Cross Purchase Agreement Sample Clauses

Cross Purchase Agreement. Each business owner buys a life insurance policy on the lives of the other owners. Under the agreement, the owners are obligated to use the proceeds from the insurance at the death of an owner to purchase the business interests from the deceased’s estate.

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Cross Purchase Agreement. The Buyer and the Principal shall have executed and delivered the Cross Purchase Agreement.

Cross Purchase Agreement. The Original Stockholders are parties to a Cross Purchase Agreement among the Original Stockholders and Andrew E. Todd, as trustee, dated ax xx Xxxxx 0, 1994 (the "Cross Purchase Agreement"), a copy of which is attached to this Agreement as Exhibit "A". Notwithstanding any other provision herein to the contrary, without obtaining the consent of any Stockholder or of the Corporation and upon prior written notice to each of the other Stockholders and to the Corporation, each of the Original Stockholders can comply with its obligations under the Cross Purchase Agreement.

Cross Purchase Agreement. The remaining owners purchase the departing owner’s interest pro rata (or subject to some other agreed-upon percentage). The cross-purchase agreement can also incorporate the use of a trustee. It is the trustee’s job to act as the facilitator of the owner- ship interest and fund transfers. A benefit of this arrangement is the step-up in basis. A disadvantage of this arrangement is the reliance on the remaining owners to follow through with the purchase. This disadvantage can be eliminated by the use of the trusteed agreement. Further, if insur- ance will be used to provide funding for the purchase, the trusteed arrangement will reduce the number of policies and ensure the premiums are paid and the proceeds delivered to the departing owner.

Related to Cross Purchase Agreement

• The Purchase Agreement This Agreement has been duly authorized, executed and delivered by the Company and the Guarantors.
• Stock Purchase Agreement Each Purchaser understands and agrees that the conversion of the Notes into equity securities of the Company will require such Purchaser’s execution of certain agreements relating to the purchase and sale of such securities as well as any rights relating to such equity securities.
• Note Purchase Agreement The conditions precedent to the obligations of the Applicable Pass Through Trustees and the other requirements relating to the Aircraft and the Equipment Notes set forth in the Note Purchase Agreement shall have been satisfied.
• Purchase Agreement See the introductory paragraphs hereof.
• Founder’s Purchase Agreement The Founder’s Purchase Agreement has been duly authorized, executed and delivered by the Company and the Sponsor, and is a valid and binding agreement of the Company and the Sponsor, enforceable against the Company and the Sponsor in accordance with its terms except as the enforceability thereof may be limited by bankruptcy, insolvency, or similar laws affecting creditors’ rights generally from time to time in effect and by equitable principles of general applicability.
• Share Purchase Agreement 6- --------------------------------------------------------------------------------
• Asset Purchase Agreement The transactions contemplated by the Asset Purchase Agreement shall have been consummated.
• Receivables Purchase Agreement The Transferor, in its capacity as purchaser of Receivables from the RPA Seller under the Receivables Purchase Agreement, shall enforce the covenants and agreements of the RPA Seller as set forth in the Receivables Purchase Agreement, including its agreement to designate Additional Accounts as and when required in order for the Transferor to fulfill its undertakings in Section 2.06. The Transferor shall not amend, waive or otherwise modify the Receivables Purchase Agreement except in accordance with its terms.
• Purchase Agreements The Sponsor has executed and delivered a Private Placement Warrants Purchase Agreement, the form of which is annexed as an exhibit to the Registration Statement (the “Sponsor Purchase Agreement”), pursuant to which the Sponsor will, among other things, on the Closing Date, consummate the purchase of and deliver the purchase price for the Placement Warrants allocated to the Sponsor described in Section 1.4.2. The Representative has executed and delivered a Private Placement Warrants Purchase Agreement, the form of which is annexed as an exhibit to the Registration Statement (the “Representative Purchase Agreement”, together with the Sponsor Purchase Agreement, the “Purchase Agreements”), pursuant to which the Representative will, among other things, on the Closing Date, consummate the purchase of and deliver the purchase price for the Placement Warrants allocated to the Representative described in Section 1.4.2. Pursuant to the Purchase Agreements, (i) the Sponsor and the Representative have waived any and all rights and claims it may have to any proceeds, and any interest thereon, held in the Trust Account in respect of the Placement Warrants, and (ii) certain proceeds from the sale of the Placement Warrants will be deposited by the Company in the Trust Account in accordance with the terms of the Trust Agreement on the Closing Date as provided for in the Purchase Agreements.
• Securities Purchase Agreement This Agreement and the transactions contemplated hereby have been duly and validly authorized by the Company, this Agreement has been duly executed and delivered by the Company and this Agreement, when executed and delivered by the Company, will be, a valid and binding agreement of the Company enforceable in accordance with its terms, subject as to enforceability to general principles of equity and to bankruptcy, insolvency, moratorium, and other similar laws affecting the enforcement of creditors’ rights generally.