Common use of No Severance Payments Clause in Contracts

No Severance Payments. There are no agreements, --------------------- including, without limitation, any employment or consulting agreements to which the Company or any of its Subsidiaries is a party that will require the Company or any of its Subsidiaries to make a severance payment or incur or assume any other liability as a result of the transactions contemplated by this Agreement and the Ancillary Agreements, including, without limitation, any obligation to make any payments upon the occurrence of a change of control.

Appears in 3 contracts

Samples: Stock Purchase Agreement (Prometheus Homebuilders LLC), Stock Purchase Agreement (Prometheus Homebuilders Funding Corp), Stock Purchase Agreement (Prometheus Homebuilders Funding Corp)

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No Severance Payments. There are no agreements, --------------------- including, without limitation, any employment or consulting agreements to which the Company or any of its Subsidiaries is a party that will require the Company or any of its Subsidiaries to make a severance payment or incur or assume any other liability as a result of the transactions contemplated by this Agreement and the Ancillary Agreements, including, without limitation, any obligation to make any payments upon the occurrence of a change of control.

Appears in 1 contract

Samples: Stock Purchase Agreement (Fortress Group Inc)

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