Common use of Termination of Existing Tax Sharing Agreements Clause in Contracts

Termination of Existing Tax Sharing Agreements. At the request of Buyer, Seller shall cause the Company and its Subsidiaries to terminate any and all existing Tax sharing agreements (whether written or not) binding upon the Company or any Subsidiary effective as of the Closing Date, and no party shall have any further rights or liabilities thereunder.

Appears in 2 contracts

Samples: Stock Purchase Agreement (Lithia Motors Inc), Stock Purchase Agreement (Lithia Motors Inc)

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Termination of Existing Tax Sharing Agreements. At the request of Buyer, Seller shall cause the Company and its Subsidiaries to terminate any and all existing Tax sharing agreements (whether written or not) binding upon the Company or any Subsidiary effective to be terminated as of the Closing Date, such that after such date none of the Company, Seller nor any of Seller's Affiliates and no party their respective Representatives shall have any further rights or liabilities thereunder.

Appears in 2 contracts

Samples: Stock Purchase Agreement (Wavedancer, Inc.), Stock Purchase Agreement (Wavedancer, Inc.)

Termination of Existing Tax Sharing Agreements. At the request of Buyer, The Seller shall cause the Company and its Subsidiaries to terminate any and all existing Tax sharing agreements (whether or arrangements, written or not) unwritten, express or implied, binding upon the Company, including any agreements or arrangements which afford any other Person the right to receive any payment from the Company in respect of any Taxes or the benefit of any tax attribute of the Company or require or permit the transfer or assignment of any Subsidiary effective income, revenues, receipts or gains, to be terminated as of the Closing Date. After the Closing Date, and no party the Company shall not have any further rights or liabilities thereunderobligations under any such agreements.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (DLB Oil & Gas Inc), Agreement and Plan of Merger (Bayard Drilling Technologies Inc)

Termination of Existing Tax Sharing Agreements. At the request of Buyer, Seller The Sellers shall cause the Company and its Subsidiaries to terminate any and all existing Tax sharing agreements arrangement (whether written or not) binding upon with respect to or involving the Company or any Subsidiary effective to be terminated as of the Closing Date and, after the Closing Date, and no party the Company shall not be bound thereby or have any further rights or liabilities Liability thereunder.

Appears in 1 contract

Samples: Stock Purchase Agreement (Solitron Devices Inc)

Termination of Existing Tax Sharing Agreements. At the request of Buyer, Seller shall terminate or cause the Company and its Subsidiaries to terminate be terminated any and all existing Tax sharing agreements (whether written or not) binding upon the Company or any Subsidiary effective as of the Closing Date. After Closing, none of the Company, Seller nor any of Seller's Affiliates and no party their respective Representatives shall have any further rights or liabilities thereunder.

Appears in 1 contract

Samples: Stock Purchase Agreement (Flora Growth Corp.)

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Termination of Existing Tax Sharing Agreements. At the request of Buyer, Seller The Sellers shall terminate or cause the Company and its Subsidiaries to terminate be terminated any and all existing Tax sharing agreements (whether written or not) binding upon the Company or any Subsidiary effective as of the Closing Date. After Closing, none of the Company, the Sellers, nor any of the Sellers’ Affiliates and no party their respective Representatives shall have any further rights or liabilities thereunder.

Appears in 1 contract

Samples: Stock Purchase Agreement (Orthopediatrics Corp)

Termination of Existing Tax Sharing Agreements. At the request of Buyer, Seller shall cause the Company and its Subsidiaries to terminate any and all existing Tax sharing agreements (whether written or not) binding upon the Company or any Subsidiary effective as of prior to the Closing Date, and Closing. After such date no party Company shall have any further rights or liabilities thereunder.

Appears in 1 contract

Samples: Equity Interest Purchase Agreement (American International Holdings Corp.)

Termination of Existing Tax Sharing Agreements. At Notwithstanding anything in this Agreement to the request of Buyercontrary, Seller shall cause the Company and its Subsidiaries to terminate any and all existing Liabilities, obligations or other rights between Seller and the Seller’s Affiliates on the one hand and the Company on the other hand, under any and all Tax sharing sharing, indemnity or similar agreements (whether written or not) binding upon the Company or any Subsidiary effective other than this Agreement shall cease and be terminated as of the Closing DateDate as to all past, and no party present or future taxable periods. After such date the Company shall have any further rights or liabilities thereunderLiabilities under any such agreements.

Appears in 1 contract

Samples: Unit Purchase and Contribution Agreement (Hydrofarm Holdings Group, Inc.)

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