Common use of TRANSFERS NOT EFFECTED PRIOR TO THE DISTRIBUTION Clause in Contracts

TRANSFERS NOT EFFECTED PRIOR TO THE DISTRIBUTION. To the extent that any transfers contemplated by this Article II shall not have been fully effected on the Distribution Date, the parties shall cooperate to effect such transfers as promptly as shall be practicable following the Distribution Date. Nothing herein shall be deemed to require the transfer of any assets or the assumption of any Liabilities which by their terms or operation of law cannot be transferred or assumed; PROVIDED, HOWEVER, that LTC and Healthcare and their respective Subsidiaries and Affiliates shall cooperate in seeking to obtain any necessary consents or approvals for the transfer of all assets and Liabilities contemplated to be transferred pursuant to this Article II. In the event that any such transfer of assets or Liabilities has not been consummated effective as of the Distribution Date, the party retaining such asset or Liability shall thereafter hold such asset in trust for the use and benefit of the party entitled thereto (at the expense of the party entitled thereto) and retain such Liability for the account of the party by whom such Liability is to be assumed pursuant hereto, and take such other actions as may be reasonably required in order to place the parties, insofar as reasonably possible, in the same position as would have existed had such asset been transferred or such Liability been assumed as contemplated hereby. As and when any such asset or Liability becomes transferable, such transfer and assumption shall be effected forthwith. The parties agree that, except as set forth in this Section 2.03, as of the Distribution Date, each party hereto shall be deemed to have acquired complete and sole beneficial ownership over all of the assets, together with all rights, powers and privileges incidental thereto, and shall be deemed to have assumed in accordance with the terms of this Agreement all of the Liabilities, and all duties, obligations and responsibilities incidental thereto, which such party is entitled to acquire or required to assume pursuant to the terms of this Agreement.

TRANSFERS NOT EFFECTED PRIOR TO THE DISTRIBUTION. To the extent that any transfers contemplated by this Article II shall not have been fully effected on the Distribution Date, the parties shall cooperate to effect such transfers as promptly as shall be practicable following the Distribution Date. Nothing herein shall be deemed to require the transfer of any assets or the assumption of any Liabilities which by their terms or operation of law cannot be transferred or assumed; PROVIDED, HOWEVER, that LTC ERC and Healthcare Evercel and their respective Subsidiaries and Affiliates shall cooperate in seeking to obtain any necessary consents or approvals for the transfer of all assets and Liabilities contemplated to be transferred pursuant to this Article II. In the event that any such transfer of assets or Liabilities has not been consummated effective as of the Distribution Date, the party retaining such asset or Liability shall thereafter hold such asset in trust for the use and benefit of the party entitled thereto (at the expense of the party entitled thereto) and retain such Liability for the account of the party by whom such Liability is to be assumed pursuant hereto, and take such other actions as may be reasonably required in order to place the parties, insofar as reasonably possible, in the same position as would have existed had such asset been transferred or such Liability been assumed as contemplated hereby. As and when any such asset or Liability becomes transferable, such transfer and assumption shall be effected forthwith. The parties agree that, except as set forth in this Section 2.03, as of the Distribution Date, each party hereto shall be deemed to have acquired complete and sole beneficial ownership over all of the assets, together with all rights, powers and privileges incidental thereto, and shall be deemed to have assumed in accordance with the terms of this Agreement all of the Liabilities, and all duties, obligations and responsibilities incidental thereto, which such party is entitled to acquire or required to assume pursuant to the terms of this Agreement. The parties expressly agree that ERC's interest in the Joint Venture Contract and the Three Circles License Agreement (together, the "Three Circles Contracts") may not be assigned to Evercel prior to obtaining the written consent and approval of ERC's Chinese partner and the appropriate Chinese governmental authorities. Pending receipt of these approvals, ERC and Evercel agree to enter into the License Assistance Agreement in the form attached hereto as Exhibit C. Once such consents and approvals have been obtained, ERC agrees to transfer and assign the Three Circles Contracts to Evercel.

TRANSFERS NOT EFFECTED PRIOR TO THE DISTRIBUTION. To the extent that any transfers contemplated by this Article II shall not have been fully effected consummated on or prior to the Distribution Date, the parties hereto shall cooperate to effect such transfers as promptly as shall be practicable following the Distribution Date. Nothing herein shall be deemed to require the transfer of any assets or the assumption of any Liabilities liabilities which by their terms or operation of law cannot be transferred or assumedtransferred; PROVIDEDprovided, HOWEVERhowever, that LTC the Company and Healthcare and their respective its Subsidiaries and Affiliates ABF shall cooperate in seeking to seek to obtain any necessary consents or approvals for the transfer of all assets and Liabilities contemplated to be transferred or assumed pursuant to this Article II. In the event that any such transfer of assets or Liabilities the assumption of any liabilities has not been consummated consummated, effective as of the Distribution Date, the party retaining such asset or Liability shall thereafter hold such asset in trust for the use and benefit of the party entitled thereto (at the expense of the party entitled thereto) ), and retain such Liability liability for the account of the party by whom such Liability liability is to be assumed pursuant hereto, and take such other actions action as may be reasonably required required, in order to place the parties, insofar as is reasonably possible, in the same position as would have existed had such asset been transferred or such Liability been liability assumed as contemplated hereby. As and when any such asset becomes transferable or Liability liability becomes transferableassumable, such transfer and assumption shall be effected forthwith. The parties agree that, except as set forth in this Section 2.032.4, as of the Distribution Date, each party hereto shall be deemed to have acquired complete and sole beneficial ownership over all of the assets, together with all rights, powers powers, privileges, duties, obligations and privileges incidental responsibilities incident thereto, and shall be deemed to have assumed in accordance with the terms of this Agreement all of the Liabilitiesliabilities, and all duties, obligations and responsibilities incidental thereto, thereto which such party is entitled to acquire or required to assume pursuant to the terms of this Agreement.

TRANSFERS NOT EFFECTED PRIOR TO THE DISTRIBUTION. To the extent that any transfers contemplated by this Article II shall not have been fully effected on as of the Distribution Date, the parties shall cooperate to effect such transfers as promptly as shall be practicable following the Distribution Date. Nothing herein shall be deemed to require the transfer of any assets or the assumption of any Liabilities which by their terms or operation of law cannot be transferred or assumedassumed including, without limitation, pursuant to Gaming Laws; PROVIDEDprovided, HOWEVERhowever, that LTC Company and Healthcare Lakes and their respective Subsidiaries and Affiliates shall cooperate in seeking to obtain any necessary consents or approvals for the transfer of all assets and Liabilities contemplated to be transferred pursuant to this Article IIAgreement including, without limitation, pursuant to Gaming Laws. In the event that any such transfer of assets or Liabilities has not been consummated effective as of the Distribution Date, the party retaining such asset or Liability shall thereafter hold such asset in trust for the use and benefit of the party entitled thereto (at the expense of the party entitled thereto) and retain such Liability for the account of the party by whom such Liability is to be assumed pursuant hereto, and take such other actions as may be reasonably required in order to place the parties, insofar as reasonably possible, in the same position as would have existed had such asset been transferred or such Liability been assumed as contemplated hereby. As and when any such asset or Liability becomes transferable, such transfer and assumption shall be effected forthwith. The parties agree that, except as set forth in this Section 2.03, as of the Distribution Date, each party hereto shall be deemed to have acquired complete and sole beneficial ownership over all of the assets, together with all rights, powers and privileges incidental thereto, and shall be deemed to have assumed in accordance with the terms of this Agreement all of the Liabilities, and all duties, obligations and responsibilities incidental thereto, which such party is entitled to acquire or required to assume pursuant to the terms of this Agreement.

TRANSFERS NOT EFFECTED PRIOR TO THE DISTRIBUTION. Transfers Deemed Effective as of the Cut-off Date. To the extent that any transfers and assumptions contemplated by this Article II III shall not have been fully effected on consummated prior to the Distribution Date, the parties shall cooperate to effect such transfers as promptly following the Distribution Date as shall be practicable following practicable, it nonetheless being agreed and understood by all the parties that no party shall be liable in any manner to any other party for any failure of any of the transfers contemplated by this Article III to be consummated prior to the Distribution Date. Nothing Subject to the provisions of Section 2.03, nothing herein shall be deemed to require the transfer of any assets or the assumption of any Liabilities which by their terms or operation of law cannot be transferred or assumed; PROVIDEDprovided, HOWEVERhowever, that LTC the Company and Healthcare Marcam Solutions shall, and shall cause their respective Subsidiaries and Affiliates shall to, cooperate in seeking to seek to obtain any necessary consents or approvals for the transfer of all assets and Liabilities contemplated to be transferred pursuant to this Article IIIII. In the event that any such transfer of assets (other than capital stock of corporations to be transferred hereunder) or Liabilities has not been consummated consummated, effective as of and after the Distribution Cut-off Date, the party retaining such asset or Liability shall thereafter hold such asset in trust for the use and benefit of the party entitled thereto (at the expense of the party entitled thereto) and retain such Liability for the account of the party by whom such Liability is to be assumed pursuant heretoassumed, and take such other actions action as may be reasonably required requested by the party to whom such asset is to be transferred, or by whom such Liability is to be assumed, as the case may be, in order to place the partiessuch party, insofar as reasonably possible, in the same position as would have existed had and such asset or Liability been transferred or such Liability been assumed as contemplated herebyof the Cut-off Date. As and when any such asset or Liability becomes transferable, such transfer and assumption shall be effected forthwith. The parties agree that, except as set forth in this Section 2.03, as of the Distribution Cut-off Date, each party hereto shall be deemed to have acquired complete and sole beneficial ownership over all of the assets, together with all rights, powers and privileges incidental thereto, and shall be deemed to have assumed in accordance with the terms of this Agreement and the Ancillary Agreements all of the Liabilities, and all duties, obligations and responsibilities incidental incident thereto, which such party is entitled to acquire or required to assume pursuant to the terms of this Agreementhereof and thereof.

TRANSFERS NOT EFFECTED PRIOR TO THE DISTRIBUTION. To the extent that any transfers contemplated by this Article II shall not have been fully effected on the Distribution Date, the parties shall cooperate to effect such transfers as promptly as shall be practicable following the Distribution Date. Nothing herein shall be deemed to require the transfer of any assets or the assumption of any Liabilities which that by their terms or operation of law cannot be transferred or assumed; PROVIDEDprovided, HOWEVERhowever, that LTC Getty and Healthcare Marketing and their respective Subsidiaries and Affiliates shall cooperate in seeking to obtain any necessary consents or approvals for the transfer of all assets and Liabilities contemplated to be transferred pursuant to this Article II. In the event that any such transfer of assets or Liabilities has not been consummated effective as of the Distribution Date, the party retaining such asset or Liability shall thereafter hold such asset in trust for the use and benefit of the party entitled thereto (at the expense of the party entitled thereto) and retain such Liability for the account of the party by whom such Liability is to be assumed pursuant hereto, and take such other actions as may be reasonably required in order to place the parties, insofar as reasonably possible, in the same position as would have existed had such asset been transferred or such Liability been assumed as contemplated hereby. As and when any such asset or Liability becomes transferable, such transfer and assumption shall be effected forthwith. The parties agree that, except as set forth described in this Section 2.03section below, as of the Distribution Date, each party hereto shall be deemed to have acquired complete and sole beneficial ownership over all of the assets, together with all rights, powers and privileges incidental thereto, and shall be deemed to have assumed in accordance with the terms of this Agreement all of the Liabilities, and all duties, obligations and responsibilities incidental thereto, which such party is entitled to acquire or required to assume pursuant to the terms of this Agreement.

TRANSFERS NOT EFFECTED PRIOR TO THE DISTRIBUTION. To the extent that any transfers contemplated by this Article II shall not have been fully effected on the Distribution Date, the parties shall cooperate to effect such transfers as promptly as shall be practicable following the Distribution Date. Nothing herein shall be deemed to require the transfer of any assets or the assumption of any Liabilities which by their terms or operation of law cannot be transferred betransferred or assumed; PROVIDEDprovided, HOWEVERhowever, that LTC Choice and Healthcare Franchising and their respective -------- ------- Subsidiaries and Affiliates shall cooperate in seeking to obtain any necessary consents or approvals for the transfer of all assets and Liabilities contemplated to be transferred pursuant to this Article II. In the event that any such transfer of assets or Liabilities has not been consummated effective as of the Distribution Date, the party retaining such asset or Liability shall thereafter hold such asset in trust for the use and benefit of the party entitled thereto (at the expense of the party entitled thereto) and retain such Liability for the account of the party by whom such Liability is to be assumed pursuant hereto, and take such other actions as may be reasonably required in order to place the parties, insofar as reasonably possible, in the same position as would have existed had such asset been transferred or such Liability been assumed as contemplated hereby. As and when any such asset or Liability becomes transferable, such transfer and assumption shall be effected forthwith. The parties agree that, except as set forth in this Section 2.03, as of the Distribution Date, each party hereto shall be deemed to have acquired complete and sole beneficial ownership over all of the assets, together with all rights, powers and privileges incidental thereto, and shall be deemed to have assumed in accordance with the terms of this Agreement all of the Liabilities, and all duties, obligations and responsibilities incidental thereto, which such party is entitled to acquire or required to assume pursuant to the terms of this Agreement.

TRANSFERS NOT EFFECTED PRIOR TO THE DISTRIBUTION. To the extent that any transfers contemplated by this Article II shall not have been fully effected consummated on or prior to the Distribution Date, the parties hereto shall cooperate to effect such transfers as promptly as shall be practicable following the Distribution Date. Nothing herein shall be deemed to require the transfer of any assets Assets or the assumption of any Liabilities which by their terms or operation of law cannot be transferred or assumedtransferred; PROVIDEDprovided, HOWEVERhowever, that LTC the Company and Healthcare Hotel and their respective Subsidiaries and Affiliates shall cooperate in seeking to seek to obtain any necessary consents or approvals for the transfer of all assets and Liabilities Assets contemplated to be transferred or assumed pursuant to this Article II. In the event that any such transfer of assets Assets or the assumption of any Liabilities has not been consummated consummated, effective as of the Distribution Date, the party retaining such asset or Liability Asset shall thereafter hold such asset Asset in trust for the use and benefit of the party entitled thereto (at the expense of the party entitled thereto) ), and retain such Liability for the account of the party by whom such Liability is to be assumed pursuant hereto, and take such other actions action as may be reasonably required required, in order to place the parties, insofar as is reasonably possible, in the same position as would have existed had such asset Asset been transferred or such Liability been assumed as contemplated hereby. As and when any such asset Asset becomes transferable or Liability becomes transferableassumable, such transfer and assumption shall be effected forthwith. The parties agree that, except as set forth in this Section 2.032.5, as of the Distribution Date, each party hereto shall be deemed to have acquired complete and sole beneficial ownership over all of the assetsAssets, together with all rights, powers powers, privileges, duties, obligations and privileges incidental responsibilities incident thereto, and shall be deemed to have assumed in accordance with the terms of this Agreement all of the Liabilities, and all duties, obligations and responsibilities incidental thereto, thereto which such party is entitled to acquire or required to assume pursuant to the terms of this Agreement.

TRANSFERS NOT EFFECTED PRIOR TO THE DISTRIBUTION. To the extent that any transfers contemplated by this Article II shall not have been fully effected on as of the Distribution Date, the parties shall cooperate to effect such transfers as promptly as shall be practicable following the Distribution Date. Nothing herein shall be deemed to require the transfer of any assets or the assumption of any Liabilities which by their terms or operation of law cannot be transferred or assumedassumed including, without limitation, pursuant to Gaming Laws; PROVIDED, HOWEVER, that LTC Hilton and Healthcare Park Place and their respective Subsidiaries and Affiliates shall cooperate in seeking to obtain any necessary consents or approvals for the transfer of all assets and Liabilities contemplated to be transferred pursuant to this Article IIAgreement including, without limitation, pursuant to Gaming Laws. Notwithstanding the foregoing, any transfers relating to Flamingo Casino Kansas City, Hilton Kansas City Corporation, HKC Partners, Inc. and HKC Advertising, Inc. shall be governed by the terms of that certain Disposition Agreement (the "DISPOSITION AGREEMENT") dated the date hereof, by and among Hilton, Flamingo Hilton Riverboat Casino, L.P., a Missouri limited partnership and Park Place, and the ancillary agreements thereto. To the extent that the terms of this Agreement and the terms of the Disposition Agreement or any ancillary agreement thereto are in conflict, the Disposition Agreement and the related ancillary agreements thereto shall govern. In the event that any such transfer of assets or Liabilities has not been consummated effective as of the Distribution Date, the party retaining such asset or Liability shall thereafter hold such asset in trust for the use and benefit of the party entitled thereto (at the expense of the party entitled thereto) and retain such Liability for the account of the party by whom such Liability is to be assumed pursuant hereto, and take such other actions as may be reasonably required in order to place the parties, insofar as reasonably possible, in the same position as would have existed had such asset been transferred or such Liability been assumed as contemplated hereby. As and when any such asset or Liability becomes transferable, such transfer and assumption shall be effected forthwith. The parties agree that, except as set forth in this Section 2.03, as of the Distribution Date, each party hereto shall be deemed to have acquired complete and sole beneficial ownership over all of the assets, together with all rights, powers and privileges incidental thereto, and shall be deemed to have assumed in accordance with the terms of this Agreement all of the Liabilities, and all duties, obligations and responsibilities incidental thereto, which such party is entitled to acquire or required to assume pursuant to the terms of this Agreement.

TRANSFERS NOT EFFECTED PRIOR TO THE DISTRIBUTION. To the extent that any transfers contemplated by this Article II shall not have been fully effected on the Distribution Date, the parties shall cooperate to effect such transfers as promptly as shall be practicable following the Distribution Date. Nothing herein shall be deemed to require the transfer of any assets or the assumption of any Liabilities which by their terms or operation of law cannot be transferred or assumed; PROVIDED, HOWEVER, that LTC Excel, EDV and Healthcare Legacy and their respective Subsidiaries and Affiliates shall cooperate in seeking to obtain any necessary consents or approvals for the transfer of all assets and Liabilities contemplated to be transferred pursuant to this Article II. In the event that any such transfer of assets or Liabilities has not been consummated effective as of the Distribution Date, the party retaining such asset or Liability shall thereafter hold such asset in trust for the use and benefit of the party entitled thereto (at the expense of the party entitled thereto) and retain such Liability for the account of the party by whom such Liability is to be assumed pursuant hereto, and take such other actions as may be reasonably required in order to place the parties, insofar as reasonably possible, in the same position as would have existed had such asset been transferred or such Liability been assumed as contemplated hereby. As and when any such asset or Liability becomes transferable, such transfer and assumption shall be effected forthwith. The parties agree that, except as set forth in this Section 2.03, as of the Distribution Date, each party hereto shall be deemed to have acquired complete and sole beneficial ownership over all of the assets, together with all rights, powers and privileges incidental thereto, and shall be deemed to have assumed in accordance with the terms of this Agreement all of the Liabilities, and all duties, obligations and responsibilities incidental thereto, which such party is entitled to acquire or required to assume pursuant to the terms of this Agreement.

TRANSFERS NOT EFFECTED PRIOR TO THE DISTRIBUTION. To the extent that any transfers contemplated by this Article II shall not have been fully effected on as of the Distribution Date, the parties shall cooperate to effect such transfers as promptly as shall be practicable following the Distribution Date. Nothing herein shall be deemed to require the transfer of any assets or the assumption of any Liabilities which by their terms or operation of law cannot be transferred or assumedassumed including, without limitation, pursuant to Gaming Laws; PROVIDED, HOWEVER, that LTC Hilton and Healthcare Gaming Co. and their respective Subsidiaries and Affiliates shall cooperate in seeking to obtain any necessary consents or approvals for the transfer of all assets and Liabilities contemplated to be transferred pursuant to this Article IIAgreement including, without limitation, pursuant to Gaming Laws. In the event that any such transfer of assets or Liabilities has not been consummated effective as of the Distribution Date, the party retaining such asset or Liability shall thereafter hold such asset in trust for the use and benefit of the party entitled thereto (at the expense of the party entitled thereto) and retain such Liability for the account of the party by whom such Liability is to be assumed pursuant hereto, and take such other actions as may be reasonably required in order to place the parties, insofar as reasonably possible, in the same position as would have existed had such asset been transferred or such Liability been assumed as contemplated hereby. As and when any such asset or Liability becomes transferable, such transfer and assumption shall be effected forthwith. The parties agree that, except as set forth in this Section 2.03, as of the Distribution Date, each party hereto shall be deemed to have acquired complete and sole beneficial ownership over all of the assets, together with all rights, powers and privileges incidental thereto, and shall be deemed to have assumed in accordance with the terms of this Agreement all of the Liabilities, and all duties, obligations and responsibilities incidental thereto, which such party is entitled to acquire or required to assume pursuant to the terms of this Agreement.

TRANSFERS NOT EFFECTED PRIOR TO THE DISTRIBUTION. Transfers ----------------------------------------------------------- Deemed Effective as of the Cut-off Date. To the extent that any transfers and --------------------------------------- assumptions contemplated by this Article II III shall not have been fully effected on consummated prior to the Distribution Date, the parties shall cooperate to effect such transfers as promptly following the Distribution Date as shall be practicable following practicable, it nonetheless being agreed and understood by all the parties that no party shall be liable in any manner to any other party for any failure of any of the transfers contemplated by this Article III to be consummated prior to the Distribution Date. Nothing Subject to the provisions of Section 2.03, nothing herein shall be deemed to require the transfer of any assets or the assumption of any Liabilities which by their terms or operation of law cannot be transferred or assumed; PROVIDEDprovided, HOWEVERhowever, that LTC Premark and Healthcare Tupperware shall, and shall cause -------- ------- their respective Subsidiaries and Affiliates shall to, cooperate in seeking to seek to obtain any necessary consents or approvals for the transfer of all assets and Liabilities contemplated to be transferred pursuant to this Article IIIII. In the event that any such transfer of assets (other than capital stock of corporations to be transferred hereunder) or Liabilities has not been consummated consummated, effective as of and after the Distribution Cut-off Date, the party retaining such asset or Liability shall thereafter hold such asset in trust for the use and benefit of the party entitled thereto (at the expense of the party entitled thereto) and retain such Liability for the account of the party by whom such Liability is to be assumed pursuant heretoassumed, and take such other actions action as may be reasonably required requested by the party to whom such asset is to be transferred, or by whom such Liability is to be assumed, as the case may be, in order to place the partiessuch party, insofar as reasonably possible, in the same position as would have existed had such asset or Liability been transferred or such Liability been assumed as contemplated herebyof the Cut-off Date. As and when any such asset or Liability becomes transferable, such transfer and assumption shall be effected forthwith. The parties agree that, except as set forth in this Section 2.03, as of the Distribution Cut-off Date, each party hereto shall be deemed to have acquired complete and sole beneficial ownership over all of the assets, together with all rights, powers and privileges incidental thereto, and shall be deemed to have assumed in accordance with the terms of this Agreement and the Ancillary Agreements all of the Liabilities, and all duties, obligations and responsibilities incidental incident thereto, which such party is entitled to acquire or required to assume pursuant to the terms of this Agreement.hereof and thereof. Section 3.09

TRANSFERS NOT EFFECTED PRIOR TO THE DISTRIBUTION. To the extent that any transfers contemplated by this Article II shall not have been fully effected on the Distribution Date, the parties shall cooperate to effect such transfers as promptly as shall be practicable following the Distribution Date. Nothing herein shall be deemed to require the transfer of any assets or the assumption of any Liabilities which by their terms or operation of law cannot be transferred or assumed; PROVIDEDprovided, HOWEVERhowever, that LTC -------- ------- Choice and Healthcare Franchising and their respective Subsidiaries and Affiliates shall cooperate in seeking to obtain any necessary consents or approvals for the transfer of all assets and Liabilities contemplated to be transferred pursuant to this Article II. In the event that any such transfer of assets or Liabilities has not been consummated effective as of the Distribution Date, the party retaining such asset or Liability shall thereafter hold such asset in trust for the use and benefit of the party entitled thereto (at the expense of the party entitled thereto) and retain such Liability for the account of the party by whom such Liability is to be assumed pursuant hereto, and take such other actions as may be reasonably required in order to place the parties, insofar as reasonably possible, in the same position as would have existed had such asset been transferred or such Liability been assumed as contemplated hereby. As and when any such asset or Liability becomes transferable, such transfer and assumption shall be effected forthwith. The parties agree that, except as set forth in this Section 2.03, as of the Distribution Date, each party hereto shall be deemed to have acquired complete and sole beneficial ownership over all of the assets, together with all rights, powers and privileges incidental thereto, and shall be deemed to have assumed in accordance with the terms of this Agreement all of the Liabilities, and all duties, obligations and responsibilities incidental thereto, which such party is entitled to acquire or required to assume pursuant to the terms of this Agreement.

TRANSFERS NOT EFFECTED PRIOR TO THE DISTRIBUTION. Transfers Deemed Effective as of the Distribution Date To the extent that the any transfers contemplated by this Article II shall of the KHD Transfers or the MFC Transfers have not have been fully effected consummated on or prior to the Distribution Date, the parties shall cooperate and use reasonable best efforts to effect the transfer of such transfers shares as promptly following the Distribution Date as shall be practicable following the Distribution Datepracticable. Nothing herein shall be deemed to require the transfer of any assets of shares contemplated by the KHD Transfers or the assumption of any Liabilities MFC Transfers which by their terms or operation of law cannot be transferred or assumeduntil such time as all legal impediments to such transfer have been removed; PROVIDEDprovided, HOWEVERhowever, that LTC KHD and Healthcare MFC shall, and shall cause their respective Subsidiaries and Affiliates shall cooperate in seeking subsidiaries to, use its reasonable best efforts to obtain any necessary consents or approvals for the transfer completion of all assets the KHD Transfers and Liabilities contemplated to be transferred pursuant to this Article IIthe MFC Transfers. In the event that any such transfer of assets the KHD Transfers or Liabilities has the MFC Transfers have not been consummated consummated, effective as of on or before the Distribution Date, the party retaining the shares subject to such asset or Liability transfer shall thereafter hold such asset shares in trust for the use and benefit of the party entitled thereto (at the expense of the party entitled thereto) and retain such Liability for the account of the party by whom such Liability is to be assumed pursuant hereto, and take such other actions action as may be reasonably required requested by the party to which such shares are to be transferred, in order to place the partiessuch party, insofar as reasonably possiblepracticable, in substantially the same position as would have existed had such asset shares been transferred or such Liability been assumed as contemplated hereby. As and when any such asset or Liability shares becomes transferable, such transfer automatically and assumption without any further action shall be effected forthwith. The Subject to the foregoing, the parties agree that, except as set forth in this Section 2.03, as of the Distribution DateDate (or such earlier time as any such shares may have been transferred or indebtedness assumed), each party hereto shall be deemed to have acquired complete and sole beneficial ownership over all of the assetssuch shares, together with all rights, powers and privileges incidental thereto, and shall be deemed to have assumed in accordance with the terms of this Agreement all of the Liabilities, and all duties, obligations and responsibilities incidental incident thereto, which such party is entitled to acquire or required to assume pursuant to the terms of this Agreement.

TRANSFERS NOT EFFECTED PRIOR TO THE DISTRIBUTION. To the extent that any transfers contemplated by this Article II shall not have been fully effected on the Distribution Date, the parties shall cooperate to effect such transfers as promptly as shall be practicable following the Distribution Date. Nothing herein shall be deemed to require the transfer of any assets or the assumption of any Liabilities which by their terms or operation of law cannot be transferred or assumed; PROVIDED, HOWEVER, that LTC PEI and Healthcare PriceSmart and their respective Subsidiaries and Affiliates shall cooperate in seeking to obtain any necessary consents or approvals for the transfer of all assets and Liabilities contemplated to be transferred pursuant to this Article II. In the event that any such transfer of assets or Liabilities has not been consummated effective as of the Distribution Date, the party retaining such asset or Liability shall thereafter hold such asset in trust for the use and benefit of the party entitled thereto (at the expense of the party entitled thereto) and retain such Liability for the account of the party by whom such Liability is to be assumed pursuant hereto, and take such other actions as may be reasonably required in order to place the parties, insofar as reasonably possible, in the same position as would have existed had such asset been transferred or such Liability been assumed as contemplated hereby. As and when any such asset or Liability becomes transferable, such transfer and assumption shall be effected forthwith. The parties agree that, except as set forth in this Section 2.032.02, as of the Distribution Date, each party hereto shall be deemed to have acquired complete and sole beneficial ownership over all of the assets, together with all rights, powers and privileges incidental thereto, and shall be deemed to have assumed in accordance with the terms of this Agreement all of the Liabilities, and all duties, obligations and responsibilities incidental thereto, which such party is entitled to acquire or required to assume pursuant to the terms of this Agreement.

TRANSFERS NOT EFFECTED PRIOR TO THE DISTRIBUTION. To the extent that any transfers contemplated by this Article II shall not have been fully effected on the Distribution Date, the parties shall cooperate to effect such transfers as promptly as shall be practicable following the Distribution Date. Nothing herein shall be deemed to require the transfer of any assets or the assumption of any Liabilities which by their terms or operation of law cannot be transferred or assumed; PROVIDEDprovided, HOWEVERhowever, that LTC Excel, EDV and Healthcare Legacy and their respective Subsidiaries and Affiliates shall cooperate in seeking to obtain any necessary consents or approvals for the transfer of all assets and Liabilities contemplated to be transferred pursuant to this Article II. In the event that any such transfer of assets or Liabilities has not been consummated effective as of the Distribution Date, the party retaining such asset or Liability shall thereafter hold such asset in trust for the use and benefit of the party entitled thereto (at the expense of the party entitled thereto) and retain such Liability for the account of the party by whom such Liability is to be assumed pursuant hereto, and take such other actions as may be reasonably required in order to place the parties, insofar as reasonably possible, in the same position as would have existed had such asset been transferred or such Liability been assumed as contemplated hereby. As and when any such asset or Liability becomes transferable, such transfer and assumption shall be effected forthwith. The parties agree that, except as set forth in this Section 2.03, as of the Distribution Date, each party hereto shall be deemed to have acquired complete and sole beneficial ownership over all of the assets, together with all rights, powers and privileges incidental thereto, and shall be deemed to have assumed in accordance with the terms of this Agreement all of the Liabilities, and all duties, obligations and responsibilities incidental thereto, which such party is entitled to acquire or required to assume pursuant to the terms of this Agreement.

TRANSFERS NOT EFFECTED PRIOR TO THE DISTRIBUTION. Transfers ----------------------------------------------------------- Deemed Effective as of the Distribution Date. To the extent that any transfers -------------------------------------------- contemplated by this Article II shall not have been fully effected consummated on or prior to the Distribution Date, the parties shall cooperate to effect such transfers as promptly following the Distribution Date as shall be practicable following the Distribution Datepracticable. Nothing herein shall be deemed to require the transfer of any assets or the assumption of any Liabilities which by their terms or operation of law cannot be transferred or assumedtransferred; PROVIDEDprovided, HOWEVERhowever, that LTC and Healthcare the parties hereto and their respective -------- ------- Subsidiaries and Affiliates shall cooperate in seeking to seek to obtain any necessary consents or approvals for the transfer of all assets and Liabilities contemplated to be transferred pursuant to this Article II. In the event that any such transfer of assets or Liabilities has not been consummated effective as of consummated, from and after the Distribution Date, Date the party retaining such asset or Liability shall thereafter hold such asset in trust for the use and benefit of the party entitled thereto (at the expense of the party entitled thereto) and or retain such Liability for the account of the party by whom such Liability is to be assumed pursuant hereto, as the case may be, and take such other actions action as may be reasonably required requested by the party to whom such asset is to be transferred, or by whom such Liability is to be assumed, as the case may be, in order to place the partiessuch party, insofar as is reasonably possible, in the same position as would have existed had such asset or Liability been transferred or such Liability been assumed as contemplated hereby. As and when any such asset or Liability becomes transferable, such transfer and assumption shall be effected forthwith. The parties agree that, except as set forth in this Section 2.03, as of the Distribution Date, each party hereto shall be deemed to have acquired complete and sole beneficial ownership over all of the assetsassets held by it, together with all rights, powers and privileges incidental incident thereto, and shall be deemed to have assumed in accordance with the terms of this Agreement all of the Liabilities, and all duties, obligations and responsibilities incidental incident thereto, which such party is entitled to acquire or required to assume pursuant to the terms of this Agreement.