No Damage to Assets. At the Closing Date the machinery, equipment, inventory, or other tangible property of the Company shall not have suffered loss or damage on account of fire, flood, accident, act of war, civil commotion, or any other cause or event beyond the reasonable power and control of the Company (whether or not similar to the foregoing), to an extent which substantially affects the value of the properties and assets of the Company. Loss or damage shall be considered to affect substantially the value of said properties and assets within the meaning of this subsection if the book value of such properties and assets so lost or damaged exceeds 5% in book value of all such tangible properties and assets.
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Samples: Stock Purchase Agreement (Gondwana Energy LTD / Ny), Stock Purchase Agreement (Navidec Financial Services, Inc.), Stock Purchase Agreement (Navidec Financial Services, Inc.)
No Damage to Assets. At the Closing Date the machinery, equipment, inventory, or other tangible property of the Company shall not have suffered non-insured or non-indemnified loss or damage on account of fire, flood, accident, act of war, civil commotion, or any other cause or event beyond the reasonable power and control of the Company (whether or not similar to the foregoing), to an extent which substantially affects the value of the properties and assets of the CompanyCompany . Loss or damage shall be considered to affect substantially the value of said properties and assets within the meaning of this subsection paragraph if the book value of such properties and assets so lost or damaged exceeds five percent (5% %) in book value of all such tangible properties and assets.
Appears in 2 contracts
Samples: Common Stock Purchase Agreement (Horizontal Ventures Inc), Common Stock Purchase Agreement (Horizontal Ventures Inc)
No Damage to Assets. At the Closing Date Date, the machinery, equipment, inventory, or other tangible property of the Company Acquiror shall not have suffered loss or damage on account of fire, flood, accident, act of war, civil commotion, or any other cause or event beyond the reasonable power and control of the Company Acquiror (whether or not similar to the foregoing), to an extent which substantially affects the value of the properties and assets of the CompanyAcquiror. Loss or damage shall be considered to affect substantially the value of said properties and assets within the meaning of this subsection paragraph if the book value of such properties and assets so lost or damaged exceeds five percent (5% %) in book value of all such tangible properties and assets.
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