Common use of Guarantees of Performance Clause in Contracts

Guarantees of Performance. Each Party hereby guarantees the complete and prompt performance by its Affiliates of all of their obligations and undertakings pursuant to this Agreement. If, subsequent to the consummation of the Distribution, either Parent or SpinCo shall be acquired by another entity (the “acquirer”) such that 50% or more of the acquired corporation’s common stock is held by the acquirer and its affiliates, the acquirer shall, by making such acquisition, simultaneously agree to jointly and severally guarantee the complete and prompt performance by the acquired corporation and any Affiliate of the acquired corporation of all of their obligations and undertakings pursuant to this Agreement and the acquired corporation shall cause such acquirer to enter into an agreement reflecting such guarantee. For the avoidance of doubt, the Merger shall not be deemed an acquisition for purposes of this Section 7.3.

Appears in 2 contracts

Samples: Tax Matters Agreement (SilverSun Technologies Holdings, Inc), Tax Matters Agreement (SilverSun Technologies Holdings, Inc)

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Guarantees of Performance. Each Party party hereby guarantees the complete and prompt performance by its Affiliates of all of their its obligations and undertakings pursuant to this Agreement. If, subsequent to the consummation of the DistributionSpin-off Transactions, either Parent Integra or SpinCo Spinco shall be acquired by another entity (the “acquirer”) such that 50% or more of the acquired corporation’s common stock is held by the acquirer and its affiliates, the acquirer shall, by making such acquisition, simultaneously agree to jointly and severally guarantee the complete and prompt performance by the acquired corporation and any Affiliate of the acquired corporation of all of their obligations and undertakings pursuant to this Agreement and the acquired corporation shall cause such acquirer to enter into an agreement reflecting such guarantee. For the avoidance of doubt, the Merger shall not be deemed an acquisition for purposes of this Section 7.3.

Appears in 2 contracts

Samples: Tax Matters Agreement (SeaSpine Holdings Corp), Tax Matters Agreement (SeaSpine Holdings Corp)

Guarantees of Performance. Each Party party hereby guarantees the complete and prompt performance by its Affiliates of all of their obligations and undertakings pursuant to this Agreement. If, subsequent to the consummation of the DistributionSpin-off Transactions, either Parent Demand Media or SpinCo Rightside shall be acquired by another entity (the “acquirer”) such that 50% or more of the acquired corporation’s common stock is held by the acquirer and its affiliates, the acquirer shall, by making such acquisition, simultaneously agree to jointly and severally guarantee the complete and prompt performance by the acquired corporation and any Affiliate of the acquired corporation of all of their obligations and undertakings pursuant to this Agreement and the acquired corporation shall cause such acquirer to enter into an agreement reflecting such guarantee. For the avoidance of doubt, the Merger shall not be deemed an acquisition for purposes of this Section 7.3.

Appears in 2 contracts

Samples: Tax Matters Agreement (Demand Media Inc.), Tax Matters Agreement (Rightside Group, Ltd.)

Guarantees of Performance. Each Party party hereby guarantees the complete and prompt performance by its Affiliates of all of their obligations and undertakings pursuant to this Agreement. If, subsequent to the consummation of the DistributionSpin-off Transactions, either Parent RemainCo or SpinCo shall be acquired by another entity (the “acquirer”) such that 50% or more of the acquired corporation’s common stock is held by the acquirer and its affiliates, the acquirer shall, by making such acquisition, simultaneously agree to jointly and severally guarantee the complete and prompt performance by the acquired corporation and any Affiliate of the acquired corporation of all of their obligations and undertakings pursuant to this Agreement and the acquired corporation shall cause such acquirer to enter into an agreement reflecting such guarantee. For the avoidance of doubt, the Merger shall not be deemed an acquisition for purposes of this Section 7.3. (1) Conform to Separation Agreements.

Appears in 1 contract

Samples: Tax Matters Agreement (Exterran Corp)

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Guarantees of Performance. Each Party party hereby guarantees the complete and prompt performance by the members of its Affiliates Affiliated Groups of all of their obligations and undertakings pursuant to this Agreement. If, subsequent to the consummation of the DistributionSpin-off Transactions, either Parent Questar or SpinCo QEP shall be acquired by another entity (the “acquirer”) such that 50% or more of the acquired corporation’s common stock is held by the acquirer and its affiliatesAffiliates, the acquirer shall, by making such acquisition, simultaneously agree to jointly and severally guarantee the complete and prompt performance by the acquired corporation and any Affiliate of the acquired corporation of all of their obligations and undertakings pursuant to this Agreement and the acquired corporation shall cause such acquirer to enter into an agreement reflecting such guarantee. For the avoidance of doubt, the Merger shall not be deemed an acquisition for purposes of this Section 7.3.

Appears in 1 contract

Samples: Tax Matters Agreement (Qep Resources, Inc.)

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