TLH Assignment Agreement Clause Samples
The TLH Assignment Agreement clause establishes the terms under which rights, obligations, or interests related to Tax Loss Harvesting (TLH) strategies are transferred from one party to another. In practice, this clause outlines the process for assigning the management or benefits of TLH activities, such as specifying the assets involved, the effective date of the assignment, and any required consents or notifications. Its core function is to ensure that the assignment of TLH-related responsibilities or benefits is clearly documented and legally enforceable, thereby preventing disputes and ensuring both parties understand their roles and entitlements.
TLH Assignment Agreement. On or prior to the Closing Date, each of the transactions contemplated by the TLH Assignment Agreement shall have been consummated in accordance with the terms of the TLH Assignment Agreement; provided, that any failure of the foregoing to occur due to any default by Newco or Sellers thereunder shall not be deemed a failure of a condition precedent under this Section 12.6 and shall not relieve Sellers or Newco of any of their obligations under this Agreement.