Interim Operations of the Acquired Entities Sample Clauses

Interim Operations of the Acquired Entities. (a) From the date hereof until the Closing, except (i) as expressly permitted by this Agreement (including the transactions described in Section 4.19, Section 4.20, Section 4.21, Section 4.22 and Section 4.23), (ii) as disclosed in Section 4.1(a) of the Seller Disclosure Schedule, (iii) as required by Law or (iv) as Parent may otherwise consent in writing (which consent may not be unreasonably withheld, conditioned or delayed), (A) the Seller Parties shall use commercially reasonable efforts to cause the Acquired Entities to carry on their businesses in the ordinary course consistent, in all material respects, with past practice and (B) to the extent consistent therewith, use commercially reasonable efforts to preserve its business and goodwill and its relationships with Governmental Authorities, customers, suppliers, landlords and other persons with which it has material business relations, and to keep available the services of its current officers and employees.
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Interim Operations of the Acquired Entities. (a) Prior to the Closing or the earlier termination of this Agreement in accordance with its terms, except (w) as required, permitted or contemplated hereby, (x) as required by applicable Law, (y) as disclosed in Section 6.1 of the Disclosure Schedule or (z) with the prior written consent of Buyers (which shall not be unreasonably withheld, conditioned or delayed), the Sellers shall cause the Acquired Entities to (i) conduct their respective businesses in the Ordinary Course of Business in all material respects and preserve intact the current business organization, (ii) use commercially reasonable efforts to keep available the services of current officers, employees and agents of each Acquired Entity and (iii) use commercially reasonable efforts to maintain in good state the relations and goodwill with customers, suppliers, licensors, licensees, distributors, creditors, employees, agents and others having business relationships with an Acquired Entity. (b) Prior to the Closing or the earlier termination of this Agreement in accordance with its terms, except (w) as required, permitted or contemplated hereby, (x) as required by applicable Law, (y) as disclosed in Section 6.1 of the Disclosure Schedule or (z) with the prior written consent of Buyers (which shall not be unreasonably withheld, conditioned or delayed), the Sellers shall not permit any of the Acquired Entities to do any of the following: (i) amend its Organizational Documents or D&O Indemnification Obligations; (ii) issue, sell, pledge, transfer, redeem or acquire any Equity Interests, or effect any recapitalization, reclassification or similar change in its capitalization; (iii) declare, set aside or pay any non-cash dividend or distribution on or with respect to any Equity Interest or ownership interest in any Acquired Entity; (iv) merge or consolidate with any other Person or restructure, reorganize or completely or partially liquidate (or adopt a plan of liquidation); (v) acquire (including by merger or consolidation, or by purchasing a substantial portion of the assets or capital stock or any other Equity Interest in) or by any other manner, any other Entity; (vi) sell, transfer, lease (as lessor) or license (as licensor) to any Third Party any of its material tangible or intangible assets or properties; (vii) permit or allow the Purchased Interests or any of the assets or properties of the Acquired Entities to become subjected to any Lien (other than Permitted Liens); (viii) (i) borrow any ...

Related to Interim Operations of the Acquired Entities

  • Interim Operations of the Company The Company covenants and agrees, as to itself and its subsidiaries, that, prior to the Effective Time (unless Purchaser shall otherwise consent in writing and except as otherwise permitted by this Agreement): (a) the business of the Company and its subsidiaries shall be conducted only in the ordinary and usual course and, to the extent consistent therewith, each of the Company and its subsidiaries shall use its commercially reasonable efforts to preserve its business organization intact and maintain (b) the Company shall not (i) sell or pledge or agree to sell or pledge any stock or other securities owned by it or permit any of its subsidiaries to sell, pledge or agree to sell or pledge any stock or other securities owned by such subsidiary; (ii) amend the Certificate or its bylaws or amend, modify or terminate the Rights Agreement, or redeem the Rights issued pursuant thereto; (iii) split, combine or reclassify the outstanding Shares; or (iv) declare, set aside or pay any dividend payable in cash, stock or property with respect to the Shares; (c) neither the Company nor any of its subsidiaries shall (i) issue, sell, pledge, dispose of or encumber any additional shares of, or securities convertible into or exchangeable for, or options, warrants, calls, commitments or rights of any kind to acquire, any shares of its capital stock of any class of the Company, its subsidiaries or any other property or assets other than, in the case of the Company, Shares issuable pursuant to options outstanding on the date hereof under the Stock Plans and shares issuable pursuant to the Warrants; (ii) transfer, lease, license, guarantee, sell, mortgage, pledge, dispose of or encumber any assets or incur or modify any indebtedness or other liability other than in the ordinary and usual course of business; (iii) acquire directly or indirectly by redemption or otherwise any shares of the capital stock of the Company or any of its subsidiaries or (iv) authorize capital expenditures in excess of $50,000 individually or $100,000 in the aggregate or make any acquisition of (by merger, consolidation or acquisition of stock or assets), or any investment in, assets or stock of any other person or entity (other than acquisitions of assets in the ordinary course of business consistent with past practice); (d) neither the Company nor any of its subsidiaries shall grant any severance or termination pay to, or enter into any employment or severance agreement with any director, officer or other employee of the Company or any such subsidiary; and neither the Company nor any of its subsidiaries shall establish, (e) neither the Company nor any of its subsidiaries shall settle or compromise any material claims or litigation or, except in the ordinary and usual course of business and with the consent of Purchaser, modify, amend or terminate any of its material Contracts or waive, release or assign any material rights or claims; (f) neither the Company nor any of its subsidiaries shall make any tax election or permit any insurance policy naming it as a beneficiary or a loss payable payee to be canceled or terminated without notice to Purchaser, except in the ordinary and usual course of business; (g) except as may be required as a result of a change in law or in generally accepted accounting principles, neither the Company nor any of its subsidiaries shall change any of the accounting practices or principles used by it; (h) neither the Company nor any of its subsidiaries shall adopt a plan of complete or partial liquidation, dissolution, merger, consolidation, restructuring, recapitalization, or other reorganization of the Company (other than the Merger and other than in compliance with Section 9.4(a)); and (i) neither the Company nor any of its subsidiaries will authorize or enter into an agreement to do any of the foregoing or take any action that would knowingly cause any of the representations or warranties of the Company contained in this Agreement to be untrue or incorrect or would result in any of the Offer Conditions set forth in Annex A hereto not being satisfied.

  • Interim Operations of Merger Sub Merger Sub was formed solely for the purpose of engaging in the transactions contemplated by this Agreement, has engaged in no other business activities and has conducted its operations only as contemplated by this Agreement.

  • Management and Operations of Business Except as otherwise expressly provided in this Agreement, all powers to control and manage the business and affairs of the Partnership shall be vested exclusively in the General Partner; the Limited Partner shall not have any power to control or manage the Partnership.

  • Additional Conditions to the Obligations of Parent and Merger Sub The obligations of Parent and Merger Sub to consummate and effect the Merger shall be subject to the satisfaction at or prior to the Closing Date of each of the following conditions, any of which may be waived, in writing, exclusively by Parent:

  • MANAGEMENT OF THE BUSINESS Pursuant to Section 00-00-000 of the Act, and as stated in its Articles, the Company’s day to day affairs are managed by the Member. The Member is responsible for the daily operations of the business.

  • Additional Conditions to Obligations of Parent and Merger Sub The obligations of Parent and Merger Sub to consummate the Merger are subject to the satisfaction at or prior to the Effective Time of the following conditions, any or all of which may be waived exclusively by Parent, in whole or in part, to the extent permitted by applicable Law:

  • Obligations of Parent and of the Company Whenever this Agreement requires a Subsidiary of Parent to take any action, such requirement shall be deemed to include an undertaking on the part of Parent to cause such Subsidiary to take such action. Whenever this Agreement requires a Subsidiary of the Company to take any action, such requirement shall be deemed to include an undertaking on the part of the Company to cause such Subsidiary to take such action and, after the Effective Time, on the part of the Surviving Corporation to cause such Subsidiary to take such action.

  • Conditions to the Obligations of Parent and Merger Sub The obligations of Parent and Merger Sub to consummate the Merger are subject to the satisfaction or waiver (where permissible) of the following additional conditions:

  • Conditions to Obligations of Parent and Merger Sub The obligations of Parent and Merger Sub to effect the Merger are also subject to the satisfaction or waiver by Parent at or prior to the Effective Time of the following conditions:

  • CONDITIONS PRECEDENT TO OBLIGATIONS OF PARENT AND MERGER SUB The obligations of Parent and Merger Sub to effect the Merger and otherwise consummate the transactions contemplated by this Agreement are subject to the satisfaction, at or prior to the Closing, of each of the following conditions:

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