Common use of SUBSTANCE OF TRANSACTIONS Clause in Contracts

SUBSTANCE OF TRANSACTIONS. Notwithstanding any other provision of this Agreement, the transfer of the Property directly from Seller to Buyer is for convenience purposes only to effect expeditiously the culmination of the transfers set forth in this Section 2.2, and for all purposes hereunder it is the intent of the parties that such transfer reflects the following transfers, which shall occur in the following order: (i) all of the Investors, through their approval of the transactions contemplated under this Agreement, contribute all of their interests in the Property to AFH in exchange for shares of common stock of AFH, such shares to be distributed to them pursuant to Sections 3 and 13.2 hereof; (ii) AFH contributes the Property to AFC as a contribution to the capital of AFC; and (iii) AFC contributes the Property to Buyer as a contribution to the capital of Buyer. Seller's transfer of the Property directly to Buyer reflects Seller's transfer of the Property from the Investors to AFH, from AFH to AFC, and from AFC to the Buyer, in each instance in Seller's capacity as the agent of and on behalf of such transferors.

Appears in 7 contracts

Samples: Agreement of Purchase and Sale and Joint Escrow Instructions (American Family Holdings Inc), Agreement of Purchase and Sale and Joint Escrow Instructions (American Family Holdings Inc), Agreement of Purchase and Sale and Joint Escrow Instructions (American Family Holdings Inc)

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SUBSTANCE OF TRANSACTIONS. Notwithstanding any other provision of this Agreement, the transfer of the Property directly from Seller to Buyer is for convenience purposes only to effect expeditiously the culmination of the transfers set forth in this Section 2.2, and for all purposes hereunder it is the intent of the parties that such transfer reflects the following transfers, which shall occur in the following order: (i) all of the Investors, through their approval of the transactions contemplated under this Agreement, contribute all of their interests in the Property to AFH in exchange for shares of common stock of AFHUnits, such shares Units to be distributed to them pursuant to Sections 3 and 13.2 hereof; (ii) AFH contributes the Property to AFC as a contribution to the capital of AFC; and (iii) AFC contributes the Property to Buyer as a contribution to the capital of Buyer. Seller's transfer of the Property directly to Buyer reflects Seller's transfer of the Property from the Investors to AFH, from AFH to AFC, and from AFC to the Buyer, in each instance in Seller's capacity as the agent of and on behalf of such transferors.

Appears in 4 contracts

Samples: Agreement of Purchase and Sale and Joint Escrow Instructions (American Family Holdings Inc), Agreement of Purchase and Sale and Joint Escrow Instructions (American Family Holdings Inc), Agreement of Purchase and Sale and Joint Escrow Instructions (American Family Holdings Inc)

SUBSTANCE OF TRANSACTIONS. Notwithstanding any other provision of this Agreement, the transfer of the Property directly from Seller to Buyer is for convenience purposes only to effect expeditiously the culmination of the transfers set forth in this Section 2.2, and for all purposes hereunder it is the intent of the parties that such transfer reflects the following transfers, which shall occur in the following order: (i) all of the Investors, through their approval of the transactions contemplated under this Agreement, contribute all of their interests in the Property to AFH in exchange for shares of common stock of AFHUnits, such shares Units to be distributed to them pursuant to Sections 3 and 13.2 hereof; (ii) AFH contributes the Property to AFC as a contribution to the capital of AFC; and (iii) AFC contributes the Property to Buyer as a contribution to the capital of Buyer. Seller's transfer of the Property directly to Buyer reflects Seller's transfer of the Property from the Investors to AFH, from AFH to AFC, and from AFC to the Buyer, in each instance in Seller's capacity as the agent of and on behalf of such transferors. 3.

Appears in 2 contracts

Samples: Agreement of Purchase and Sale and Joint Escrow Instructions (American Family Holdings Inc), Agreement of Purchase and Sale and Joint Escrow Instructions (American Family Holdings Inc)

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SUBSTANCE OF TRANSACTIONS. Notwithstanding any other provision of this Agreement, the transfer of the Property directly from Seller to Buyer is for convenience purposes only to effect expeditiously the culmination of the transfers set forth in this Section 2.2, and for all purposes hereunder it is the intent of the parties that such transfer reflects the following transfers, which shall occur in the following order: ; (i) all of the Investors, through their approval of the transactions contemplated under this Agreement, contribute all of their interests in the Property to AFH in exchange for shares of common stock of AFHUnits, such shares Units to be distributed to them pursuant to Sections 3 and 13.2 hereof; (ii) AFH contributes the Property to AFC as a contribution to the capital of AFC; and (iii) AFC contributes the Property to Buyer as a contribution to the capital of Buyer. Seller's transfer of the Property directly to Buyer reflects Seller's transfer of the Property from the Investors to AFH, from AFH to AFC, and from AFC to the Buyer, in each instance in Seller's capacity as the agent of and on behalf of such transferors.

Appears in 1 contract

Samples: Agreement of Purchase and Sale and Joint Escrow Instructions (American Family Holdings Inc)

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