Common use of Misallocated Assets and Liabilities Clause in Contracts

Misallocated Assets and Liabilities. In the event that at any time or from time to time (whether prior to, on or after the Separation Date), any party hereto (or any Subsidiary of such party), shall receive or otherwise possess any asset or liability that was intended to be transferred to Spinco or its Subsidiaries pursuant to this Agreement or any Ancillary Agreement as part of the HDD Business, or that was inadvertently transferred to Spinco or its Subsidiaries but is determined not to have been part of the HDD Business, the party with the asset or liability shall promptly transfer, or cause to be transferred, or re-transfer such asset or liability to the Person entitled thereto and the Person entitled thereto shall assume or reassume such asset or liability. Prior to any such transfer, the Person receiving or possessing such asset shall hold such asset in trust for any such other Person.