Covenants of Transferee. (a) Transferee will, from time to time after the Closing Date when applicable, cooperate with Transferor, and execute and deliver to Transferor, any subordination, intercreditor or other similar agreement that is required by Transferor or any of its Subsidiaries or by any of Transferor’s or such Subsidiary’s third-party lenders or creditors. (b) Transferee acknowledges that the covenants contained in this Section 5.2 are reasonable and necessary to protect the legitimate interests of Transferor and constitute a material inducement to Transferor to enter into this Agreement and consummate the transactions contemplated hereby.
Appears in 2 contracts
Sources: Transfer and Assignment Agreement (Calyxt, Inc.), Transfer and Assignment Agreement (Calyxt, Inc.)