CompUSA 2015 Annual Report Download - page 97
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Please find page 97 of the 2015 CompUSA annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.ARTICLE 8.
ADDITIONAL COVENANTS
8.1 Seller Intellectual Property .
(a)ExceptascontemplatedbythisAgreementandtheTransactionAgreements,Sellersagreethat,fromandaftertheClosingDate,theyshall
not,andtheyshallcausetheirrespectiveRepresentativesnotto,useanyoftheSellerIntellectualProperty.IfSellersoranyassigneeofSellersownsorhasany
rightorinterestinanySellerIntellectualPropertythatcannotbe,orforanyreasonisnot,assignedtoPurchaserattheClosing,Sellersshallgrantorcausetobe
grantedtoPurchaser,attheClosing,aworldwide,royalty-free,fullypaidup,perpetual,irrevocable,transferable,sublicensable,andexclusivelicensetoExercise
AllRightsinandtosuchSellerIntellectualProperty.
(b)IfPurchaserisunabletoenforceitsIntellectualPropertyRightsagainstathirdpartyasaresultofanyLegalRequirementthatprohibits
enforcementofsuchrightsbyatransfereeofsuchrights,SellersagreetoassigntoPurchasersuchrightsasmayberequiredbyPurchasertoenforceitsIntellectual
PropertyRightsinitsownname.IfsuchassignmentstilldoesnotpermitPurchasertoenforceitsIntellectualPropertyRightsagainstthethirdparty,Sellersagree
to initiate proceedings against such third party in the applicable Seller’s name; provided , however , that Purchaser shall be entitled to participate in such
proceedings;andprovidedfurtherthatPurchasershallberesponsibleforthecostsandexpensesofsuchproceedings.
8.2 Cooperation .AftertheClosing,upontherequestofPurchaser,Sellersshall(i)executeanddeliveranyandallfurthermaterials,documentsand
instrumentsofconveyance,transferorassignmentasmayreasonablyberequestedbyPurchasertoeffect,recordorverifythetransferto,andvestinginPurchaser,
ofSellers’ right,titleandinterest inandtothePurchasedAssets,free andclearofall Encumbrances, inaccordancewiththetermsofthisAgreement; and(ii)
cooperate with Purchaser, at Purchaser’s expense, to enforce the terms of any Purchased Contracts, including terms relating to confidentiality and Intellectual
Property Rights, and to contest or defend against any Proceeding relating to the Transaction. After the Closing, Sellers shall (a) reasonably cooperate with
PurchaserinitseffortstocontinueandmaintainforthebenefitofPurchaserthosebusinessrelationshipsofSellersexistingpriortotheClosingandrelatingtothe
Business;(b) refer toPurchaserallinquiriesrelatingtosuch Business; and(c)promptlydelivertoPurchaser (i) any mail,packagesandothercommunications
addressedtoSellerrelatingtotheBusinessand(ii)anypropertythataSellerreceivesandthatproperlybelongstoPurchaser.
8.3 Return of Purchased Assets and Excluded Assets .If,foranyreasonaftertheClosing,anyofthePurchasedAssetsorAssumedLiabilities
areultimately determined to beExcludedAssetsorExcluded Liabilities, respectively, or SelleracquirespossessionofPurchased Assets, orPurchaseracquires
possessionofExcludedAssets(includingwithoutlimitation cash and/or cash equivalents), respectively,thenwithoutdemandneeding to be made therefore (i)
Purchaser shall transfer and convey (without further consideration) to the applicable Seller, and such Seller shall accept, such Purchased Assets and acquired
ExcludedAssets;(ii)suchSellershallassume,andagreetopay,perform,fulfillanddischarge(withoutfurtherconsideration)suchAssumedLiabilitiesandshall
transferandconveytoPurchasersuchacquiredPurchased Assets(withoutfurtherconsideration),respectively; and(iii)PurchaserandsuchSellershallexecute
suchdocumentsorinstrumentsofconveyanceorassumptionandtakesuchfurtheractswhicharereasonablynecessaryordesirabletoeffectthetransferofsuch
PurchasedAssetsandacquiredExcludedAssetsbacktosuchSellerandthere-assumptionofsuchAssumedLiabilitiesandthere-deliverytoPurchaserofsuch
acquiredPurchasedAssetsbysuchSeller.
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