Common use of Effective Date of the Sale Clause in Contracts

Effective Date of the Sale. In the event that the Closing is -------------------------- consummated, the parties hereto agree that the purchase and sale of the Securities shall be accounted for as if such transactions had occurred prior to the opening of business on January 1, 1998 (the "Effective Date"), regardless of when the Closing in fact occurs. In the event that the Closing is consummated, the Buyer shall realize any operating profit or loss from the operation of the business of the Acquired Company after the Effective Date. Accordingly, the Sellers agree to consult the Buyer on any material issues or contracts that relate to a period of time beyond the Effective Date. Furthermore, the Sellers agree not to enter into any new capital obligations or capital expenditures which relate to the Acquired Company prior to the Closing.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Agribiotech Inc), Stock Purchase Agreement (Agribiotech Inc)

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Effective Date of the Sale. In the event that the Closing is -------------------------- consummated, the parties hereto agree that the purchase and sale of the Securities Stock shall be accounted for as if such transactions had occurred prior to at the opening of business on January April 1, 1998 (the "Effective Date"), regardless of when the Closing in fact occurs. In the event that the Closing is consummated, the Buyer shall realize any operating profit or loss from the operation of the business of the Acquired Company Corporation after the Effective Date. Accordingly, the Sellers agree to consult the Buyer and ABT on any material issues or contracts that which relate to a period of time beyond the Effective Date. Furthermore, the Sellers agree not to enter into any new capital obligations or capital expenditures which relate to the Acquired Company Corporation prior to the Closing.

Appears in 1 contract

Samples: Stock Purchase Agreement (Agribiotech Inc)

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Effective Date of the Sale. In the event that the Closing is -------------------------- consummated, the parties hereto agree that the purchase and sale of the Securities Stock shall be accounted for as if such transactions had occurred prior to the opening of business on January 1, 1998 (the "Effective Date"), regardless of when the Closing in fact occurs. In the event that the Closing is consummated, the Buyer shall realize any operating profit or loss from the operation of the business of the Acquired Company Companies after the Effective Date. Accordingly, the Sellers agree Seller agrees to consult the Buyer on any material issues or contracts that which relate to a period of time beyond the Effective Date. Furthermore, except as provided in Section 11(c), the Sellers agree Seller agrees not to enter into any new capital obligations or capital expenditures which relate to the Acquired Company Corporation prior to the Closing.

Appears in 1 contract

Samples: Purchase Agreement (Agribiotech Inc)

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