He added that the counter party of the third contract had "made arrangements to transfer the related business and employees to a third party".

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The ABC process begins when a debtor company signs a contract assigning its assets to a third-party assignee (like Sherwood), which acts as a fiduciary for the company's creditors.

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The corporation then signs a long-term contract to buy the solar electric power from the third party at rates that are almost always less than what it would pay its traditional utility.

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Really, there are only a few things you need to know about a third party before you enter into a contract.

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Like any other third party practice the SAP division holds a maintenance contract on behalf of customers in which it is allowed to maintain the software of a rival like PeopleSoft.

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