Common use of Effect of Transitional Action Clause in Contracts

Effect of Transitional Action. BUYER and SELLER hereby agree to cooperate in good faith to address the timing and settlement of any post-closing transition items not specifically addressed in this Agreement. To the extent that resolution of any such additional post-closing transition items causes SELLER to incur expenses or costs, BUYER hereby agree to reimburse SELLER for its reasonable expenses or costs incurred in connection with the same. Except as and to the extent expressly set forth in this Article 7, nothing contained in this Article 7 shall be construed to be an abridgment or nullification of the rights, customs and established practices under applicable banking laws and regulations as they affect any of the matters addressed in this Article 7.