Common use of Delayed Transfer Clause in Contracts

Delayed Transfer. If any consent referenced in Section 9.2 above is not obtained prior to the Effective Time, such Contract (other than Contracts pertaining to leased properties, which are addressed below) Third Party License, or equity interest shall remain with Agriliance until such time as consent is obtained. The party to which such Contract, Third Party License, or equity interest is to be assigned shall bear all economic consequences of such Contract, Third Party License, or equity interest after the Effective Time as if such had been assigned as of the Effective Time. Similarly, if a Title Commitment is not obtained with respect to any CPP Owned Real Property or CN Owned Real Property, or if consent to assign any of the CN Leased Real Property or the CPP Leased Real Property is not obtained, prior to the Effective Time, then such property shall remain with Agriliance until such Title Commitment or consent is obtained, and, during such interim period, the party to whom the property is to be distributed shall lease such property pursuant to the terms of that Master Lease Agreement attached hereto as

Appears in 2 contracts

Sources: Distribution Agreement, Distribution Agreement (CHS Inc)

Delayed Transfer. If any consent referenced in Section 9.2 above is not obtained prior to the Effective Time, such Contract (other than Contracts pertaining to leased properties, which are addressed below) Third Party License, or equity interest shall remain with Agriliance until such time as consent is obtained. The party to which such Contract, Third Party License, or equity interest is to be assigned shall bear all economic consequences of such Contract, Third Party License, or equity interest after the Effective Time as if such had been assigned as of the Effective Time. Similarly, if a Title Commitment is not obtained with respect to any CPP Owned Real Property or CN Owned Real Property, or if consent to assign any of the CN Leased Real Property or the CPP Leased Real Property is not obtained, prior to the Effective Time, then such property shall remain with Agriliance until such Title Commitment or consent is obtained, and, during such interim period, the party to whom the property is to be distributed shall lease such property pursuant to the terms of that Master Lease Agreement attached hereto asas Exhibit D. Also, those vehicles for which transfer is delayed shall be subject to the Vehicle Lease Agreements referenced in Article 10.1

Appears in 1 contract

Sources: Agreement Regarding Distribution of Assets (Land O Lakes Inc)