No Amounts Owed Clause Samples
The "No Amounts Owed" clause establishes that, as of a certain date or event, neither party owes any outstanding payments or obligations to the other under the agreement. In practice, this clause is often included at the conclusion of a contract or upon termination, confirming that all financial and other obligations have been settled, such as payment for services rendered or reimbursement of expenses. Its core function is to provide certainty and closure, preventing future disputes over alleged unpaid amounts or lingering liabilities.
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No Amounts Owed. Executive acknowledges and agrees that the Company is current on all payments to the Executive under the Employment Agreement.
No Amounts Owed. As of the Closing, no amounts will be due by the Company to the Seller for any reason, including, but not limited to, for salary (accrued or otherwise) or repayment of debt.
No Amounts Owed. As of the Closing, the Company will not then owe any amount (whether absolute, contingent, or otherwise) with respect to any Company Contract, other than amounts reflected in the 1996 Balance Sheet, or, to the Knowledge of the Sellers, amounts incurred since the date thereof in the ordinary course of business consistent with past practices and this Agreement, which amounts will have been properly recorded in the accounts payable ledger of the Company.
No Amounts Owed. Except as disclosed in Exhibit “D” hereto, the Seller does not owe any material amount (whether absolute, contingent or otherwise) with respect to any Contract.
No Amounts Owed. As of the Closing Date, neither of the Sellers will owe any amount (whether absolute, contingent, or otherwise) with respect to any Acquired Contract, Real Property Lease or Personal Property Lease, other than amounts required to be set forth on the March Balance Sheet in accordance with generally accepted accounting principles consistent with the principles historically applied by the Company or amounts incurred since the date thereof in the ordinary course of business consistent with past practices, the Acquired Contracts, Real Property Leases or Personal Property Leases and this Agreement, which amounts will have been properly included on the Final Balance Sheet to the extent required by generally accepted accounting principles applied on a basis consistent with such principles that the Company has previously used.