Common use of Contracts and Other Commitments Clause in Contracts

Contracts and Other Commitments. The Company does not have any contract, agreement, lease, commitment or proposed transaction, written or oral, absolute or contingent, other than (i) contracts for the purchase of supplies and services that were entered into in the ordinary course of business and that do not involve more than $50,000, and do not extend for more than one (1) year beyond the date hereof, (ii) sales contracts entered into in the ordinary course of business, and (iii) contracts terminable at will by the Company on no more than thirty (30) days notice without cost or liability to the Company and that do not involve any employment or consulting arrangement and are not material to the conduct of the Company's business. For the purpose of this paragraph, employment and consulting contracts and contracts with labor unions, and license agreements and any other agreements relating to the acquisition or disposition of the Company's technology, shall not be considered to be contracts entered into in the ordinary course of business.

Appears in 4 contracts

Samples: Series E Preferred Stock Purchase Agreement (Discovery Partners International Inc), Series E Preferred Stock Purchase Agreement (Discovery Partners International Inc), Preferred Stock Purchase Agreement (Collateral Therapeutics Inc)

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Contracts and Other Commitments. The Company does not have any contract, agreement, lease, commitment or proposed transactioncommitment, written or oral, absolute or contingent, other than (i) contracts for the purchase of supplies and services that were entered into in the ordinary course of business and that do not involve more than $50,000, and do not extend for more than one (1) year beyond the date hereof, (ii) sales contracts entered into in the ordinary course of businessbusiness that do not involve more than $50,000, and (iii) contracts terminable at will by the Company on no more than thirty ninety (3090) days notice without cost or liability to the Company and that do not involve any employment or consulting arrangement and are not material to the conduct of the Company's business. For the purpose of this paragraph, employment and consulting contracts and contracts with labor unions, and license agreements and any other agreements relating to the acquisition or disposition of the Company's technology, shall not be considered to be contracts entered into in the ordinary course of business.

Appears in 2 contracts

Samples: Series E Preferred Stock Purchase Agreement (Open Solutions Inc), Series F Preferred Stock Purchase Agreement (Open Solutions Inc)

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Contracts and Other Commitments. The Company does not have any contract, agreement, lease, commitment or proposed transaction, written or oral, absolute or contingent, other than (i) contracts for the purchase of supplies and services that were entered into in the ordinary course of business and that do not involve more than $50,000100,000, and do not extend for more than one (1) year beyond the date hereof, (ii) sales contracts entered into in the ordinary course of business, and (iii) contracts terminable at will by the Company on no more than thirty (30) days notice without cost or liability to the Company and that do not involve any employment or consulting arrangement and are not material to the conduct of the Company's business. For the purpose of this paragraphsection, employment and consulting contracts and contracts with labor unions, and license agreements and any other agreements relating to the acquisition or disposition of the Company's technology, shall not be considered to be contracts entered into in the ordinary course of business.

Appears in 1 contract

Samples: Series E Preferred Stock and Warrant Purchase Agreement (Applied Voice Recognition Inc /De/)

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