Acquisition Documents. Borrower shall fully perform in all material respects all of its obligations under all Acquisition Documents, and shall enforce all of its rights and remedies thereunder as it deems appropriate in its reasonable business judgment; provided, however, that Borrower shall not take any action or fail to take any action which would result in a waiver or other loss of any material right or remedy of Borrower thereunder. Without limiting the generality of the foregoing, Borrower shall take all action necessary or appropriate to permit, and shall not take any action which would have a Material Adverse Effect upon, the full enforcement of all indemnification rights under all the Acquisition Documents. Borrower shall not, without Administrative Agent's prior written consent, modify, amend, supplement, compromise, satisfy, release or discharge any material provision of the Acquisition Documents, any material collateral securing the same, any Person liable directly or indirectly with respect thereto, or any material agreement relating to the Acquisition Documents or the collateral therefor. Borrower shall notify Administrative Agent in writing promptly after Borrower becomes aware thereof, of any event or fact which could give rise to a claim by it for indemnification under any of the Acquisition Documents to the extent such claims in the aggregate exceed $100,000.00, and shall diligently pursue such right and report to Administrative Agent on all further developments with respect thereto. If an Event of Default then exists, Borrower shall remit directly to Administrative Agent, for application to the Loan Obligations in such order as Administrative Agent determines, all amounts received by Borrower as indemnification or otherwise pursuant to the Acquisition Documents. If Borrower fails after Administrative Agent's demand to pursue diligently any right under any of the Acquisition Documents, or if an Event of Default then exists, then Administrative Agent may directly enforce such right in its own or Borrower's name and may enter into such settlements or other agreements with respect thereto as Administrative Agent determines. Notwithstanding the foregoing, Borrower shall at all times remain liable to observe and perform all of its duties and obligations under all the Acquisition Documents, and Administrative Agent's exercise of any of its rights with respect to the Collateral shall not release Borrower from any of such duties or obligations. Administrative Agent shall not be obligated to perform or fulfill any of Borrower's duties or obligations under any of the Acquisition Documents or to make any payment thereunder, or to make any inquiry as to the sufficiency of any payment or property received by it thereunder or the sufficiency of performance by any party thereunder, or to present or file any claim, or to take any action to collect or enforce any performance or payment of any amounts, or any delivery of any property.
Appears in 2 contracts
Samples: Loan Agreement (Talx Corp), Loan Agreement (Talx Corp)
Acquisition Documents. Borrower shall fully perform in all material respects all of its obligations under all Acquisition Documents, and shall enforce all of its rights and remedies thereunder thereunder, in each case as it deems appropriate in its reasonable business judgment; provided, however, that Borrower shall not take any action or fail to take any action which would result in a waiver or other loss of any material right or remedy of Borrower thereunder. Without limiting the generality of the foregoing, Borrower shall take all action necessary or appropriate to permit, and shall not take any action which would have a Material Adverse Effect any adverse effect upon, the full enforcement of all indemnification rights under all the Acquisition Documents. Borrower shall not, without Administrative Agent's prior written consent, modify, amend, supplement, compromise, satisfy, release or discharge any material provision of the Acquisition Documents, any material collateral securing the same, any Person liable directly or indirectly with respect thereto, or any material agreement relating to the Acquisition Documents or the collateral therefor. Borrower shall notify Administrative Agent in writing promptly after Borrower becomes aware thereof, of any event or fact which could give rise to a claim by it for indemnification under any of the Acquisition Documents to the extent such claims for an amount in the aggregate exceed excess of $100,000.001,000,000, and shall diligently pursue such right and promptly report to Administrative Agent on all further developments with respect thereto. If an Event of Default then exists, Borrower shall remit directly to Administrative Agent, for application to the Loan Obligations in such order as Administrative Agent determines, all amounts received by Borrower as indemnification or otherwise pursuant to the Acquisition Documents. If Borrower fails after Administrative Agent's demand to pursue diligently any right under any of the Acquisition Documents, or if there is an Event of Default then existsExisting Default, then Administrative Agent may directly enforce such right in its own or Borrower's name and may enter into such settlements or other agreements with respect thereto as Administrative Agent determinesdetermines in its reasonable judgment. Notwithstanding the foregoing, Borrower shall at all times remain liable to observe and perform all of its duties and obligations under all the Acquisition Documents, and Administrative Agent's exercise of any of its rights with respect to the Collateral shall not release Borrower from any of such duties or obligations. Administrative Agent shall not be obligated to perform or fulfill any of Borrower's duties or obligations under any of the Acquisition Documents or to make any payment thereunder, or to make any inquiry as to the sufficiency of any payment or property received by it thereunder or the sufficiency of performance by any party thereunder, or to present or file any claim, or to take any action to collect or enforce any performance or payment of any amounts, or any delivery of any property.
Appears in 2 contracts
Samples: Credit Facilities Agreement (Pomeroy Computer Resources Inc), Credit Facilities Agreement (Pomeroy It Solutions Inc)
Acquisition Documents. Borrower shall fully perform The Lenders have received true and complete copies of (including all schedules and exhibits delivered in connection therewith), each Acquisition Document and all material respects all of its obligations under all Acquisition Documents, amendments to any such documents and shall enforce all of its rights and remedies thereunder as it deems appropriate in its reasonable business judgment; provided, however, that Borrower shall not take any action other side letters or fail to take any action which would result in a waiver or other loss of any material right or remedy of Borrower thereunderagreements affecting the terms thereof. Without limiting the generality of the foregoing, Borrower shall take all action necessary or appropriate to permit, and shall not take any action which would have a Material Adverse Effect upon, the full enforcement of all indemnification rights under all the Acquisition Documents. Borrower shall not, without Administrative Agent's prior written consent, modify, amend, supplement, compromise, satisfy, release or discharge any material provision None of the Acquisition DocumentsDocuments has been amended or supplemented, nor have any of the material collateral securing provisions thereof been waived, except pursuant to a written agreement or instrument which has heretofore been delivered to the same, any Person liable directly or indirectly with respect thereto, or any material agreement relating Lenders. All of the transactions contemplated to occur under the Acquisition Documents on or before the collateral therefor. Borrower shall notify Administrative Agent in writing promptly after Borrower becomes aware Closing Date (the “Acquisition Closing Transactions”) have been consummated pursuant to the terms thereof, of any event or fact which could give rise no party to a claim by it for indemnification under any of the Acquisition Documents to has waived the extent such claims in the aggregate exceed $100,000.00fulfillment of any material condition precedent set forth therein, without Agent’s written consent, and shall diligently pursue such right and report no party has failed to Administrative Agent on all further developments with respect theretoperform any of its material obligations thereunder. If an Event At the time of Default then existsconsummation thereof, Borrower shall remit directly to Administrative Agent, for application to the Loan Obligations in such order as Administrative Agent determines, all amounts received by Borrower as indemnification or otherwise pursuant to the Acquisition DocumentsClosing Transaction shall have been consummated in all material respects in accordance with all applicable laws. If Borrower fails after Administrative Agent's demand to pursue diligently any right under any At the time of consummation of the Acquisition DocumentsClosing Transaction, all necessary material consents and approvals of, and filings and registrations with, and all other actions in respect of, all Governmental Authorities required in order to make or if an Event of Default then existsconsummate the Acquisition Closing Transaction will have been obtained, then Administrative Agent may directly enforce such right given, filed or taken and are or will be in its own full force and effect (or Borrower's name and may enter into such settlements or other agreements effective judicial relief with respect thereto as Administrative Agent determineshas been obtained). Notwithstanding the foregoing, Borrower shall at all times remain liable to observe and perform all of its duties and obligations under all the Acquisition Documents, and Administrative Agent's exercise of any of its rights All applicable waiting periods with respect thereto have or, prior to the Collateral shall time when required, will have, expired without, in all such cases, any action being taken by any competent authority which restrains, prevents, or imposes material adverse conditions upon the Transaction. Additionally, there does not release Borrower from exist any of such duties judgment, order or obligationsinjunction prohibiting or imposing material adverse conditions upon the Transaction. Administrative Agent shall not be obligated All actions taken by the Credit Parties pursuant to perform or fulfill any of Borrower's duties or obligations under any in furtherance of the Acquisition Documents or to make any payment thereunderClosing Transaction have been taken in all material respects in compliance with all applicable laws. As of the Closing Date, or to make any inquiry as to the sufficiency knowledge of any payment or property received Credit Party, each of the representations and warranties contained in the Acquisition Documents made by it thereunder or the sufficiency of performance by Persons other than any party thereunder, or to present or file any claim, or to take any action to collect or enforce any performance or payment Credit Party is true and correct in all material respects (without duplication of any amounts, or any delivery of any property.materiality qualifiers contained therein). 51 5.39
Appears in 1 contract
Samples: Securities Purchase Agreement and Security Agreement
Acquisition Documents. Borrower shall fully perform in all material respects perform all of its obligations under all Acquisition Documents, and shall enforce all of its rights and remedies thereunder thereunder, in each case as it deems appropriate in its reasonable business judgment; provided, however, that Borrower shall not take any action or fail to take any action which would result in a waiver or other loss of any material right or remedy of Borrower thereunder. Without limiting the generality of the foregoing, Borrower shall take all action necessary or appropriate to permit, and shall not take any action which would have a Material Adverse Effect any material adverse effect upon, the full enforcement of all of Borrower's indemnification rights under all the Acquisition Documents. Borrower shall not, without Administrative Agent's prior written consent, modify, amend, supplement, compromise, satisfy, release or discharge any material provision of the Acquisition Documents, any material collateral securing the same, any Person liable directly or indirectly with respect thereto, or any material agreement relating to the Acquisition Documents or the collateral therefor. Borrower shall notify Administrative Agent in writing promptly after Borrower becomes aware thereof, of any event or fact which could give rise to a claim by it Borrower for indemnification under any of the Acquisition Documents to the extent such claims for an amount in the aggregate exceed excess of $100,000.00500,000, and shall diligently pursue such right and promptly report to Administrative Agent on all further developments with respect thereto. If an Event of Default then exists, Borrower shall remit directly to Administrative Agent, for application to the Loan Obligations in such order as Administrative Agent determines, all amounts received by Borrower as indemnification or otherwise pursuant to the Acquisition Documents. If Borrower fails after Administrative Agent's demand to pursue diligently any material right under any of the Acquisition Documents, or if there is an Event of Default then existshas occurred and is continuing, then Administrative Agent may directly enforce such right in its own or Borrower's name and may enter into such settlements or other agreements with respect thereto as Administrative Agent determinesdetermines in its reasonable judgment. Notwithstanding the foregoing, Borrower shall at all times remain liable to observe and perform all of its duties and obligations under all the Acquisition Documents, and Administrative Agent's exercise of any of its rights with respect to the Collateral shall not release Borrower from any of such duties or obligations. Administrative Agent shall not be obligated to perform or fulfill any of Borrower's duties or obligations under any of the Acquisition Documents or to make any payment thereunder, or to make any inquiry as to the sufficiency of any payment or property received by it thereunder or the sufficiency of performance by any party thereunder, or to present or file any claim, or to take any action to collect or enforce any performance or payment of any amounts, or any delivery of any property.
Appears in 1 contract
Acquisition Documents. Borrower shall fully perform in all material respects As of the Closing Date, Borrowers have delivered to Agent a complete and correct copy of all of its obligations under all the Acquisition Documents and there has been no waiver, supplement, amendment or other modification of any material provision of any of such Acquisition Documents (including, without limitation any of the disclosure schedules to the Acquisition Agreement) from the form of Acquisition Documents delivered to Agent on February 9, 2006 unless consented to by GE Agent in writing. As of the Closing Date, no Credit Party and to the best of our knowledge no other Person party thereto is in default in any material respect in the performance or compliance with any provisions of the Acquisition Documents. After the Closing Date, no Credit Party and shall enforce all to the best of its rights and remedies thereunder as it deems appropriate our knowledge no other Person party thereto is in its reasonable business judgment; provided, however, that Borrower shall not take default in the performance or compliance with any action or fail provisions of the Acquisition Documents which could reasonably be expected to take any action which would result in a waiver or other loss of any material right or remedy of Borrower thereunderMaterial Adverse Effect. Without limiting The Acquisition Documents comply with, and the generality Acquisition has been consummated in accordance with, the Acquisition Agreement and all applicable laws. As of the foregoingClosing Date, Borrower shall take all action necessary the Acquisition Agreement is in full force and effect and has not been terminated, rescinded or appropriate withdrawn. After the Closing Date, the Acquisition Agreement has not been rescinded or withdrawn and, except in accordance with the terms thereof, has not terminated. All requisite approvals by Governmental Authorities having jurisdiction over Seller, any Credit Party and other Persons referenced therein, with respect to permitthe transactions contemplated by the Acquisition Agreement, and shall have been obtained, in each case except for such approvals the failure of which to obtain is not take any action which would reasonably likely to have a Material Adverse Effect upon, the full enforcement of all indemnification rights under all the Acquisition Documents. Borrower shall not, without Administrative Agent's prior written consent, modify, amend, supplement, compromise, satisfy, release or discharge any a material provision of the Acquisition Documents, any material collateral securing the same, any Person liable directly or indirectly with respect thereto, or any material agreement relating to the Acquisition Documents or the collateral therefor. Borrower shall notify Administrative Agent in writing promptly after Borrower becomes aware thereof, of any event or fact which could give rise to a claim by it for indemnification under adverse effect on any of the Acquisition Documents to the extent such claims in the aggregate exceed $100,000.00Related Transaction, and shall diligently pursue no such right and report to Administrative Agent on all further developments with respect thereto. If an Event of Default then exists, Borrower shall remit directly to Administrative Agent, for application to the Loan Obligations in such order as Administrative Agent determines, all amounts received by Borrower as indemnification or otherwise pursuant to the Acquisition Documents. If Borrower fails after Administrative Agent's demand to pursue diligently any right under any of the Acquisition Documents, or if an Event of Default then exists, then Administrative Agent may directly enforce such right in its own or Borrower's name and may enter into such settlements or other agreements with respect thereto as Administrative Agent determines. Notwithstanding the foregoing, Borrower shall at all times remain liable to observe and perform all of its duties and obligations under all the Acquisition Documents, and Administrative Agent's exercise of any of its rights Governmental approvals with respect to the Collateral shall not release Borrower from transactions contemplated by the Acquisition Agreement impose any of such duties or obligations. Administrative Agent shall not be obligated material conditions to perform or fulfill any of Borrower's duties or obligations under any the consummation of the transactions contemplated by the Acquisition Documents Agreement or to make any payment thereunder, or to make any inquiry as to the sufficiency of any payment or property received by it thereunder or the sufficiency of performance conduct by any party thereunder, or to present or file any claim, or to take any action to collect or enforce any performance or payment Credit Party of any amounts, or any delivery of any propertyits business thereafter.
Appears in 1 contract
Samples: Credit Agreement (Palace Entertainment Holdings, Inc.)
Acquisition Documents. Borrower The Lenders have received true and complete copies of (including all schedules and exhibits delivered in connection therewith), each Fidelity Acquisition Document and all amendments to any such documents and other side letters or agreements affecting the terms thereof. None of the Fidelity Acquisition Documents has been amended or supplemented, nor have any of the material provisions thereof been waived, except pursuant to a written agreement or instrument which has heretofore been delivered to the Lenders. All of the transactions contemplated to occur under the Fidelity Acquisition Documents on or before the Closing Date (the “Acquisition Closing Transactions”) have been consummated pursuant to the terms thereof, no party to any of the Fidelity Acquisition Documents has waived the fulfillment of any material condition precedent set forth therein and no party has failed to perform any of its material obligations thereunder. At the time of consummation thereof, the Acquisition Closing Transactions shall fully perform have been consummated in all material respects in accordance with all applicable laws. At the time of its obligations under all Acquisition Documents, and shall enforce all of its rights and remedies thereunder as it deems appropriate in its reasonable business judgment; provided, however, that Borrower shall not take any action or fail to take any action which would result in a waiver or other loss of any material right or remedy of Borrower thereunder. Without limiting the generality of the foregoing, Borrower shall take all action necessary or appropriate to permit, and shall not take any action which would have a Material Adverse Effect upon, the full enforcement of all indemnification rights under all the Acquisition Documents. Borrower shall not, without Administrative Agent's prior written consent, modify, amend, supplement, compromise, satisfy, release or discharge any material provision consummation of the Acquisition DocumentsClosing Transactions, all necessary material consents and approvals of, and filings and registrations with, and all other actions in respect of, all Governmental Authorities required in order to make or consummate the Acquisition Closing Transactions will have been obtained, given, filed or taken and are or will be in full force and effect (or effective judicial relief with respect thereto has been obtained). All applicable waiting periods with respect thereto have or, prior to the time when required, will have, expired without, in all such cases, any material collateral securing the sameaction being taken by any competent authority which restrains, any Person liable directly or indirectly with respect theretoprevents, or imposes material adverse conditions upon the Transaction. Additionally, there does not exist any judgment, order or injunction prohibiting or imposing material agreement relating adverse conditions upon the Transaction. All actions taken by the Credit Parties pursuant to the Acquisition Documents or the collateral therefor. Borrower shall notify Administrative Agent in writing promptly after Borrower becomes aware thereof, of any event or fact which could give rise to a claim by it for indemnification under any furtherance of the Acquisition Documents Closing Transactions have been taken in all material respects in compliance with all applicable laws. As of the Closing Date, to the extent such claims knowledge of any Credit Party, each of the representations and warranties contained in the aggregate exceed $100,000.00, Fidelity Acquisition Documents made by Persons other than any Credit Party is true and shall diligently pursue such right and report to Administrative Agent on correct in all further developments with respect thereto. If an Event of Default then exists, Borrower shall remit directly to Administrative Agent, for application to the Loan Obligations in such order as Administrative Agent determines, all amounts received by Borrower as indemnification or otherwise pursuant to the Acquisition Documents. If Borrower fails after Administrative Agent's demand to pursue diligently any right under any of the Acquisition Documents, or if an Event of Default then exists, then Administrative Agent may directly enforce such right in its own or Borrower's name and may enter into such settlements or other agreements with respect thereto as Administrative Agent determines. Notwithstanding the foregoing, Borrower shall at all times remain liable to observe and perform all of its duties and obligations under all the Acquisition Documents, and Administrative Agent's exercise material respects (without duplication of any of its rights with respect to the Collateral shall not release Borrower from any of such duties or obligations. Administrative Agent shall not be obligated to perform or fulfill any of Borrower's duties or obligations under any of the Acquisition Documents or to make any payment thereunder, or to make any inquiry as to the sufficiency of any payment or property received by it thereunder or the sufficiency of performance by any party thereunder, or to present or file any claim, or to take any action to collect or enforce any performance or payment of any amounts, or any delivery of any propertymateriality qualifiers contained therein).
Appears in 1 contract
Samples: Securities Purchase Agreement and Security Agreement (Fusion Telecommunications International Inc)
Acquisition Documents. Borrower shall fully perform The Lenders have received true and complete copies of (including all schedules and exhibits delivered in connection therewith), each Acquisition Document and all material respects all of its obligations under all Acquisition Documents, and shall enforce all of its rights and remedies thereunder as it deems appropriate in its reasonable business judgment; provided, however, that Borrower shall not take any action or fail amendments to take any action which would result in a waiver or other loss of any material right or remedy of Borrower thereunder. Without limiting the generality of the foregoing, Borrower shall take all action necessary or appropriate to permit, and shall not take any action which would have a Material Adverse Effect upon, the full enforcement of all indemnification rights under all the Acquisition Documents. Borrower shall not, without Administrative Agent's prior written consent, modify, amend, supplement, compromise, satisfy, release or discharge any material provision of the Acquisition Documents, any material collateral securing the same, any Person liable directly or indirectly with respect thereto, or any material agreement relating to the Acquisition Documents or the collateral therefor. Borrower shall notify Administrative Agent in writing promptly after Borrower becomes aware thereof, of any event or fact which could give rise to a claim by it for indemnification under any of the Acquisition Documents and other side letters or agreements affecting the terms thereof. None of the Acquisition Documents has been amended or supplemented, nor have any of the material provisions thereof been waived, except pursuant to a written agreement or instrument which has heretofore been delivered to the extent such claims in Lenders. All of the aggregate exceed $100,000.00, and shall diligently pursue such right and report transactions contemplated to Administrative Agent occur under the Acquisition Documents on all further developments with respect thereto. If an Event of Default then exists, Borrower shall remit directly to Administrative Agent, for application to or before the Loan Obligations in such order as Administrative Agent determines, all amounts received by Borrower as indemnification or otherwise Closing Date (the “Acquisition Closing Transactions”) have been consummated pursuant to the Acquisition Documents. If Borrower fails after Administrative Agent's demand terms thereof, no party to pursue diligently any right under any of the Acquisition Documents, or if an Event of Default then exists, then Administrative Agent may directly enforce such right in its own or Borrower's name and may enter into such settlements or other agreements with respect thereto as Administrative Agent determines. Notwithstanding the foregoing, Borrower shall at all times remain liable to observe and perform all of its duties and obligations under all the Acquisition Documents, and Administrative Agent's exercise of any of its rights with respect to the Collateral shall not release Borrower from any of such duties or obligations. Administrative Agent shall not be obligated to perform or fulfill any of Borrower's duties or obligations under any of the Acquisition Documents or has waived the fulfillment of any material condition precedent set forth therein, without Agent’s written consent, and no party has failed to perform any of its material obligations thereunder. At the time of consummation thereof, the Acquisition Closing Transaction shall have been consummated in all material respects in accordance with all applicable laws. At the time of consummation of the Acquisition Closing Transaction, all necessary material consents and approvals of, and filings and registrations with, and all other actions in respect of, all Governmental Authorities required in order to make or consummate the Acquisition Closing Transaction will have been obtained, given, filed or taken and are or will be in full force and effect (or effective judicial relief with respect thereto has been obtained). All applicable waiting periods with respect thereto have or, prior to the time when required, will have, expired without, in all such cases, any payment thereunderaction being taken by any competent authority which restrains, prevents, or imposes material adverse conditions upon the Transaction. Additionally, there does not exist any judgment, order or injunction prohibiting or imposing material adverse conditions upon the Transaction. All actions taken by the Credit Parties pursuant to make any inquiry as or in furtherance of the Acquisition Closing Transaction have been taken in all material respects in compliance with all applicable laws. As of the Closing Date, to the sufficiency knowledge of any payment or property received Credit Party, each of the representations and warranties contained in the Acquisition Documents made by it thereunder or the sufficiency of performance by Persons other than any party thereunder, or to present or file any claim, or to take any action to collect or enforce any performance or payment of any amounts, or any delivery of any propertyCredit Party is true and correct.
Appears in 1 contract
Samples: Securities Purchase Agreement and Security Agreement (Fusion Telecommunications International Inc)
Acquisition Documents. Borrower shall fully perform The Lenders have received true and complete copies of (including all schedules and exhibits delivered in connection therewith), each Acquisition Document and all material respects all of its obligations under all Acquisition Documents, amendments to any such documents and shall enforce all of its rights and remedies thereunder as it deems appropriate in its reasonable business judgment; provided, however, that Borrower shall not take any action other side letters or fail to take any action which would result in a waiver or other loss of any material right or remedy of Borrower thereunderagreements affecting the terms thereof. Without limiting the generality of the foregoing, Borrower shall take all action necessary or appropriate to permit, and shall not take any action which would have a Material Adverse Effect upon, the full enforcement of all indemnification rights under all the Acquisition Documents. Borrower shall not, without Administrative Agent's prior written consent, modify, amend, supplement, compromise, satisfy, release or discharge any material provision None of the Acquisition DocumentsDocuments has been amended or supplemented, nor have any of the material collateral securing provisions thereof been waived, except pursuant to a written agreement or instrument which has heretofore been delivered to the same, any Person liable directly or indirectly with respect thereto, or any material agreement relating Lenders. All of the transactions contemplated to occur under the Acquisition Documents on or before the collateral therefor. Borrower shall notify Administrative Agent in writing promptly after Borrower becomes aware Closing Date (the “Acquisition Closing Transactions”) have been consummated pursuant to the terms thereof, of any event or fact which could give rise no party to a claim by it for indemnification under any of the Acquisition Documents to has waived the extent such claims in the aggregate exceed $100,000.00fulfillment of any material condition precedent set forth therein, without Agent’s written consent, and shall diligently pursue such right and report no party has failed to Administrative Agent on all further developments with respect theretoperform any of its material obligations thereunder. If an Event At the time of Default then existsconsummation thereof, Borrower shall remit directly to Administrative Agent, for application to the Loan Obligations in such order as Administrative Agent determines, all amounts received by Borrower as indemnification or otherwise pursuant to the Acquisition DocumentsClosing Transaction shall have been consummated in all material respects in accordance with all applicable laws. If Borrower fails after Administrative Agent's demand to pursue diligently any right under any At the time of consummation of the Acquisition DocumentsClosing Transaction, all necessary material consents and approvals of, and filings and registrations with, and all other actions in respect of, all Governmental Authorities required in order to make or if an Event of Default then existsconsummate the Acquisition Closing Transaction will have been obtained, then Administrative Agent may directly enforce such right given, filed or taken and are or will be in its own full force and effect (or Borrower's name and may enter into such settlements or other agreements effective judicial relief with respect thereto as Administrative Agent determineshas been obtained). Notwithstanding the foregoing, Borrower shall at all times remain liable to observe and perform all of its duties and obligations under all the Acquisition Documents, and Administrative Agent's exercise of any of its rights All applicable waiting periods with respect thereto have or, prior to the Collateral shall time when required, will have, expired without, in all such cases, any action being taken by any competent authority which restrains, prevents, or imposes material adverse conditions upon the Transaction. Additionally, there does not release Borrower from exist any of such duties judgment, order or obligationsinjunction prohibiting or imposing material adverse conditions upon the Transaction. Administrative Agent shall not be obligated All actions taken by the Credit Parties pursuant to perform or fulfill any of Borrower's duties or obligations under any in furtherance of the Acquisition Documents or to make any payment thereunderClosing Transaction have been taken in all material respects in compliance with all applicable laws. As of the Closing Date, or to make any inquiry as to the sufficiency knowledge of any payment or property received Credit Party, each of the representations and warranties contained in the Acquisition Documents made by it thereunder or the sufficiency of performance by Persons other than any party thereunder, or to present or file any claim, or to take any action to collect or enforce any performance or payment Credit Party is true and correct in all material respects (without duplication of any amounts, or any delivery of any propertymateriality qualifiers contained therein).
Appears in 1 contract
Samples: Securities Purchase Agreement and Security Agreement (Fusion Telecommunications International Inc)
Acquisition Documents. Borrower The Lenders have received true and complete copies of (including all schedules and exhibits delivered in connection therewith), each Original Acquisition Document and BVX Acquisition Document and all amendments to any such documents and other side letters or agreements affecting the terms thereof. None of the Original Acquisition Documents or the BVX Acquisition Documents has been amended or supplemented, nor have any of the material provisions thereof been waived, except pursuant to a written agreement or instrument which has heretofore been delivered to the Lenders. All of the transactions contemplated to occur under the Original Acquisition Documents and the BVX Acquisition Documents on or before the Closing Date (the “Acquisition Closing Transactions”) have been consummated pursuant to the terms thereof, no party to any of the Original Acquisition Documents or the BVX Acquisition Documents has waived the fulfillment of any material condition precedent set forth therein, without Agent’s written consent, and no party has failed to perform any of its material obligations thereunder. At the time of consummation thereof, the Acquisition Closing Transaction shall fully perform have been consummated in all material respects in accordance with all applicable laws. At the time of its obligations under all Acquisition Documents, and shall enforce all of its rights and remedies thereunder as it deems appropriate in its reasonable business judgment; provided, however, that Borrower shall not take any action or fail to take any action which would result in a waiver or other loss of any material right or remedy of Borrower thereunder. Without limiting the generality of the foregoing, Borrower shall take all action necessary or appropriate to permit, and shall not take any action which would have a Material Adverse Effect upon, the full enforcement of all indemnification rights under all the Acquisition Documents. Borrower shall not, without Administrative Agent's prior written consent, modify, amend, supplement, compromise, satisfy, release or discharge any material provision consummation of the Acquisition DocumentsClosing Transaction, all necessary material consents and approvals of, and filings and registrations with, and all other actions in respect of, all Governmental Authorities required in order to make or consummate the Acquisition Closing Transaction will have been obtained, given, filed or taken and are or will be in full force and effect (or effective judicial relief with respect thereto has been obtained). All applicable waiting periods with respect thereto have or, prior to the time when required, will have, expired without, in all such cases, any material collateral securing the sameaction being taken by any competent authority which restrains, any Person liable directly or indirectly with respect theretoprevents, or imposes material adverse conditions upon the Transaction. Additionally, there does not exist any judgment, order or injunction prohibiting or imposing material agreement relating adverse conditions upon the Transaction. All actions taken by the Credit Parties pursuant to the Acquisition Documents or the collateral therefor. Borrower shall notify Administrative Agent in writing promptly after Borrower becomes aware thereof, of any event or fact which could give rise to a claim by it for indemnification under any furtherance of the Acquisition Documents Closing Transaction have been taken in all material respects in compliance with all applicable laws. As of the Closing Date, to the extent such claims knowledge of any Credit Party, each of the representations and warranties contained in the aggregate exceed $100,000.00, and shall diligently pursue such right and report to Administrative Agent on all further developments with respect thereto. If an Event of Default then exists, Borrower shall remit directly to Administrative Agent, for application to the Loan Obligations in such order as Administrative Agent determines, all amounts received by Borrower as indemnification or otherwise pursuant to the Acquisition Documents. If Borrower fails after Administrative Agent's demand to pursue diligently any right under any of the Acquisition Documents, or if an Event of Default then exists, then Administrative Agent may directly enforce such right in its own or Borrower's name and may enter into such settlements or other agreements with respect thereto as Administrative Agent determines. Notwithstanding the foregoing, Borrower shall at all times remain liable to observe and perform all of its duties and obligations under all the Acquisition Documents, and Administrative Agent's exercise of any of its rights with respect to the Collateral shall not release Borrower from any of such duties or obligations. Administrative Agent shall not be obligated to perform or fulfill any of Borrower's duties or obligations under any of the Original Acquisition Documents or to make and the BVX Acquisition Documents made by Persons other than any payment thereunder, or to make any inquiry as to the sufficiency of any payment or property received by it thereunder or the sufficiency of performance by any party thereunder, or to present or file any claim, or to take any action to collect or enforce any performance or payment of any amounts, or any delivery of any propertyCredit Party is true and correct.
Appears in 1 contract
Samples: Securities Purchase Agreement and Security Agreement (Fusion Telecommunications International Inc)
Acquisition Documents. Borrower Notwithstanding anything to the contrary, (a)(i) Descartes and Fermat shall fully perform cooperate to, as promptly as practicable and in all material respects all good faith, finalize in definitive form each Acquisition Document that is in term sheet form as attached to this Agreement, such that the definitive form of its obligations under all each such Acquisition DocumentsDocument may be executed and delivered by the applicable parties at the Closing, (ii) each such Acquisition Document shall contain the terms set forth in the applicable term sheet and such other terms as mutually agreed by the parties, acting reasonably and in good faith, and as are customary (and not inconsistent with the terms set forth on the applicable term sheet) for agreements of the nature contemplated thereby, (iii) if the applicable parties are unable to reach agreement on any material term or condition of any such Acquisition Document (to the extent not already set forth in a term sheet attached hereto) such that a definitive agreement is not executed and delivered at the time of Closing, the Closing shall enforce not be delayed but instead the applicable term sheet shall become a binding obligation as the applicable Acquisition Document contemplated hereunder and shall remain in effect until a definitive agreement replacing such term sheet has been mutually negotiated and executed by all of its rights parties thereto and remedies thereunder (b) with respect to each other Acquisition Document (other than this Agreement), the applicable parties shall execute and deliver such agreement at the Closing in accordance with the terms hereof, with only such ministerial additions, deletions and modifications as it deems appropriate necessary for the parties, acting in its reasonable business judgmentgood faith and reasonably, to complete the missing terms contemplated by the form to be completed by the parties or to correct any scrivener’s errors, unless further changes are mutually agreed by the applicable parties (provided, that the parties shall act reasonably and in good faith in discussing further clarifications around any such other Acquisition Document if and to the extent reasonably requested by the other party; provided, however, that Borrower shall not take agreeing to any action or fail to take any action which would result in a waiver or other loss of any material right or remedy of Borrower thereunder. Without limiting the generality of the foregoing, Borrower shall take all action necessary or appropriate to permit, and shall not take any action which would have a Material Adverse Effect upon, the full enforcement of all indemnification rights under all the Acquisition Documents. Borrower shall not, without Administrative Agent's prior written consent, modify, amend, supplement, compromise, satisfy, release or discharge any material provision of the Acquisition Documents, any material collateral securing the same, any Person liable directly or indirectly with respect thereto, or any material agreement relating to the Acquisition Documents or the collateral therefor. Borrower shall notify Administrative Agent in writing promptly after Borrower becomes aware thereof, of any event or fact which could give rise to a claim by it for indemnification under any of the Acquisition Documents to the extent such claims in the aggregate exceed $100,000.00, and shall diligently pursue such right and report to Administrative Agent on all further developments with respect thereto. If an Event of Default then exists, Borrower shall remit directly to Administrative Agent, for application to the Loan Obligations in such order as Administrative Agent determines, all amounts received by Borrower as indemnification or otherwise pursuant to the Acquisition Documents. If Borrower fails after Administrative Agent's demand to pursue diligently any right under any of the Acquisition Documents, or if an Event of Default then exists, then Administrative Agent may directly enforce such right in its own or Borrower's name and may enter into such settlements or other agreements with respect thereto as Administrative Agent determines. Notwithstanding the foregoing, Borrower shall at all times remain liable to observe and perform all of its duties and obligations under all the Acquisition Documents, and Administrative Agent's exercise of any of its rights with respect to the Collateral shall not release Borrower from any of such duties or obligations. Administrative Agent shall not be obligated to perform or fulfill any of Borrower's duties or obligations under any of the Acquisition Documents or to make any payment thereunder, or to make any inquiry as to the sufficiency of any payment or property received by it thereunder or the sufficiency of performance by any party thereunder, or to present or file any claim, or to take any action to collect or enforce any performance or payment of any amounts, or any delivery of any property.clarifications shall
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Samples: MSW Transaction Agreement (FMC Corp)
Acquisition Documents. Borrower Notwithstanding anything to the contrary, (a)(i) Descartes and Fermat shall fully perform cooperate to, as promptly as practicable and in all material respects all good faith, finalize in definitive form each Acquisition Document that is in term sheet form as attached to this Agreement, such that the definitive form of its obligations under all each such Acquisition DocumentsDocument may be executed and delivered by the applicable parties at the Closing, (ii) each such Acquisition Document shall contain the terms set forth in the applicable term sheet and such other terms as mutually agreed by the parties, acting reasonably and in good faith, and as are customary (and not inconsistent with the terms set forth on the applicable term sheet) for agreements of the nature contemplated thereby, (iii) if the applicable parties are unable to reach agreement on any material term or condition of any such Acquisition Document (to the extent not already set forth in a term sheet attached hereto) such that a definitive agreement is not executed and delivered at the time of Closing, the Closing shall enforce not be delayed but instead the applicable term sheet shall become a binding obligation as the applicable Acquisition Document contemplated hereunder and shall remain in effect until a definitive agreement replacing such term sheet has been mutually negotiated and executed by all of its rights parties thereto and remedies thereunder (b) with respect to each other Acquisition Document (other than this Agreement), the applicable parties shall execute and deliver such agreement at the Closing in accordance with the terms hereof, with only such ministerial additions, deletions and modifications as it deems appropriate necessary for the parties, acting in its reasonable business judgmentgood faith and reasonably, to complete the missing terms contemplated by the form to be completed by the parties or to correct any scrivener’s errors, unless further changes are mutually agreed by the applicable parties (provided, that the parties shall act reasonably and in good faith in discussing further clarifications around any such other Acquisition Document if and to the extent reasonably 1414958.12A-NYCSR03A - MSW requested by the other party; provided, however, that Borrower shall not take agreeing to any action or fail to take any action which would result in a waiver or other loss of any material right or remedy of Borrower thereunder. Without limiting the generality of the foregoing, Borrower shall take all action necessary or appropriate to permit, and shall not take any action which would have a Material Adverse Effect upon, the full enforcement of all indemnification rights under all the Acquisition Documents. Borrower such further clarifications shall not, without Administrative Agent's prior written consentin and of itself, modifybe deemed a breach hereof or impact the closing conditions set forth in Article VII or otherwise delay the Closing hereunder); provided, amendfurther that the parties agree that the schedules and exhibits to the Ag Cross Transition Services Agreement and H&N Cross Transition Services Agreement shall be completed by the parties, supplementacting reasonably and in good faith, compromise, satisfy, release or discharge any material provision with such terms as are customary for agreements of the Acquisition Documents, any material collateral securing nature contemplated thereby and otherwise consistent with the same, any Person liable directly or indirectly with respect thereto, or any material agreement relating to the Acquisition Documents or the collateral therefor. Borrower shall notify Administrative Agent in writing promptly after Borrower becomes aware thereof, of any event or fact which could give rise to a claim by it for indemnification under any of the Acquisition Documents to the extent such claims in the aggregate exceed $100,000.00, and shall diligently pursue such right and report to Administrative Agent on all further developments with respect thereto. If an Event of Default then exists, Borrower shall remit directly to Administrative Agent, for application to the Loan Obligations in such order as Administrative Agent determines, all amounts received by Borrower as indemnification or otherwise pursuant to the Acquisition Documents. If Borrower fails after Administrative Agent's demand to pursue diligently any right under any of the Acquisition Documents, or if an Event of Default then exists, then Administrative Agent may directly enforce such right in its own or Borrower's name and may enter into such settlements or other agreements with respect thereto as Administrative Agent determines. Notwithstanding the foregoing, Borrower shall at all times remain liable to observe and perform all of its duties and obligations under all the Acquisition Documents, and Administrative Agent's exercise of any of its rights with respect to the Collateral shall not release Borrower from any of such duties or obligations. Administrative Agent shall not be obligated to perform or fulfill any of Borrower's duties or obligations under any of the Acquisition Documents or to make any payment thereunder, or to make any inquiry as to the sufficiency of any payment or property received by it thereunder or the sufficiency of performance by any party thereunder, or to present or file any claim, or to take any action to collect or enforce any performance or payment of any amounts, or any delivery of any propertyterms hereof.
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Acquisition Documents. Borrower The Administrative Agent shall fully perform have received evidence, in form and substance reasonably satisfactory to the Administrative Agent, that the Acquisition constitutes a Permitted Acquisition and has been consummated, or shall be consummated substantially simultaneously with the borrowing of the Third Amendment Incremental Term Loan, in all material respects all in accordance with the Acquisition Agreement as in effect on November 20, 2014, without any amendment, consent or waiver (including (i) any waiver of a condition precedent to the Borrower’s or its obligations applicable affiliate’s obligation to close under all the Acquisition DocumentsAgreement or otherwise consummate the Acquisition and (ii) any reduction in the purchase price set forth in the Acquisition Agreement as in effect on November 20, 2014 by more than 10%; provided that any purchase price reduction shall be allocated to reduce on a ratable basis the amount of cash equity contribution and shall enforce all of its rights and remedies thereunder as it deems appropriate in its reasonable business judgment; provided, however, that Borrower shall not take any action or fail to take any action which would result in a waiver or other loss of any material right or remedy of Borrower thereunder. Without limiting the generality amount of the foregoingThird Amendment Incremental Term Loan utilized to pay such purchase price and pay fees, Borrower shall take all action necessary or appropriate to permit, commissions and shall not take any action which would have a Material Adverse Effect uponexpenses in connection with the Acquisition, the full enforcement of all indemnification rights under all Third Amendment Incremental Term Loan and the transactions contemplated thereby (collectively with the Acquisition Documents. Borrower shall notand the Third Amendment Incremental Term Loan, without Administrative Agent's prior written consentthe “Transactions”), modify, amend, supplement, compromise, satisfy, release or discharge any material provision of the Acquisition Documents, any material collateral securing the same, any Person liable directly or indirectly with respect thereto, or any material agreement relating to the Acquisition Documents or the collateral therefor. Borrower shall notify Administrative Agent in writing promptly after Borrower becomes aware thereof, of any event or fact which could give rise to a claim by it for indemnification under any of the Acquisition Documents to the extent any such claims amendment, consent or waiver is material and adverse to the interests of the Incremental Term Lenders as reasonably determined by Administrative Agent unless consented to by the Administrative Agent (such consent not to be unreasonably withheld or delayed). The Administrative Agent hereby acknowledges that it is satisfied with the Acquisition Agreement, as in the aggregate exceed $100,000.00effect on November 20, 2014, and shall diligently pursue such right the disclosure schedules and report to Administrative Agent on all further developments with respect exhibits thereto. If an Event of Default then exists, Borrower shall remit directly to Administrative Agent, for application to the Loan Obligations in such order as Administrative Agent determines, all amounts received by Borrower as indemnification or otherwise pursuant to the Acquisition Documents. If Borrower fails after Administrative Agent's demand to pursue diligently any right under any of the Acquisition Documents, or if an Event of Default then exists, then Administrative Agent may directly enforce such right in its own or Borrower's name and may enter into such settlements or other agreements with respect thereto as Administrative Agent determines. Notwithstanding the foregoing, Borrower shall at all times remain liable to observe and perform all of its duties and obligations under all the Acquisition Documents, and Administrative Agent's exercise of any of its rights with respect to the Collateral shall not release Borrower from any of such duties or obligations. Administrative Agent shall not be obligated to perform or fulfill any of Borrower's duties or obligations under any of the Acquisition Documents or to make any payment thereunder, or to make any inquiry as to the sufficiency of any payment or property received by it thereunder or the sufficiency of performance by any party thereunder, or to present or file any claim, or to take any action to collect or enforce any performance or payment of any amounts, or any delivery of any property.
Appears in 1 contract
Acquisition Documents. Borrower shall fully perform in all material respects all of its obligations under all Acquisition DocumentsDocuments to which it is a party, and shall promptly enforce all of its rights and remedies thereunder as it deems appropriate in its reasonable business judgment; provided, however, that Borrower shall not take any action or fail to take any action which would result in a waiver or other loss of any material right or remedy of Borrower thereunder. Without limiting the generality of the foregoing, Borrower shall take all action necessary or appropriate to permit, permit and shall not take any action which would have a Material Adverse Effect any material adverse effect upon, the full enforcement of all indemnification rights of Borrower against Seller under all the Acquisition Documents. Borrower shall not, without Administrative Agent's prior written consentconsent (which consent shall not be unreasonably withheld or delayed), modify, amend, supplement, compromise, satisfy, release or discharge any material provision of the Acquisition Documents, any material collateral securing the same, any Person liable directly or indirectly with respect thereto, or any material agreement relating to the Acquisition Documents or the collateral therefor. Borrower shall notify Administrative Agent in writing promptly after Borrower becomes aware thereof, of any event or fact which could give rise to a claim by it for indemnification under any of the Acquisition Documents to the extent such Documents, which when aggregated with any other claims in the aggregate exceed thereunder exceeds $100,000.00250,000, and shall diligently pursue such right and report to Administrative Agent on all further developments with respect thereto. If an Event of Default then exists, Borrower shall remit directly to Administrative Agent, for application to the Loan Obligations in such order as Administrative Agent determines, all amounts received by Borrower as indemnification or otherwise pursuant to the Acquisition Documents. If Borrower fails after Administrative Agent's demand to pursue diligently any right under any of the Acquisition Documents, or if there is an Unwaived Event of Default then existsDefault, then Administrative Agent may directly enforce such right in its own or Borrower's name and may enter into such settlements or other agreements with respect thereto as Administrative Agent determines. Notwithstanding the foregoing, Borrower shall at all times remain liable to observe and perform all of its duties and obligations under all of the Acquisition Documents, and Administrative Agent's exercise of any of its rights with respect to the Collateral shall not release Borrower from any of such duties or obligations. Administrative Agent shall not be obligated to perform or fulfill any of Borrower's duties or obligations under any of the Acquisition Documents or to make any payment thereunder, or to make any inquiry as to the sufficiency of any payment or property received by it thereunder or the sufficiency of performance by any party thereunder, or to present or file any claim, or to take any action to collect or enforce any performance or payment of any amounts, or any delivery of any property.
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