Business of Seller Clause Samples

Business of Seller. From the date hereof to the Closing Date, and except as otherwise consented to or approved by Buyer in writing (which consent shall not be unreasonably withheld), Seller covenants and agrees as follows:

Business of Seller. Since December 31, 1995, Seller and its Subsidiary ------------------ conducted their businesses only in the ordinary course. For purposes of the foregoing, among other things, Seller or its Subsidiary has not, since December 31, 1995, controlled expenses through (i) elimination of employee benefits, (ii) deferral of routine maintenance of real property or leased premises, (iii) elimination of reserves where the liability related to such reserve has remained, (iv) reduction of capital improvements from previous levels, (v) failure to depreciate capital assets in accordance with past practice or to eliminate capital assets which are no longer used in the business of Seller, (vi) capitalized loan production expenses other than in accordance with Statement of Financial Accounting Standard No. 91, or (vii) extraordinary reduction or deferral of ordinary or necessary expenses.

Business of Seller. Seller will carry on its business and activities diligently and in substantially the same manner as Seller currently carries on its business. Seller will use its best efforts to preserve the business relationship established with each customer listed on the Customer Lists. Seller will not amend or modify any of the Contracts without the prior written authorization of Purchaser, and, to the extent within its control, shall not do any act or omit to do any act, or knowingly permit any act or omission to act, that would cause a breach of any of Contract.

Business of Seller. Seller was formed for the sole purpose of owning the Membership Interests and has not engaged in any other business activities since its formation.

Business of Seller. The Seller has not been and is not currently engaged in the business of selling tangible personal property similar to the Vessel and the Seller has not and does not hold itself out to be engaged in such business.

Business of Seller. Since December 31, 1998, Seller has conducted its business only in the ordinary course. For purposes of the foregoing, Seller has not, since December 31, 1998, controlled expenses through (i) elimination of employee benefits, (ii) deferral of routine maintenance of real property or leased premises, (iii) elimination of reserves where the liability related to such reserve has remained, (iv) reduction of capital improvements from previous levels, (v) failure to depreciate capital assets in accordance with past practice or to eliminate capital assets which are no longer used in the business of Seller, or (vi) extraordinary reduction or deferral of ordinary or necessary expenses.

Business of Seller. Seller has used the Real Property and the Transferred Employees in the past for the purpose of conducting a manufacturing business to make and sell various generic pharmaceutical products, including the Products (the "Business"). Buyer is not purchasing the Business or assuming any liabilities of the Business, unless otherwise specifically so agreed in this Agreement and, in particular, in Article 2.2.

Business of Seller. Immediately prior to the Closing, (a) Seller’s only business activity was to sublicense the rights under the Prior License (and maintain such sublicenses) to BBS and SEG, and (b) BBS and SEG are the only sublicensees to the rights under the Prior License.”

Business of Seller. A new Section 3.10 of the Agreement is hereby added to read in its entirety as follows: