Intercompany Liabilities; Indebtedness; Release of Liens. (a) Prior to the Closing, Seller shall, and shall cause each of its Subsidiaries to, settle all intercompany accounts that are unpaid as of the Closing Date between the Acquired Company and its Subsidiaries, on the one hand, and Seller and its Subsidiaries (other than the Acquired Company and its Subsidiaries), on the other hand.
Appears in 2 contracts
Samples: Stock Purchase Agreement (La Cortez Energy, Inc.), Stock Purchase Agreement (Avante Petroleum S.A.)
Intercompany Liabilities; Indebtedness; Release of Liens. (a) Prior to the Closing, Seller Sellers shall, and shall cause each of its the Business Subsidiaries to, settle all intercompany accounts that are unpaid as of the Closing Date between the Acquired Company and its Business Subsidiaries, on the one hand, and Seller ARM and its Subsidiaries Affiliates (other than the Acquired Company and its Business Subsidiaries), on the other hand.
Appears in 1 contract
Intercompany Liabilities; Indebtedness; Release of Liens. (a) Prior to or on the ClosingClosing Date, Seller shall, and shall cause each of its Subsidiaries the Companies to, settle settle, repay or cancel all intercompany accounts that are unpaid as of the Closing Date between the Acquired Company and its SubsidiariesCompanies, on the one hand, and Seller and its Subsidiaries Affiliates (other than the Acquired Company and its SubsidiariesCompanies), on the other hand.
Appears in 1 contract
