Continued Existence; Name Change Sample Clauses

Continued Existence; Name Change. (a) Seller and Owners shall take all actions necessary to maintain the existence of Seller and maintain the Seller FCC Permit in full force and effect for a period of 18 months after the Closing. Seller shall, and Owners shall take all action necessary to cause Seller to, deactivate or otherwise cancel the Seller FCC Permit on the date that is 18 months after the Closing or such earlier date as Buyer shall reasonably request. (b) Seller shall, and Owners shall take all action necessary to cause Seller to, change its name and all fictitious or assumed names to a name that does not include “SkyNet” or “Telecom” (or any variations thereof) within ten Business Days after the Closing Date and thereafter neither Seller nor any Owner shall use any name, trade name, trademark, service ▇▇▇▇, domain name or titles including or confusingly similar to “SkyNet Telecom” or any derivative thereof. (c) Seller shall not, and Owners shall not authorize or approve or take any action authorizing or approving Seller to, distribute any assets or properties of Seller to any Person, whether in liquidation or otherwise, prior to the expiration of 18 months after the Closing; provided, however, that Seller may distribute all or any portion of the Purchase Price to Owners subject to an obligation of Owners to recontribute such distribution to Seller as necessary for Seller to fully perform its obligations under this Agreement. Buyer and PR shall be third party beneficiaries of, and be entitled to specifically enforce, such obligation of the Owners to recontribute their proportionate shares of any part of the Purchase Price distributed by Seller to the Owners.