Westinghouse Group definition
Examples of Westinghouse Group in a sentence
Since the execution of the PSA, Toshiba has not become aware of any information or circumstances regarding the Westinghouse Group that reasonably could have a Material Adverse Effect on the Westinghouse Group.
Toshiba has not entered into any contract, agreement, license or other legally binding arrangement with any member of the Westinghouse Group except for such contracts, agreements, licenses and arrangements which, when entered into or last materially modified or amended, were, when viewed in the aggregate, on arm’s length terms.
The requesting Shareholder shall be responsible for any incremental costs or expenses incurred by the Westinghouse Group in connection with additional information it requests pursuant to this Section 5.03(d).
The Company has been formed by Toshiba through Toshiba US in connection with its agreement to acquire the Westinghouse Group pursuant to the PSA.
The Company will repay in full all loans and advances that were extended by the Sellers (but not by any member of the Westinghouse Group) to any member of the Westinghouse Group, together with accrued interest thereon as of PSA Closing, without deduction for any set-off or counterclaim.
The Company will account for such funds as loans to the respective members of the Westinghouse Group, to be documented with a loan agreement substantially similar to those currently in place between the members of the Westinghouse Group and their Affiliates.
The Business Plan will be reviewed and revised, to the extent necessary, not less often than every three years; provided, that, the Business Plan will be revised promptly upon changes in the Company or the business environment that have a material impact on the Westinghouse Group or the Business Plan.
Each of the Company and US Acquisition Co. has been recently formed by Toshiba for the ownership of the Westinghouse Group as provided in the Participation Agreements and each has no other material operations, liabilities or obligations.
If Toshiba is required to expend any cash or otherwise incur a liability in connection with its performance of such guarantee, the Company or the Westinghouse Group shall reimburse Toshiba for such cash or liability, and Toshiba shall have no claim against any other Shareholder in respect of any such cash or liability.
In the event that the Company or the Westinghouse Group cannot provide its own capital, the Shareholders will negotiate in good faith concerning the provision of capital and will provide such necessary financial support as the Shareholders deem appropriate.