Examples of Park Companies in a sentence
If the Park Companies shall require transition services which are in excess of those contemplated herein, the parties will negotiate in good faith the terms of compensation to be provided therefor by Buyers or the Park Companies; provided, that the Selling Parties shall obtain the prior written approval of a Buyer or a Park Company for any such excess services.
Schedule 3.23 lists all real property occupied by the Park Companies.
None of the Selling Parties or Park Companies has received any notice of cancellation or intent to cancel with respect to any such insurance policies.
The real property and improvements leased by the Park Companies shall be referred to herein as the “Leased Real Property.” The Leased Real Property is in good order and repair.
All premiums on all such policies have been paid to date and the Selling Parties or Park Companies, as applicable, have complied in all material respects with all conditions of its policies.
None of the Park Companies has any past due obligation as lessee under any Real Property Lease.
For purposes of this Agreement, the term “Current Assets” means the value of the following assets of the Park Companies on a consolidated basis: (i) accounts receivable (net of reserves), (ii) inventory (net of reserves), and (iii) current prepaid assets (including for the avoidance of doubt any prepaid rent or property taxes); and “Current Liabilities” means the value of all Park Company liabilities that are required to be classified as current liabilities in accordance with GAAP.
Without limiting the generality of the foregoing, each of Buyers and the Selling Parties will retain, until the expiration of the applicable statutes of limitation (including any extensions thereof), copies of all Tax Returns, supporting work schedules and other records relating to the Park Companies for tax periods or portions thereof ending on or prior to the Closing Date.
Except as expressly set forth herein, Buyers acknowledge that the Selling Parties have no continuing obligation following the Closing to assist the Park Companies in any aspect of the Business.
Buyers shall and shall cause the Park Companies to use their commercially reasonable efforts following the Closing to collect all accounts receivable of the Park Companies outstanding as of Closing and reflected on the final Post Closing Adjustment Schedule (the “Closing Receivables”), without any requirement to initiate any suit, engage counsel or incur any out-of-pocket expenses in connection therewith.