Indebtedness to Sellers. No Acquired Company has any outstanding loan or other indebtedness of any kind to any member of the Sellers’ Group.
Indebtedness to Sellers. Except for the payment of salaries and reimbursement for out-of-pocket expenses in the ordinary course of the Business, neither the Corporation nor any Subsidiary is indebted to any Seller or any director, officer or employee of the Corporation or any Affiliate of any of them.
Indebtedness to Sellers. Except for the payment of salaries and reimbursement for out-of-pocket expenses in the ordinary course of the Business, the Company is not indebted to any Seller or any director, officer or employee of the Company or any Affiliate or Associate of any of them.
Indebtedness to Sellers. The Company has no indebtedness to any Person not at arm’s length from the Company, including any Sellers, or to any director, officer, or employee of any Seller, or any Affiliate or Associate of any of them.
Indebtedness to Sellers. Any and all indebtedness of the Company to the Sellers shall have been cancelled and terminated, with no further obligations of the Company related thereto, and Purchaser shall have received evidence satisfactory to Purchaser thereof.
Indebtedness to Sellers. Except for the payment of salaries and other compensation payable in the ordinary course and reimbursement for out-of-pocket expenses in the ordinary course, indebtedness between the Purchased Companies and amounts disclosed in the Financial Statements and the Schedules, none of the Purchased Companies is indebted to the Sellers (or any affiliates of the Sellers) or any of its directors, officers or employees, or any Affiliate or associate thereof;
Indebtedness to Sellers. Buyer shall cause the Corporation to pay to Sellers $200,000 (all of which, for accounting purposes, shall be attributed to repayment of principal) in satisfaction of all indebtedness of Corporation to Sellers arising under one or more promissory notes or other evidences of indebtedness payable to Sellers. Such monies are to be paid to Sellers out of monies received by Corporation from Motorola de Mexico on account of amounts outstanding under invoices issued by Corporation to Motorola de Mexico or before the Closing Date. Buyer shall cause such amounts to be paid immediately upon receipt of funds from Motorola de Mexico, and in any event within 90 days after the Closing. Sellers shall deliver to Corporation the original promissory notes or instruments representing any indebtedness of Corporation to Sellers (other than salary to Barbara Vaughan payable in xxx xxxxxxxx xourse of business) marked to reflect that such indebtedness, regardless of its amount, has been paid in full upon payment in full of such $200,000 to Sellers.
