Assignment of Business Contracts. (a) In respect of those Business Contracts (other than the Consent Contracts), this Agreement shall constitute an assignment to the Purchaser of the benefit of and the assumption of the debts, liabilities and obligations (in accordance with clause 7.1) under all such Business Contracts with effect from the Completion Date. (b) In respect of those Consent Contracts, this Agreement shall constitute an assignment of the benefit of and the assumption of the debts, liabilities and obligations (in accordance with clause 7.1) under any such Consent Contract with effect from the later of the Completion Date and any Consent being obtained or the novation of such Business Contract pursuant to clause 9.2.
Appears in 2 contracts
Sources: Asset Purchase and License Agreement, Asset Purchase and License Agreement (Orchard Rx LTD)