Sale of Builders Concrete & Supply, Inc Sample Clauses

Sale of Builders Concrete & Supply, Inc. In the event of a stock sale of Builders Concrete & Supply, Inc., or a sale of substantially all of its assets, the parties agree that any proceeds of the sale (subject to and net of existing liens and encumbrances and the reasonable costs and expenses of the sale) shall not be distributed to insiders, including but not limited to Xx. Xxxxxxxxx or Xx. Xxxxxxx, or unsecured parties unless and until all payments due or to be due under Paragraph 22 have been satisfied, or the parties to this Agreement have agreed in writing to an escrow or similar arrangement to assure timely payment of the Settlement Amount. Nothing in this Agreement shall preclude or impair any of the Builder’s Defendants from transferring or encumbering any asset in order to make the payments due or to be due under Paragraph 22, provided, however, that: (i) Builders Concrete & Supply, Inc. shall give 15 days’ notice of intent to transfer more than 20% of its stock or assets; and (ii) the Plaintiffs shall not unreasonably withhold their consent to any transfer or sale of any such assets or the stock of Builders Concrete & Supply, Inc. Nothing in this Agreement shall preclude Builder’s Concrete & Supply, Inc. from conducting business in the ordinary course.
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