Nautilus 2006 Annual Report Download - page 89
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8
Article 2.6
Deliveries by Seller
. At the Transfer Completion, Seller shall deliver to Buyer the following:
2.6.1 Duly executed bills of sale or other instruments of transfer, in form and substance reasonably acceptable to Nautilus,
transferring ownership to Buyer of all tangible property listed in Schedule 3.5.4;
2.6.2 Duly executed assignments or, where necessary, subleases, in form and substance reasonably acceptable to Nautilus,
assigning or subleasing to Buyer all leasehold interests, if any, in the tangible property listed in Schedule 3.5.5;
2.6.3 Duly executed assignments or other instruments of transfer, in form and substance reasonably acceptable to Nautilus,
assigning and transferring to Buyer all of Seller’s interest in all Intellectual Property used in and related to the Business,
including that listed in Schedule 3.5.2, including, without limitation, an assignment of Seller’s trade name and trademarks
relating to the Business;
2.6.4 Duly executed assignments transferring to Buyer all of Seller’s rights and obligations under all contracts, licenses and
similar instruments used in and relating to the Business to which Seller is a party, in form and substance reasonably
acceptable to Nautilus, together with the written consent, if required, of the other party to such contracts, licenses and similar
instruments; and
2.6.5
The certificates and other documents to be delivered pursuant to Chapter 6 hereof.
Article 2.7
Deliveries by Buyer
. At the Closing, Buyer shall deliver to Seller the following:
2.7.1 The Purchase Price to Seller, by (i) crediting the US$2,000,000 option fee previously paid to Seller, and (ii) delivery of
U.S.$30,000,000 by transfer of the Option Exercise Deposit (including any additional shares or cash deposited by Nautilus
prior to Closing in accordance with the terms of the Escrow Agreement in order to increase the value of the Option Exercise
Deposit to U.S.$30,000,000) to an account designated by Seller in writing not less than three Business Days prior to the
Closing Date;
2.7.2
The certificates and other documents to be delivered pursuant to Chapter 7 hereof.