Common use of Books and Records; Personnel Clause in Contracts

Books and Records; Personnel. Except in the ordinary course of business of such party regarding its own general records or in compliance with such party's general record retention policies, until the seventh anniversary of the Closing Date, Buyer and Seller will maintain all books and records, including electronic and computerized records, that relate to the pre-Closing business, operations, assets and properties related to the Business, and shall give each other party full and complete access during regular business hours to all such books, records, and personnel to the extent reasonably required to enable such other party to satisfy its respective obligations hereunder or under applicable law. In addition to the foregoing, neither Seller nor Buyer shall, without ninety (90) days prior written notification (a "Destruction Notice") to the other, destroy any pre-Closing books and records, including electronic and computerized records, related to the Business, unless such destruction is to occur in the ordinary course of business of the party destroying such books and records, or in compliance with such party's general record retention policies. Following receipt of a Destruction Notice, if Seller or Buyer, as applicable, advises the otherparty in writing within such ninety (90) day period, the applicable party will promptly deliver the applicable books and records to the other.

Appears in 1 contract

Samples: Stock and Asset Purchase Agreement (Farmland Industries Inc)

AutoNDA by SimpleDocs

Books and Records; Personnel. Except in the ordinary course of business of such party regarding its own general records or in compliance with such party's general record retention policies, until the seventh anniversary of the Closing Date, Buyer and Seller will maintain all books and records, including electronic and computerized records, that relate to the pre-Closing business, operations, assets and properties related to the Business, and shall give each other party full and complete access during regular business hours to all such books, records, and personnel to the extent reasonably required to enable such other party to satisfy its respective obligations hereunder or under applicable law. In addition to the foregoing, neither Seller nor Buyer shall, without ninety (90) days prior written notification (a "Destruction Notice") to the other, destroy any pre-Closing books and records, including electronic and computerized records, related to the Business, unless such destruction is to occur in the ordinary course of business of the party destroying such books and records, or in compliance with such party's general record retention policies. Following receipt of a Destruction Notice, if Seller or Buyer, as applicable, advises the otherparty other party in writing within such ninety (90) day period, the applicable party will promptly deliver the applicable books and records to the other.

Appears in 1 contract

Samples: Stock and Asset Purchase Agreement (Mississippi Chemical Corp /MS/)

Books and Records; Personnel. Except in the ordinary course of business of such party regarding its own general records or in compliance with such party's general record retention policies, until the seventh anniversary of the Closing Date, Buyer and Seller will maintain all books and records, including electronic and computerized records, records that relate to the pre-Closing business, operations, assets and properties related to the Business, and shall give each other party full and complete access during regular business hours to all such books, records, and personnel to the extent reasonably required to enable such other party to satisfy its respective obligations hereunder or under applicable law. In addition to the foregoing, neither Seller nor Buyer shall, without ninety (90) days prior written notification (a "Destruction page 47 Notice") to the other, destroy any pre-Closing books and records, including electronic and computerized records, related to the Business, unless such destruction is to occur in the ordinary course of business of the party destroying such books and records, or in compliance with such party's general record retention policies. Following receipt of a Destruction Notice, if Seller or Buyer, as applicable, advises the otherparty other party in writing within such ninety (90) day period, the applicable party will promptly deliver the applicable books and records to the other.

Appears in 1 contract

Samples: Asset Sale and Purchase Agreement (Farmland Industries Inc)

AutoNDA by SimpleDocs

Books and Records; Personnel. Except in the ordinary course of business of such party regarding its own general records or in compliance with such party's general record retention policies, until the seventh anniversary of the Closing Date, Buyer Buyers and Seller Sellers will maintain all books and records, including electronic and computerized records, that relate to the pre-Closing business, operations, assets and properties related to the Business, and shall give each other party full and complete access during regular business hours and on reasonable prior notice, to all such books, records, and personnel to the extent reasonably required to enable such other party to satisfy its respective obligations hereunder or under applicable law. In addition to the foregoing, neither Seller Sellers nor Buyer Buyers shall, without ninety (90) days prior written notification (a "Destruction Notice") to the otherother parties, destroy any pre-Closing books and records, including electronic and computerized records, related to the Business, unless such destruction is to occur in the ordinary course of business of the party destroying such books and records, or in compliance with such party's general record retention policies. Following receipt of a Destruction Notice, if a Seller or a Buyer, as applicable, advises the otherparty other party or parties in writing within such ninety (90) day period, the applicable party will promptly deliver the applicable books and records to the other.

Appears in 1 contract

Samples: Assumption Agreement (Mississippi Chemical Corp /MS/)

Time is Money Join Law Insider Premium to draft better contracts faster.