German Sub definition
Examples of German Sub in a sentence
Each Foreign Subsidiary (other than the German Sub) is validly existing under the laws of its jurisdiction of organization.
For the purposes of clarification, the German Sub will not be required become a co-Borrower hereunder or to guarantee the Obligations of Borrower under the Loan Documents.
Except for the employment of the Employees of German Sub, which can be terminated by the German Sub subject to applicable legal protections under German Law, or as otherwise set forth on Schedule 2.21(a)(i), the employment of all Employees of the Company is “at will” and may be terminated by the Surviving Corporation without payment of any severance or other compensation other than accrued compensation.
The copies of the employment agreements of the employees of the German Sub that have been made available to the Buyer are complete and correct.
At the request of German Sub, Miro shall notify the third party of the assignment.
German Sub has its place of effective management (Verwaltungssitz) in Germany.
To the extent that registration of German Sub or any further action is required to perfect the assignment, the parties agree to execute all document , take all such acts and to make any such declarations as may be necessary or expedient to permit German Sub to be so registered or such further action to be taken.
The Buyer shall have received (i) a Payoff Letter in form and substance reasonably acceptable to the Buyer (a “Payoff Letter”) executed by each Person for whom any Company Debt is outstanding immediately before the Closing, and (ii) a release agreement in form and substance reasonably acceptable to the Buyer with respect to the share pledge agreement dated August 24, 2012, duly executed by the pledgor, the pledgee and the German Sub.
No consultant or independent contractor can claim any right for employment against the German Sub under statutory law.
There are no silent partnerships (stille Beteiligungen), stock-appreciation rights, stock-based performance units, “phantom” stock rights or other agreements, arrangements or commitments of any nature (contingent or otherwise) pursuant to which any Person is or may be entitled to receive any payment or other value based on the revenues, earnings or financial performance, stock price performance or other similar attribute of German Sub.