No Restrictions on Business. Company shall not, and shall not permit any of its subsidiaries to, enter into or otherwise become party to any contract, arrangement, commitment or understanding that expressly restricts or limits, in any material respect, the ability of Parent, Surviving Company or any of the subsidiaries or affiliates of Parent (including Company’s subsidiaries) from conducting, from and after the Effective Time, any of their businesses in any geographical area, other than any contract, arrangement, commitment or understanding imposed or required by a Governmental Entity (provided that this exception shall not limit or otherwise effect the restrictions set forth in Section 5.3(b)) or terminable in full (including the restrictions and limitations on conduct of business) on notice of not more than 45 days by Company or a subsidiary thereof without the incurrence of any material liability (including an incurrence of an obligation to make any payment of any amount in respect of such termination).
Appears in 4 contracts
Samples: Agreement and Plan of Merger (Tower Group, Inc.), Agreement and Plan of Merger (Tower Group, Inc.), Agreement and Plan of Merger (CastlePoint Holdings, Ltd.)
