Intercompany Payables and Receivables. |HiddenPara| . Effective the date hereof, all amounts currently owed by the Company to any officer, director, shareholder, employee or Affiliate of the Company (“Related Parties”) net of any amount then owed by such persons to the Company shall be assumed by Seller (or, as to net amounts owed to Seller, cancelled) and in all events deemed a capital contribution by Seller to the Company and any net amount then owed by any such person to the Company shall be forgiven by the Company.
Appears in 2 contracts
Samples: Stock Purchase and Sale Agreement (Dalrada Financial Corp), Stock Purchase and Sale Agreement (Warning Model Management Inc)
Intercompany Payables and Receivables. |HiddenPara| . Effective the date hereof, all amounts currently owed by the Company to any officer, director, shareholder, employee or Affiliate of the Company (“Related Parties”) net of any amount then owed by such persons to the Company shall be assumed by Seller (or, as to net amounts owed to Seller, cancelled) and in all events deemed a capital contribution by Seller to the Company and any net amount then owed by any such person to the Company shall be forgiven by the Company.
Appears in 1 contract
Samples: Stock Purchase and Sale Agreement (Dalrada Financial Corp)
Intercompany Payables and Receivables. |HiddenPara| . Effective the date hereof, all amounts currently owed by the Company to any officer, director, shareholder, employee or Affiliate of the Company (“"Related Parties”") net of any amount then owed by such persons to the Company shall be assumed by Seller (or, as to net amounts owed to Seller, cancelled) and in all events deemed a capital contribution by Seller to the Company and any net amount then owed by any such person to the Company shall be forgiven by the Company.
Appears in 1 contract
Samples: Stock Purchase and Sale Agreement (Solvis Group, Inc.)
