NVI definition
Examples of NVI in a sentence
Title and all risk of loss and use of the Acquired Assets will pass from NVI to Walmart as of the Effective Date.
No other corporate proceedings on the part of NVI are necessary to authorize this Asset Purchase Agreement or the transactions contemplated by this Asset Purchase Agreement.
The execution and delivery of this Asset Purchase Agreement by NVI and the consummation by NVI of the transactions contemplated by this Asset Purchase Agreement have been duly approved by the board of directors of NVI.
NVI represents and warrants that as of the Effective Date, NVI is the sole record and beneficial owner of all of the Acquired Assets and that, as of the Effective Date, there are no liens or other encumbrances on the Acquired Assets.
NVI has all requisite corporate power and authority, and has taken all corporate action necessary, to execute and deliver this Agreement, to consummate the transactions contemplated hereby and to perform its obligations under this Asset Purchase Agreement.
Termination of Executive's employment by NVI shall also require a majority vote of the Board.
EXCEPT FOR THE WARRANTY SET FORTH IN SECTION D, THE ACQUIRED ASSETS ARE BEING SOLD BY NVI TO WALMART “AS IS, WHERE IS” WITHOUT ANY REPRESENTATION OR WARRANTY OF ANY KIND.
Subject to the terms of this Asset Purchase Agreement, on the Effective Date, NVI sells, transfers, conveys, assigns and delivers to Walmart, and Walmart purchases and accepts from NVI, all right, title and interest in and to the assets described on the attached Exhibit 1 (the “Acquired Assets”).
Notes Payable and Liabilities to NVI Directors and Officers, not covered by proceeds from asset sales will be converted to one year term notes payable.
These notes will be forgiven by the holders if the bid price of NVI common stock equals or exceeds $10.00 per shares on the maturity date of the notes.