Consent and Acknowledgment. APIL hereby consents to the partial bifurcation of the Asset Transfer and License Agreement as it relates to the Assigned Rights and Obligations and the assignment by Recro Gainesville to Baudax of such Assigned Rights and Obligations. APIL hereby agrees that this Agreement satisfies any notice, consent or other procedural requirements under the Asset Transfer and License Agreement with respect to the assignment of the Assigned Rights and Obligations and acknowledges and agrees that, notwithstanding Section 2.4 of Exhibit D to the Asset Transfer and License Agreement, APIL shall have no further right of recourse against Recro Gainesville under the Asset Transfer and License Agreement with respect to the Assigned Rights and Obligations for periods after the Effective Time. APIL agrees to treat the Asset Transfer and License Agreement as partially bifurcated and assigned as set forth in Sections 2 and 3 hereof. Without limiting the generality of the foregoing, APIL shall communicate directly with Baudax as a third party beneficiary to the Asset Transfer and License Agreement with respect to the Assigned Rights and Obligations.
Appears in 3 contracts
Sources: Partial Assignment, Assumption and Bifurcation Agreement (Recro Pharma, Inc.), Partial Assignment, Assumption and Bifurcation Agreement (Baudax Bio, Inc.), Partial Assignment, Assumption and Bifurcation Agreement