Custodial Rights definition
Custodial Rights shall have the meaning set forth in the Asset Purchase Agreement.
Custodial Rights means all right, title and interest of Seller in and to (i) the right to perform custodial services under the Custodial Agreements, including the right to receive the fees and other income thereunder and the right to be custodian of all Custodial Assets, (ii) the related custodial obligations as specified in each Custodial Agreement, but excluding any obligation that is a Retained Liability, (iii) the right of ownership, possession, control and use of any and all Custodial Files pertaining to performing custodial services as provided in the Custodial Agreements, and (iv) all other rights, powers and privileges of Seller as the custodian under the Custodial Agreements as expressly set forth therein or as deemed pursuant the Applicable Requirements.
Examples of Custodial Rights in a sentence
Buyers have (or will have prior to the Closing) sufficient authority to act as a custodian or trustee with respect to the Custodial Rights that constitute a part of the Purchased Assets in accordance with Applicable Law.
The enrollment pack consists of the following: Child Registration Form, Financial Responsibility Agreement, Identity Verification, Developmental Profile and Background Information, two (2) Emergency Care Agreements (each should be filled out) Website and Picture Release Form, School Entrance Form, Blanket Permission Slip, Opt out Form, Allergy Action Plan, Custodial Rights Information Form, Discipline Policy Agreement.
For avoidance of doubt, Collateral shall not include Custodial Assets, but shall include Custodial Rights.