Common use of Illegal or Improper Payments Clause in Contracts

Illegal or Improper Payments. Neither the Acquired Companies, nor any of their respective predecessor entities (if any), nor any of their respective owners, Affiliates, managers, officers, employees, nor any other Person acting on the behalf of an Acquired Company, has ever: (a) made any illegal political contributions; (b) been involved in the disbursement or receipt of company funds outside of the Acquired Companies’ normal internal control systems of accountability; (c) made or received payments, whether direct or indirect, to or from foreign or domestic governments, officials, employees or agents for purposes other than the satisfaction of lawful obligations, or been involved in any transaction that has or had as its intended effect the transfer of funds or assets in the manner described; or (d) been involved in the improper or inaccurate recording of payments and receipts on the accounting books of the Acquired Companies or any other matters of a similar nature involving disbursements of any Acquired Company’s funds or assets.

Appears in 2 contracts

Sources: Stock Purchase Agreement (Encore Capital Group Inc), Securities Purchase Agreement (Encore Capital Group Inc)