Common use of No Contracts or Commitments Clause in Contracts

No Contracts or Commitments. There are no agreements, covenants, undertakings or other commitments of IsoTis or any IsoTis Subsidiary, including partnerships or joint ventures of which any of them is a partner or member, under which the consummation of the Arrangement would (i) have the effect of imposing restrictions or obligations on IsoTis or an IsoTis Subsidiary materially greater than those imposed upon IsoTis or the IsoTis Subsidiary or any such partnership or joint venture at the date hereof, (ii) give a third party a right to terminate any material agreement to which IsoTis or an IsoTis Subsidiary or any such partnership or joint venture is a party or to purchase any of their respective assets, (iii) impose material restrictions on the ability of IsoTis or an IsoTis Subsidiary to carry on any business which it might choose to carry on within any geographical area, to acquire property or dispose of its property and assets in their entirety or to change its corporate status, or (iv) impose material restrictions on the ability of IsoTis or an IsoTis Subsidiary to pay dividends or make distributions to its shareholders or to borrow money and to mortgage and pledge its property as security therefor.

No Contracts or Commitments. There are no agreements, covenants, undertakings or other commitments of IsoTis GenSci or any IsoTis a GenSci Subsidiary, including partnerships or joint ventures of which any of them is a partner or member, under which the consummation of the Arrangement would (i) have the effect of imposing restrictions or obligations on IsoTis GenSci or an IsoTis a GenSci Subsidiary materially greater than those imposed upon IsoTis GenSci or the IsoTis GenSci Subsidiary or any such partnership or joint venture at the date hereof, (ii) give a third party a right to terminate any material agreement to which IsoTis GenSci or an IsoTis a GenSci Subsidiary or any such partnership or joint venture is a party or to purchase any of their respective assets, (iii) impose material restrictions on the ability of IsoTis GenSci or an IsoTis a GenSci Subsidiary to carry on any business which it might choose to carry on within any geographical area, to acquire property or dispose of its property and assets in their entirety or to change its corporate status, or (iv) impose material restrictions on the ability of IsoTis GenSci or an IsoTis a GenSci Subsidiary to pay any dividends or make other distributions to its shareholders or to borrow money and to mortgage and pledge its property as security therefor.