Common use of Approvals; Effective Date Clause in Contracts

Approvals; Effective Date. (a) Promptly after execution of this Agreement, the Parties shall proceed diligently to make all appropriate filings under the Xxxx-Xxxxx-Xxxxxx Antitrust Improvements Act of 1976, as amended ("HSR"), and to proceed to obtain necessary approvals under HSR, including but not limited to the expiration or earlier termination of any and all applicable waiting periods required by the HSR. In addition the Parties shall proceed to obtain any other authorizations, approvals and permits, if any, required for the consummation of the transactions contemplated by this Agreement and the Stock Purchase Agreement. (b) If the Effective Date does not occur by December 15, 1995, then either Party (or Schering-Plough Corporation, in the case of the Stock Purchase Agreement) may terminate this Agreement and the Stock Purchase Agreement on five day's notice to the other Party, in which event each such agreement shall be terminated and all provisions of each such agreement shall be of no further force or effect.

Approvals; Effective Date. (a) Promptly after execution of this Agreement, the Parties shall proceed diligently to make all appropriate filings under the XxxxHart-XxxxxScott-Xxxxxx Rodino Antitrust Improvements Act of 1976, as amended ("HSRHXX"), and to proceed xxx xx xxxxeed to obtain necessary approvals under HSR, including but not limited to the expiration or earlier termination of any and all applicable waiting periods required by the HSR. In addition the Parties shall proceed to obtain any other authorizations, approvals and permits, if any, required for the consummation of the transactions contemplated by this Agreement and the Stock Purchase Agreement. (b) If the Effective Date does not occur by December 15, 1995, then either Party (or Schering-Plough Corporation, in the case of the Stock Purchase Agreement) may terminate this Agreement and the Stock Purchase Agreement on five day's notice to the other Party, in which event each such agreement shall be terminated and all provisions of each such agreement shall be of no further force or effect.

Approvals; Effective Date. (a) Promptly after execution of this Agreement, the Parties shall proceed diligently to make all appropriate filings under the XxxxHart-Xxxxx-Xxxxxx Antitrust Xxxitrust Improvements Act of 1976, as amended ("HSR"), and to proceed to obtain necessary approvals under HSR, including but not limited to the expiration or earlier termination of any and all applicable waiting periods required by the HSR. In addition the Parties shall proceed to obtain any other authorizations, approvals and permits, if any, required for the consummation of the transactions contemplated by this Agreement and the Stock Purchase Agreement. (b) If the Effective Date does not occur by December 15, 1995, then either Party (or Schering-Plough Corporation, in the case of the Stock Purchase Agreement) may terminate this Agreement and the Stock Purchase Agreement on five day's notice to the other Party, in which event each such agreement shall be terminated and all provisions of each such agreement shall be of no further force or effect.