POST-CLOSING RELATIONSHIP Sample Clauses

POST-CLOSING RELATIONSHIP. If, following the Closing Date, Seller receives any funds, documents or instruments which constitute or are delivered in respect of Assets transferred to Purchaser pursuant to this Agreement, Seller agrees to hold such funds, documents or instruments for the benefit of Purchaser and redeliver such items to Purchaser. If, following the Closing Date, Purchaser receives any funds, documents or instruments which constitute or are delivered in respect of Excluded Assets retained by Seller pursuant to this Agreement, Purchaser agrees to hold such funds, documents or instruments for the benefit of Seller and redeliver such items to Seller.
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POST-CLOSING RELATIONSHIP. If the Lenders, or an entity controlled by the Lenders (“Optex-Delaware”), acquires the Optex-Texas Collateral at the public sale, they will agree (a) to provide access to its books and records to the extent reasonably necessary for the Company to prepare financial statements, tax returns or comply with its SEC reporting duties or SOX obligations and (b) to negotiate in good faith with the Company regarding (i) a contract manufacturing relationship under which Optex-Delaware will manufacture products for the Company and (ii) a consulting arrangement under which the Company will facilitate transition of government contracts or assist in possible renegotiation of government contracts or otherwise assist in the transition of operations to Optex-Delaware. In addition, Optex-Delaware shall acquire all of the assets of Optex-Texas and none of the liabilities, with the exception of the specific liabilities set forth on Schedule A attached hereto (provided that Schedule A shall be updated immediately prior to the date of the foreclosure sale to reflect amounts that were incurred in the ordinary course of business consistent with past practices after the date of the attached Schedule A and are approved in writing by the Lenders with Lenders reserving the right to reject any liability in their sole discretion.) . Except as expressly provided in Schedule A , Lenders or Optex-Delaware shall not assume or be obligated to pay any other liabilities of Optex-Texas, including without limitation, the TWL Loan, any obligation or debt owed by Optex-Texas to the Company, any tax liability or any tort claim asserted against Optex-Texas. The Company, Optex-Texas and Optex-Delaware shall cooperate and use commercially reasonable efforts to cause the assignment, as determined by Optex-Delaware is its sole discretion, of any contract, real or personal property lease, government contract, any other contract right, or any permit or license right not acquired by Optex-Delaware as a result of the foreclosure sale.

Related to POST-CLOSING RELATIONSHIP

  • Consulting Relationship During the term of this Agreement, Consultant will provide consulting services to the Company (the “Services”). Consultant shall use Consultant’s best efforts to perform the Services such that the results are satisfactory to the Company. Any consulting relationship between the Company and Consultant, whether commenced prior to or upon the date of this Agreement, shall be referred to herein as the “Consulting Relationship”.

  • Lending Relationship Except as disclosed in the Registration Statement, the General Disclosure Package and the Prospectus, the Company (i) does not have any material lending or other relationship with any bank or lending affiliate of any Underwriter and (ii) does not intend to use any of the proceeds from the sale of the Securities to repay any outstanding debt owed to any affiliate of any Underwriter.

  • Reporting Relationship Executive shall report to the Company’s chief executive officer.

  • Independent Relationship Nothing herein contained shall be deemed to create an employment, agency, joint venture or partnership relationship between the Parties hereto or any of their agents or employees, or any other legal arrangement that would impose liability upon one Party for the act or failure to act of the other Party. Neither Party shall have any power to enter into any contracts or commitments or to incur any liabilities in the name of, or on behalf of, the other Party, or to bind the other Party in any respect whatsoever.

  • Banking Relationship Borrower shall at all times maintain its primary banking relationship with Silicon.

  • No Employment Relationship Whether or not any Options are to be granted under this Plan shall be exclusively within the discretion of the Plan Administrator, and nothing contained in this Plan shall be construed as giving any person any right to participate under this Plan. The grant of an Option shall in no way constitute any form of agreement or understanding binding on the Company or any Related Company, express or implied, that the Company or any Related Company will employ or contract with an Optionee, for any length of time, nor shall it interfere in any way with the Company’s or, where applicable, a Related Company’s right to terminate Optionee’s employment at any time, which right is hereby reserved.

  • Termination of Relationship If Optionee terminates Continuous Status --------------------------- as an Employee or Consultant for any reason, Optionee may exercise this Option during the Termination Period set out in the Notice of Grant, to the extent the Option was vested at the date of such termination. To the extent that Optionee was not vested in this Option at the date on which Optionee terminates Continuous Status as an Employee or Consultant, or if Optionee does not exercise this Option within the time specified herein, the Option shall terminate.

  • Commercial Relationship The Employee expressly acknowledges that the Employee’s participation in the Program and the Company’s grant of the Award does not constitute an employment relationship between the Employee and the Company. The Employee has been granted the Award as a consequence of the commercial relationship between the Company and the Company’s Subsidiary in Mexico that employs the Employee, and the Company’s Subsidiary in Mexico is the Employee’s sole employer. Based on the foregoing: (a) the Employee expressly acknowledges that the Program and the benefits derived from participation in the Program do not establish any rights between the Employee and the Subsidiary in Mexico that employs the Employee; (b) the Program and the benefits derived from participation in the Program are not part of the employment conditions and/or benefits provided by the Subsidiary in Mexico that employs the Employee; and (c) any modifications or amendments of the Program or benefits granted thereunder by the Company, or a termination of the Program by the Company, shall not constitute a change or impairment of the terms and conditions of the Employee’s employment with the Subsidiary in Mexico.

  • Employment Relationship Employment with the Company is for no specific period of time. Your employment with the Company will be “at will,” meaning that either you or the Company may terminate your employment at any time and for any reason, with or without cause. Any contrary representations that may have been made to you are superseded by this letter agreement. This is the full and complete agreement between you and the Company on this term. Although your job duties, title, compensation and benefits, as well as the Company’s personnel policies and procedures, may change from time to time, the “at will” nature of your employment may only be changed in an express written agreement signed by you and a duly authorized officer of the Company (other than you).

  • At-Will Relationship I understand and acknowledge that my Relationship with the Company is and shall continue to be at-will, as defined under applicable law, meaning that either I or the Company may terminate the Relationship at any time for any reason or no reason, without further obligation or liability.

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