Common use of Restrictions on Seller Dissolution and Distributions Clause in Contracts

Restrictions on Seller Dissolution and Distributions. Seller shall not dissolve, or make any distribution of the proceeds received pursuant to this Agreement, until Seller’s payment, or adequate provision for the payment, of all of its obligations pursuant to Sections 5.2 and 5.3.

Appears in 4 contracts

Samples: Asset Purchase Agreement (LOCAL.COM), Asset Purchase Agreement (DigitalPost Interactive, Inc.), Asset Purchase Agreement (LOCAL.COM)

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Restrictions on Seller Dissolution and Distributions. Seller shall not dissolve, or make any distribution of the proceeds received pursuant to this Agreement, until Seller’s 's payment, or adequate provision for the payment, of all of its obligations pursuant to Sections 5.2 6.01 and 5.36.02.

Appears in 1 contract

Samples: Asset Purchase Agreement (NTN Buzztime Inc)

Restrictions on Seller Dissolution and Distributions. Seller shall not dissolve, or make any distribution of the proceeds received pursuant to this Agreement, Agreement until Seller’s payment, or Seller provides Buyer with evidence of adequate provision for the payment, of all of its obligations pursuant to Sections 5.2 4.2 and 5.34.3 and, thereafter, Seller shall not dissolve, or make any distribution of more than 95% of the proceeds received pursuant to this Agreement until thirty (30) days after the completion of all adjustment procedures contemplated by Section 1.11.

Appears in 1 contract

Samples: Asset Purchase Agreement (Widepoint Corp)

Restrictions on Seller Dissolution and Distributions. Seller shall not dissolve, or make any distribution of the proceeds received pursuant to this Agreement, Agreement until Seller’s paymentSeller has paid, or made adequate provision for the payment, of all of its obligations pursuant to Sections 5.2 and 5.3applicable Legal Requirements, including all obligations to pay or otherwise satisfy all Retained Liabilities.

Appears in 1 contract

Samples: Asset Purchase Agreement (Best Energy Services, Inc.)

Restrictions on Seller Dissolution and Distributions. Seller shall not dissolve, or make any distribution of the proceeds received pursuant to this Agreement, until Seller’s 's payment, or adequate provision for the payment, of all of its obligations pursuant to Sections 5.2 10.2 and 5.310.3.

Appears in 1 contract

Samples: Asset Purchase Agreement (Findwhat Com Inc)

Restrictions on Seller Dissolution and Distributions. Seller shall agrees that it will not dissolve, or make any distribution of the proceeds received pursuant to this Agreement, until Seller’s paymentSeller has paid, or made adequate provision for the paymentpayment of, of all of its obligations pursuant to Sections 5.2 and 5.3Section 6.04.

Appears in 1 contract

Samples: Asset Purchase Agreement (Efunds Corp)

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Restrictions on Seller Dissolution and Distributions. Seller shall not dissolve, or make any distribution of the proceeds received pursuant to this Agreement, Agreement until Seller’s paymentSeller has paid, or made adequate provision for the payment, of all of its obligations pursuant to Sections 5.2 and 5.3applicable Legal Requirements, including its obligations to pay or otherwise satisfy all Retained Liabilities.

Appears in 1 contract

Samples: Asset Purchase Agreement (Best Energy Services, Inc.)

Restrictions on Seller Dissolution and Distributions. Neither Seller shall not will dissolve, or nor make any distribution of the proceeds received pursuant to this Agreement, other than distributions to cover tax liabilities, of proceeds received pursuant to this Agreement, until Seller’s payment, or adequate provision for the payment, of all of its obligations pursuant to Sections 5.2 5.21 and 5.35.22.

Appears in 1 contract

Samples: Asset Purchase Agreement (Efunds Corp)

Restrictions on Seller Dissolution and Distributions. Seller shall not dissolve, or make any distribution of the proceeds received pursuant to this Agreement, until Seller’s payment, or Seller has made adequate provision for the payment, payment of all of its obligations pursuant to Sections 5.2 2.9, 10.2 and 5.310.3.

Appears in 1 contract

Samples: Asset Purchase Agreement (Russ Berrie & Co Inc)

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