Investment Center. On December 20, 2001 the Company applied for an approved enterprise status from the Investment Center of the Israeli Ministry of Trade and Industry. Approval was granted on March 24, 2002. On October 19, 2004 the Investment Center approved an extension of the plan until March 23, 2005. On July 27, 2005 the Investment Center approved an extension of the plan until March 23, 2006 Negevtech maintains the following valid insurance policies: Medical Insurance Policy The policy covers the medical insurance of Israeli employees during their stay abroad for short periods and for relocation periods Professional & Product Liability Insurance Policy $5,000,000 Directors & Officers Liability Insurance Policy $5,000,000 Marine Cargo Insurance Policy $5,000,000 Property in business interruption to cover Negevtech Property $1,050,000 - $8,000,000 The coverage is for Negevtech Ltd., for more details please see Xxxxxx'x Hi-Tech Business Insurance Policy Third Party Liability $5,000,000 Employer Liability $9,000,000 Employees' Loyalty $250,000 Electronic Equipment $50,000 - $700,000 Business and Personal Property Insurance Policy Commercial Umbrella and Business & Personal Property Insurance policy $2,500 - $250,000 $5,000,000 The coverage is for Negevtech Inc. and Negevtech Ltd., for more details please See The Hatford's Policy Poalim Ventures Ltd. Poalim Ventures I Ltd. Poalim Ventures II L.P. SVE Star Ventures Enterprises Gmbh & Co. No. IX KG. Star Management of Investments No. II (2000) L.P. Star Growth Enterprise, a German Civil Law Partnership (with limitation of liability) Genesis Partners II, L.D.C. Genesis Partners II (Israel) L.P. Wellington Partners Ventures III Technology Fund L.P Amadeus III Amadeus III Affiliates Fund LP Intel Atlantic, Inc. Xxxxx Xxxxx Xxxx Xxxxx-Eldar Xxxxxx X. Xxxxxx* Xxxxxx Xxxxxxxxx (Keroub) Xxxxx Xxxxxxx Xxxxx Xxxxxxxxx Xxxxx Mor* Xxxxx Xxxxxx-Xxxxxx Xxxx Xxxxxxx Xxx Xxxxx Xxxxx Xxxxxx Xxxx Xxxxxxxx Xxxxxx Xxxxx Xxxx Xxxx September 28, 2006 * Also member of the Ref: 739/82 New York State Bar TO: The Investors Listed on Annex A Hereto Dear Sirs:
Investment Center. Section 2.6,........................ 11 IRS.............................................................................. Section 2.11(a),.................... 15 ISOs ............................................................................ Section 1.10(a),.................... 5
Investment Center. “Investment Center” shall have the meaning set forth in Section 2.13(b) of the Agreement.
Investment Center. “Investment Center” means the Investment Center of the Ministry of Economy and Industry established under the Israel Law for the Encouragement of Capital Investments, 1959.
Investment Center. The Sellers shall file an application (in the form agreed to by the Parties) with the Investment Center of the Israeli Ministry of Industry and Trade to assign all of the tax benefits arising from the Transferred Assets to Veraz commencing on the Effective Date.
Investment Center. Correct copies of all applications submitted by Seller to the Investment Center of the Ministry of Industry and Commerce for receipt of a status of Approved Enterprise under the Law for the Encouragement of Capital Investments, 1959, and all letters of approval, and supplements thereto, granted by the Investment Center of the Ministry of Industry and Commerce have been delivered to Buyer and are listed in SCHEDULE 4.9(c). Seller is in compliance with all such letters of approval, supplements thereto and with the Law for the Encouragement of Capital Investments, 1959 and the regulations promulgated thereunder.
Investment Center. The Seller hereby represents and warrants to the Buyer as follows:
(a) Seller has applied to the Investment Center to obtain, inter alia, an assignment of the Seller's approvals from the Investment Center and confirms that it is not aware of any impediment or reason or ground which would prevent or delay such approval by the Investment Center; and
(b) The aforesaid application has not been rejected or denied by the Investment Center.
Investment Center. DHG hereby warrants that it is an “Approved Enterprise” under the Law for Encouragement of Capital Investments, 1959, with respect to the following approved investment plans and corresponding certificate of approval: investment plan no. 99-1506-0-10553, and is in material compliance with the terms and provisions of such plan. As the Buyer is interested in assuming the rights and obligations of DHG under this plan as part of the transactions contemplated under this Agreement, the parties shall cooperate in order to receive any approvals required to be received from the Investment Center of the Israeli Ministry of Trade & Industry (“Investment Center”) for such transfer and assignment, to the extent possible (“Investment Center Approval”). Sellers shall bear all costs and expenses related to the assignment of its Approved Enterprise to the Buyer. Notwithstanding the aforesaid, DS and/or DHG shall be responsible for any breach by them of the terms and conditions of the aforementioned plan, including as a result of the transactions contemplated hereunder. It is hereby clarified that failure to obtain such approval shall not be deemed as a breach of this Agreement by DHG or by any Seller and shall not entitle Buyer to any remedies whatsoever.
Investment Center. 1.2(c)(v)........... 3
Investment Center. “Investment Center” means the Israeli Investment Center of the Israeli Ministry of Trade & Industry.
