Spinoff. Prior to the Closing Date, GBGC intends to dividend, distribute or otherwise dispose of certain of its assets and related liabilities not related to the golf center business to either Seller or a newly-formed Subsidiary of Seller ("Newco") as more fully described on Schedule 5.2 (the "Spin-Off").
Appears in 2 contracts
Sources: Stock Purchase Agreement (Golden Bear Golf Inc), Stock Purchase Agreement (Family Golf Centers Inc)