No Action Preventing Issuance Clause Samples
The "No Action Preventing Issuance" clause ensures that no party to the agreement will take steps or engage in conduct that would hinder or delay the issuance of a specific document, approval, or instrument required under the contract. In practice, this means that each party is obligated to refrain from filing objections, initiating legal proceedings, or otherwise interfering with the process necessary for the issuance to occur. This clause is essential for maintaining the smooth progress of transactions by preventing deliberate or inadvertent actions that could block or postpone critical approvals or documents.
No Action Preventing Issuance. No action shall have been taken and no law, statute, rule, regulation or order shall have been enacted, adopted or issued by any governmental agency or body which would prevent the issuance or sale of the Shares or materially and adversely affect the business or operations of the Company and its Subsidiaries, taken as a whole; and no injunction, restraining order or order of any other nature by any United States federal or state court of competent jurisdiction shall have been issued which would prevent the issuance or sale of the Shares or materially and adversely affect the business or operations of the Company or its Subsidiaries, taken as a whole.
No Action Preventing Issuance. No action shall have been taken and no statute, rule, regulation or order shall have been enacted, adopted or issued by any governmental agency or body which would, as of the Closing Date, prevent the issuance or sale of the Securities, and no injunction, restraining order or order of any other nature by any federal or state court of competent jurisdiction shall have been issued as of the Closing Date which would prevent the issuance or sale of the Securities.