Nonassignable Contracts and Leases. If any Permits, Assumed Contracts or Leases are not by their respective terms assignable, Sellers agree to use their reasonable commercial efforts promptly to obtain, or cause to be obtained, any written consents necessary to convey to Purchaser the benefit thereof. Purchaser shall cooperate with Sellers, in such manner as may be reasonably requested, in connection therewith, including without limitation, active participation in visits to and meetings, discussions and negotiations with all Persons with the authority to grant or withhold consent. To the extent that any such consents cannot be obtained, Sellers and Purchaser will use their reasonable commercial efforts to take such actions as may be possible without violation or breach of any such nonassignable Permits, Assumed Contracts or Leases to effectively (i) grant Purchaser the economic benefits of, and (ii) impose upon Purchaser the economic burdens of, such Permits, Assumed Contracts and Leases.
Appears in 1 contract
Samples: Asset Purchase Agreement (Teletouch Communications Inc)
Nonassignable Contracts and Leases. If any Permits, Assumed Contracts or ---------------------------------- Leases are not by their respective terms assignable, Sellers agree Seller agrees to use their its reasonable commercial best efforts promptly to obtain, or cause to be obtained, prior to the Closing Date, any written consents necessary to convey to Purchaser Buyer the benefit thereof, it being understood that such reasonable best efforts shall not include any requirement to offer or grant financial accommodations to any third party or to remain secondarily liable with respect to any such Permits, Contracts or Leases. Purchaser Buyer shall cooperate with SellersSeller, in such manner as may be reasonably requested, in connection therewith, including without limitation, active participation in visits to and meetings, discussions and negotiations with all Persons with the authority to grant or withhold consent. To the extent that any such consents cannot be obtained, Sellers Seller and Purchaser Buyer will use their reasonable commercial best efforts to take such actions as may be possible without violation or breach of any such nonassignable Permits, Assumed Contracts or Leases to effectively (i) grant Purchaser Buyer the economic benefits of, and (ii) impose upon Purchaser Buyer the economic burdens of, such Permits, Assumed Contracts and Leases.
Appears in 1 contract
Samples: Asset Purchase Agreement (Teletouch Communications Inc)
Nonassignable Contracts and Leases. If any Permits, Assumed Contracts or ---------------------------------- Leases are not by their respective terms assignable, Sellers agree Seller agrees to use their its reasonable commercial best efforts promptly to obtain, or cause to be obtained, prior to the Closing Date, any written consents necessary to convey to Purchaser Buyer the benefit thereof, it being understood that such reasonable best efforts shall not include any requirement to offer or grant financial accommodations to any third party or to remain secondarily liable with respect to any such Permits, Contracts or Leases. Purchaser Buyer shall cooperate with SellersSeller, in such manner as may be reasonably requested, in connection therewith, including without limitation, active participation in visits to and meetings, discussions and negotiations with all Persons with the authority to grant or withhold consent. To the extent that any such consents cannot be obtained, Sellers Seller and Purchaser Buyer will use their reasonable commercial best efforts to take such actions as may be possible without violation or breach of any such nonassignable Permits, Assumed Contracts or Leases to effectively (i) grant Purchaser Buyer the economic benefits of, and (ii) impose upon Purchaser Buyer the economic burdens of, such Permits, Assumed Contracts and Leases.
Appears in 1 contract
Samples: Asset Purchase Agreement (Teletouch Communications Inc)
Nonassignable Contracts and Leases. If any Permits, Assumed Assigned Contracts or Leases are not by their respective terms assignable, Sellers agree Seller agrees to use their its reasonable commercial best efforts promptly to obtain, or cause to be obtained, prior to the Closing Date, any written consents necessary to convey to Purchaser Buyer the benefit thereof. Purchaser Buyer shall cooperate with SellersSeller, in such manner as may be reasonably requested, in connection therewith, including without limitation, active participation in visits to and meetings, discussions and negotiations with all Persons with the authority to grant or withhold consent. To the extent that any such consents cannot be obtained, Sellers Seller and Purchaser Buyer will use their reasonable commercial best efforts to take such actions as may be possible without violation or breach of any such nonassignable Permits, Assumed Assigned Contracts or Leases to effectively (i) grant Purchaser Buyer the economic benefits of, and (ii) impose upon Purchaser Buyer the economic burdens of, such Permits, Assumed Assigned Contracts and Leases.
Appears in 1 contract
Samples: Asset Purchase Agreement (Teletouch Communications Inc)