No Business Activity Sample Clauses
The No Business Activity clause prohibits the use of the premises or property for any commercial or business-related activities. In practice, this means tenants or occupants are not allowed to operate businesses, offer services, or conduct any form of trade from the location covered by the agreement. This clause is commonly used in residential leases to ensure the property remains solely for personal or residential use, thereby preventing disruptions, increased traffic, or regulatory issues that could arise from business operations.
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No Business Activity. Vyteris Mergerco has been organized solely for the purpose of consummating the Merger and, since its inception, has had no business activity of any nature other than those related to its organization or as contemplated by this Agreement.
No Business Activity. Mergerco has been organized solely for the purpose of consummating the Merger and, since its inception, has had no business activity of any nature other than those related to its organization or as contemplated by this Agreement.
No Business Activity. AVN has engaged in no activity other than incident to and in connection with its organization and the activities contemplated by this Agreement.
No Business Activity. Notwithstanding any powers granted to the Trustee pursuant to this Trust Agreement or applicable law, the Trustee shall not have any power that could give this Trust the objective of carrying on a business and dividing the gains therefrom, within the meaning of section 301.7701-2 of the Procedure and Administrative Regulations promulgated pursuant to the Internal Revenue Code.
No Business Activity. Buyer was formed for the sole purpose of effecting the Transactions contemplated herein and has not engaged in any business since its formation.
No Business Activity. The Guarantor shall not become obligated for any indebtedness of the Lender, whether directly or indirectly (other than pursuant to this Guaranty), except for that certain guaranty provided to guarantee the obligations of Borrowers under the Debenture Documents.
No Business Activity. BermudaCo is not a party to any Contract, and neither BermudaCo nor any of its properties is subject or bound by any Contract. BermudaCo has never engaged in any business of any kind or nature whatsoever, except as otherwise contemplated herein.
No Business Activity. Newco is a corporation newly formed solely for the purpose of consummating the Transactions and has not engaged in any business activity except in connection with this Agreement and consummation of the Transactions.
No Business Activity. Financial Condition. Merger Sub has been organized solely for the purpose of consummating the Merger and, since its inception, has had no business activity of any nature other than those related to its organization or as contemplated by this Agreement. Merger Sub has no contracts or commitments to which it is a party, except for this Agreement and other documents and instruments contemplated hereby in connection with the Merger. Except for (i) the incurring of expenses of its organization, (ii) the issuance of the Merger Sub Shares to the Company, (iii) the incurring of expenses relating to this Agreement and the consummation of the transactions contemplated by this Agreement and (iv) the consummation of the Merger, Merger Sub has had no financial or other transactions of any nature whatsoever. As of the date hereof, Merger Sub has no subsidiaries.
No Business Activity. The Borrower has been formed solely for the purpose of engaging in the transactions of the types contemplated by this Agreement and the other Transaction Documents to which it is a party or by which it is bound, and has not engaged in any business activity other than the negotiation, execution and, to the extent applicable, performance of this Agreement and the Transaction Documents.