Examples of Excluded Assets in a sentence
Subject to the terms and conditions set forth herein, Pronto shall sell, assign, transfer, convey and deliver to City, and City shall purchase from Pronto, all of Pronto's rights, title and interest in the assets set forth on Exhibit A attached hereto (the "Purchased Assets"), free and clear of any mortgage, pledge, lien, charge, security interest, claim or other encumbrance ("Encumbrance"), provided that the Purchased Assets shall not include any cash on hand at the Closing (the "Excluded Assets").
The Parties agree that in the event Pronto has any cash on hand remaining from the Excluded Assets (such amount, a "Dissolution Excess") after it has wound-up and dissolved its business and received all required certificates and approvals and all relevant waiting periods have expired pursuant to Section 6.2 of this Amendment and applicable law, such Dissolution Excess, if any, shall be delivered to the City and become a "Purchased Asset" for purposes of this Amendment.