Charys Holding Company Announces Settlement Agreement Revising Terms of Viasys Purchase Agreement. Settlement Cancels $3.5 Million Note and Revises Payment and Other Obligations.
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BusinessWire
3:35 p.m. 12/04/2006
ATLANTA, Dec 04, 2006 (BUSINESS WIRE) -- Charys Holding Company, Inc. ("Charys") (CHYS) announced today that it, along with two of its subsidiaries, Viasys Network Services, Inc. and Viasys Services, Inc. (collectively, "Viasys"), have entered into a Mutual Release and Settlement Agreement revising certain terms of the Stock Purchase Agreement dated November 1, 2005, between Charys and New Viasys Holdings LLC ("NVH"), by which Charys acquired Viasys from NVH. Pursuant to today's announced agreement, which is effective as of September 29, 2006, the parties have agreed to waive and release one another from certain closing conditions, payment obligations and indemnification claims under the Stock Purchase Agreement.
Further details regarding this Mutual Release and Settlement Agreement may be found in Charys' Current Report on Form 8-K filed with the Securities and Exchange Commission on November 29, 2006.
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