Examples of Designated Buyer Affiliate in a sentence
Once the Threshold Adjustment is obtained in respect of any one of the aforementioned items, Buyer or the applicable Designated Buyer Affiliate shall provide to MDS a copy of the adjustment(s) received from the applicable third party within ten (10) days of receipt of same and the payment of any readjustment between the Parties based upon the information contained in such third party’s adjustments shall be made by the appropriate Party promptly thereafter.
MDS, Buyer and any Designated Buyer Affiliate will co-operate with one another in the conduct of any Tax audit or similar proceedings involving or otherwise relating to the Diagnostics Business (or the income therefrom or assets thereof).
Each Shared Contract will only be split upon the mutual agreement of MDS, Buyer (or, as applicable, the Designated Buyer Affiliate) and the applicable third party as to the terms of each of the contracts resulting from the split thereof.
Notwithstanding the foregoing, Buyer shall remain jointly and severally liable with such designated Affiliates of Buyer or OMERS Administration Corporation (or, as applicable, any Designated Buyer Affiliate) and shall cause all of its covenants and obligations hereunder to be observed and performed by such Affiliates.
Upon such Designated Buyer Affiliate executing and delivering to MDS such contract of adhesion, such Designated Buyer Affiliate shall be a Party and all references herein to Buyer (other than in Sections 3.2, 3.4, 3.5, 3.6, 4.2 and 6.2.1) shall include such Designated Buyer Affiliate as the context requires.
Upon notification to MDS of any such assignment by Buyer (or, as applicable, any Designated Buyer Affiliate), the applicable Affiliate (to which such assignment is made) shall become liable for the performance of the obligations assigned by Buyer (or, as applicable, any Designated Buyer Affiliate) to it.
Buyer and MDS shall use commercially reasonable efforts to cause each of the Shared Contracts to be split into two contracts, one with respect to the rights relating to the Diagnostics Business in Ontario and Quebec and, as applicable British Columbia, in favour of Buyer or the applicable Designated Buyer Affiliate and the other with respect to the rights not relating to such Diagnostics Business in favour of MDS.
Buyer and each Designated Buyer Affiliate shall notify the employees, customers, patients, directors, officers, securityholders and other Persons whose Personal Information is included within the Disclosed Personal Information that the Closing has taken place and Personal Information about them has been disclosed to Buyer and each Designated Buyer Affiliate to the extent and in the manner required by Applicable Law.
MDS acknowledges that the Purchase Price is inclusive of the purchase price consideration payable by Buyer or the applicable Designated Buyer Affiliate to MDS under a Regional Purchase Agreement.
For those Ontario Employees and Quebec Employees who join a Buyer’s Pension Plan that is a “registered pension plan” as that term is defined in subsection 248(1) of the ITA, MDS shall cause the Pension Plans in which such employees participated immediately prior to the Closing Time to recognize service of such employees with Buyer or the applicable Designated Buyer Affiliate after the Closing Time for purposes of vesting and eligibility for benefits.