Ongoing Business Clause Samples
The Ongoing Business clause defines the obligations and rights related to the continued operation of a business during a transaction or contractual relationship. Typically, it requires the seller or operator to maintain the business in the ordinary course, ensuring that no significant changes or disruptions occur before the transaction closes. For example, it may restrict major asset sales, unusual expenditures, or changes in key personnel without the other party's consent. This clause serves to protect the buyer or counterparty by preserving the value and stability of the business, preventing actions that could negatively impact its future prospects or the terms of the deal.
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Ongoing Business. Seller shall (a) keep the operations and business of the Business intact until the Closing Date, (b) use reasonable efforts to keep available to Buyer the services of the present employees of the Business, and (c) preserve the business relations of the subcontractors and customers of Seller and the business relations of others with whom Seller and ▇▇▇▇▇▇▇▇ have business relations in respect of the Business.
Ongoing Business. IEMI has a fully operational revenue producing company in the environmental waste recycling business.
Ongoing Business. No aspect of Parent’s past or present business, operations or assets is of such a character as would restrict or otherwise hinder or impair Parent from carrying on the business of Parent as it is presently being conducted by Parent.
Ongoing Business. Prior to Closing, neither Purchaser nor the Company will engage in any activities outside the ordinary course of business, except as contemplated herein.
Ongoing Business. Seller will conduct the Beienheim operation on an ongoing business basis from the date of signature of this Agreement until the Closing Date.
Ongoing Business. The Company will utilize its best efforts to keep its operations and business intact until the Closing; to keep available to IMNET the services of its present employees; and to preserve for IMNET the business relations of the suppliers and customers of the Company and the business relations of the others with which the Company has business relations, and otherwise preserve the Assets. Prior to Closing, the Company will engage in no activities outside the ordinary course of business, except as contemplated herein.
Ongoing Business. It is the intention of Purchaser in acquiring the Business and Business Assets to operate them as an ongoing business for the foreseeable future. Neither Sovereign nor Purchaser have any plan or intention to liquidate or substantially terminate or relocate any portion of the Business as presently conducted.
Ongoing Business. As a consequence of the Asset Transfer and the sale and transfer of the NEWCO Shares and the RV Ltd. Assets pursuant to this Agreement, and when taking into account the transition services which RVSI Inc. will provide pursuant to the IT Agreement and the assets which NEWCO or the Buyers must provide itself (e.g. office equipment and working capital), NEWCO and the Buyers will have all of the assets critical to the conduct of the Business immediately prior to the Effective Time other than (a) the Excluded Assets, and (b) the corporate functions of the Sellers (i.e., the accounting, human resource, legal, finance, technology and general administrative departments of the Sellers) and all of the personnel and assets (real or personal) related to performing these corporate functions, including any related hardware (e.g., routers and phone systems) or software.
Ongoing Business. A. Phase V Expansion Project Update
B. College & Career Center Update
C. Budget Report
1. Finance Committee Meeting Minutes
a. December 14, 2018 Finance Committee Meeting Minutes* (acceptance)
Ongoing Business. Prior to Closing, the Company will not engage in any activities outside the ordinary course of business, except as contemplated in this Agreement.