Group Company definition
Examples of Group Company in a sentence
Each Group Company has complied with all material laws in all material respects, and none of them, to their knowledge, is under investigation with respect to, or has been threatened to be charged with or given notice of any material violation of any applicable laws.
There are no subsisting powers of attorney given by any Group Company and no person, as agent or otherwise, is entitled or authorised to bind or commit any Group Company to any obligation.
If, on the third Business Day immediately preceding the Completion Date (the "Relevant Date"), the aggregate cash balance of the Group Companies exceeds USD 10,000,000 the Seller shall be entitled to procure that the relevant Group Company distributes or otherwise pays such excess cash to the Seller (or otherwise as it may direct) prior to or on Completion.
The execution, delivery and performance of this Agreement and the transactions contemplated upon the terms herein will not result in the breach or termination or cancellation or constitute a default under any agreement, commitment or other instrument to which any Group Company is a party or by which any Group Company or its property or assets may be bound.
Clause 12.3 above shall not apply in relation to disclosures of such information to any bank, auditor, securities, Tax or other regulatory, governmental or supervisory authority having jurisdiction in the ordinary course examination of the disclosing person's books and records by such entity or, in response to a request by such entity that is not targeted at any Group Company or the transaction contemplated by this agreement.