Business Continuance Sample Clauses

The Business Continuance clause ensures that a party maintains essential operations and services during disruptions or unforeseen events, such as natural disasters or system failures. Typically, this clause requires the implementation of contingency plans, backup systems, and regular testing to minimize downtime and protect critical business functions. Its core purpose is to provide assurance that contractual obligations will be met even in adverse circumstances, thereby reducing the risk of service interruptions and safeguarding both parties' interests.
Business Continuance. Except as contemplated by this Agreement or with the prior written consent of the Plan Support Parties and subject to applicable bankruptcy law, the Company covenants and agrees that, between the PSA Effective Date and the Effective Date, the Company shall continue to operate its businesses in accordance with its business judgment, and shall confer with the Plan Support Parties and their representatives, as reasonably requested, to report on operational matters and the general status of ongoing operations. Notwithstanding the generality of the foregoing, the Company and all of its direct and indirect subsidiaries shall, between the date hereof and the Effective Date, except as expressly contemplated by this Agreement or with the prior written consent of the Plan Support Parties and, subject to applicable bankruptcy law, use all commercially reasonable efforts consistent with the Restructuring to (a) continue to operate its businesses in material compliance with all applicable laws, rules and regulations, (b) preserve the relationships with the current customers, distributors, suppliers, vendors and others having business dealings with the Company, (c) maintain its physical assets, properties and facilities in their current working order, condition and repair as of the date hereof, ordinary wear and tear excepted, (d) not take any action, or omit to take any action, the intent of which is to cause the termination of its current officers, (e) perform all obligations required to be performed by the Company under any assumed executory contracts, (f) maintain its books and records on a basis consistent with prior practice, (g) ▇▇▇▇ for products sold or services rendered and pay accounts payable in a manner consistent with past practice, (h) maintain all insurance policies required, or suitable replacements therefor, in full force and effect through the close of business on the Effective Date, (i) not encumber nor enter into any material new leases, licenses or other use or occupancy agreements for real property or any part thereof, (j) timely pay any and all required material fees and taxes with respect to patents (if any), patent applications (if any), any trademark applications and any registered trademarks, and (k) not enter into any agreement with any labor union or labor organization, including but not limited to any collective bargaining agreement, except as required by applicable law.
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Business Continuance. Except as contemplated by this Agreement or with the prior written consent of the Majority Second Lien Holders and the Required First Lien Holders, and subject to applicable bankruptcy or non-bankruptcy law, the Company covenants and agrees that, between the date hereof and the Consummation Date, the MACH Gen Entities shall continue to operate their businesses in accordance with their past practices and on the terms and conditions set forth in the 13-week cash flow attached hereto as Exhibit J (the “Budget”). The Company shall only be permitted to amend, modify, or revise the Budget with the express written consent of the Required First Lien Holders and Majority Second Lien Holders.
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Business Continuance. Except as contemplated by this Agreement or with the prior written consent of a Majority of Consenting Noteholders, the Company covenants and agrees that, between the date hereof and the Effective Date, the Company shall operate its businesses in the ordinary course in a manner consistent with past practice in all material respects (other than any changes in operations resulting from or relating to the filing of the Chapter 11 Cases or imposed by the Bankruptcy Court). Subject to the entry of any Consenting Noteholder and no more than a total of three sets of legal advisors (which shall include Akin Gump ▇▇▇▇▇▇▇ ▇▇▇▇▇ & ▇▇▇▇ LLP) and ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ & ▇▇▇▇▇ Capital, Inc., acting on behalf of one or more of the Consenting Noteholders (each, a “Representative”) into a confidentiality agreement reasonably acceptable to the Company,1 at the reasonable request and upon reasonable notice of one or more such Consenting Noteholders or advisors, the Company also agrees to respond to reasonable requests from such Representatives (each of whom shall be bound by a confidentiality agreement with the Company) and provide reasonable access to the Company’s senior management personnel regarding _________________________ 1 For the avoidance of doubt, any confidentiality agreement entered into by the Company and counsel and/or an advisor to the Consenting Noteholders in connection with the negotiation of the Restructuring shall be deemed acceptable to the Company. CH1 4688554v.9 the Company’s business, the Chapter 11 Cases, the general status of ongoing operations and operating results of the Company during normal business hours and at other reasonable times in a manner that does not unreasonably interfere with the normal business operations of the Company. Further, except as expressly contemplated by this Agreement and except for changes resulting from or relating to the filing of the Chapter 11 Cases or imposed by the Bankruptcy Court, the Company will continue (i) using commercially reasonable efforts to preserve the relationships with current customers, distributors, suppliers, vendors and others having business dealings with the Company, including but not limited to the performance of all material obligations under any executory contracts which have not been rejected and compliance with historical billing practices, (ii) maintaining and insuring its physical assets, properties and facilities in their current working order, condition and repair as of the date here...
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Business Continuance. The Company shall, between the date hereof and the Effective Date, except as expressly contemplated by this Agreement or with the prior written consent of the Required Supporting Noteholders, (i) conduct its businesses in compliance with all applicable laws, rules and regulations, (ii) use commercially reasonable efforts to preserve the relationships with the current customers, distributors, suppliers, vendors and others having business dealings with the Company, (iii) maintain its physical assets, properties and facilities in their current working order, condition and repair as of the date hereof, ordinary wear and tear excepted, (iv) not take any action, or omit to take any action, the intent of which is to cause the termination of their current officers, (v) perform all obligations required to be performed by the Company under the executory contracts, (vi) maintain its books and records on a basis consistent with prior practice, (vii) ▇▇▇▇ for products sold or services rendered and pay accounts payable in a manner consistent with past practice, (viii) maintain all insurance policies required, or suitable replacements therefor, in full force and effect through the close of business on the Effective Date, (ix) provide the Supporting Noteholder Group with updated monthly financial information concerning the Company; provided, however, that any Supporting Noteholder may, by providing written notice to the Company, elect not to receive such financial information, (x) not encumber nor enter into any material new leases, licenses or other use or occupancy agreements for real property or any part thereof, (xi) timely pay any and all required fees and taxes with respect to patents (if any), patent applications (if any), any trademark applications and any registered trademarks, and (xii) not enter into any agreement with any labor union or labor organization, including but not limited to any collective bargaining agreement, except as required by applicable law; in each case consistent with the Company’s reasonable evaluation of its available liquidity and financial wherewithal and where the available liquidity and financial wherewithal renders the Company unable to comply with the foregoing, in consultation with the Supporting Noteholder Group.
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Business Continuance. Except as contemplated by this Support Agreement or with the consent of the Majority Participating Creditors, the GateHouse Parties covenant and agree that, between the date hereof and the Plan Effective Date, the GateHouse Parties shall operate their businesses in the ordinary course in a manner consistent with past practice in all material respects (other than any changes in operations (i) resulting from or relating to the Plan or the proposed or actual filing of the Chapter 11 Cases or (ii) imposed by the Bankruptcy Court).
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Business Continuance. Unless otherwise consented to in writing by the Required Supporting Second Lien Lenders, and except for changes resulting from or relating to the filing of the Chapter 11 Cases or imposed by the Bankruptcy Court, the Debtors agree that, between the date of this Agreement and the Effective Date, the Debtors shall (i) operate their businesses in the ordinary course in a manner consistent with past practice in all material respects; (ii) use commercially reasonable efforts to preserve relationships with current customers, distributors, suppliers, vendors, and others having business dealings with the Debtors, including the performance of all material obligations under any executory contracts which have not been rejected; (ii) maintain and insure their physical assets, properties, and facilities in their current condition as of the date hereof (ordinary wear and tear excepted); and (iii) maintain the Debtors’ books and records on a basis consistent with prior practice, including historical billing and collection practices.
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Related to Business Continuance

  • Effective Date; Duration; Continuance (a) This Agreement shall become effective on January 1, 2020. (b) Subject to prior termination pursuant to Section 8.2 below, this Agreement shall continue in force until the next annual renewal, and indefinitely thereafter, but only so long as the continuance after such date shall be specifically approved at least annually by vote of the Trustees or by a vote of a majority of the outstanding voting securities of the Fund, provided that in either event such continuance shall also be approved by the vote of a majority of the Trustees who are not “interested persons” (as such term is defined in the Investment Company Act) of any party to this Agreement cast in person at a meeting called for the purpose of voting on such approval. (c) Except to the extent that the Trust has obtained and/or relies upon an exemptive order of the Commission or a no-action letter of the staff of the Commission providing relief from the requirement to obtain shareholder approval of this Agreement, the required shareholder approval of this Agreement or any continuance of this Agreement shall be effective with respect to the Fund if a majority of the outstanding voting securities of the series (as defined in Rule 18f-2(h) under the Investment Company Act) of shares of the Fund votes to approve this Agreement or its continuance.

  • Conversion and Continuance Each Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurodollar Borrowing, shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the Borrower may elect to convert such Borrowing to a different Type or to continue such Borrowing and, in the case of a Eurodollar Borrowing, may elect Interest Periods therefor, all as provided in this Section 2.04. The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate Borrowing.

  • Salary Continuance The Employer will continue the salary and benefits coverage of an Employee who is granted leave without pay in accordance with Article 13.01 and will bill the relevant Union for the Employee’s salary. If the leave extends beyond three calendar months, the Employer will, from that point, bill the relevant Union 1.2 times the Employee’s salary until the leave is concluded.

  • Continuance The Parties hereby confirm that the provisions of the Receivables Transfer Agreement and the other Transaction Documents shall continue in full force and effect, subject only to the amendments effected thereto by this Amendment.

  • Formation and Continuation The Partnership is a limited partnership heretofore formed and continued pursuant to the provisions of the Act and upon the terms and subject to the conditions set forth in this Agreement. Except as expressly provided herein to the contrary, the rights and obligations of the Partners and the administration and termination of the Partnership shall be governed by the Act. The Partnership Interest of each Partner shall be personal property for all purposes.