Common use of No Adverse U Clause in Contracts

No Adverse U. S. LEGISLATION, ACTION OR DECISION. Subsequent to the date hereof, no legislation, order, rule, ruling or regulation shall have been enacted or made by or on behalf of any governmental body, department or agency of the United States, nor shall any legislation have been introduced and favorably reported for passage to either House of Congress by any committee of either such House to which such legislation has been referred for consideration, nor shall any decision of any court of competent jurisdiction within the United States have been rendered which would materially and adversely affect an investment in the Shares. There shall be no action, suit, investigation or proceeding pending, or to the Company's knowledge, threatened, against or affecting the Company or any of its Subsidiaries, or any of their respective properties or rights, or any of their affiliates, associates, officers or directors, before any court, arbitrator or administrative or governmental body which (i) seeks to restrain, enjoin, prevent the consummation of or otherwise adversely affect the transactions contemplated by this Agreement or (ii) questions the validity or legality of any such transaction or seeks to recover damages or to obtain other relief in connection with any such transaction, and to the Company's knowledge there shall be no valid basis for any such action, proceeding or investigation.

Appears in 2 contracts

Samples: Stock Purchase Agreement (Willis Michael T), Stock Purchase Agreement (Equalnet Holding Corp)

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No Adverse U. S. LEGISLATION, ACTION OR DECISION. Subsequent to the date hereof, no No legislation, order, rule, ruling or regulation shall have been enacted or made by or on behalf of any governmental body, department or agency of the United States, nor shall any legislation have been introduced and favorably reported for passage to either House of Congress by any committee of either such House to which such legislation has been referred for considerationGovernmental Body, nor shall any decision of any court of competent jurisdiction within the United States have been rendered which would which, in the Company's reasonable judgment, could materially and adversely affect any of the New Notes or any part thereof as an investment in the Sharesinvestment. There shall be no action, suit, investigation or proceeding pending, pending or to the Company's knowledge, threatenedthreatened in writing, against or affecting the Company or Company, any of its Subsidiaries, or any of their respective properties or rights, or any of their affiliatesits Affiliates, associates, officers or directors, before any court, arbitrator or administrative or governmental body which (i) seeks to restrain, enjoin, prevent the consummation of or otherwise adversely affect the transactions contemplated by this Agreement and the other Transaction Documents, or (ii) questions the validity or legality of any such transaction transactions or seeks to recover damages or to obtain other relief in connection with any such transactiontransactions, and and, to the Company's knowledge knowledge, there shall be no valid basis for any such action, proceeding or investigation.

Appears in 1 contract

Samples: Securities Purchase Agreement (Silicon Gaming Inc)

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No Adverse U. S. LEGISLATION, ACTION OR DECISION. Subsequent to the date hereof, no No legislation, order, rule, ruling or regulation shall have been enacted or made by or on behalf of any governmental body, department or agency of the United States, nor shall any legislation have been introduced and favorably reported for passage to either House of Congress by any committee of either such House to which such legislation has been referred for considerationGovernmental Body, nor shall any decision of any court of competent jurisdiction within the United States have been rendered which would which, in the Company's reasonable judgment, could materially and adversely affect any of the Units or any part thereof as an investment in the Sharesinvestment. There shall be no action, suit, investigation or proceeding pending, pending or to the Company's knowledge, threatenedthreatened in writing, against or affecting the Company or Company, any of its Subsidiaries, or any of their respective properties or rights, or any of their affiliatesits Affiliates, associates, officers or directors, before any court, arbitrator or administrative or governmental body which (i) seeks to restrain, enjoin, prevent the consummation of or otherwise adversely affect the transactions contemplated by this Agreement and the other Transaction Documents, or (ii) questions the validity or legality of any such transaction transactions or seeks to recover damages or to obtain other relief in connection with any such transactiontransactions, and and, to the Company's knowledge knowledge, there shall be no valid basis for any such action, proceeding or investigation.

Appears in 1 contract

Samples: Securities Purchase Agreement (Streamline Inc)

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