Initial Subscribers definition
Examples of Initial Subscribers in a sentence
The Initial Subscribers agree that the provisions of this paragraph are necessary and reasonable to protect the Company in the conduct of its business.
The Initial Subscribers understand and agree that the Company has a legitimate interest in assuring that such confidential information and trade secrets are not used by any of the Initial Subscribers in a manner that would be disadvantageous to the Company.
Each of the Initial Subscribers agrees, therefore, that it will, as requested by the Company, continue after June 30, 2000 to operate its Transportation Logistics Businesses for the benefit of the Company pursuant to an Outsourcing Agreement to be entered into between the parties as the Company deems reasonably necessary (the "Outsourcing Agreement") in order to effectuate a smooth transition to the Company operations.
The Initial Subscribers shall use their best efforts to obtain consents to the assignment of software licensed from third parties.
Each of the Initial Subscribers is duly qualified and is authorized to do business and is in good standing as a foreign corporation in all jurisdictions in which the nature of its activities and of its properties (both owned and leased) makes such qualification necessary.
All communications shall be sent, if to the Company, to the Attention of the Chief Executive Officer; and if to an Initial Subscriber, to the Initial Subscriber's address of record set forth in the records of the Company or at such other address as any party may designate by five (5) days' advance written notice to the other parties hereto.
The Initial Subscribers also understand that there is no assurance that any exemption from registration under the Securities Act will be available and that, even if available, such exemption may not allow the Initial Subscribers to transfer all or any portion of the Membership Interest held by it under the circumstances, in the amounts or at the times the Initial Subscribers might propose.
If a software program is developed and owned by an Initial Subscriber's Transportation Logistics Business and if one or more of its other businesses have had the right to use such software program, the Initial Subscriber will continue to have the same right after Closing, but such software program shall become the property of the Company.
In connection therewith, each of the Initial Subscribers commits and agrees to provide such information as is necessary for the Company's preparation of the audited financial statements by not later than June 30, 2000, and the information necessary for preparation of the interim statements by not later than August 30, 2000.
Each of the Initial Subscribers hereby agree, to the extent such additional assets are reasonably severable from any Initial Subscriber's other operations, to transfer such additional assets as the Company might reasonably require in return for payment by the Company to the transferring Initial Subscriber of an amount equal to the net-book value of any such additional assets.