Vendor’s Undertakings. In addition to the transfer of the Interests to the Purchaser, the Vendor further undertakes as follows: (a) that on Closing, it shall procure that the Company shall have no net liabilities other than the liabilities Disclosed in the Disclosure Schedule; (b) following the Closing Date and upon receiving any notices, correspondence, information or enquiries in relation to the Company, the Interests, the Vessel or the Transaction Documents, it shall forthwith pass copies thereof to the Purchaser and shall hold in trust for the Company and account forthwith for any monies received after the Closing Date on account of the Company.
Appears in 4 contracts
Samples: Purchase Agreement, Purchase Agreement (Teekay Tankers Ltd.), Purchase Agreement (Teekay Tankers Ltd.)
Vendor’s Undertakings. In addition to the transfer of the Interests Interest to the Purchaser, the Vendor further undertakes as follows:
(a) that on Closing, it shall procure that the Company shall have no net liabilities other than the liabilities Disclosed disclosed in the Disclosure ScheduleStatement;
(b) following the Closing Date and upon receiving any notices, correspondence, information or enquiries in relation to the Company, the InterestsInterest, the Vessel or the Transaction DocumentsContracts, it shall forthwith pass copies thereof to the Purchaser and shall hold in trust for the Company and account forthwith to the Company for any monies received after the Closing Date on account of the Company.
Appears in 1 contract
