GRS definition
Examples of GRS in a sentence
Except as provided above, GRS shall have no further liability hereunder (other than for reimbursement for reasonable business expenses incurred prior to the date of termination, subject, however, to the provisions of Section 3.1).
GRS has all material franchises, Permits, licenses and other rights and privileges necessary to permit it to own its Properties and to conduct its businesses as presently conducted.
Neither GRS, nor any director, officer or employee of GRS has paid or caused to be paid, directly or indirectly, in connection with the business of GRS: (a) to any government or agency thereof or any agent of any supplier or customer any bribe, kick-back or other similar payment; or (b), any material contribution to any political party or candidate (other than from personal funds of directors, officers or employees not reimbursed by their respective employers or as otherwise permitted by applicable law).
Except as set forth on Schedule 5.03, GRS has not issued any other shares of its capital stock and there are no outstanding options, warrants, subscriptions or other rights or obligations to purchase or acquire any of such shares, nor any outstanding securities convertible into or exchangeable for such shares.
All of the presently outstanding shares of capital stock of GRS have been validly authorized and issued and are fully paid and nonassessable.