Payments at Closing. On or before the Closing Date, the Company shall pay and discharge all outstanding liabilities (collectively, “Company Liabilities”). Such payments shall be made utilizing cash on hand on the Closing Date and the Purchase Price. Giving effect to these payments, it is the parties’ intent that the Company shall, on the Closing Date and as of the Closing, have no liabilities and no assets.
Appears in 2 contracts
Samples: Securities Purchase Agreement (Asianada, Inc.), Securities Purchase Agreement (Driftwood Ventures, Inc.)
Payments at Closing. On or before the Closing Date, the Company shall pay and discharge all outstanding liabilities (collectively, “Company Liabilities”). Such payments shall be made utilizing cash on hand on the Closing Date and the Purchase Price. Giving effect to these payments, it is the partiesParties’ intent that the Company shall, on the Closing Date and as of the Closing, have no liabilities and no assets.
Appears in 1 contract
Samples: Securities Purchase Agreement (Noble Medical Technologies, Inc.)
Payments at Closing. On or before the Closing Date, the Company shall pay and discharge all outstanding liabilities liabilities, including any outstanding loans payable to Current Record Stockholders (collectively, “"Company Liabilities”"). Such payments shall be made utilizing cash on hand on the Closing Date and the Purchase Price. Giving effect to these payments, it is the parties’ ' intent that the Company shall, on the Closing Date and as of the Closing, have no liabilities and no assets, other than $10,000.00 in cash.
Appears in 1 contract
Samples: Common Stock Purchase Agreement (R&r Acquisition Iv, Inc)
Payments at Closing. On or before the Closing Date, the Company shall pay and discharge all outstanding liabilities liabilities, including any outstanding loans payable to Current Record Stockholders (collectively, “"Company Liabilities”"). Such payments shall be made utilizing cash on hand on the Closing Date and the Purchase Price. Giving effect to these payments, it is the parties’ parties intent that the Company shall, on the Closing Date and as of the Closing, have no liabilities and no assets, other than $10,000.00 in cash.
Appears in 1 contract
Samples: Common Stock Purchase Agreement (R&r Acquisition Ii, Inc)