Appointment; Administration Clause Samples
Appointment; Administration. Following the Closing, Seller’s rights hereunder with respect to the Earnout shall be exercised and administered on Seller’s behalf by ▇▇▇▇▇ ▇▇▇▇ (the “Earnout Representative”). Buyer shall not take any action in the course of operating the Business and delivering the Seller Services not otherwise justified for good faith business reasons which has the intended effect of reducing the earning or payment of the maximum Earnout payment.
Appointment; Administration. If the OFCA Floating Security becomes enforceable against an Obligor pursuant to Clause 10.1.2, the Bond Trustee (as assignee by way of security of the OFCA Floating Security) shall be obliged (as against the Borrower Security Trustee) to appoint such person or persons as it thinks fit to be an Administrative Receiver(s) of the whole of such Obligor's property, such appointment to take effect upon the final day by which the appointment must be made in order to prevent an administration from proceeding or (where an Obligor or the directors of an Obligor have initiated the administration) not later than that final day.
Appointment; Administration. Following the Closing, Seller’s rights hereunder with respect to the Earnout shall be exercised and administered on Seller’s behalf by ▇▇▇▇▇▇ ▇▇▇▇▇ Page or his designated successor (the “Earnout Representative”).