REALIGNMENT OF INTERCOMPANY ACCOUNTS Sample Clauses

REALIGNMENT OF INTERCOMPANY ACCOUNTS. Except as otherwise provided in Section B below, the following transactions will be effected as of October 31, 1996 to realign the intercompany accounts of the Groups. As a result of these transactions, Tenneco will have one net intercompany account receivable or payable with New Tenneco Inc. ("Industrial Company") and one net intercompany account receivable or payable with Newport News Shipbuilding Inc. ("Shipbuilding Company"), and all other intercompany accounts payable or receivable of members of each Group (other than trade accounts) will be exclusively between members of that Group. Following completion of these transactions, there will be no further transfers of funds between members of the different Groups other than pursuant to transactions occurring in the ordinary course of business (trade accounts), transfers from or to Tenneco and either Industrial Company or Shipbuilding Company, and transfers required or otherwise permitted pursuant to these Corporate Restructuring Transactions.
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Related to REALIGNMENT OF INTERCOMPANY ACCOUNTS

  • Settlement of Intercompany Accounts Each Intercompany Account outstanding immediately prior to the Effective Time, will be satisfied and/or settled in full in cash or otherwise cancelled and terminated or extinguished by the relevant members of the Ensign Group and the Pennant Group prior to the Effective Time, in each case, in the manner agreed to by the Parties.

  • Intercompany Accounts 39 SECTION 3.31

  • Management Accounts The Management Accounts:

  • Set Up Accounts (a) Bank shall establish and maintain the following accounts ("Accounts"):

  • Control Accounts The Agent shall maintain on its books a control account or accounts in which shall be recorded (a) the amount of any Unpaid Sum and the face amount of each Letter of Credit issued hereunder, (b) the amount of all fees, interest and other sums due or to become due from the Borrower and (c) the amount of any sum received or recovered by the Agent hereunder.

  • Cash Accounts The Custodian will open and maintain in the name of the Client one or more cash deposit accounts (each a “Cash Account”) in such currencies as may be required in connection with the investment activity of the Client.

  • Establishment of Escrow Accounts; Deposits in Escrow Accounts The Seller shall segregate and hold all funds collected and received pursuant to each Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one or more Escrow Accounts, in the form of time deposit or demand accounts. The creation of any Escrow Account shall be evidenced by Escrow Account Letter Agreement in the form of Exhibit 8.

  • Intercompany Agreements The Company may require any Affiliate to enter into such other agreement or agreements as it shall deem necessary to obligate such Affiliate to reimburse the Company for any other amounts paid by the Company hereunder, directly or indirectly, in respect of such Affiliate's employees.

  • Collection Accounts Section 3.11 Withdrawals from the Collection Accounts..................... Section 3.12 Investment of Funds in the Collection Accounts and the Distribution Account......................................... Section 3.13 Maintenance of Hazard Insurance and Errors and Omissions and Fidelity Coverage........................................ Section 3.14 Enforcement of Due-on-Sale Clauses; Assumption Agreements.... Section 3.15

  • Bank Accounts; Receivables (a) Part 2.7(a) of the Disclosure Schedule provides accurate information with respect to each account maintained by or for the benefit of the Company at any bank or other financial institution.

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