Common use of Third Party Assets Clause in Contracts

Third Party Assets. 6.1 The Purchaser acknowledges that the Assets or some of them may be subject to Third Party Claims and in respect of such assets the Purchaser warrants that: 6.1.1 it will hold such Assets separate from any assets in its ownership and shall not sell, lease, charge, encumber or otherwise dispose of the same nor any interest therein and shall keep the same in the same repair and condition as at the date hereof; and 6.1.2 upon written request of the Insolvency Practitioner the Purchaser shall either return the Assets listed or refered to in such request to the Insolvency Practitioner or, at the option of the Insolvency Practitioner, deal with the Supplier or other third party in respect of any Third Party Claim affecting the Assets; and 6.1.3 the Purchaser will not be entitled to rescind this Agreement or claim any repayment of the Purchase Price or any compensation in respect of any Third Party Claim. 6.2 The Purchaser will keep the Vendor and the Insolvency Practitioner indemnified against all costs claims demands and expenses arising out of or in connection with any Third Party Claim and/or any failure by the Purchaser to honour its obligations contained in this clause

Third Party Assets. 6.1 The Purchaser acknowledges that the Assets or some of them may be subject to Third Party Claims and in respect of such assets the Purchaser warrants that: 6.1.1 it will hold such Assets separate from any assets in its ownership and shall not sell, lease, charge, encumber or otherwise dispose of the same nor any interest therein and shall keep the same in the same repair and condition as at the date hereof; and 6.1.2 upon written request of the Insolvency Practitioner the Purchaser shall either return the Assets listed or refered to in such request to the Insolvency Practitioner or, at the option of the Insolvency Practitioner, deal with the Supplier or other third party in respect of any Third Party Claim affecting the Assets; and 6.1.3 the Purchaser will not be entitled to rescind this Agreement or claim any repayment of the Purchase Price or any compensation in respect of any Third Party Claim. 6.2 The Purchaser will keep the Vendor and the Insolvency Practitioner indemnified against all costs claims demands and expenses arising out of or in connection with any Third Party Claim and/or any failure by the Purchaser Purhcaser to honour its obligations contained in this clause