Common use of Negotiations with Third Parties Clause in Contracts

Negotiations with Third Parties. In consideration of the undertakings by the parties of the substantial legal, accounting and other expenses incident to the parties proceeding toward the closing of the transaction contemplated hereby the parties agree that, through the earlier of May 15, 1999 or the Closing Date, neither party will enter into or pursue any arrangements or negotiations with any other party relative to (i) the merger of TNCI into any other party or any purchase or sale of substantially all of the assets or control relative to any extraordinary transaction, in the case of TNCI, without the consent of IFT, and (ii) the acquisition by IFT of all or substantially all of the assets, or the voting control, of a company whose business is related to or in competition with the business conducted by TNCI, without the consent of TNCI.