Asset Sale, Backstop, Dividend Sample Clauses

Asset Sale, Backstop, Dividend. (a) The Company shall use any and all funds received from the Asset Sale in the manner and order as follows: (i) To pay all expenses related to the undertaking of the Asset Sale; (ii) To fund the Company in an amount necessary to continue operations for three (3) months following the Second Closing (the “Backstop”); and (iii) to pay a cash dividend to the shareholders of the Company, not including the Purchaser. (b) Following the Asset Sale, the Company shall retain more than nominal non-cash assets and continue operations, developing its pancreatic cancer diagnostic products, both blood-based and stool-based.