Monday, May 4, 2009 |
12:24 - Bad Chrysler. Bad!
http://www.thetruthaboutcars.com/court-docs-reveal-dodge-viper-falls-into-bad-chrysl
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Shame on you for producing such a naughty car as the Viper! Into the attic with it.
Section 2.15 Viper. (a) Subject to Section 2.15(b) below, notwithstanding any provision of this Agreement to the contrary, (i) Seller may, at its option, sell Intellectual Property and Purchased Inventories that relate solely to Vehicle Production (as defined in the Transition Services Agreement) and are not necessary or useful in any other line of business (the “Viper Assets”) prior to the Closing Date in an arm’s-length transaction to a party other than Purchaser on terms and conditions reasonably acceptable to the Purchaser, provided that the right of the Seller to sell the Viper Assets shall terminate on June 8, 2009 if no binding written agreement to purchase the Viper Assets has been executed and delivered by a bona fide purchaser at such time, and (ii) in connection with any such sale, Seller and Purchaser, as applicable, shall grant to the purchaser of the Viper Assets on terms and conditions reasonably acceptable to the Purchaser a non-exclusive license of other Intellectual Property of the Seller necessary for Vehicle Production as currently conducted.
Not that it surprises me; it's not like the Viper was ever a cash cow. But it was a halo vehicle, and halo vehicles are notoriously hard to assess in value, considering that so much of said value is distributed evenly over all the rest of the cars in a marque's lineup; that's how it works.
Ah well. It's not like you can't always rent one...
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