Common use of Misallocated Assets Clause in Contracts

Misallocated Assets. (a) If, following the Closing, any right, property or asset not included in the Transferred Assets is found to have been transferred to, or retained by, an Acquired Company in error, either directly or indirectly (including as a result of the Restructuring Transactions), Buyer shall transfer, or shall cause its Affiliates (including the Acquired Companies) to transfer, at no additional cost to Parent, such right, property or asset as soon as practicable to Parent or its designated Subsidiary. (b) If, following the Closing, any right, property or asset included in the Transferred Assets is found to have been retained by Parent or any of its Subsidiaries in error, either directly or indirectly (including as a result of the Restructuring Transactions), Parent shall transfer, or shall cause its Subsidiaries to transfer, at no additional cost to Buyer, such right, property or asset as soon as practicable to Buyer or its designated Affiliate.

Appears in 2 contracts

Sources: Transaction Agreement, Transaction Agreement (L Brands, Inc.)

Misallocated Assets. (a) If, following the Closing, any right, property or asset not included in the Transferred Purchased Assets is found to have been transferred to, or retained by, an Acquired Company to Purchaser in error, either directly or indirectly (including as a result of the Restructuring TransactionsPre-Closing Reorganization), Buyer Purchaser shall transfer, or shall cause its Affiliates (including the Acquired CompaniesPurchased Entities) to transfer, at no additional cost to Parentcost, such right, property or asset (and any related Liability) as soon as practicable to Parent or its designated Subsidiary. (b) the Seller Entity indicated by Seller. If, following the Closing, any right, property or asset included in the Transferred Purchased Assets is found to have been retained by Parent Seller or any of its Subsidiaries in error, either directly or indirectly (including as a result of the Restructuring TransactionsPre-Closing Reorganization), Parent Seller shall transfer, or shall cause its Subsidiaries Subsidiary to transfer, at no additional cost to Buyercost, such right, property or asset (and any related Liability) as soon as practicable to Buyer Purchaser or its designated Affiliatean Affiliate (including a Purchased Entity) indicated by Purchaser.

Appears in 1 contract

Sources: Stock and Asset Purchase Agreement (Johnson Controls International PLC)