Common use of Vendor/Companies relationship Clause in Contracts

Vendor/Companies relationship. Save as Disclosed, neither the Vendor, nor any member of the Vendor’s Group: (i) owe any indebtedness or other liability and which in aggregate exceeds $100,000 to any of the Companies whether actually or contingently, whether solely or jointly with any other person and whether as principal or surety, and there is no such indebtedness or liability and which in aggregate exceeds $100,000 due or owing by any of the Companies to the Vendor, or any member of the Vendor’s Group and there is no guarantee or Security Interest in respect of any such indebtedness or liability outstanding; (ii) are party to any agreement, arrangement or understanding, other than this Agreement and the Transaction Documents, with any of the Companies or relating to any of the Companies or the Interests in which the Vendor, any member of the Vendor’s Group is or has been interested, whether directly or indirectly, and there is no agreement, arrangement or understanding to which any of the Companies are a party and in which the Vendor, or any member of the Vendor’s Group has or has had an interest, whether directly or indirectly; or (iii) is entitled to a claim of any nature against any of the Companies, or which individually does not exceed $100,000, or has assigned to any person the benefit of a claim against any of the Companies to which it would otherwise be entitled.

Appears in 3 contracts

Samples: Business Purchase Agreement (Teekay Tankers Ltd.), Purchase Agreement (Teekay Tankers Ltd.), Purchase Agreement (Teekay Tankers Ltd.)

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Vendor/Companies relationship. Save as Disclosed, neither Neither the Vendor, Vendor nor any member of the Vendor’s GroupVendor Group Companies: (ia) owe any indebtedness or other liability which has not been Disclosed and which in aggregate exceeds $100,000 to any of the Companies whether actually or contingently, whether solely or jointly with any other person and whether as principal or surety, and and, other than the Notes, there is no such indebtedness or liability which has not been Disclosed and which in aggregate exceeds $100,000 due or owing by any of the Companies to the Vendor, Vendor or any member of the Vendor’s Vendor Group Companies and there is no guarantee or Security Interest in respect of any such indebtedness or liability outstanding; (iib) are party to any agreement, arrangement or understanding, other than this Agreement and the Transaction Documents, with any of the Companies or relating to any of the Companies or the Interests Assets in which the Vendor, any member of the Vendor’s Vendor Group Company is or has been interested, whether directly or indirectly, and there is no agreement, agreement (other than the Notes) arrangement or understanding to which any of the Companies are a party and in which the Vendor, Vendor or any member of the Vendor’s Vendor Group Company has or has had an interest, whether directly or indirectly; or (iiic) is entitled to a claim of any nature against any of the Companies, which has not been Disclosed other than amounts owing under the Notes or which individually does not exceed $100,000, or has assigned to any person the benefit of a claim against any of the Companies to which it would otherwise be entitled.

Appears in 1 contract

Samples: Purchase Agreement (Teekay LNG Partners L.P.)

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