Payment and Expenses of Other Parties. Company, Parent and Sub agree that if subsequent to the Closing Date any of them shall receive any payment due to another party each shall promptly remit the same to the other (net of any tax imposed upon either party in respect of the receipt of such payment), and if any party shall pay any obligations of the other not assumed by it hereunder, the payment shall be for the account of the party to whom the obligation relates and such party shall promptly reimburse the other party for any such payment.
Appears in 4 contracts
Samples: Promissory Note Conversion Agreement (Canfield Medical Supply, Inc.), Merger Agreement (NuGene International, Inc.), Merger Agreement (Bling Marketing, Inc.)
Payment and Expenses of Other Parties. Company, The Company and Parent and Sub agree that if subsequent to the Closing Date any of them shall receive any payment due to another party each shall promptly remit the same to the other (net of any tax imposed upon either party in respect of the receipt of such the payment), and if any party shall pay any obligations of the other not assumed by it hereunderunder this Agreement, the payment shall be for the account of the party to whom the obligation relates and such that party shall promptly reimburse the other party for any such paymentparty.
Appears in 2 contracts
Samples: Merger Agreement (Big Clix, Corp.), Merger Agreement (Mondial Ventures Inc)
Payment and Expenses of Other Parties. CompanyTarget, Parent and Sub agree that if subsequent to the Closing Date any of them shall receive any payment due to another party each shall promptly remit the same to the other (net of any tax imposed upon either party in respect of the receipt of such payment), and if any party shall pay any obligations of the other not assumed by it hereunder, the payment shall be for the account of the party to whom the obligation relates and such party shall promptly reimburse the other party for any such payment.
Appears in 2 contracts
Samples: Reorganization and Asset Acquisition Agreement, Reorganization and Asset Acquisition Agreement (Green 4 Media, Inc.)
Payment and Expenses of Other Parties. The Company, Parent and Sub agree that if subsequent to the Closing Date any of them shall receive any payment due to another party each shall promptly remit the same to the other (net of any tax imposed upon either party in respect of the receipt of such payment), and if any party shall pay any obligations of the other not assumed by it hereunder, the payment shall be for the account of the party to whom the obligation relates and such party shall promptly reimburse the other party for any such payment.
Appears in 2 contracts
Samples: Merger Agreement (Cellteck Inc.), Merger Agreement (Cascade Technologies Corp)
Payment and Expenses of Other Parties. Company, Parent and Sub agree that if subsequent to the Closing Date any of them shall receive any payment due to another party each shall promptly remit the same to the other (net of any tax imposed upon either party in respect of the receipt of such payment), and if any party shall pay any obligations of the other not assumed by it hereunder, the payment shall be for the account of the party to whom the obligation relates and such party shall promptly reimburse the other party for any such payment.. Canfield/Splash Agreement and Plan of Merger
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