Define: Legal Impediment

How is Legal Impediment defined in a legal contract?

• Legal Impediment means a constraint discerned within the law that hinders or restrains the transfer of a business asset or the assumption of a business obligation concerning the revamp of a business operation as of a determined date. Seen in 6 SEC filings.
• Legal Impediment means a restriction within the law that prevents or limits the transfer of a new corporate asset or the assumption of a new corporate liability as it may concern the contribution as of the contribution date. Seen in 5 SEC filings.
• Legal Impediment means a statutory obstacle that prevents or restricts the transfer of an asset or the taking on of an assumed liability on a determined closing date. Seen in 3 SEC filings.

Please note that definitions related to specific organizations and locations have been omitted to retain the global applicability of the definitions.

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for 'Definitions of legal impediment' yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

• 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 Contract Types

• Asset Purchase Agreement
• Business Transfer Agreement
• Mergers and Acquisitions Agreement

Relevant Circumstances

• Transfer of business assets
• Assumption of business liabilities
• Restructuring of business operations

Relevant Sectors

• Real Estate
• Telecommunications
• Manufacturing
• Banking and Finance

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Genie Definition 2

• Legal Impediment means legal constraints that prevent or limit the transfer of a [new corporate asset] or the assumption of a [new corporate liability] within a [contribution period].

Relevant Contract Types

• Shareholders Agreement
• Investment Agreement
• Joint Venture Agreement

Relevant Circumstances

• Transfer of new corporate assets
• Assumption of new corporate liabilities
• Contributions to joint ventures

Relevant Sectors

• Technology
• Healthcare
• Energy
• Construction

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