Common use of REALIGNMENT OF INTERCOMPANY OBLIGATIONS Clause in Contracts

REALIGNMENT OF INTERCOMPANY OBLIGATIONS. The following transactions will be effected to realign the intercompany accounts of the Automotive and Packaging Groups. After the completion of these transactions, TI will have a single net intercompany obligation from TPI and all other intercompany obligations (other than trade accounts) will be exclusively between entities which are members of the same Group. Following the completion of these transactions, there will be no further transfers of funds between members of different Groups other than pursuant to transactions occurring in the ordinary course of business (trade accounts) and transfers required or otherwise permitted pursuant to these Corporate Restructuring Transactions.