Assumed Debt. Up to One Hundred Sixty One Thousand Dollars ($161,000) of the Closing Purchase Consideration may be paid and evidenced by long term debt of the Companies that (i) is assumable by FAAC and (ii) FAAC agrees, in writing, to assume on or before the Closing Date (the “Assumed Debt”).
Appears in 2 contracts
Sources: Membership Interest Purchase Agreement (Fortress America Acquisition CORP), Membership Interest Purchase Agreement (Fortress America Acquisition CORP)
Assumed Debt. Up to One Hundred Sixty One Thousand Dollars ($161,000) of the Closing Purchase Consideration may be paid and evidenced by long term debt of the Companies that (i) is assumable by FAAC and (ii) FAAC agrees, in writing, to assume on or before the Closing Date (the “Assumed Debt”).
Appears in 1 contract
Sources: Membership Interest Purchase Agreement (Fortress America Acquisition CORP)