NCM Agreement definition
Examples of NCM Agreement in a sentence
With regard to the funds placed into escrow by Old Carco with AlixPartners, LLP pursuant to Section 2.4(b) of the NC-M Agreement, the parties agree to execute, or cause to be executed, the Escrow Final Release Letter attached to this Agreement as Exhibit C, thereby terminating such escrow arrangements, releasing AlixPartners, LLP from liability and obligations, and instructing AlixPartners to release the remaining escrow balance of $405,000 to Metaldyne.
All other provisions of section 6 of the NC-M Agreement shall continue to remain in full force and effect and shall be enforceable by New Chrysler to the extent they do not contradict the terms of this Agreement.
Provided that such funds have not previously been wired from Metaldyne to New Chrysler, New Chrysler shall set off $177,843 against the amounts owing from New Chrysler to Metaldyne under Section 4 of this Agreement, which represents amounts received by Metaldyne as a result of erroneously issuing invoices to Chrysler’s tier one suppliers for production under the NC-M Agreement.
Notwithstanding anything in the NC-M Agreement or this Agreement to the contrary, the Designated Equipment Option granted pursuant to Section 6 of the NC-M Agreement shall expire if not exercised on or before 30 days after execution of this Agreement.
In connection with the true up of cash requirements pursuant to Section 2.5(c) of the NC-M Agreement, New Chrysler agrees, within five business days of the Effective Date, to wire $103,000 to Metaldyne.
In satisfaction of all requirements of Section 2.1(b) and Section 2.1(c) of the NC-M Agreement, New Chrysler agrees that Metaldyne will be paid $70,000 pursuant to Section 6(a) hereof.
Any and all Options set forth in the NC-M Agreement are immediately exercisable by New Chrysler or its designee with regard to Dedicated Equipment (as defined in the NC-M Agreement) used at any Metaldyne facility, at a price (the “Exercise Price”) of orderly liquidation value (“OLV”) established pursuant to the most current SRR appraisal (the “SRR Appraisals”), or, in the event an item of Dedicated Equipment is not listed on one of the SRR Appraisals, at a mutually agreed-upon price.
The parties agree that ▇▇▇▇▇ shall pay such amounts to Metaldyne upon the Effective Date, and upon payment of all escrowed amounts, all of ▇▇▇▇▇’▇ escrows under the NC-M Agreement and the Accommodation Agreement shall be terminated and ▇▇▇▇▇ shall be released from all liability and obligations pertaining thereto.