SSGI definition
Examples of SSGI in a sentence
Subject to fiduciary duties under applicable law, SSG will not, and will cause SSGI not to, enter into or effectuate any merger, consolidation, or sale of all or substantially all of the assets of SSG or SSGI, or liquidation, dissolution, reincorporation, reorganization, or restructuring or assignment of all or substantially all of its assets for the benefit of creditors, or file (or consent to the filing of) any petition in bankruptcy.
Except as provided in Section 6.3, SSG will not, and will cause SSGI not to, enter into any agreement, contract, understanding, arrangement, or transaction other than (i) in the ordinary course of business or (ii) which has a price or value, or imposes upon either SSG or SSGI any obligation in an amount, which exceeds the Threshold Amount.
SSG will not, and will cause SSGI not to, make any loan or advance to, or purchase or acquire any equity interest in, any corporation, partnership, association, business trust, limited liability company, governmental agency, or any individual, except for (i) reasonable advances to employees in the ordinary course of business, (ii) certificates of deposit of U.S. commercial banks, or (iii) obligations of, or guaranteed by, the U.S. government or any agency or instrumentality thereof.
SSG will not, and will cause SSGI not to, purchase or acquire, or sell, lease, or otherwise dispose of, any asset other than (i) in the ordinary course of their respective businesses or (ii) assets having a price or value which does not exceed $100,000 (the "Threshold Amount").
Neither SSG nor SSGI maintains or participates as an employer under any collective bargaining agreement, nor has either been advised of any labor organizational activity or proceedings which are pending or to their knowledge, threatened.
SSG will not, and will cause SSGI not to, directly or indirectly (i) declare or pay any dividends or make any distributions upon any of its equity securities or (ii) redeem, purchase or otherwise acquire any of their respective equity securities (including without limitation, warrants, options, and other rights to acquire equity securities).
SSG will, and will cause SSGI to, keep all of their respective properties in good working order and condition, subject to ordinary wear and tear and routine maintenance.
SSG and SSGI have at all times been in compliance with all requirements administered and enforced by the U.S. Customs Service and any foreign government customs service which has authority over the respective businesses of SSG and SSGI, including, but not limited to, the classification, valuation, and marketing of articles imported into or exported from the United States or any such other country, except where the failure to comply would not have a Material Adverse Effect.
Each of SSG and SSGI has performed all material obligations required to be performed under, and is not in default under or in violation of, any retirement or similar benefit plan for their respective employees which it maintains or offers (each a "Plan").
Each of SSG and SSGI has made all deposits required by law to be made by it with respect to employee withholding taxes.