Common use of Insider Loans; Equity Ownership in Subsidiaries Clause in Contracts

Insider Loans; Equity Ownership in Subsidiaries. The Stockholders, at or prior to Closing, shall (i) repay to the Company any loan by the Company to such Stockholders and any other amount owed by the Stockholders to the Company; (ii) cause any guaranty or similar arrangement pursuant to which the Company has guaranteed the payment or performance of any obligations of such Stockholders to a third party to be terminated; and (iii) cease to own any direct equity interests in any Subsidiary of the Company. The Company shall use its best efforts to enable the Stockholders to accomplish the foregoing.

Insider Loans; Equity Ownership in Subsidiaries. The StockholdersSellers, at or prior to Closing, shall (i) repay to the Company any loan by the Company to such Stockholders Sellers and any other amount owed by the Stockholders Sellers to the Company; (ii) cause any guaranty or similar arrangement pursuant to which the Company has guaranteed the payment or performance of any obligations of such Stockholders Sellers to a third party to be terminated; and (iii) cease to own any direct equity interests in any Subsidiary of the Company. The Company shall use its commercially reasonable best efforts to enable the Stockholders Sellers to accomplish the foregoing.

Insider Loans; Equity Ownership in Subsidiaries. The StockholdersShareholders, at or prior to Closing, shall (i) repay to the Company any loan by the Company to such Stockholders Shareholders and any other amount owed by the Stockholders Shareholders to the Company; (ii) cause any guaranty or similar arrangement pursuant to which the Company has guaranteed the payment or performance of any obligations of such Stockholders Shareholders to a third party to be terminated; and (iii) cease to own any direct equity interests in any Subsidiary of the Company. The Company shall use its commercially reasonable best efforts to enable the Stockholders Shareholders to accomplish the foregoing.