Common use of Intercompany Accounts; Affiliate Agreements Clause in Contracts

Intercompany Accounts; Affiliate Agreements. Other than as set forth in Section 4.7 of the Disclosure Schedule, (a) Seller will cause all accounts receivable or payable (whether or not currently due or payable) under each Affiliate Agreement to be settled in full (without any premium or penalty) at or prior to the Closing and (b) the Transferred Companies' participation in all Affiliate Agreements will, in each case, be terminated and discharged without any further liability or obligation to the Transferred Companies thereunder (or any premium or penalty) effective at the Closing and upon terms and pursuant to instruments reasonably satisfactory to Buyer.

Appears in 2 contracts

Samples: Stock Purchase Agreement (Atlas Financial Holdings, Inc.), Stock Purchase Agreement (Atlas Financial Holdings, Inc.)

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Intercompany Accounts; Affiliate Agreements. Other than as set forth in Section 4.7 4.8 of the Disclosure Schedule, (a) Seller the Subject Companies will cause all accounts receivable or payable (whether or not currently due or payable) under each Affiliate Agreement to be settled in full (without any premium or penalty) at or prior to the Closing and (b) the Transferred Subject Companies' participation in all Affiliate Agreements will, in each case, be terminated and discharged without any further liability or obligation to the Transferred Subject Companies thereunder (or any premium or penalty) effective at the Closing and upon terms and pursuant to instruments reasonably satisfactory to Buyer.

Appears in 1 contract

Samples: Stock Purchase Agreement (Atlas Financial Holdings, Inc.)

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Intercompany Accounts; Affiliate Agreements. Other than as set forth in Section 4.7 4.10 of the Disclosure Schedule, (a) Seller will Sellers shall cause all accounts receivable or payable (whether or not currently due or payable) under each Affiliate Agreement to be settled in full (without any premium or penalty) at or prior to the Closing and (b) the Transferred Companies' each Company's participation in all Affiliate Agreements willshall, in each case, be terminated and discharged without any further liability or obligation to the Transferred Companies either Company thereunder (or any premium or penalty) effective at the Closing and upon terms and pursuant to instruments reasonably satisfactory to Buyer.

Appears in 1 contract

Samples: Stock Purchase Agreement (Pico Holdings Inc /New)

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