Common use of Mutual Conditions to the Obligations of the Parties Clause in Contracts

Mutual Conditions to the Obligations of the Parties. The respective obligations of each party hereto to consummate the Transfer are subject to the satisfaction or, to the extent permitted by applicable Law, waiver, at or prior to the Closing, of the following condition: (a) No Injunctions or Legal Prohibitions. No temporary restraining order, preliminary or permanent injunction or other judgment, order or decree issued by a court of competent jurisdiction which prevents the consummation of the Transfer shall have been issued after the date hereof and remain in effect, and no statute, rule or regulation shall have been enacted, promulgated or enforced by any Governmental Body after the date hereof which makes the consummation of the Transfer illegal; provided, that the parties hereto shall use their reasonable best efforts to have any temporary or preliminary order or injunction lifted.