Common use of Indebtedness to Target Clause in Contracts

Indebtedness to Target. Except for (i) the payment of salaries and reimbursement for out-of-pocket expenses in the ordinary and usual course, or (ii) amounts disclosed in the Disclosure Statement or the Target Financial Statements, the Target is not indebted to the Shareholder, any Related Party of the Shareholder or any directors, officers or employees of the Target, on any account whatsoever.

Appears in 2 contracts

Samples: Share Exchange Agreement (Qwick Media Inc.), Share Exchange Agreement

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Indebtedness to Target. Except for for: (ia) the payment of salaries and reimbursement for out-of-pocket expenses in the ordinary and usual course, or (iib) amounts disclosed in the Disclosure Statement or the Target Financial Statements, the Target is not indebted to the ShareholderShareholders, any Related Party of the Shareholder Shareholders or any directors, officers or employees of the Target, on any account whatsoever.

Appears in 2 contracts

Samples: Share Exchange Agreement (ALKALINE WATER Co INC), Share Exchange Agreement (Teckmine Industries Inc.)

Indebtedness to Target. Except for for: (ia) the payment of salaries and reimbursement for out-of-pocket expenses in the ordinary and usual course, or and (iib) amounts disclosed in the Target Disclosure Statement or the Target Financial Statements, the Target is not indebted to the any Target Shareholder, any Related Party of the Shareholder any Target Shareholder, or any directors, officers or employees Employee of the Target, on any account whatsoever.

Appears in 2 contracts

Samples: Securities Exchange Agreement, Merger Agreement

Indebtedness to Target. Except for for: (ia) the payment of salaries and reimbursement for out-of-pocket expenses in the ordinary and usual course, or ; and (iib) amounts disclosed in the Disclosure Statement or the Target Financial Statements, the Target is not indebted to the Shareholderany Target Vendor, any Related Party of the Shareholder any Target Vendor, or any directors, officers or employees Employee of the Target, on any account whatsoever.

Appears in 1 contract

Samples: Share Exchange Agreement

Indebtedness to Target. Except for for: (ia) the payment of salaries and reimbursement for out-of-pocket expenses in the ordinary and usual course, or and (iib) amounts disclosed in the Target Disclosure Statement or the Target Financial Statements, the Target is not indebted to the any Target Shareholder, any Related Party of the Shareholder any Target Shareholder, or any directors, officers or employees Employee of the TargetTarget or any Target Predecessor, on any account whatsoever.

Appears in 1 contract

Samples: Share Exchange Agreement (Be at TV, Inc.)

Indebtedness to Target. Except for for: (i) the payment of salaries and reimbursement for out-of-pocket expenses in the ordinary and usual course, ; or (ii) amounts disclosed in the Target Disclosure Statement or the Target Financial Statements, the Target is not indebted has no Indebtedness to the ShareholderAccepting Shareholders, any Related Party of the an Accepting Shareholder or any directors, officers or employees Employees of the Target, on any account whatsoever.

Appears in 1 contract

Samples: Share Exchange Agreement (Newcastle Resources Ltd.)

Indebtedness to Target. Except for for: (ia) the payment of salaries and reimbursement for out-of-pocket expenses in the ordinary and usual course, or ; and (iib) amounts due under the Target Convertible Notes; and (c) amounts disclosed in the Disclosure Statement or the Target Financial Statements, the Target is not indebted to the Shareholderany Target Vendor, any Related Party of the Shareholder any Target Vendor, or any directors, officers or employees Employee of the Target, on any account whatsoever.

Appears in 1 contract

Samples: Securities Exchange Agreement

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Indebtedness to Target. Except for for: (ia) the payment of salaries and reimbursement for out-of-pocket expenses in the ordinary and usual course, or (iib) amounts disclosed in the Target Disclosure Statement or the Target Financial Statements, the Target is not indebted to the ShareholderShareholders, any Related Party of the Shareholder Shareholders or any directors, officers or employees Employees of the Target, on any account whatsoever.

Appears in 1 contract

Samples: Share Exchange Agreement (Global System Designs, Inc.)

Indebtedness to Target. Except for for: (ia) the payment of salaries and reimbursement for out-of-pocket expenses in the ordinary and usual course, or (iib) amounts disclosed in the Target Disclosure Statement or the Target Financial Statements, the Target is not indebted to the ShareholderTarget Securityholders, any Related Party of the Shareholder Target Securityholders or any directorsEmployees, directors or officers or employees of the Target, on any account whatsoever.

Appears in 1 contract

Samples: Share Exchange Agreement (REVENUE.COM Corp)

Indebtedness to Target. Except for for: (i) the payment of salaries and reimbursement for out-of-pocket expenses in the ordinary and usual course, ; or (ii) amounts disclosed in the Target Disclosure Statement or the Target Financial Statements, the Target is not indebted has no Indebtedness to the ShareholderAccepting Shareholders, any Related Party of the a Shareholder or any directors, officers or employees Employees of the Target, on any account whatsoever.

Appears in 1 contract

Samples: Share Exchange Agreement (Newcastle Resources Ltd.)

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