Common use of Conditions of the Closing Clause in Contracts

Conditions of the Closing. SECTION 7.01 Conditions to Each Party's Obligation to Effect the Transaction The respective obligations of each party to effect the Transaction contemplated herein shall be subject to the satisfaction at or prior to the Effective Time of the following conditions, any or all of which may be waived, in whole or in part to the extent permitted by applicable law. No governmental authority of competent jurisdiction shall have enacted, issued, promulgated, enforced or entered any statute, rule, regulation, execution order, decree, injunction or other order (whether temporary, preliminary or permanent) which is in effect and which materially restricts, prevents or prohibits consummation of the Transaction or any transaction contemplated by this Agreement; provided, however, that the parties shall use reasonable commercial efforts to cause any such decree, judgment, injunction or other order to be vacated or lifted.

Appears in 2 contracts

Samples: Acquisition and Purchase Agreement (Hinto Energy, Inc), Acquisition and Purchase Agreement (Legacy Technology Holdings, Inc.)

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Conditions of the Closing. SECTION 7.01 Conditions to Each Party's Obligation to Effect the Transaction The respective obligations of each party to effect close the Transaction contemplated herein shall be subject to the satisfaction at or prior to the Effective Time Closing of the following conditionscondition, any or all of which may be waived, in whole or in part to the extent permitted by applicable lawLaw. No governmental authority Governmental Authority of competent jurisdiction shall have enacted, issued, promulgated, enforced or entered any statute, rule, regulation, execution order, decree, injunction or other order (whether temporary, preliminary or permanent) which is in effect and which materially restricts, prevents or prohibits consummation of the Transaction or any transaction contemplated by this Agreement; provided, however, that the parties shall use reasonable commercial efforts to cause any such decree, judgment, injunction or other order to be vacated or lifted.

Appears in 2 contracts

Samples: Acquisition and Purchase Agreement (TPT Global Tech, Inc.), Asset Acquisition Agreement (TPT Global Tech, Inc.)

Conditions of the Closing. SECTION 7.01 Conditions to Each Party's Obligation to Effect the Transaction The respective obligations of each party to effect close the Transaction contemplated herein shall be subject to the satisfaction at or prior to the Effective Time Closing of the following conditionscondition, any or all of which may be waived, in whole or in part to the extent permitted by applicable lawLaw. No governmental authority Governmental Authority of competent jurisdiction shall have enacted, issued, promulgatedpromulgated , enforced or entered any statute, rule, regulation, execution order, decree, injunction or other order (whether temporary, preliminary or permanent) which is in effect and which materially restricts, prevents or prohibits consummation of the Transaction or any transaction contemplated by this Agreement; provided, however, that the parties shall use reasonable commercial efforts to cause any such decree, judgment, injunction or other order to be vacated or lifted.

Appears in 1 contract

Samples: Acquisition and Purchase Agreement (TPT Global Tech, Inc.)

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Conditions of the Closing. SECTION 7.01 6.01 Conditions to Each Party's Obligation to Effect the Transaction The respective obligations of each party to effect close the Transaction contemplated herein shall be subject to the satisfaction at or prior to the Effective Time Closing of the following conditionscondition, any or all of which may be waived, in whole or in part to the extent permitted by applicable lawLaw. No governmental authority Governmental Authority of competent jurisdiction shall have enacted, issued, promulgated, enforced or entered any statute, rule, regulation, execution order, decree, injunction or other order (whether temporary, preliminary or permanent) which is in effect and which materially restricts, prevents or prohibits consummation of the Transaction or any transaction contemplated by this Agreement; provided, however, that the parties shall use reasonable commercial efforts to cause any such decree, judgment, injunction or other order to be vacated or lifted.

Appears in 1 contract

Samples: Agreement (OROSA Holdings, Inc.)

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