Privilege Assets definition
Examples of Privilege Assets in a sentence
Without limiting the generality of the foregoing, and subject thereto, at the Effective Time all of the assets, properties, rights, privileges, powers and franchises of the Company and Merger Sub (other than the Privilege Assets) shall vest in the Surviving Company, and all of the debts, liabilities, obligations, restrictions and duties of the Company and Merger Sub shall become the debts, liabilities, obligations, restrictions and duties of the Surviving Company.
Buyer shall not, and shall not permit any of its Affiliates (including, following the Closing, the Company) to, assert for any reason that any legal privilege (including the attorney-client privilege) has been waived as to the Privilege Assets.
Such documents and papers in the Firms’ client files (including any Privilege Assets) will not be provided to Buyer or the Company or their Affiliates or their successors or assigns following the Closing.
Without limiting the generality of the foregoing, from and after the Second Step Merger Effective Time, Successor Sub shall possess all properties, rights, privileges (other than the Privilege Assets), powers and franchises of the First Step Surviving Corporation and Successor Sub, and all of the Liabilities of the First Step Surviving Corporation and Successor Sub shall become the Liabilities of Successor Sub as the Surviving Entity.
Without limiting the generality of the foregoing, from and after the First Step Merger Effective Time, the Company shall possess all properties, rights, privileges (other than the Privilege Assets), powers and franchises of Merger Sub and the Company, and all of the Liabilities of the Company and Merger Sub shall become the Liabilities of the Company as the First Step Surviving Corporation.
The parties hereto hereby agree that, as to all Privilege Assets, the attorney-client privilege and the expectation of client confidence belongs to Sellers and shall be controlled by Sellers and shall not pass to or be claimed by Buyer or any of its Affiliates (including the Company) without the Sellers’ Representative’s prior written consent (which may be given or withheld in the Sellers’ Representative’s sole discretion).
The Buyer shall not, and shall not permit any of its Affiliates (including, following the Closing, the Company) to, assert for any reason that any legal privilege (including the attorney-client privilege) has been waived as to the Privilege Assets.