Common use of First Contribution Clause in Contracts

First Contribution. (i) K▇▇▇▇▇▇▇-▇▇▇▇▇ shall cause K▇▇▇▇▇▇▇-▇▇▇▇▇ Global Sales, Inc., a Delaware corporation (“KCGS” ), to contribute to Neenah Paper Sales, Inc., a Delaware corporation (“NP Sales” ), as an additional contribution to capital without the issuance of additional shares of capital stock, all of KCGS’ right, title and interest in and to the Transferred Assets used primarily in the sale and marketing of the Paper Products (the “NP Sales Transferred Assets” ). (ii) In consideration for and simultaneous with the consummation of the transactions described in Section 2.5(a)(i), Neenah shall cause NP Sales to assume on a joint and several basis with Neenah, and to discharge in accordance with their respective terms, all of the Assumed Liabilities arising out of the ownership or use of the NP Sales Transferred Assets (the “NP Sales Assumed Liabilities” ).

Appears in 1 contract

Sources: Distribution Agreement (Neenah Paper Inc)

First Contribution. (i) K▇▇▇▇▇▇▇-▇▇▇▇▇ shall cause K▇▇▇▇▇▇▇-▇▇▇▇▇ Global Sales, Inc., a Delaware corporation (“KCGS), to contribute to Neenah Paper Sales, Inc., a Delaware corporation (“NP Sales), as an additional contribution to capital without the issuance of additional shares of capital stock, all of KCGS’ right, title and interest in and to the Transferred Assets used primarily in the sale and marketing of the Paper Products (the “NP Sales Transferred Assets). (ii) In consideration for and simultaneous with the consummation of the transactions described in Section 2.5(a)(i), Neenah shall cause NP Sales to assume on a joint and several basis with Neenah, and to discharge in accordance with their respective terms, all of the Assumed Liabilities arising out of the ownership or use of the NP Sales Transferred Assets (the “NP Sales Assumed Liabilities).

Appears in 1 contract

Sources: Distribution Agreement (Neenah Paper Inc)

First Contribution. (i) K▇▇▇▇▇▇▇-▇▇▇▇▇ shall cause K▇▇▇▇▇▇▇-▇▇▇▇▇ Global Sales, Inc., a Delaware corporation (“KCGS), to contribute to Neenah Paper Sales, Inc., a Delaware corporation (“NP Sales), as an additional contribution to capital without the issuance of additional shares of capital stock, all of KCGS’ right, title and interest in and to the Transferred Assets used primarily in the sale and marketing of the Paper Products (the “NP Sales Transferred Assets). (ii) In consideration for and simultaneous with the consummation of the transactions described in Section 2.5(a)(i), Neenah shall cause NP Sales to assume on a joint and several basis with Neenah, and to discharge in accordance with their respective terms, all of the Assumed Liabilities arising out of the ownership or use of the NP Sales Transferred Assets (the “NP Sales Assumed Liabilities).

Appears in 1 contract

Sources: Distribution Agreement (Neenah Paper Inc)