Certain Business or Financial Transactions Clause Samples
Certain Business or Financial Transactions. Since December 31, 2000, Seller has not, except as set forth in Exhibit 4.16:
Certain Business or Financial Transactions. Since September 30, 2009, Seller has not:
(a) Mortgaged, pledged or caused to be created a security interest or other encumbrance in or against any of its property or assets.
(b) Declared or authorized any dividends or other distributions which have not been fully paid.
(c) Declared, paid or authorized any stock options; profit sharing, pension or retirement contributions; health, disability, accident or life insurance contributions; or created any arrangement or plan for any such option or contribution.
(d) Authorized or paid any bonus to any employee outside ordinary course of business.
(e) Increased the compensation payable to or to become payable to any employee.
(f) Made any change in the basis of computation of any bonus, commission or other compensation or benefit of any employee.
(g) Suffered any damage, destruction or loss materially adversely affecting the properties, assets or business of Seller.
(h) Sold, assigned or transferred any patents, trademarks, trade names, copyrights, licenses, franchises or other intangible assets or intangible properties of Seller.
(i) Disposed of any of its assets except for the sale or disposition of used assets in the ordinary course of business.
(j) Engaged in any other transaction other than in the ordinary course of business.
Certain Business or Financial Transactions. Since April 30, 2009, Seller has not:
(a) Mortgaged, pledged or caused to be created a security interest or other encumbrance in or against any of its property or assets.
(b) Declared or authorized any dividends or other distributions which have not been fully paid, except for a June ▇▇▇▇ ▇-▇▇▇▇ distribution of $16,400 relating to an estimated tax payment and an expected S-corp distribution to be paid in September 2009.
(c) Declared, paid or authorized any stock options; profit sharing, pension or retirement contributions; health, disability, accident or life insurance contributions; or created any arrangement or plan for any such option or contribution.
(d) Authorized or paid any bonus to any employee outside ordinary course of business.
(e) Increased the compensation payable to or to become payable to any employee.
(f) Made any change in the basis of computation of any bonus, commission or other compensation or benefit of any employee.
(g) Suffered any damage, destruction or loss materially adversely affecting the properties, assets or business of Seller.
(h) Sold, assigned or transferred any patents, trademarks, trade names, copyrights, licenses, franchises or other intangible assets or intangible properties of Seller.
(i) Disposed of any of its assets except for the sale or disposition of used assets in the ordinary course of business.
(j) Engaged in any other transaction other than in the ordinary course of business.