Continuation of Contracts Clause Samples
Continuation of Contracts. Seller shall not modify or amend any Service Contract or enter into any new service contract for the Property, without the prior written consent of Buyer which consent shall not be unreasonably withheld or delayed provided the same is terminable without payment or penalty by the then owner of the Property upon not more than thirty (30) days’ notice.
Continuation of Contracts. The ELNY Restructured Contracts that are Covered Contracts, Article 75 Contracts or Uncovered Contracts will continue in force following such restructuring unless terminated by the terms of such Contract, and shall be ceded to and assumed by NEWCO pursuant to Section 4.1 and the Reinsurance and Assumption Agreement. It will be the individual responsibility of each non-participating Guaranty Association for providing its statutory coverage to each ELNY Restructured Contract allocated to it as an Excluded Contract.
Continuation of Contracts. The Company shall use its best efforts to take such actions necessary to ensure the continuation of the contracts referred to in Section 3.05 of the Company Disclosure Letter; provided, however, that this Section 5.01(d) shall not require the payment by the Company of any consent or other similar fee under any such contract.
Continuation of Contracts. Sellers and Buyers hereby agree to cooperate and use all reasonable endeavors to ensure that all of the Assigned Contracts shall be assigned to the Buyers as of the Effective Date. As the assignment of any Assigned Contract requires the consent of a third party, Sellers and Buyer shall cooperate and use all reasonable endeavors to cause to be executed and delivered to Buyers all documents of assignment necessary to effect the assignment of such Assigned Contracts. In the event that, for any reason, one or several third parties shall refuse to consent to the assignment of an Assigned Contract to any of the Buyers, the Sellers shall provide, or enter into such arrangements so as to provide the benefit of such Assigned Contract to such Buyer under the terms and conditions and for the duration of each such Assigned Contract.
Continuation of Contracts. Buyer's determination, to its reasonable satisfaction, that any material contract, agreement, lease, license, and other instrument shall as a result of the consummation of the transactions specified herein or otherwise, not be canceled or materially impaired or modified, but shall remain in full force and effect. In addition, consent of any party to any such material contract, agreement, lease, license or other agreement to the assumption thereof by Buyer shall have been obtained, if so required.