Define: Legal Impediment
Legal Impediment means a statutory obstacle hindering the transfer of a [business asset] or the assumption of a [business liability], as applicable to [business operation restructuring], effective from a [determined date].
Legal accuracy standard set & glossary spot-checked by Imad Mohammed Nazar , Skadden-trained M&A lawyer, Legal Engineer at GenieAI
Legal Impediment means a statutory obstacle hindering the transfer of a [business asset] or the assumption of a [business liability], as applicable to [business operation restructuring], effective from a [determined date].
Relevant Circumstances
- Transfer of business assets
- Assumption of business liabilities
- Restructuring of business operations