Common use of Activities of the Company Clause in Contracts

Activities of the Company. From and after the date hereof until the Closing Date, the Company shall, in all material respects, except as contemplated by this Agreement, carry on its business in the ordinary course as currently conducted. Without limiting the generality of the foregoing, and except as otherwise contemplated by this Agreement, during such period, the Company shall not, without the prior written consent of Patron: (a) (i) declare, set aside or pay any dividends on, or make any other distributions in respect of, any of its capital stock, or (ii) split, combine or reclassify any of its capital stock or issue or authorize the issuance of any other securities in respect of, in lieu of or in substitution for shares of its capital stock; (b) issue, deliver, sell, pledge or otherwise encumber any shares of its capital stock, any other voting securities or any securities convertible into, or any rights, warrants or options to acquire, any such shares, voting securities or convertible securities; (c) grant any registration rights (including piggyback registration rights) to any holder of Company securities or register any securities of the Company; (d) amend its Articles of Incorporation or Bylaws or other similar organizational documents; (e) acquire, or agree to acquire, in a single transaction or in a series of related transactions, any business or assets; (f) make or agree to make any new capital expenditure; (g) sell, lease, license, encumber or otherwise dispose of, or agree to sell, lease, license, encumber or otherwise dispose of, any of its assets; (h) increase the salary or wages payable or to become payable to its directors or officers, or enter into any employment or severance agreement with, or establish, adopt, enter into or amend any bonus, profit sharing, thrift, stock option, restricted stock, pension, retirement, deferred compensation, employment, termination or severance plan, agreement, policy or arrangement for the benefit of, any director, officer or employee, except, in each case, in the ordinary course of business, or as may be required by the terms of any such plan, agreement, policy or arrangement or to comply with applicable law; (i) except as may be required as a result of a change in law or in generally accepted accounting principles, make any material change in its method of accounting; (j) enter into, modify in any material respect, amend in any material respect or terminate any material contract or agreement to which the Company is a party, or waive, release or assign any material rights or claims, in each case, in any manner adverse to the Company; or (k) enter into any contract, agreement, commitment or arrangement to do any of the foregoing.

Activities of the Company. From and after the date hereof until the Closing Date, the Company shall, in all material respects, except as contemplated by this Agreement, carry on its business in the ordinary course as currently conducted. Without limiting the generality of the foregoing, and except as otherwise contemplated by this Agreement, during such period, the Company shall not, without the prior written consent of PatronPelican: (a) (i) declare, set aside or pay any dividends on, or make any other distributions in respect of, any of its capital stock, or (ii) split, combine or reclassify any of its capital stock or issue or authorize the issuance of any other securities in respect of, in lieu of or in substitution for shares of its capital stock; (b) issue, deliver, sell, pledge or otherwise encumber any shares of its capital stock, any other voting securities or any securities convertible into, or any rights, warrants or options to acquire, any such shares, voting securities or convertible securities; (c) grant any registration rights (including piggyback registration rights) to any holder of Company securities or register any securities of the Company; (d) amend its Articles of Incorporation or Bylaws or other similar organizational documents; (e) acquire, or agree to acquire, in a single transaction or in a series of related transactions, any business or assets; (f) make or agree to make any new capital expenditure; (g) sell, lease, license, encumber or otherwise dispose of, or agree to sell, lease, license, encumber or otherwise dispose of, any of its assets; (h) increase the salary or wages payable or to become payable to its directors or officers, or enter into any employment or severance agreement with, or establish, adopt, enter into or amend any bonus, profit sharing, thrift, stock option, restricted stock, pension, retirement, deferred compensation, employment, termination or severance plan, agreement, policy or arrangement for the benefit of, any director, officer or employee, except, in each case, in the ordinary course of business, or as may be required by the terms of any such plan, agreement, policy or arrangement or to comply with applicable law; (i) except as may be required as a result of a change in law or in generally accepted accounting principles, make any material change in its method of accounting; (j) enter into, modify in any material respect, amend in any material respect or terminate any material contract or agreement to which the Company is a party, or waive, release or assign any material rights or claims, in each case, in any manner adverse to the Company; or (k) enter into any contract, agreement, commitment or arrangement to do any of the foregoing.

Activities of the Company. From and after the date hereof until the Closing Date, the Company shall, in all material respects, except as contemplated by this Agreement, carry on its business in the ordinary course as currently conducted. Without limiting the generality of the foregoing, and except as otherwise contemplated by this Agreement, during such period, the Company shall not, without the prior written consent of Patron: (a) (i) declare, set aside or pay any dividends on, or make any other distributions in respect of, any of its capital stock, or (ii) split, combine or reclassify any of its capital stock or issue or authorize the issuance of any other securities in respect of, in lieu of or in substitution for shares of its capital stock; (b) issue, deliver, sell, pledge or otherwise encumber any shares of its capital stock, any other voting securities or any securities convertible into, or any rights, warrants or options to acquire, any such shares, voting securities or convertible securities; (c) grant any registration rights (including piggyback registration rights) to any holder of Company securities or register any securities of the Company; (d) amend its Articles of Incorporation or Bylaws or other similar organizational documents; (ed) acquire, or agree to acquire, in a single transaction or in a series of related transactions, any business or assets; (fe) make or agree to make any new capital expenditure; (gf) sell, lease, license, encumber or otherwise dispose of, or agree to sell, lease, license, encumber or otherwise dispose of, any of its assets; (hg) increase the salary or wages payable or to become payable to its directors or officers, or enter into any employment or severance agreement with, or establish, adopt, enter into or amend any bonus, profit sharing, thrift, stock option, restricted stock, pension, retirement, deferred compensation, employment, termination or severance plan, agreement, policy or arrangement for the benefit of, any director, officer or employee, except, in each case, in the ordinary course of business, or as may be required by the terms of any such plan, agreement, policy or arrangement or to comply with applicable law; (ih) except as may be required as a result of a change in law or in generally accepted accounting principles, make any material change in its method of accounting; (ji) enter into, modify in any material respect, amend in any material respect or terminate any material contract or agreement to which the Company is a party, or waive, release or assign any material rights or claims, in each case, in any manner adverse to the Company; or (kj) enter into any contract, agreement, commitment or arrangement to do any of the foregoing.