The Separation and Related Transactions. (a) (i) The Parties acknowledge that the Separation, subject to the terms and conditions hereof and of the Ancillary Agreements, will result in (A) Broadridge directly or indirectly operating the Broadridge Group and the Broadridge Business, owning all of the Broadridge Assets and being liable for all of the Broadridge Liabilities and (B) ADP directly or indirectly operating the ADP Group and the ADP Business, owning all of the ADP Assets and being liable for all of the ADP Liabilities.
Appears in 3 contracts
Samples: Separation and Distribution Agreement, Separation and Distribution Agreement (Automatic Data Processing Inc), Separation and Distribution Agreement (Broadridge Financial Solutions, LLC)
The Separation and Related Transactions. (a) (i) The Parties acknowledge that the Separation, subject to the terms and conditions hereof and of the Ancillary Agreements, will result in (A) Broadridge Dealer directly or indirectly operating the Broadridge Dealer Group and the Broadridge Dealer Business, owning all of the Broadridge Dealer Assets and being liable for all of the Broadridge Dealer Liabilities and (B) ADP directly or indirectly operating the ADP Group and the ADP Business, owning all of the ADP Assets and being liable for all of the ADP Liabilities.
Appears in 2 contracts
Samples: Separation and Distribution Agreement (Automatic Data Processing Inc), Separation and Distribution Agreement (Dealer Services Holdings LLC)
