Sold Companies definition
Examples of Sold Companies in a sentence
Each of the Sellers and the Sold Companies is a corporation duly incorporated, validly existing and in good standing under the Laws of its jurisdiction of incorporation.
The parties agree that the Sold Companies shall not have the benefit of or access to any insurance policies of Seller or its Affiliates, including the self-insurance programs maintained by Seller or any of its Affiliates.
All determinations necessary to give effect to the foregoing allocations shall be made in a manner consistent with the past practice of the Sold Companies.
Prior to the Effective Time, to the extent possible and permissible under applicable Law, net cash of the Sold Companies may be distributed under the form of capital reductions or dividends or may be lent to other Sold Companies that would otherwise be in a borrowing position vis-à-vis Seller or any of its Subsidiaries (other than the Sold Companies) or may be otherwise removed from any Sold Company pursuant to Section 5.15(c).
The Sellers and Buyer further agree that the Sellers will provide notice and the opportunity for bargaining with any labor organization(s) that represent employees of the Sold Companies, Subsidiaries or Venture Entities as may be required under applicable Law and nothing in this agreement shall prevent or preclude such bargaining from taking place in compliance with applicable Law.