Negative Obligations. In order to guarantee the performance by Party B of the agreement entered into by and between Party A and Party B and all of Party B’s obligations towards Party A, the Founding Shareholders hereby acknowledge, agree and jointly warrants that without prior written consent of Party A or any party designated by Party A, Party B shall not engage in any transaction which may have material or adverse effect on any of its assets, businesses, employees, obligations, rights or operations, including without limitation: 1.1 Conduct of any activity outside its ordinary course of business or in a manner inconsistent with its past practice; 1.2 Making any borrowing or undertaking any indebtedness from any third party; 1.3 Change or removal of any of its directors or senior officers; 1.4 Sale, acquisition or any other disposal of any assets or rights, including without limitation any intellectual property rights, with any third party; 1.5 Creation of any guarantee or any other security on any of its assets or intellectual properties in favor of any third party, or creation of any encumbrance on any of its assets; 1.6 Change of its articles of association or its scope of business; 1.7 Change of its ordinary course of business or any of its material bylaws; 1.8 Transfer any of its rights or obligations under this Agreement to any third party; 1.9 Making any material change to its business pattern, marketing strategy, business plan or customer relationship; and 1.10 Distribution of any bonus or dividend.
Appears in 6 contracts
Samples: Business Operation Agreement (Momo Inc.), Business Operation Agreement (Momo Inc.), Business Operation Agreement (Momo Inc.)
