Algatec definition
Examples of Algatec in a sentence
The Algatec Group, when taken as a consolidated whole, has good and marketable title to all real property or holds under valid leases or other rights to use all real property, plants, machinery and equipment necessary for the conduct of its business as presently conducted, and has good and marketable title to all personal property owned by it which is material to its business, in each case free and clear of all Liens and defects except such as would not have a Material Adverse Effect.
None of the Company Stockholders have any reason to believe that the Algatec Group will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue such businesses at a cost that would not have a Material Adverse Effect.
The Company, Solar Invest or Trend Capital KG are insured by insurers of recognized financial responsibility against such losses and risks, including casualty and liability insurance, and in such amounts as the Company Stockholders believe to be prudent and customary in the Algatec Business.
This Agreement constitutes, a legal, valid and binding obligation of the Trustee, the Management Stockholders and Algatec enforceable against each of them in accordance with their terms.
The business and operations of Algatec shall be managed by the Algatec Management Board.
Unless otherwise agreed by Algatec, at the First Closing, the Partnership shall cause to be wired the aggregate sum of USD $3,200,000 on the First Closing Date, and USD $2,800,000 on the Second Closing Date; provided, that in no event shall the funds received (after conversion at the applicable exchange rate) be less than the EURO amounts set forth in Section 4a and Section 4b above.
Except for the payment of brokerage fees and commissions to investment bankers and finders fees to Persons who are legally entitled to receive the same, neither the General Partner, the Limited Partners nor their Affiliates shall be entitled to compensation for introducing Algatec to any financing source.
To the knowledge of the Management Stockholders, the businesses of Algatec, Trend Capital KG and Solar Invest are not being conducted in violation of any law, ordinance or regulation of any governmental entity material to the business of such entity, except where violation thereof would not reasonably be expected to have a Material Adverse Effect.
Algatec is a corporation and Solar Invest is a limited liability company, validly existing under the laws of Germany, with full power and authority (corporate and other) to own, lease, use and operate its properties and to carry on its business as and where now owned, leased, used, operated and conducted.
If the Initiating Algatec Stockholders elects to exercise their right to compel a sale pursuant to this Section 9(h), the Initiating Algatec Stockholders will cause a written notice of the Drag-Along Offer (the “Drag-Along Notice”) to be delivered to each of the other Algatec Stockholders, setting forth the aggregate consideration, the identity of the Third Party and the other principal terms and conditions thereof.