Common use of Material and Independent Covenant Clause in Contracts

Material and Independent Covenant. The Company Stockholders acknowledge that their agreements with the covenants set forth in this Article VII are material conditions to IES's agreement to execute and deliver this Agreement and to consummate the transactions contemplated hereby. All of the covenants in this Article VII shall be construed as an agreement independent of any other provision in this Agreement, and the existence of any claim or cause of action of any Company Stockholder against IES or one of its subsidiaries, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by IES of such covenants. It is specifically agreed that the two-year period during which the agreements and covenants of each Company Stockholder made in this Article VII shall survive shall be computed by excluding from such computation any time during which such Company Stockholder is in violation of any provision of this Article VII. The covenants contained in this Article VII shall not be affected by any breach of any other provision hereof by any party hereto.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Integrated Electrical Services Inc), Agreement and Plan of Merger (Integrated Electrical Services Inc)

AutoNDA by SimpleDocs

Material and Independent Covenant. The Company Stockholders acknowledge Stockholder acknowledges that their agreements his agreement with the covenants set forth in this Article VII are is a material conditions condition to IES's agreement to execute and deliver this Agreement and to consummate the transactions contemplated hereby. All of the covenants in this Article VII shall be construed as an agreement independent of any other provision in this Agreement, and the existence of any claim or cause of action of any the Company Stockholder against IES or one of its subsidiaries, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by IES of such covenants. It is specifically agreed that the two-year period during which the agreements and covenants of each the Company Stockholder made in this Article VII shall survive shall be computed by excluding from such computation any time during which such the Company Stockholder is in violation of any provision of this Article VII. The covenants contained in this Article VII shall not be affected by any breach of any other provision hereof by any party hereto.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Integrated Electrical Services Inc)

Material and Independent Covenant. The Company Stockholders acknowledge that their agreements with the covenants set forth in this Article VII are material conditions to IESPentacon's agreement to execute and deliver this Agreement and to consummate the transactions contemplated hereby. All of the covenants in this Article VII shall be construed as an agreement independent of any other provision in this Agreement, and the existence of any claim or cause of action of any the Company Stockholder Stockholders against IES Pentacon or one of its subsidiariesSubsidiaries, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by IES Pentacon of such covenants. It is specifically agreed that the two-three year period during which the agreements and covenants of each the Company Stockholder Stockholders made in this Article VII shall survive shall be computed by excluding from such computation any time during which such the Company Stockholder is Stockholders are in violation of any provision of this Article VII. The covenants contained in this Article VII shall not be affected by any breach of any other provision hereof by any party hereto.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Pentacon Inc)

AutoNDA by SimpleDocs

Material and Independent Covenant. The Company Stockholders acknowledge that their agreements with the covenants set forth in this Article VII are material conditions to IES's agreement to execute and deliver this Agreement and to consummate the transactions contemplated hereby. All of the covenants in this Article VII shall be construed as an agreement independent of any other provision in this Agreement, and the existence of any claim or cause of action of any Company Stockholder against IES or one of its subsidiaries, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by IES of such covenants. It is specifically agreed that the two-five (5) year period during which the agreements and covenants of each Company Stockholder made in this Article VII shall survive shall be computed by excluding from such computation any time during which such Company Stockholder is in violation of any provision of this Article VII. The covenants contained in this Article VII shall not be affected by any breach of any other provision hereof hereby by any party hereto.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Integrated Electrical Services Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.