Intercompany Items. The Seller shall, as of the date immediately preceding the Closing Date, by appropriate documentation and accounting entries, eliminate any intercompany payables, receivables and/or indebtedness to the Seller arising prior to the Closing Date, provided that the Seller expressly agrees that any other provision of this Agreement to the contrary notwithstanding, the "basket" provisions of Section 8(b)(ii) hereof shall not apply to any obligation of the Seller to the Buyer for a breach of this covenant.
Appears in 3 contracts
Sources: Stock Purchase Agreement (Ns Group Inc), Stock Purchase Agreement (Ns Group Inc), Stock Purchase Agreement (Sovereign Specialty Chemicals Inc)