By C3 Sample Clauses

By C3. From the date of this Agreement to and including the Closing Date, except as may be first approved by Isodiol or as is otherwise permitted or contemplated by this Agreement: (i) C3 shall conduct its business only in the usual and ordinary course without the creation of any additional indebtedness exceeding $5,000 for money borrowed maturing in more than one year; (ii) no change shall be made in the authorized capitalization of C3, except as contemplated by this Agreement; (iii) no shares of capital stock of C3 shall be authorized for issuance or issued, and no agreement or commitment for the issuance thereof shall be entered into; (iv) no rights or elections shall be created or granted to purchase stock under any employee stock bonus, thrift or purchase plan or otherwise; (v) no amendment shall be made to C3’s Articles of Incorporation or Bylaws, except as contemplated by this Agreement; (vi) no modification shall be made in C3’s present employee benefit programs or in its present policies in regard to the payment of salaries or compensation to its personnel and no increase shall be made in the compensation of its personnel; (vii) no contract or commitment shall be entered into by or on behalf of C3, and no sale or purchase of assets shall be made except in the ordinary course of business; (viii) C3 will use all reasonable and proper efforts to preserve its business organization intact, to keep available the services of its present employees, and to maintain satisfactory relationships between C3 and its suppliers, customers, regulatory agencies, and others having business relations with it; (ix) C3 shall make no amendments or contributions to any profit sharing plan; and (x) the Board of Directors of C3 will not declare any dividends on, or otherwise make any distribution in respect of, its outstanding shares of capital stock.
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