Common use of Litigation; Other Events Clause in Contracts

Litigation; Other Events. (a) No preliminary or permanent injunction or other order of any court restraining or prohibiting the consummation of the Transactions contemplated hereby shall be in effect. (b) There shall not be pending any inquiry by any Governmental Body or Legal Proceeding that seeks, nor any Law that would have the effect, to: (i) challenge, restrain, prohibit or delay the sale and purchase of the Securities, the Convertible Preferred Stock, or the Nonvoting Warrant Shares pursuant to this Agreement or any of the Transactions contemplated hereby or obtain damages as a result thereof; (ii) make the sale or purchase of the Securities, the Convertible Preferred Stock, or the Nonvoting Warrant Shares pursuant to this Agreement or any of the Transactions contemplated hereby illegal or in violation of any duty; (iii) impose or result in material limitations on the ability of Purchaser or any of its Affiliates to exercise full rights of ownership of the portion of the Securities, the Convertible Preferred Stock, or the Nonvoting Warrants purchased by it hereunder, or any of the Transactions contemplated hereby including, without limitation, the right to vote the Shares (and the Series A Preferred Stock, or the underlying Stock, issued upon the conversion of the Tranche A Note) on all matters properly presented to the shareholders of the Company as contemplated by the Amendment; or (iv) impose upon Purchaser or the Company, directly or indirectly, the restraints or conditions set forth in the TBCA Business Combinations Provisions or in Article Nine of the Charter or similar restraints or conditions.

Litigation; Other Events. (a) No preliminary or permanent injunction or other order of any court restraining or prohibiting the consummation of the Transactions transactions contemplated hereby shall be in effect. (b) There shall not be pending pending, nor shall there have been threatened, any inquiry by any Governmental Body or Legal Proceeding that seeks, nor any Law that would have the effect, to: (i) challenge, restrain, prohibit or delay the sale and purchase of the SecuritiesShares, the Convertible Preferred StockNonvoting Shares, or the Nonvoting Warrant Shares pursuant to this Agreement or any of the Transactions transactions contemplated hereby or obtain damages as a result thereof; (ii) make the sale or purchase of the SecuritiesShares, the Convertible Preferred StockNonvoting Shares, or the Nonvoting Warrant Shares pursuant to this Agreement or any of the Transactions contemplated hereby illegal or in violation of any duty; (iii) impose or result in material limitations on the ability of Purchaser or any of its Affiliates to exercise full rights of ownership of the portion of the SecuritiesShares, the Convertible Preferred StockNonvoting Shares, or the Nonvoting Warrants Warrant Shares purchased by it hereunder, or any of the Transactions contemplated hereby including, without limitation, the right to vote the Shares (and the Series A Preferred Stock, or the underlying Stock, issued upon the conversion of the Tranche A Note) purchased by it hereunder on all matters properly presented to the shareholders of the Company as contemplated by the AmendmentCompany; or (iv) impose upon Purchaser or the Company, directly or indirectly, the restraints or conditions set forth in the TBCA Business Combinations Provisions or in Article Nine of the Charter or similar restraints or conditions.

Litigation; Other Events. (a) No preliminary or permanent injunction or other order of any court restraining or prohibiting the consummation of the Transactions transactions contemplated hereby shall be in effect. (b) Except with respect to these items listed in Section 8.4(b) of the Disclosure Schedule as the same exist on the date hereof and without giving effect to adverse developments in such matters between the date hereof and the Closing Date, there shall not be pending, nor shall there have been threatened, any inquiry by any Governmental Body or Legal Proceeding which, individually or in the aggregate could reasonably be expected to have a Material Adverse Effect. (c) There shall not be pending pending, nor shall there have been threatened, any inquiry by any Governmental Body or Legal Proceeding that seeks, nor any Law that would have the effect, to: (i) challenge, restrain, prohibit or delay the sale and or purchase of the SecuritiesShares, the Convertible Preferred StockNonvoting Shares, or the Nonvoting Warrant Shares pursuant to this Agreement or any of the Transactions transactions contemplated hereby or obtain damages as a result thereof; (ii) make the sale or purchase of the SecuritiesShares, the Convertible Preferred StockNonvoting Shares, or the Nonvoting Warrant Shares pursuant to this Agreement or any of the Transactions contemplated hereby illegal or in violation of any duty; (iii) impose or result in material limitations on the ability of Purchaser or any of its Affiliates to exercise full rights of ownership of the portion of the SecuritiesShares, the Convertible Preferred StockNonvoting Shares, or the Nonvoting Warrants Warrant Shares purchased by it hereunder, or any of the Transactions contemplated hereby including, without limitation, the right to vote the Shares (and the Series A Preferred Stock, or the underlying Stock, issued upon the conversion of the Tranche A Note) purchased by it hereunder on all matters properly presented to the shareholders of the Company as contemplated by the AmendmentCompany; or (iv) impose upon Purchaser or the Company, directly or indirectly, the restraints or conditions set forth in the TBCA Business Combinations Provisions or in Article Nine of the Charter or similar restraints or conditions.