Common use of Contracts and Other Documents Clause in Contracts

Contracts and Other Documents. Section 3.1 (g) of the Seller Disclosure Memorandum sets forth a list of all Contracts to which Seller is a party (other than real property Leases, which are described in Section 3.1(f)) which include: (i) Contracts providing for payment or receipt of more than $5,000; (ii) Contracts granting, or consenting to the existence of, any Lien on or in any of the Transferred Assets in favor of any Person; (iii) Collective bargaining arrangements or other Contracts with any labor union; (iv) Contracts relating to the borrowing of money or the incurrence of any indebtedness for borrowed money, or the issuance of any letter of credit, or the guaranty of another Person's indebtedness, or Contracts of suretyship or relating to the repurchase of any goods or assets of any other Person; (v) Contracts granting to any Person a right of first refusal, first offer, option or similar preferential right to purchase or acquire any of its properties, assets or securities; (vi) Contracts limiting, restricting or prohibiting Seller from conducting any business anywhere in the United States of America or elsewhere in the world; (vii) joint venture or partnership agreements or other similar Contracts; (viii) Contracts of employment or for the retention of consultants or advisors or the furnishing of similar services by any third party; (ix) Contracts which indemnify any other Person or which are in the nature of a severance agreement or which would otherwise entitle any Person not a party to this Agreement to receive a payment based upon the consummation of the transactions contemplated hereby; or (x) any other Contract which is material to the operation of Seller or any of the Transferred Assets (the foregoing Contracts referred to as "MATERIAL CONTRACTS"). No default by Seller or any other party exists, or has been claimed or alleged by any Person, with respect to any Material Contract, and no event has occurred that, with notice or lapse of time or both, would constitute a default under any Material Contract. Other than as set forth on Seller's Disclosure Memorandum, no consent, approval, claim, authorization or waiver from, or notice to, any Governmental Authority or other Person is required in order to maintain in full force and effect any of the Contracts to which Seller is a party. Consents for assignment of all Materials Contracts have been obtained by Seller, and copies thereof have been given to Buyer.

Appears in 1 contract

Sources: Asset Purchase Agreement (Silverstar Holdings LTD)

Contracts and Other Documents. Section 3.1 (g) of the Seller Disclosure Memorandum Schedule 4.13 sets forth a list of all Contracts contracts to which Seller is a party (other than real property Leases, which are described in Section 3.1(f)Schedule 4.12) which include: (i) Contracts contracts providing for payment or receipt of more than $5,000; (ii) Contracts contracts granting, or consenting to the existence of, any Lien on or in any of the Transferred Assets in favor of any Person; (iii) Collective bargaining arrangements or other Contracts with any labor union; (iv) Contracts contracts relating to the borrowing of money or the incurrence of any indebtedness for borrowed money, or the issuance of any letter of credit, or the guaranty of another Personperson's indebtedness, or Contracts contracts of suretyship or relating to the repurchase of any goods or assets of any other Personperson; (viv) Contracts contracts granting to any Person person a right of first refusal, first offer, option or similar preferential right to purchase or acquire any of its properties, assets or securities; (viv) Contracts contracts limiting, restricting or prohibiting Seller from conducting any business anywhere in the United States of America or elsewhere in the world; (viivi) joint venture or partnership agreements or other similar Contractscontracts; (viiivii) Contracts contracts of employment or for the retention of consultants or advisors or the furnishing of similar services by any third party; (ixviii) Contracts contracts which indemnify any other Person person or which are in the nature of a severance agreement or which would otherwise entitle any Person person not a party to this Agreement to receive a payment based upon the consummation of the transactions contemplated hereby; or (xix) any other Contract contract which is material to the operation of Seller or any of the Transferred Assets (the foregoing Contracts contracts referred to as "MATERIAL CONTRACTSMaterial Contracts"). No default by Seller or any other party exists, or has been claimed or alleged by any Person, with respect to any Material Contract, and to the best knowledge of Seller, no event has occurred that, with notice or lapse of time or both, would constitute a default under any Material Contract. Other than as set forth on Seller's Disclosure Memorandum, no No consent, approval, claim, authorization or waiver from, or notice to, any Governmental Authority Entity or other Person person is required in order to maintain in full force and effect any of the Material Contracts to which Seller is a party. Consents for assignment of all Materials Material Contracts have been obtained obtained, or by the Closing Date shall have been obtained, by Seller, and copies thereof have been given will be delivered to BuyerBuyer at the Closing.

Appears in 1 contract

Sources: Asset Purchase Agreement (Smart & Final Inc/De)