Automobile Leases. Following the Closing, the Seller Group Members shall be responsible for all costs, expenses and Liabilities incurred by the Company in connection with the two automobiles listed below (each, a “Leased Car”), including the cost of leasing, operation, maintenance, repairs, any return or mileage fees and insurance coverage. Reimbursement for such costs, expenses and payments will be made to the Company either, at the sole discretion of the Company, (i) by the Company offsetting the wages of the employee who has responsibility for the applicable Leased Car, or (ii) by Member Representative paying the Company on behalf of the employee who has responsibility for the applicable Leased Car within ten (10) days after the Company submits to Member Representative an invoice for such costs, expenses and payments:
Automobile Leases. The person identified next to each automobile lease listed on Section 6.10 of the Disclosure Schedule shall have assumed any and all of the Company's obligations under each such lease and shall have agreed to indemnify the Company for any Loss (as hereinafter defined) incurred by the Company in connection with such lease and use of the automobile from and after the Closing Date.
Automobile Leases. During the Earnout Periods, the Buyer shall reimburse each of Xxxxxxx, Xxxx Xxxxxxxxx and Xxxxx Xxxx an amount not to exceed Five Hundred ($500.00) Dollars per month for expenses incurred by the same in connection with their automobile leases; provided, however, that in the event that any of the individuals referenced herein cease to be employees of the Buyer, regardless of the reason or cause, the Buyer’s obligations set forth herein with respect to such terminated individual, shall cease.
Automobile Leases. Prior to the Closing Date, the Company shall ----------------- cause all obligations under each of the leases with respect to the cars listed on Schedule 4.15 to be assumed by the individual whose name is set forth ------------- opposite such car on Schedule 4.15. Evidence of such assumption shall be ------------- delivered to counsel for Buyer prior to the Closing Date.
Automobile Leases. Sellers shall use their best efforts to obtain an assignment of the automobile leases enumerated on Schedule 5.6 (the "Automobile Leases") from the Company to the individual Seller or the Company's employee, as the case may be, or a refinancing of the Automobile Leases such that the Company will not be liable therefor, prior to the Closing Date. In the event Sellers are unable to obtain the assignment or refinancing of the Automobile Leases prior to the Closing Date, Sellers shall obtain such assignment or refinancing of the Automobile Leases 39 49 promptly following the Closing Date. The Sellers shall be solely responsible for making any and all payments under the Automobile Leases following the Closing.
Automobile Leases. Purchaser and Sellers hereby acknowledge that leases for certain automobiles used in the conduct of the Rexnord Business listed on Schedule 6.21 are held by Invensys rather than the Companies (the "Invensys Leases"). Sellers hereby acknowledge and agree that from and after the date hereof through the Closing Date they will use their commercially reasonable efforts to cause the Invensys Leases to be assigned to the Companies. In the event Sellers are unable to cause such Invensys Leases to be assigned to the Companies, Sellers acknowledge that they shall cooperate with Purchaser and that Purchaser and Sellers shall use commercially reasonable efforts to achieve a resolution of this matter which would operationally and economically achieve the objectives of such assignment.
Automobile Leases. Parent shall, or shall cause the Surviving Corporation to, maintain any existing automobile leases set forth on Schedule 8.3(j) of the Disclosure Schedule covering those Continuing Employees until their expiration date. Thereafter, such Continuing Employees shall receive a one-time annual salary increase of ten thousand dollars ($10,000).
Automobile Leases. Prior to the Effective Time, the Majority Shareholders shall have been assigned lease agreements between the Company and
Automobile Leases. Oakhurst, Puma and PPI shall execute and deliver the Automobile Assignment, Assumption and Guaranty Agreement in substantially the form of Exhibit D.
Automobile Leases. Reference is made to the motor vehicle leases set ----------------- forth on Schedule 5.15(f)(2) and Schedule 5.15.(f)(3) (the "Automobile Leases"). Seller shall use commercially reasonable efforts to obtain the consent of the other contracting party to assign such Automobile Lease to the Company prior to the Closing Date. In the event that Seller is able to obtain such consent, the Company shall assume the liabilities and obligations of Seller arising or to be performed under such Automobile Leases. In the event that Seller is unable to obtain such consent, Seller shall not terminate the Automobile Leases and the Company will make the payments under the Automobile Leases and insure the automobiles and otherwise abide by the terms of the Automobile Leases.
