Common use of Commercially Reasonable Efforts to Close Clause in Contracts

Commercially Reasonable Efforts to Close. (a) Subject to the terms and conditions hereof, each party hereto covenants and agrees to use all commercially reasonable efforts to consummate the transactions contemplated hereby and will fully cooperate with the other parties hereto for such purpose. (b) The Company and each Contributor agrees to immediately notify the other parties to the Agreement of any event, fact or circumstance of which such party becomes aware that could reasonably be expected to result in the failure of a condition set forth in Sections 10 or 11 to be satisfied and, if such condition is curable, to allow such party a reasonable opportunity to satisfy such condition.

Appears in 2 contracts

Samples: Asset Contribution and Share Subscription Agreement (Independence Contract Drilling, Inc.), Asset Contribution and Share Subscription Agreement (Independence Contract Drilling, Inc.)

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Commercially Reasonable Efforts to Close. (a) Subject to the terms and conditions hereof, each party hereto covenants and agrees to use all commercially reasonable efforts to consummate the transactions contemplated hereby and will fully cooperate with the other parties hereto for such purpose. (b) The Company and each Contributor agrees Sellers agree to immediately notify the other parties to the Agreement Purchasers of any event, fact or circumstance of which such party any Seller becomes aware that could reasonably be expected to result in the failure of a condition set forth in Sections 10 Article IX or 11 X to be satisfied and, if such condition is curable, to allow such party Purchasers a reasonable opportunity to satisfy such condition.

Appears in 1 contract

Samples: Asset Purchase Agreement (Hub Group Inc)

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Commercially Reasonable Efforts to Close. (a) Subject to the terms and conditions hereof, each party hereto covenants and agrees to use all commercially reasonable efforts to consummate the transactions contemplated hereby and will fully cooperate with the other parties hereto for such purpose. (b) The Company and each Contributor Seller agrees to immediately notify the other parties to the Agreement Purchaser of any event, fact or circumstance of which such party Seller becomes aware that could reasonably be expected to result in the failure of a condition set forth in Sections 10 Article IX or 11 X to be satisfied and, if such condition is curable, to allow such party Purchaser a reasonable opportunity to satisfy such condition.

Appears in 1 contract

Samples: Asset Purchase Agreement (Hub Group Inc)

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