Common use of VESTING OF THE PURCHASED ASSETS Clause in Contracts

VESTING OF THE PURCHASED ASSETS. [13] ORDERS AND DECLARES that upon the issuance of the Monitor's certificate substantially in the form appended as Schedule "A" hereto (the “Monitor’s Certificate”), all rights, title and interest in and to the Purchased Assets shall vest absolutely and exclusively in and with the Purchaser, free and clear of and from any and all rights, titles, benefits, priorities, claims (direct, indirect, absolute or contingent), liabilities, obligations, interests, prior claims, security interests (whether contractual, statutory or otherwise), liens, charges, hypothecs, mortgages, pledges, trusts, deemed trusts (whether contractual, statutory, or otherwise), assignments, judgments, executions, writs of seizure or execution, notices of sale, options, agreements, rights of distress, legal, equitable or contractual setoff, adverse claims, levies, taxes, disputes, charges, options to purchase, rights of first refusal or other pre-emptive rights in favour of third parties, restrictions on transfer of title, or other claims or encumbrances, whether or not they have attached or been perfected, registered, published or filed and whether secured, unsecured or otherwise (collectively, the "Encumbrances"), including without limiting the generality of the foregoing (i) all Encumbrances created by order of this Court, (ii) all charges, security interests or charges evidenced by registration, publication or filing pursuant to the Newfoundland and Labrador Personal Property Security Act, or any other applicable legislation providing for a security interest in personal or movable property, (iii) any Encumbrance in respect of the Employee Plans (including, without limitation, any funding or pension benefit obligations under the Pension Plans), or (iv) any Encumbrance for any occupational health, safety matters or any personal injury or other claims (including, without limitation, any asbestos-related, inhalable dust-related or silica-related claims, whether made to the WHSCC or otherwise) arising by reason of any occurrence prior to the Closing Time, and assessments to the WHSCC for the period prior to the Closing Time, excluding, in each case, (a) the permitted encumbrances, easements and 000-00-000000-000 Page 4 restrictive covenants listed on Schedule "B" hereto (the "Permitted Encumbrances"), (b) the Assumed Liabilities, (c) the Environmental Obligations, and

VESTING OF THE PURCHASED ASSETS. [1314] ORDERS AND DECLARES that upon the issuance of the a Monitor's certificate substantially in the form appended as Schedule "A" hereto (the “Monitor’s "Certificate”"), all rights, title and interest in and to the Purchased Assets shall vest free and clear, absolutely and exclusively in and with the Purchaser, free and clear of and from any and all rights, titles, benefits, priorities, claims (including claims provable in bankruptcy in the event that the Vendor should be adjudged bankrupt), liabilities (direct, indirect, absolute or contingent), liabilities, obligations, interests, prior claims, security interests (whether contractual, statutory or otherwise), liens, charges, hypothecs, mortgages, pledges, trusts, deemed trusts (whether contractual, statutory, or otherwise), assignments, judgments, executions, writs of seizure or execution, notices of sale, options, agreements, rights of distress, legal, equitable or contractual setoff, adverse claims, levies, taxes, disputes, debts, charges, options to purchase, rights of first refusal or other pre-emptive rights in favour of third parties, restrictions on transfer of title, or other claims or encumbrances, whether or not they have attached or been perfected, registered, published or filed and whether secured, unsecured or otherwise (collectively, the "Encumbrances"), including without limiting the generality of the foregoing (i) all Encumbrances created by order of this Court, (ii) Court and all charges, security interests or charges evidenced by registration, publication or filing pursuant to the Newfoundland and Labrador Personal Property Security ActCivil Code of Québec, or any other applicable legislation providing for a security interest in personal or movable property, (iii) any Encumbrance in respect and, for greater certainty, ORDERS that all of the Employee Plans (including, without limitation, any funding Encumbrances affecting or pension benefit obligations under the Pension Plans), or (iv) any Encumbrance for any occupational health, safety matters or any personal injury or other claims (including, without limitation, any asbestos-related, inhalable dust-related or silica-related claims, whether made relating to the WHSCC or otherwise) arising by reason of any occurrence prior to Purchased Assets, be expunged and discharged as against the Closing Time, and assessments to the WHSCC for the period prior to the Closing Time, excludingPurchased Assets, in each case, (a) case effective as of the permitted encumbrances, easements applicable time and 000-00-000000-000 Page 4 restrictive covenants listed on Schedule "B" hereto (date of the "Permitted Encumbrances"), (b) the Assumed Liabilities, (c) the Environmental Obligations, andCertificate.

VESTING OF THE PURCHASED ASSETS. [13] ORDERS AND and DECLARES that upon the issuance of the a Monitor's certificate substantially in the form appended as Schedule "A" hereto (the “Monitor’s "Certificate”"), all rights, title and interest in and to the Purchased Assets shall vest free and clear, absolutely and exclusively in and with the Purchaser, free and clear of and from any and all rights, titles, benefits, priorities, claims (including claims provable in bankruptcy in the event that the Vendor should be adjudged bankrupt), liabilities (direct, indirect, absolute or contingent), liabilities, obligations, interests, prior claims, security interests (whether contractual, statutory or otherwise), liens, charges, hypothecs, mortgages, pledges, trusts, deemed trusts (whether contractual, statutory, or otherwise), assignments, judgments, executions, writs of seizure or execution, notices of sale, options, agreements, rights of distress, legal, equitable or contractual setoff, adverse claims, levies, taxes, disputes, debts, charges, options to purchase, rights of first refusal or other pre-emptive rights in favour of third parties, restrictions on transfer of title, or other claims or encumbrances, whether or not they have attached or been perfected, registered, published or filed and whether secured, unsecured or otherwise (collectively, the "Encumbrances"), including without limiting the generality of the foregoing (i) all Encumbrances created by order of this Court, (ii) Court and all charges, security interests or charges evidenced by registration, publication or filing pursuant to the Newfoundland and Labrador Personal Property Security ActCivil Code of Québec, or any other applicable legislation providing for a security interest in personal or movable property, (iii) any Encumbrance in respect and, for greater certainty, ORDERS that all of the Employee Plans (including, without limitation, any funding Encumbrances affecting or pension benefit obligations under the Pension Plans), or (iv) any Encumbrance for any occupational health, safety matters or any personal injury or other claims (including, without limitation, any asbestos-related, inhalable dust-related or silica-related claims, whether made relating to the WHSCC or otherwise) arising by reason of any occurrence prior to Purchased Assets, be expunged and discharged as against the Closing Time, and assessments to the WHSCC for the period prior to the Closing Time, excludingPurchased Assets, in each casecase effective as of the applicable time and date of the Certificate. [14] ORDERS and DIRECTS the Monitor, upon receipt of (i) payment in full of the Purchase Price, Transfer Taxes (if any are payable) for remittance to the applicable taxation authorities in accordance with Applicable Law, in the amounts set out in the Conditons Certificates, and (ii) of each of the Conditions Certificates, to (a) issue forthwith its Certificate concurrently to the permitted encumbrances, easements Vendor and 000-00-000000-000 Page 4 restrictive covenants listed on Schedule "B" hereto (the "Permitted Encumbrances"), Purchaser; and (b) file forthwith after issuance thereof a copy of the Assumed LiabilitiesCertificate with the Court. [15] DECLARES that the Monitor shall be at liberty to rely exclusively on the Conditions Certificates in issuing the Certificate, without any obligation to independently confirm or verify the waiver or satisfaction of the applicable conditions. [16] AUTHORIZES and DIRECTS the Monitor to receive and hold the Purchase Price and to remit the Purchase Price in accordance with the provisions of this Order. NET PROCEEDS [17] ORDERS that any amounts payable to the Vendor in accordance with the Purchase Agreement (cthe “Proceeds”) shall be remitted to the Environmental ObligationsMonitor and shall, andsubject to the provisions of this Order, be held by the Monitor on behalf of the Vendor pending further order of the Court.

VESTING OF THE PURCHASED ASSETS. [1312] ORDERS AND and DECLARES that upon the issuance of the a Monitor's certificate substantially in the form appended as Schedule "A" hereto (the “Monitor’s "Certificate”"), all rights, title and interest in and to the Purchased Assets shall vest free and clear, absolutely and exclusively in and with the Purchaser, free and clear of and from any and all rights, titles, benefits, priorities, claims (including claims provable in bankruptcy in the event that the Vendors should be adjudged bankrupt), liabilities (direct, indirect, absolute or contingent), liabilities, obligations, interests, prior claims, security interests (whether contractual, statutory or otherwise), liens, charges, hypothecs, mortgages, pledges, trusts, deemed trusts (whether contractual, statutory, or otherwise), assignments, judgments, executions, writs of seizure or execution, notices of sale, options, agreements, rights of distress, legal, equitable or contractual setoff, adverse claims, levies, taxes, disputes, debts, charges, options to purchase, rights of first refusal or other pre-emptive rights in favour of third parties, restrictions on transfer of title, or other claims or encumbrances, whether or not they have attached or been perfected, registered, published or filed and whether secured, unsecured or otherwise (collectively, the "Encumbrances"" ), including without limiting the generality of the foregoing (i) all Encumbrances created by order of this Court, (ii) Court and all charges, security interests or charges evidenced by registration, publication or filing pursuant to the Civil Code of Québec, the Newfoundland and Labrador Personal Property Security Act, or any other applicable legislation providing for a security interest in personal or movable property, (iii) any Encumbrance in respect of the Employee Plans (includingexcluding however, without limitation, any funding or pension benefit obligations under the Pension Plans), or (iv) any Encumbrance for any occupational health, safety matters or any personal injury or other claims (including, without limitation, any asbestos-related, inhalable dust-related or silica-related claims, whether made to the WHSCC or otherwise) arising by reason of any occurrence prior to the Closing Time, and assessments to the WHSCC for the period prior to the Closing Time, excluding, in each case, (a) the permitted encumbrances, easements and 000-00-000000-000 Page 4 restrictive covenants listed on Schedule "B" hereto (the "Permitted Encumbrances")) and, for greater certainty, ORDERS that all of the Encumbrances affecting or relating to the Purchased Assets, other than the Permitted Encumbrances, be expunged and discharged as against the Purchased Assets, in each case effective as of the applicable time and date of the Certificate. [13] ORDERS and DECLARES that the Purchaser does not assume any obligations orLiabilities of the Vendors, other than (bi) the Assumed Liabilities, (cii) the Environmental Obligations, and(iii) other Liabilities to be assumed by the Purchaser in accordance with the Purchase Agreement, if any, and (iv) any other statutory obligations or Liabilities to be assumed by the Purchaser under Applicable Law. [14] ORDERS and DIRECTS the Monitor, upon receipt of (i) payment in full of the Cash Purchase Price, GST/HST and QST (if any is payable) for remittance to the applicable taxation authorities in accordance with Applicable Law, and of the Cure Costs payable by the Purchaser on Closing in the amounts set out in the Conditons Certificates, or in the case of Cure Costs, evidence that such Cure Costs have been paid by the Purchaser directly to the applicable counterparty, and (ii) of each of the Conditions Certificates, to (a) issue forthwith its Certificate concurrently to the Vendors and the Purchaser; and (b) file forthwith after issuance thereof a copy of the Certificate with the Court. [15] DECLARES that the Monitor shall be at liberty to rely exclusively on the Conditions Certificates in issuing the Certificate, without any obligation to independently confirm or verify the waiver or satisfaction of the applicable conditions. [16] AUTHORIZES and DIRECTS the Monitor to receive and hold the Cash Purchase Price and to remit the Cash Purchase Price in accordance with the provisions of this Order.

VESTING OF THE PURCHASED ASSETS. [1314] ORDERS AND DECLARES that upon the issuance of the a Monitor's certificate substantially in the form appended as Schedule "A" hereto (the “Monitor’s "Certificate”"), all rights, title and interest in and to the Purchased Assets shall vest absolutely and exclusively in and with the Purchaser, free and clear of and from any and all rights, titles, benefits, priorities, claims (including claims provable in bankruptcy in the event that the Vendor should be adjudged bankrupt), liabilities (direct, indirect, absolute or contingent), liabilities, obligations, interests, prior claims, security interests (whether contractual, statutory or otherwise), liens, charges, hypothecs, mortgages, pledges, trusts, deemed trusts (whether contractual, statutory, or otherwise), assignments, judgments, executions, writs of seizure or execution, notices of sale, options, agreements, rights of distress, legal, equitable or contractual setoff, adverse claims, levies, taxes, disputes, debts, charges, options to purchase, rights of first refusal or other pre-emptive rights in favour of third parties, restrictions on transfer of title, or other claims or encumbrances, whether or not they have attached or been perfected, registered, published or filed and whether secured, unsecured or otherwise (collectively, the "Encumbrances"), including without limiting the generality of the foregoing (i) all Encumbrances created by order of this Court, (ii) Court and all charges, security interests or charges evidenced by registration, publication or filing pursuant to the Newfoundland and Labrador Personal Property Security ActCivil Code of Québec, or any other applicable legislation providing for a security interest in personal or movable property, (iii) any Encumbrance in respect and, for greater certainty, ORDERS that all of the Employee Plans (including, without limitation, any funding Encumbrances affecting or pension benefit obligations under the Pension Plans), or (iv) any Encumbrance for any occupational health, safety matters or any personal injury or other claims (including, without limitation, any asbestos-related, inhalable dust-related or silica-related claims, whether made relating to the WHSCC or otherwise) arising by reason of any occurrence prior to Purchased Assets, be expunged and discharged as against the Closing Time, and assessments to the WHSCC for the period prior to the Closing Time, excludingPurchased Assets, in each case, (a) case effective as of the permitted encumbrances, easements applicable time and 000-00-000000-000 Page 4 restrictive covenants listed on Schedule "B" hereto (date of the "Permitted Encumbrances"), (b) the Assumed Liabilities, (c) the Environmental Obligations, andCertificate.

VESTING OF THE PURCHASED ASSETS. [13] ORDERS AND DECLARES that upon the issuance of the a Monitor's certificate substantially in the form appended as Schedule "A" hereto (the “Monitor’s "Certificate”"), all rights, title and interest in and to the Purchased Assets shall vest free and clear, absolutely and exclusively in and with the Purchaser, free and clear of and from any and all rights, titles, benefits, priorities, claims (including claims provable in bankruptcy in the event that any of the Vendors should be adjudged bankrupt), liabilities (direct, indirect, absolute or contingent), liabilities, obligations, interests, prior claims, security interests (whether contractual, statutory or otherwise), liens, charges, hypothecs, mortgages, pledges, trusts, deemed trusts (whether contractual, statutory, or otherwise), assignments, judgments, executions, writs of seizure or execution, notices of sale, options, agreements, rights of distress, legal, equitable or contractual setoff, adverse claims, levies, taxes, disputes, debts, charges, options to purchase, rights of first refusal or other pre-emptive rights in favour of third parties, restrictions on transfer of title, or other claims or encumbrances, whether or not they have attached or been perfected, registered, published or filed and whether secured, unsecured or otherwise (collectively, the "Encumbrances"), including without limiting the generality of the foregoing (i) all Encumbrances created by order of this Court, (ii) Court and all charges, security interests or charges evidenced by registration, publication or filing pursuant to the Newfoundland and Labrador Personal Property Security ActCivil Code of Québec, or any other applicable legislation providing for a security interest in personal or movable property, (iii) any Encumbrance in respect and, for greater certainty, ORDERS that all of the Employee Plans (including, without limitation, any funding Encumbrances affecting or pension benefit obligations under the Pension Plans), or (iv) any Encumbrance for any occupational health, safety matters or any personal injury or other claims (including, without limitation, any asbestos-related, inhalable dust-related or silica-related claims, whether made relating to the WHSCC or otherwise) arising by reason of any occurrence prior to Purchased Assets, be expunged and discharged as against the Closing Time, and assessments to the WHSCC for the period prior to the Closing Time, excludingPurchased Assets, in each case, (a) case effective as of the permitted encumbrances, easements applicable time and 000-00-000000-000 Page 4 restrictive covenants listed on Schedule "B" hereto (date of the "Permitted Encumbrances"), (b) the Assumed Liabilities, (c) the Environmental Obligations, andCertificate.

VESTING OF THE PURCHASED ASSETS. [13] ORDERS AND DECLARES that upon the issuance of the a Monitor's certificate substantially in the form appended as Schedule "A" hereto (the “Monitor’s "Certificate”"), all rights, title and interest in and to the Purchased Assets shall vest free and clear, absolutely and exclusively in and with the Purchaser, free and clear of and from any and all rights, titles, benefits, priorities, claims (including claims provable in bankruptcy in the event that the Vendors should be adjudged bankrupt), liabilities (direct, indirect, absolute or contingent), liabilities, obligations, interests, prior claims, security interests (whether contractual, statutory or otherwise), liens, charges, hypothecs, mortgages, pledges, trusts, deemed trusts (whether contractual, statutory, or otherwise), assignments, judgments, executions, writs of seizure or execution, notices of sale, options, agreements, rights of distress, legal, equitable or contractual setoff, adverse claims, levies, taxes, disputes, debts, charges, options to purchase, rights of first refusal or other pre-emptive rights in favour of third parties, restrictions on transfer of title, or other claims or encumbrances, whether or not they have attached or been perfected, registered, published or filed and whether secured, unsecured or otherwise (collectively, the "Encumbrances"), including without limiting the generality of the foregoing (i) all Encumbrances created by order of this Court, (ii) Court and all charges, security interests or charges evidenced by registration, publication or filing pursuant to the Newfoundland and Labrador Personal Property Security ActCivil Code of Québec, or any other applicable legislation providing for a security interest in personal or movable property, (iii) any Encumbrance in respect and, for greater certainty, ORDERS that all of the Employee Plans (including, without limitation, any funding Encumbrances affecting or pension benefit obligations under the Pension Plans), or (iv) any Encumbrance for any occupational health, safety matters or any personal injury or other claims (including, without limitation, any asbestos-related, inhalable dust-related or silica-related claims, whether made relating to the WHSCC or otherwise) arising by reason of any occurrence prior to Purchased Assets, be expunged and discharged as against the Closing Time, and assessments to the WHSCC for the period prior to the Closing Time, excludingPurchased Assets, in each case, (a) case effective as of the permitted encumbrances, easements applicable time and 000-00-000000-000 Page 4 restrictive covenants listed on Schedule "B" hereto (date of the "Permitted Encumbrances"), (b) the Assumed Liabilities, (c) the Environmental Obligations, andCertificate.

VESTING OF THE PURCHASED ASSETS. [13] ORDERS AND DECLARES that upon the issuance of the a Monitor's certificate substantially in the form appended as Schedule "A" hereto (the “Monitor’s "Certificate”"), all of Vendors’ rights, title and interest in and to the Purchased Assets shall vest free and clear, absolutely and exclusively in and with the Purchaser, free and clear of and from any and all rights, titles, benefits, priorities, claims (including claims provable in bankruptcy in the event that the Vendors should be adjudged bankrupt), liabilities (direct, indirect, absolute or contingent), liabilities, obligations, interests, prior claims, security interests (whether contractual, statutory or otherwise), liens, charges, hypothecs, mortgages, pledges, trusts, deemed trusts (whether contractual, statutory, or otherwise), assignments, judgments, executions, writs of seizure or execution, notices of sale, options, agreements, rights of distress, legal, equitable or contractual setoff, adverse claims, levies, taxes, disputes, debts, charges, options to purchase, rights of first refusal or other pre-emptive rights in favour of third parties, restrictions on transfer of title, or other claims or encumbrances, whether or not they have attached or been perfected, registered, published or filed and whether secured, unsecured or otherwise (collectively, the "Encumbrances"), including without limiting the generality of the foregoing (i) all Encumbrances created by order of this Court, (ii) Court and all charges, security interests or charges evidenced by registration, publication or filing pursuant to the Newfoundland and Labrador Personal Property Security ActCivil Code of Québec, or any other applicable legislation providing for a security interest in personal or movable property, (iii) any Encumbrance in respect and, for greater certainty, ORDERS that all of the Employee Plans (including, without limitation, any funding Encumbrances affecting or pension benefit obligations under the Pension Plans), or (iv) any Encumbrance for any occupational health, safety matters or any personal injury or other claims (including, without limitation, any asbestos-related, inhalable dust-related or silica-related claims, whether made relating to the WHSCC or otherwise) arising by reason of any occurrence prior to Purchased Assets, be expunged and discharged as against the Closing Time, and assessments to the WHSCC for the period prior to the Closing Time, excludingPurchased Assets, in each casecase effective as of the applicable time and date of the Certificate. [14] ORDERS that upon the issuance of the Certificate, the Vendors shall be authorized to take all such steps as may be necessary to effect the discharge of all Encumbrances registered against the Purchased Assets, including filing such financing change statements in any applicable provincial personal property registry as may be necessary, from any registration filed against the Vendors in such registry, provided that the Vendors shall not be authorized to effect any discharge that would have the effect of releasing any collateral other than the Purchased Assets, and the Vendors shall be authorized to take any further steps by way of further application to this Court. [15] ORDERS the Quebec Personal and Movable Real Rights Registrar, upon presentation of the required form with a true copy of this Order and the Certificate, to reduce the scope of the registrations carrying the following numbers in connection with the Purchased Assets (aas detailed in Schedule “B” hereto) in order to allow the permitted encumbrances, easements transfer to the Purchaser of the Purchased Assets free and 000-00-000000-000 Page 4 restrictive covenants listed on Schedule "B" hereto (the "Permitted Encumbrances"), (b) the Assumed Liabilities, (c) the Environmental Obligations, andclear of such registrations:

VESTING OF THE PURCHASED ASSETS. [13] ORDERS AND DECLARES that upon the issuance of the a Monitor's certificate substantially in the form appended as Schedule "A" hereto (the “Monitor’s "Certificate”"), all rightsright, title and interest in and to the Purchased Assets shall vest free and clear, absolutely and exclusively in and with the Purchaser, free and clear of and from any and all rights, titles, benefits, priorities, claims (including claims provable in bankruptcy in the event that the Vendor should be adjudged bankrupt), liabilities (direct, indirect, absolute or contingent), liabilities, obligations, interests, prior claims, security interests (whether contractual, statutory or otherwise), liens, charges, hypothecs, mortgages, pledges, trusts, deemed trusts (whether contractual, statutory, or otherwise), assignments, judgments, executions, writs of seizure or execution, notices of sale, options, agreements, rights of distress, legal, equitable or contractual setoff, adverse claims, levies, taxes, disputes, debts, charges, options to purchase, rights of first refusal or other pre-emptive rights in favour of third parties, restrictions on transfer of title, or other claims or encumbrances, whether or not they have attached or been perfected, registered, published or filed and whether secured, unsecured or otherwise (collectively, the "Encumbrances"" ), including without limiting the generality of the foregoing (i) all Encumbrances created by order of this Court, (ii) Court and all charges, security interests or charges evidenced by registration, publication or filing pursuant to the Newfoundland and Labrador Personal Property Security ActCivil Code of Québec, or any other applicable legislation providing for a security interest in personal or movable property, (iii) any Encumbrance in respect of the Employee Plans (includingexcluding however, without limitation, any funding or pension benefit obligations under the Pension Plans), or (iv) any Encumbrance for any occupational health, safety matters or any personal injury or other claims (including, without limitation, any asbestos-related, inhalable dust-related or silica-related claims, whether made to the WHSCC or otherwise) arising by reason of any occurrence prior to the Closing Time, and assessments to the WHSCC for the period prior to the Closing Time, excluding, in each case, (a) the permitted encumbrances, easements and 000-00-000000-000 Page 4 restrictive covenants listed on Schedule "B" hereto (the "Permitted Encumbrances")) and, (b) for greater certainty, ORDERS that all of the Assumed LiabilitiesEncumbrances affecting or relating to the Purchased Assets, (c) other than the Environmental ObligationsPermitted Encumbrances, andbe expunged and discharged as against the Purchased Assets, in each case effective as of the applicable time and date of the Certificate.