Post Closing Covenants of Purchaser. The Purchaser agrees to the following post-closing covenants:
Post Closing Covenants of Purchaser. (a) In the event that PURCHASER is issued the Series A Preferred Stock, the PURCHASER (or its designees) shall vote its shares to cause SIERRA to offer all SIERRA shareholders for a period of Sixty (60) days, the right, but not the obligation, to exchange three (3) shares of their SIERRA Class A Common Stock for one (1) share of SIERRA Class B Common Stock. In the event that less than eighty percent (80%) of the shareholders of SIERRA Class A Common Stock do not convert to Class B Common Stock during this sixty (60) day period, then PURCHASER (or its designees) shall vote its shares to close the conversion period and cause SIERRA to revise SIERRA’s Articles of Incorporation to provide that each share of Class B Common Stock shall have two (2) votes and each share of Class A Common Stock shall have one (1) vote.
Post Closing Covenants of Purchaser. Purchaser covenants to Seller, as follows (collectively “Purchaser’s Post-Closing Covenants”):
Post Closing Covenants of Purchaser. Purchaser covenants and agrees to take all actions required by Purchaser to consummate the initial closing (as defined in the Purchase Agreement) contemplated by Section 4.1 of the Purchase Agreement by 5:00 p.m. (Houston time) on January 16, 2009 (the “Initial Closing”), including but not limited to the execution of the Shareholders’ Agreement (as defined in the Purchase Agreement). If the Purchaser breaches its post-closing covenant for the Initial Closing, the Company, at its option, may terminate this Agreement and the Purchaser shall immediately return certificates representing the Purchased Shares to Company.
Post Closing Covenants of Purchaser. Following the Effective Date, the Purchaser covenants and agrees to:
Post Closing Covenants of Purchaser. 8.1.1 Within 90 days of closing, Security Fortress, LP. will be paid the full amount of the outstanding secured obligation due from B&P Environmental LLC of Two Hundred Seventy five Thousand ($275,000) dollars plus any accrued interest. The parties, by mutual agreement, have the right to extend full payment of this obligation for an addition thirty (30) days after the ninety (90) days as an extension to payment; Upon payment in full to Security Fortress, Inc. all Blanket UCC1 and any other security interest in B&P and / or Business assets will be released within fifteen (15) days of payment.
Post Closing Covenants of Purchaser
