Shenzhen Assets Sample Clauses

Shenzhen Assets. Following the First Closing, Seller shall effect the removal of the assets set forth on Section 2.10(e) of the Seller Disclosure Schedule (the “Shenzhen Assets”) from the Shenzhen Site on the earliest of: (i) the date that is the six (6) month anniversary of the First Closing Date, (ii) the date that is thirty (30) days after Seller or such designated Affiliate shall have acquired (A) all Permits necessary to own, house and operate such assets under applicable Law, and (B) an appropriate facility to house and operate such assets (and Seller shall have delivered thirty (30) days’ advance written notice of the occurrence of such matters described in this clause (ii) to Purchaser), and (iii) the date that is thirty days (30) days after Seller’s written request to effect such transfer. From and after the First Closing, Seller shall reimburse, indemnify and hold harmless Purchaser and its Affiliates from and against any Losses suffered by them as a result of the use, operation or removal by Seller or its Affiliate of the Shenzhen Assets, except to the extent such Losses were caused by the fraud, gross negligence or willful misconduct of Purchaser or any of its Affiliates.
Sample 1
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