Laserfiche WebLink
7) Entered into any other transaction except in the ordinary course of <br />business. <br />Since March 31, 1997, there has been no substantial change in the financial <br />condition, assets, liabilities, or business of the Corporation. <br />(h) Seller will, up to the Date of Closing, operate the business in the usual <br />and ordinary manner and will not enter into any contract except as may be required <br />in the regular course of business or as provided in this Agreement to remove various <br />assets and liabilities from the Corporation. <br />7. Risk of Loss By Fire <br />Seller assumes all risk of destruction, loss, or damage by fire prior to the closing <br />of this transaction. <br />If any destruction, loss, or damage amounts to more than ten thousand dollars <br />($10,000), Buyer may at Buyer's option terminate the Agreement. <br />8. Assumption of Liabilities <br />Buyer assumes only those contracts listed in the attached Exhibit B, and the <br />specific obligations listed in this Paragraph and will indemnify the Corporation and <br />Seller against any and all liability under those contracts and obligations, provided <br />that Seller and the Corporation are not in default under any of the contracts or <br />obligations at the date of closing. Buyer shall not be liable for any of the obligations <br />or liabilities of Seller of any kind and nature other than those specifically assumed <br />under this Paragraph. After the Closing Date, Buyer shall honor any gift certificates <br />or coupons issued by Seller and hold Seller harmless against any redemption of gift <br />certificates or coupons issued prior to July 1, 1997. Seller shall not issue any gift <br />certificates, coupons, or redeemable discounts after June 30, 1997. Seller shall <br />prominently post a sign requesting all customers to redeem gift certificates, coupons <br />or discounts prior to November 1, 1997. On the Closing Date, Seller shall transfer to <br />Buyer any and all deposits held by Seller for future tournaments or golf events. <br />9. Indemnifications <br />Seller's Indemnification of Buyer <br />(a) Seller shall indemnify Buyer against any and all claims, demands, losses, <br />GOLF COURSE SERVICES PURCHASE AGREEMENT YHlit J <br />rev 6127/97, 6/30/97 <br />