COVENANTS AND POST-CLOSING AGREEMENTS Sample Clauses

COVENANTS AND POST-CLOSING AGREEMENTS. SECTION 5.1 Payment of RBC Loan Amount and Seller Loan Amount; Promotion of dealerAccess Services . Contemporaneous with Closing (but after the Buyer has purchased the Shares), the Buyer shall pay, or cause to be paid: (a) to Royal Bank of Canada, the RBC Loan Amount; and (b) to Seller, the Seller Loan Amount. During the one year period following the Closing Date, Buyer shall cause the Subsidiary to expend not less than CAN $400,000 to promote the use of the services provided by the Subsidiary to the automotive dealers using the services offered by the Subsidiary. Within fifteen (15) days after the one year period following the Closing Date, the Buyer shall provide the Seller with evidence satisfactory to the Seller acting reasonably of the amounts actually expended by the Subsidiary during the one year period following the Closing Date to promote the use of the services provided by the Subsidiary to the automotive dealers using the services offered by the Subsidiary. SECTION 5.2 [Intentionally Deleted.]