Examples of Initial Sellers in a sentence
Specifically, the Initial Sellers shall cause the Company to adopt, and timely complete all the actions required to implement, the “Spin Off and Termination of Plan” option under the Multiple Employer Plan Exit Policy established for the [redacted – commercially sensitive information].
None of the Initial Sellers shall, and each of them shall cause the Company and Company Subsidiaries not to, enter into any agreement with respect to any acquisition proposal.
Consequently, the Initial Sellers shall cause the Company to terminate its participation in the multiple employer 401(k) plan sponsored by [redacted – commercially sensitive information] and administered by [redacted – commercially sensitive information] (the “[redacted]”) as described above.
The Initial Sellers agree that they shall cause, to the extent possible, the Drag-Along Sellers to execute and deliver a joinder to this Agreement (the "Joinder to Amended and Restated Share Purchase and Contribution Agreement") substantially in the form of Exhibit C attached hereto within 30 days after the Initial Closing Date, and this Agreement shall thereupon constitute the binding obligation of the Drag-Along Sellers, enforceable against the Drag-Along Sellers in accordance with the terms hereof.
Notwithstanding anything to the contrary in this Section 6.17, the LTIP shall not be considered a 401(k) Plan, and the Initial Sellers shall not be required to cause the Company to terminate the LTIP.