Approval and Vesting Order Sample Clauses
The Approval and Vesting Order clause establishes the court's formal authorization of a transaction and the transfer of rights or assets to a purchaser or beneficiary. In practice, this clause outlines the process by which a court order is obtained to approve the sale or transfer, and specifies when and how the legal title or interest in the assets vests in the new owner, often following satisfaction of certain conditions. Its core function is to provide legal certainty and finality to the transaction, ensuring that all parties recognize the legitimacy and enforceability of the transfer as sanctioned by the court.
Approval and Vesting Order. On or before the Closing Date, the Court shall have granted the Approval and Vesting Order, and the operation and effect of the Approval and Vesting Order shall not have been stayed, reversed or dismissed at the time of closing and no appeals of such Approval and Vesting Order shall be pending. If the condition set out in Section 4(a) is not satisfied or waived on or before the date that is fifteen (15) days after the Acceptance Date, the Vendor may terminate this Agreement by notice in writing to the Purchaser, in which event the Deposit, together with all interest accrued thereon, shall, subject to Section 2 of this Agreement, be returned to the Purchaser and the Vendor’s and the Purchaser’s obligations under this Agreement shall be null and void and of no further force or effect whatsoever.
Approval and Vesting Order. The Court shall have issued the Approval and Vesting Order approving this Agreement and the Transaction on or before May 4, 2018.
Approval and Vesting Order. The Approval and Vesting Order. The Vendor shall be responsible for the cost of obtaining and registering the Approval and Vesting Order.
Approval and Vesting Order. The Vendor agrees that it will diligently apply to the Court for the Approval and Vesting Order. The Purchaser shall promptly provide to the Vendor all such information and assistance within the Purchaser’s power as the Vendor may reasonably require to obtain the Court’s approval, including without limitation, such information as the Vendor may require to reasonably evaluate the Purchaser’s financial ability to perform its obligations under this Agreement.
Approval and Vesting Order. The Vendor covenants that forthwith after the execution of this Agreement it shall apply to the Court for the Approval and Vesting Order and give notice of such motion to the Landlord and to such other persons as may be required by law or designated in writing by the Purchaser as being persons that should be served.
Approval and Vesting Order. (a) If the IOC Waiver is obtained, as promptly as practicable following receipt of the IOC Waiver, the Sellers shall file a motion (the “AVO Motion”) seeking an order (the “Approval and Vesting Order”) of the Court for the approval of the sale of the Shares, such motion to be heard by the Court as soon as practicable.
(b) If the IOC Participation Right is not waived by January 10, 2022, the Sellers shall file the AVO Motion as soon as practicable thereafter to be heard on a date no earlier than one (1) Business Day after the date that the IOC Participation Conditions must be satisfied under this Agreement.
(c) The Approval and Vesting Order shall be substantially in the form attached as Schedule “J” hereto, with only such changes as the Purchaser and CCAA Parties shall approve, acting reasonably.
(d) Unless a shorter period is consented to by CFLCo, the Sellers shall provide at least ten (10) days’ notice to the service list as set forth in the Initial Order.
(e) Subject to the provisions of this Agreement, the CCAA Parties shall use their commercially reasonable efforts to seek the Approval and Vesting Order.
Approval and Vesting Order. The Seller shall forthwith upon its appointment by a Court as receiver of the Purchased Assets, apply to the Court for the Approval and Vesting Order and shall diligently take all reasonable steps to obtain the same on or before April 5, 2001.
Approval and Vesting Order. Subject to Section 5 of this Agreement, the Vendor agrees that it will diligently apply to the Court for the Approval and Vesting Order. The Purchaser shall promptly provide to the Vendor all such information and assistance within the Purchaser’s power as the Vendor may reasonably require to obtain the Court’s approval, including without limitation, such information as the Vendor may require to reasonably evaluate the Purchaser’s financial ability to perform its obligations under this Agreement.
Approval and Vesting Order. The Approval and Vesting Order.
Approval and Vesting Order. As promptly as possible, but in no event later than the date on which the U.S. Sale Motion is granted, Sellers shall cause the Canadian Debtors to file with the Canadian Court one or more motions (the “Approval and Vesting Order Motion”) seeking an order (the “Approval and Vesting Order”) of the Canadian Court approving this Agreement and the transactions contemplated herein, such order to include the following:
(a) the Transactions are approved, and that this Agreement is commercially reasonable and in the best interests of the Canadian Debtors and their stakeholders (it being recognized that such a determination is a finding of fact or conclusions of Law to be made by the Canadian Court as part of the Approval and Vesting Order);
(b) the execution of the Agreement by NNL on behalf of all the Canadian Debtors is authorized and approved, and the Canadian Debtors are authorized and directed to take such additional steps and execute such additional documents as may be necessary or desirable for the completion of the transactions contemplated in this Agreement and for the conveyance of the Canadian Debtors’ right, title and interest in the Acquired Assets to the Buyer;
(c) all of the Canadian Debtors’ right, title and interest in and to the Acquired Assets shall vest absolutely in the Buyer, free and clear of and from any and all Liens (other than Permitted Liens); and
(d) the sale of the Acquired Assets is exempt from the application of the Bulk Sales Act (Ontario).