, overdue fine and all other losses (including but not limited to litigation costs, preservation costs, attorney’s fees and compensation to be paid by the Target Company to third parties) arising from such payments.
Post Settlement Obligations. The acquisition of the Underlying Assets under this Agreement by TAOPING HOLDINGS is subject to the satisfaction of the following post-settlement obligations within two (2) months after the Settlement Day (TAOPING HOLDINGS has the right but not the obligation to waive one or more of the following conditions):
(1) The directors, supervisors, and senior executives of the Target Company shall be changed to the candidates designated by both parties through consultation and it is needed to go through alteration registration procedures. Necessary assistance and convenience shall be provided by the Transferor.
(2) If the Target Company has any payment due but not yet paid by [April] [30], 2021, the Transferor shall bear all liquidated damages, overdue fines and all other losses (including but not limited to litigation costs, preservation costs, attorney’s fees and compensation to be paid by the Target Company to the third party) arising from such payments.
Post Settlement Obligations