Spin-Off Agreement. The Company, the Seller, and each Purchaser, hereby acknowledges, consents, authorizes and agrees that simultaneously with the closing on this Agreement, the Company has entered into the Spin-Off Agreement, in which the Company has agreed to sell all of the capital stock of DKTI, the Company’s operating subsidiary and only material asset, to the Seller. Each Purchaser acknowledges and agrees that it will not own, directly or indirectly, any shares, equity interest or securities of DKTI.
Appears in 2 contracts
Sources: Securities Purchase Agreement (Su Huibin), Securities Purchase Agreement (mLight Tech, Inc.)