No Debt to Related Parties. Save and except for the Promissory Note, ---------------------------- the Company is not, and on Closing will not be, materially indebted to the Company Shareholders nor to any family member thereof, nor to any affiliate, director or officer of the Company or the Company Shareholders except accounts payable on account of bona fide business transactions of the Company incurred in normal course of the Company Business, including employment agreements with Company Shareholders, none of which are more than 30 days in arrears;
Appears in 2 contracts
Sources: Merger Agreement (Gama Computer Corp), Merger Agreement (Gama Computer Corp)