Mr. Pataki denounced the payments as violations of the state's takeover agreement, which had a no-layoff guarantee and a bar on severance pay.

If American Income terminates the takeover agreement, it has to pay a fee of about $12 million and expenses.

The ink was scarcely dry on the takeover agreement when he made his first inept move against me.

According to the terms of its takeover agreement with Legent, Computer Associates is compelled to defend any antitrust lawsuit.

Other Deals Are Likely The takeover agreement announced yesterday may not be the last among the regional providers, analysts and industry executives said.

Mr. Pataki denounced the payments as "outrageous" and "disgraceful" violations of the takeover agreements.

Part of the takeover agreement is that Maxus will suspend attempts to sell the Midgard Energy Company, its natural gas subsidiary.

However as part of the takeover agreement, nearly all the operating records and correspondence relating to the private management of Gresford Colliery were deliberately destroyed.

But they are still technically held by the American-registered Delaware corporation because the takeover agreement was never made formal, the review said.

The takeover agreement also gave the authority the one-year option to buy the plants.