Furthermore, there are no options or other agreements which might create rights to shares of Altex II.
There are no bankruptcy, reorganization or receivership proceedings pending, being contemplated by, or threatened against Seller, SAGO or Altex.
Schedule 4.3 sets forth the names of all of the individuals that are intended to become employees of Altex II as of the Closing, together with the compensation to which such parties will be entitled (salary plus benefits) and a listing of all employment contracts, compensation contracts or similar agreements.
On or before December 15, 2005, Seller will provide Buyer with a copy of the proposed Articles of Incorporation and By Laws with respect to Altex II.
Seller or Altex shall be entitled to all operating revenues and related accounts receivable attributable to the Properties and shall be responsible for all capital expenditures, operating expenses and related accounts accrued attributable to the Properties, in each case to the extent they relate to the time prior to the Effective Time.