Law School Campus in Fort Worth Sample Clauses

Law School Campus in Fort Worth. Buyer agrees that Buyer and its Affiliates shall maintain the Law School or another comparable law school campus within the city limits of Fort Worth, Texas for a period of not less than ten (10) years after the Closing Date. The covenant described in this Section 12.5 shall terminate on the earlier to occur of (i) the tenth anniversary of the Closing Date, (ii) the date, if applicable, on which the Law School or such other law school campus within the city limits of Fort Worth, Texas ceases to be financially, operationally, and academically viable, as determined by Buyer in its reasonable discretion, or (iii) the date, if applicable, of a material default by Seller under the Option Agreement which default has not been cured by Seller within thirty (30) days of receiving written notice from Buyer. The Parties acknowledge and agree that in no event shall the covenant described in this Section 12.5 be deemed to constrain, restrict or otherwise prohibit Buyer or any of its Affiliates from (i) establishing another law school campus outside the city limits of Fort Worth, Texas, or (ii) moving the Law School outside the city limits of Fort Worth, Texas, so long as Buyer and its Affiliates otherwise maintains another comparable law school campus within the city limits of Fort Worth, Texas in accordance with the provisions of this Section 12.5. For the avoidance of doubt, a "comparable" law school campus shall include, but not be limited to, a law school campus that is fully accredited by the ABA or that is otherwise part of a law school fully accredited by the ABA; it being understood that such comparable law school campus within the city limits of Fort Worth, Texas must provide a full law school academic program that grants a juris doctor degree.
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