Affirmative Operating Covenants Sample Clauses
Affirmative Operating Covenants are contractual provisions that require a party, typically a borrower or tenant, to perform certain ongoing actions or maintain specific standards during the term of an agreement. These covenants may include obligations such as maintaining insurance, keeping financial records, complying with laws, or operating a business in a particular manner. By setting these positive requirements, the clause ensures that the party upholds operational standards and reduces the risk of default or deterioration in value, thereby protecting the interests of the other party.
Affirmative Operating Covenants. Seller shall use its best efforts to (a) cause the Deposits to be equal to or greater than the Deposit Balance, (b) preserve the goodwill of customers and others doing business with the Branch and (c) cause the Employees (as defined in Section 9.2) to continue their employment with Purchaser on and after the Closing Date.
Affirmative Operating Covenants. Pending the Closing, Seller shall conduct its business only in the ordinary course and consistent with past practices, shall use its best efforts to preserve intact its business organization and relationships with third parties and to keep available the services of its officers and employees, and shall use its best efforts to maintain or increase the amount of the Retail Deposits.
Affirmative Operating Covenants. From and after the date of this Agreement and until the Closing Date or the earlier termination of this Agreement pursuant to Section 8.1, Seller will (except for actions expressly contemplated by this Agreement):
(i) operate only in the Ordinary Course of Business (including funding budgeted capital expenditures);
(ii) use commercially reasonable efforts to preserve intact the current business organization and personnel;
(iii) use commercially reasonable efforts to preserve present relationships and goodwill with customers, suppliers, landlords, creditors, Employees and other Persons having business dealings with Seller;
(iv) maintain books and records in accordance with past practice and GAAP;
(v) maintain all Permits necessary to conduct the Business; and
(vi) use commercially reasonable efforts to perform in all material respects its obligations under Contracts to which it is a party or by which it or any of its assets or properties are bound.