Contribution Assets definition
Examples of Contribution Assets in a sentence
Furthermore, no claim may be made against Teekay for indemnification pursuant to Section 7.1(a) in connection with the Offshore Partnership Group and the Offshore Contribution Assets unless the aggregate dollar amount of all claims for indemnification by the Offshore Partnership Group pursuant to such section shall exceed $500,000, in which case Teekay shall be liable for claims for indemnification only to the extent such aggregate amount exceeds $500,000.
Furthermore, no claim may be made against Teekay for indemnification pursuant to Section 7.1(a) in connection with the LNG Partnership Group and the LNG Contribution Assets unless the aggregate dollar amount of all claims for indemnification by the LNG Partnership Group pursuant to such section shall exceed $500,000, in which case Teekay shall be liable for claims for indemnification only to the extent such aggregate amount exceeds $500,000.
To the extent that less than all of the Morgan Stanley Delayed Contribution Assets are being transferred on a Delayed Contribution Date, only the Morgan Stanley Delayed Contribution Liabilities related to such transferred Morgan Stanley Delayed Contribution Assets will be assumed on such date.
Alderon hereby covenants with the parties hereto that it will take all necessary actions to implement, give effect to and complete all necessary registrations and shall use all reasonable commercial efforts to secure all necessary consents for the transfer of the Alderon Initial Contribution Assets to the Limited Partnership as soon as possible on or after the date hereof.
The contribution of the Contribution Assets in exchange for the Contribution Consideration is intended by the Parties to constitute a tax-free partnership contribution pursuant to Section 721 of the Code.