Common use of Conditions to Obligations of Buyer and the Sellers Clause in Contracts

Conditions to Obligations of Buyer and the Sellers. The obligations of Buyer (and any Designated Buyer) and the Sellers to consummate the Closing are subject to the satisfaction of the following conditions: (a) Any applicable waiting period under the HSR Act relating to the transactions contemplated hereby shall have expired or been terminated. (b) The Confirmation Order shall have been entered by the Bankruptcy Court, shall be in full force and effect, shall not be stayed or subject to any appeal, shall not have been modified or amended without the written consent of the Parties and shall not have been reversed or vacated; provided, that the foregoing condition as it applies to the absence of any appeal may be waived by Buyer without the consent of the Sellers. (c) Each of the conditions to the Effective Date of the Plan of Reorganization shall have been satisfied or waived. (d) No Governmental Authority shall have enacted, issued, promulgated, enforced or entered any order, writ, judgment, injunction, decree stipulation, determination or award which is in effect and has the effect of making any of the transactions contemplated by this Agreement illegal, otherwise restraining or prohibiting consummation of the transactions contemplated by this Agreement or causing any of the transactions contemplated by this Agreement to be rescinded following completion thereof or delaying the consummation of the transactions contemplated by this Agreement beyond the End Date.

Conditions to Obligations of Buyer and the Sellers. The obligations of Buyer (and any Designated Buyer) and the Sellers to consummate the Closing are subject to the satisfaction of the following conditions: (a) Any applicable waiting period under the HSR Act relating to the transactions contemplated hereby shall have expired or been terminated. (b) The Confirmation Sale Order shall have been entered by the Bankruptcy CourtCourt in a form satisfactory to Buyer in its discretion, shall be in full force and effect, shall not be stayed or subject to any appealstayed, shall not have been modified or amended without the written consent of the Parties and shall not have been reversed or vacated; provided, that the foregoing condition as it applies to the absence of any appeal may be waived by Buyer without the consent of the Sellers. (c) Each of the conditions to the Effective Date of the Plan of Reorganization shall have been satisfied or waived. (d) No Governmental Authority shall have enacted, issued, promulgated, enforced or entered any order, writ, judgment, injunction, decree stipulation, determination or award which is in effect and has the effect of making any of the transactions contemplated by this Agreement illegal, otherwise restraining or prohibiting consummation of the transactions contemplated by this Agreement or causing any of the transactions contemplated by this Agreement to be rescinded following completion thereof or delaying the consummation of the transactions contemplated by this Agreement beyond the End Datethereof.