Common use of Settlement of Intercompany Accounts Clause in Contracts

Settlement of Intercompany Accounts. Each Intercompany Account outstanding immediately prior to the Effective Time, will be satisfied and/or settled in full in cash or otherwise cancelled and terminated or extinguished by the relevant members of the Ensign Group and the Pennant Group prior to the Effective Time, in each case, in the manner agreed to by the Parties.

Settlement of Intercompany Accounts. Each (a) Except as described in Section 2.6(b), each Intercompany Account outstanding immediately prior to the Effective Time, Distribution Date will be satisfied and/or settled in full in cash or otherwise cancelled and terminated or extinguished by the relevant members of the Ensign Inland American Group and the Pennant Xenia Group prior to the Effective Time, in each case, in the manner agreed to by the Parties.

Settlement of Intercompany Accounts. Each Intercompany Account outstanding immediately prior to the Effective Time, will be satisfied and/or settled in full in cash or otherwise cancelled and terminated or extinguished by the relevant members of the Ensign HCP Group and the Pennant QCP Group prior to the Effective Time, in each case, in the manner agreed to by the Parties.

Settlement of Intercompany Accounts. Each Intercompany Account outstanding immediately prior to the Effective TimeDistribution Date, will be satisfied and/or settled in full in cash or otherwise cancelled and terminated or extinguished by the relevant members of the Ensign Group and the Pennant CareTrust Group prior to the Effective Time, in each case, in the manner agreed to by the Parties.

Settlement of Intercompany Accounts. Each Intercompany Account outstanding immediately prior to the Effective Time, will be satisfied and/or settled in full in cash or otherwise cancelled and terminated or extinguished by the relevant members of the Ensign Group and the Pennant CareTrust Group prior to the Effective Time, in each case, in the manner agreed to by the Parties.

Settlement of Intercompany Accounts. Each Intercompany Account outstanding immediately prior to the Effective Time, Distribution Date will be satisfied and/or settled in full in cash or otherwise cancelled and terminated or extinguished by the relevant members of the Ensign Utility Group and the Pennant Bank Group prior to or as promptly as reasonably practicable after the Effective Distribution Time, in each case, case in the manner agreed to by the Parties.