Cash Disbursements. The Seller and the Executives will not cause the Company to make any disbursements of cash or any assets of material value to Executives between the Signing Date and the Closing Date, other than salary and payment and reimbursement of expenses in the Ordinary Course of Business; provided, however, that Seller and Executives shall be authorized to make disbursement of current Working Capital in excess of Three Million Seven Hundred and Fifty Thousand and 00/100 Dollars ($3,750,000.00).
Appears in 3 contracts
Samples: Share Purchase Agreement, Share Purchase Agreement (Iron Eagle Group, Inc.), Share Purchase Agreement (Iron Eagle Group, Inc.)
Cash Disbursements. The Seller and the Executives will not cause the Company to make any disbursements of cash or any assets of material value to Executives between the Signing Date and the Closing Date, other than (i) salary and payment and reimbursement of expenses expense in the Ordinary Course ordinary course of the Business; provided, however, that Seller and Executives shall be authorized (ii) monthly principal and interest payments necessary to make disbursement of current Working Capital in excess of Three Million Seven Hundred and Fifty Thousand and 00/100 Dollars ($3,750,000.00)discharge the Assumed Company Debt.
Appears in 2 contracts
Samples: Share Purchase Agreement, Share Purchase Agreement (Iron Eagle Group, Inc.)
