Liability Issues and Proceedings Sample Clauses

Liability Issues and Proceedings. (i) Except as provided in Section 1.03(E), Purchaser has no liability for, and Seller shall be solely responsible for and shall pay, all Taxes, including but not limited to accrued and unpaid Taxes, (and any costs or expenses connected therewith) relating to the business or operations of the Purchase Entities and the Assets for all Tax periods ending on or before the Closing Date, and shall indemnify and hold harmless Purchaser and the Purchase Entities with respect thereto. (ii) Seller has no liability for, and Purchaser shall be solely responsible for and shall pay, all Taxes (and any costs or expenses connected therewith) relating to the business or operations of the Purchase Entities and the Assets for all Tax periods ending after the Closing Date, and shall indemnify and hold harmless Seller with respect thereto. (iii) Except as otherwise set forth in this Agreement, to the extent any refunds or credits with respect to Taxes paid by the Purchase Entities or any of their affiliates are attributable to Tax periods ending on or before the Closing Date, such refunds or credits shall be for the account of Seller. Any refunds or credits with respect to Taxes paid by the Purchase Entities for any Tax period ending after the Closing Date, shall be for the account of Purchaser. Purchaser shall cause the Purchase Entities to forward to Seller or to reimburse Seller for any such refunds or credits for the account of Seller within 10 business days from receipt or application thereof by Purchaser or the Purchase Entities. Seller shall forward to Purchaser or reimburse Purchaser for any refunds or credits for the account of Purchaser within 10 business days from receipt or application thereof by Seller. Any refunds or reimbursements not made within the 10 business day period specified above shall bear interest from the date received or applied by the refunding or reimbursing party at the prime rate as published in the Money Rates section of the Wall Street Journal on the first business day of each month. (iv) Purchaser shall provide Seller with prompt notice of any inquiries, audits, examinations or proposed adjustments by the IRS or any Tax authorities, which relate to Taxes which could give rise to a liability of Seller to Purchaser under this Agreement (a “Liability Issue”).
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Related to Liability Issues and Proceedings

  • Actions and Proceedings Lender has the right to appear in and defend any action or proceeding brought with respect to the Property and to bring any action or proceeding, in the name and on behalf of Borrower, which Lender, in its discretion, decides should be brought to protect its interest in the Property.

  • Suits and Proceedings To Seller’s Knowledge, except as listed in Exhibit H, there are no legal actions, suits or similar proceedings pending and served, or threatened in writing against Seller or the Property which (i) are not adequately covered by existing insurance and (ii) if adversely determined, would materially and adversely affect the value of the Property, the continued operations thereof, or Seller’s ability to consummate the transactions contemplated hereby.

  • Investigations and Proceedings The parties to this Agreement agree to cooperate fully in any securities regulatory investigation or proceeding or any judicial proceeding with respect to each party’s activities under this Agreement and promptly to notify the other party of any such investigation or proceeding.

  • Actions, Suits and Proceedings There are no actions, suits or proceedings by or before any arbitrator or Governmental Authority now pending against or, to the knowledge of the Borrower, threatened against or affecting any Group Member that, if adversely determined, could reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect or that involve this Agreement or the Transactions.

  • Litigation and Proceedings There are no actions, suits, proceedings, or investigations pending or, to the knowledge of the Company after reasonable investigation, threatened by or against the Company or affecting the Company or its properties, at law or in equity, before any court or other governmental agency or instrumentality, domestic or foreign, or before any arbitrator of any kind. The Company does not have any knowledge of any material default on its part with respect to any judgment, order, injunction, decree, award, rule, or regulation of any court, arbitrator, or governmental agency or instrumentality or of any circumstances which, after reasonable investigation, would result in the discovery of such a default.

  • Claims and Proceedings 14 3.17 Taxes...................................................................15 3.18 Personnel...............................................................16

  • Judgment and Proceedings (1) The entry of any judgment or decree against Servicer or any of its respective Subsidiaries if the aggregate amount of all judgments and decrees then outstanding against Servicer and its Subsidiaries exceeds $1,000,000, (2) the institution of any litigation, arbitration proceeding or governmental proceeding against Servicer that could, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect and (3) the entry of any judgment or decree or the institution of any litigation, arbitration proceeding or governmental proceeding against Seller.

  • Litigation; Governmental Proceedings There is no action, suit, proceeding, inquiry, arbitration, investigation, litigation or governmental proceeding pending or, to the Company’s knowledge, threatened against, or involving the Company or, to the Company’s knowledge, any executive officer or director which has not been disclosed in the Registration Statement, the Pricing Disclosure Package and the Prospectus or in connection with the Company’s listing application for the listing of the Public Securities on the Exchange.

  • Litigation; Proceedings Except as specifically disclosed in Schedule 3.1(g), there is no action, suit, notice of violation, proceeding or investigation pending or, to the best knowledge of the Company, threatened against or affecting the Company or any of its Subsidiaries or any of their respective properties before or by any court, governmental or administrative agency or regulatory authority (federal, state, county, local or foreign) which (i) relates to or challenges the legality, validity or enforceability of any of the Transaction Documents, the Shares or the Underlying Shares, (ii) could, individually or in the aggregate, have a Material Adverse Effect or (iii) could, individually or in the aggregate, materially impair the ability of the Company to perform fully on a timely basis its obligations under the Transaction Documents.

  • Actions; Proceedings There are no actions, suits or proceedings pending or, to the knowledge of the Assignor, threatened, before or by any court, administrative agency, arbitrator or governmental body (A) with respect to any of the transactions contemplated by this Assignment Agreement or (B) with respect to any other matter that in the judgment of the Assignor will be determined adversely to the Assignor and will, if determined adversely to the Assignor, materially adversely affect its ability to perform its obligations under this Assignment Agreement.

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