Common use of Legal Compliance and Proceedings Clause in Contracts

Legal Compliance and Proceedings. The Seller has not received any notice from a Governmental Body alleging that it is not in compliance with all material Legal Requirements associated with the operation of the business and there is no pending Proceeding: (a) that has been commenced by or against the Seller or that otherwise relates to or may affect the business of, or any of the property or assets owned or used by, the Seller; or (b) that challenges, or that may have the effect of preventing, delaying, making illegal, or otherwise interfering with, any of the transaction contemplated hereunder.

Appears in 2 contracts

Samples: Executive Employment Agreement (Vape Holdings, Inc.), Asset Purchase Agreement (Peoplestring Corp)

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Legal Compliance and Proceedings. The Seller has not received any notice from a Governmental Body governmental agency alleging that it is not in compliance with all material Legal Requirements associated with the operation of the business Assets, and there is no pending Proceeding: (a) that has been commenced by or against the Seller or that otherwise relates to or may affect the business of, or any of the property or assets owned or used by, the SellerAssets; or (b) that challenges, or that may have the effect of preventing, delaying, making illegal, or otherwise interfering with, any of the transaction transactions contemplated hereunder.

Appears in 1 contract

Samples: Asset Purchase Agreement (Development Capital Group, Inc.)

Legal Compliance and Proceedings. The Seller has not received any notice from a Governmental Body alleging that it is not in compliance with all material Legal Requirements associated with the operation of the business and there is no pending Proceeding: (a) that has been commenced by or against the Seller or that otherwise relates to or may affect the business of, or any of the property or assets owned or used by, the Seller; or (b) that challenges, or that may have the effect of preventing, delaying, making illegal, or otherwise interfering with, any of the transaction transactions contemplated hereunder.

Appears in 1 contract

Samples: Asset Purchase Agreement (Game Plan Holdings, Inc.)

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Legal Compliance and Proceedings. The Except as disclosed, the Seller has not received any notice from a Governmental Body any governmental authority alleging that it is not in compliance with all material Legal Requirements legal requirements associated with the operation of the business and Purchased Assets and, to the Knowledge of the Seller, there is no pending Proceedingproceeding: (ai) that has been commenced by or against the Seller or and that otherwise relates to or may affect the business Business of, or any of the property or assets owned or used by, the SellerPurchased Assets; or (bii) that challenges, or that may have the effect of preventing, delaying, making illegal, or otherwise interfering with, any of the transaction transactions contemplated hereunder.

Appears in 1 contract

Samples: Asset Purchase Agreement

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