Fulton Georgia Release and Assumption Agreement by and among Portola Packaging, Inc., Sand Hill Systems, Inc. and Portola Company IV, LLC

• Category: Corporations - Public - Assumption
• State: Multi-State
• County: Fulton
• Control #: US-EG-9025
• Format: Word; Rich Text

Description

Release and Assumption Agreement by and among Portola Packaging, Inc.., Sand Hill Systems, Inc. and Portola Company IV, LLC dated September 17, 1999. 6 pages The Fulton Georgia Release and Assumption Agreement is a legal document entered into by Tortola Packaging, Inc., Sand Hill Systems, Inc., and Tortola Company IV, LLC. This agreement outlines the terms and conditions under which Tortola Packaging, Inc. releases certain liabilities and transfers certain assets to Sand Hill Systems, Inc. and Tortola Company IV, LLC in Fulton, Georgia. In this agreement, Tortola Packaging, Inc. is the releasing party, while Sand Hill Systems, Inc. and Tortola Company IV, LLC are the assuming parties. The purpose of this agreement is to facilitate the transfer of specific assets and associated liabilities from Tortola Packaging, Inc. to the assuming parties. This Fulton Georgia Release and Assumption Agreement is crucial for Tortola Packaging, Inc. as it allows them to divest certain assets and minimize potential future liabilities. The agreement ensures a smooth transition of responsibilities and obligations to the assuming parties. The agreement typically includes various sections, such as: 1. Definitions: This section provides a comprehensive list of terms used throughout the agreement, ensuring clarity and mutual understanding between all parties involved. 2. Asset Transfer: This section specifies the assets being transferred from Tortola Packaging, Inc. to Sand Hill Systems, Inc. and Tortola Company IV, LLC. It outlines the conditions, responsibilities, and logistics associated with the transfer. 3. Liability Release: This section details the release of liabilities by Tortola Packaging, Inc. to the assuming parties. It outlines the scope of liabilities being transferred and released, ensuring that the assuming parties assume full responsibility for them. 4. Consideration: This section covers the consideration exchanged between the parties, such as financial compensation or other valuable assets. 5. Representations and Warranties: This section includes statements made by each party regarding the accuracy and completeness of the information provided, protecting the rights and interests of all parties involved. 6. Indemnification: This section addresses the indemnification obligations of the parties, ensuring that they are responsible for any expenses, liabilities, or losses arising from the assets transferred. While the specific terms and conditions of the Fulton Georgia Release and Assumption Agreement may vary depending on the circumstances of the agreement, its purpose remains consistent — to facilitate the transfer of assets and liabilities between Tortola Packaging, Inc., Sand Hill Systems, Inc., and Tortola Company IV, LLC in Fulton, Georgia.

The Fulton Georgia Release and Assumption Agreement is a legal document entered into by Tortola Packaging, Inc., Sand Hill Systems, Inc., and Tortola Company IV, LLC. This agreement outlines the terms and conditions under which Tortola Packaging, Inc. releases certain liabilities and transfers certain assets to Sand Hill Systems, Inc. and Tortola Company IV, LLC in Fulton, Georgia. In this agreement, Tortola Packaging, Inc. is the releasing party, while Sand Hill Systems, Inc. and Tortola Company IV, LLC are the assuming parties. The purpose of this agreement is to facilitate the transfer of specific assets and associated liabilities from Tortola Packaging, Inc. to the assuming parties. This Fulton Georgia Release and Assumption Agreement is crucial for Tortola Packaging, Inc. as it allows them to divest certain assets and minimize potential future liabilities. The agreement ensures a smooth transition of responsibilities and obligations to the assuming parties. The agreement typically includes various sections, such as: 1. Definitions: This section provides a comprehensive list of terms used throughout the agreement, ensuring clarity and mutual understanding between all parties involved. 2. Asset Transfer: This section specifies the assets being transferred from Tortola Packaging, Inc. to Sand Hill Systems, Inc. and Tortola Company IV, LLC. It outlines the conditions, responsibilities, and logistics associated with the transfer. 3. Liability Release: This section details the release of liabilities by Tortola Packaging, Inc. to the assuming parties. It outlines the scope of liabilities being transferred and released, ensuring that the assuming parties assume full responsibility for them. 4. Consideration: This section covers the consideration exchanged between the parties, such as financial compensation or other valuable assets. 5. Representations and Warranties: This section includes statements made by each party regarding the accuracy and completeness of the information provided, protecting the rights and interests of all parties involved. 6. Indemnification: This section addresses the indemnification obligations of the parties, ensuring that they are responsible for any expenses, liabilities, or losses arising from the assets transferred. While the specific terms and conditions of the Fulton Georgia Release and Assumption Agreement may vary depending on the circumstances of the agreement, its purpose remains consistent — to facilitate the transfer of assets and liabilities between Tortola Packaging, Inc., Sand Hill Systems, Inc., and Tortola Company IV, LLC in Fulton, Georgia.