Common use of Wrong Pocket Assets Clause in Contracts

Wrong Pocket Assets. If at any time or from time to time after the Closing Date, a Seller any of its Affiliates, on the one hand, or Purchaser or any of its Affiliates, on the other, shall receive or otherwise possess any asset (including cash) that should belong to Purchaser or its Affiliates, on the one hand, or Seller or its Affiliates, on the other, pursuant to this Agreement, such Person shall promptly transfer, or cause to be transferred, such asset to the Person so entitled thereto. Prior to any such transfer in accordance with this ‎Section 6.17, the Person receiving or possessing such asset shall hold such asset in trust for such other Person.

Appears in 4 contracts

Samples: Asset Purchase Agreement (Ani Pharmaceuticals Inc), Asset Purchase Agreement (Ani Pharmaceuticals Inc), Asset Purchase Agreement (Ani Pharmaceuticals Inc)

AutoNDA by SimpleDocs

Wrong Pocket Assets. If at any time or from time to time after the Closing Date, a Seller any of its Affiliatesthe Seller, on the one hand, or the Purchaser or any of its Affiliates, on the other, shall receive or otherwise possess any asset (including cash) that should belong to the Purchaser or its Affiliates, on the one hand, or Seller or its Affiliatesthe Seller, on the other, pursuant to this Agreement, such Person shall promptly transfer, or cause to be transferred, such asset to the Person so entitled thereto. Prior to any such transfer in accordance with this ‎Section 6.17Section 5.26, the Person receiving or possessing such asset shall hold such asset in trust for such other Person.

Appears in 1 contract

Samples: Asset Purchase Agreement

AutoNDA by SimpleDocs

Wrong Pocket Assets. If at any time or from time to time after the Closing Date, a Seller any of its Affiliates, on the one hand, or Purchaser or any of its Affiliates, on the other, shall receive or otherwise possess any asset (including cash) that should belong to Purchaser or its AffiliatesPurchaser, on the one hand, or Seller or its AffiliatesSeller, on the other, pursuant to this Agreement, such Person shall promptly transfer, or cause to be transferred, such asset to the Person so entitled thereto. Prior to any such transfer in accordance with this ‎Section 6.176.19, the Person receiving or possessing such asset shall hold such asset in trust for such other Person.

Appears in 1 contract

Samples: Asset Purchase Agreement (Ani Pharmaceuticals Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!