Mecklenburg North Carolina Subsidiary Assumption Agreement

• Category: Corporations - Public - Assumption
• State: Multi-State
• County: Mecklenburg
• Control #: US-EG-9213
• Format: Word; Rich Text

Description

Qualified Subsidiary Assumption Agreement between Sprint Corporation, France Telecom and Deutsche Telecom AG regarding acquiring of shares from a Class A holder dated November 23, 1998. 2 pages. Mecklenburg North Carolina Subsidiary Assumption Agreement is a legal document that outlines the terms and conditions under which a subsidiary company assumes the obligations and liabilities of its parent company in the state of North Carolina, specifically in Mecklenburg County. This agreement is essential when a parent company wants to transfer its existing agreements, contracts, and legal responsibilities to its subsidiary. The Mecklenburg North Carolina Subsidiary Assumption Agreement typically includes several key components such as: 1. Parties Involved: The agreement clearly identifies the parent company, the subsidiary company, and any other involved parties. 2. Effective Date: This specifies the date on which the assumption of liabilities and obligations takes effect. 3. Transferred Agreements: The agreement enlists and details the existing agreements, contracts, and legal obligations that are being transferred from the parent company to the subsidiary. These may include contracts with suppliers, customers, landlords, and employees. 4. Release of Liability: This clause clarifies that once the liabilities and obligations are assumed by the subsidiary, the parent company is relived of any further responsibilities associated with those agreements. 5. Indemnification: In some cases, the agreement may include provisions for indemnification, where the parent company agrees to compensate the subsidiary for any costs or losses arising from the assumption of liabilities. 6. Governing Law: The agreement specifies that it is governed by the state laws of North Carolina and any disputes will be resolved in the courts of Mecklenburg County. It is worth noting that while the term "Mecklenburg North Carolina Subsidiary Assumption Agreement" is specific to this region, similar agreements may exist in other states and counties, following the local laws and regulations. These agreements may differ in their specific terms and name depending on the location and jurisdiction. However, they serve the same purpose of transferring obligations and liabilities from a parent company to its subsidiary. Other variations of subsidiary assumption agreements may include "County Subsidiary Assumption Agreement" or "State Subsidiary Assumption Agreement," where the location is replaced with the respective county or state name. Each of these agreements would be tailored to the specific legal requirements and local laws of the given region.

Mecklenburg North Carolina Subsidiary Assumption Agreement is a legal document that outlines the terms and conditions under which a subsidiary company assumes the obligations and liabilities of its parent company in the state of North Carolina, specifically in Mecklenburg County. This agreement is essential when a parent company wants to transfer its existing agreements, contracts, and legal responsibilities to its subsidiary. The Mecklenburg North Carolina Subsidiary Assumption Agreement typically includes several key components such as: 1. Parties Involved: The agreement clearly identifies the parent company, the subsidiary company, and any other involved parties. 2. Effective Date: This specifies the date on which the assumption of liabilities and obligations takes effect. 3. Transferred Agreements: The agreement enlists and details the existing agreements, contracts, and legal obligations that are being transferred from the parent company to the subsidiary. These may include contracts with suppliers, customers, landlords, and employees. 4. Release of Liability: This clause clarifies that once the liabilities and obligations are assumed by the subsidiary, the parent company is relived of any further responsibilities associated with those agreements. 5. Indemnification: In some cases, the agreement may include provisions for indemnification, where the parent company agrees to compensate the subsidiary for any costs or losses arising from the assumption of liabilities. 6. Governing Law: The agreement specifies that it is governed by the state laws of North Carolina and any disputes will be resolved in the courts of Mecklenburg County. It is worth noting that while the term "Mecklenburg North Carolina Subsidiary Assumption Agreement" is specific to this region, similar agreements may exist in other states and counties, following the local laws and regulations. These agreements may differ in their specific terms and name depending on the location and jurisdiction. However, they serve the same purpose of transferring obligations and liabilities from a parent company to its subsidiary. Other variations of subsidiary assumption agreements may include "County Subsidiary Assumption Agreement" or "State Subsidiary Assumption Agreement," where the location is replaced with the respective county or state name. Each of these agreements would be tailored to the specific legal requirements and local laws of the given region.