Common use of Essential Element Clause in Contracts

Essential Element. Both COMPANY and MS acknowledge that this Addendum is essential to any agreement it enters into with a Select Customer. Except as is specifically provided in Section 4.3 related to COMPANY's right to collect any outstanding payment following termination of this Addendum, COMPANY's rights to acquire and/or distribute Select Software Products, Select CD-ROMs and/or any additional program information and materials, and to collect payment from its Select Customers are conditional upon this Addendum being in full force and effect. COMPANY acknowledges further that, if and when it is the subject of a bankruptcy filing (under any Chapter of 11 United States Code Section 101 et seq. including any future amendments), then assumption of any contract with a Select Customer is conditional upon the assumption of this Addendum.

Essential Element. Both COMPANY and MS acknowledge that this Addendum is essential to any agreement it enters into with a Select Customer. Except as is specifically provided in Section 4.3 related to COMPANY's right to collect any outstanding payment following termination of this Addendum, COMPANY's rights to acquire and/or distribute Select Software Products, Select CD-ROMs and/or any additional program information and materials, and to collect payment from its Select Customers are conditional upon this Addendum being in full force and effect. COMPANY acknowledges further that, if and when it is the subject of a bankruptcy filing (under any Chapter of 11 United States Code Section 101 et seqET SEQ. including any future amendments), then assumption of any contract with a Select Customer is conditional upon the assumption of this Addendum.

Essential Element. Both COMPANY and MS acknowledge that this Addendum is essential to any agreement it enters into with a Select Customer. Except as is specifically provided in Section 4.3 related to COMPANY's right to collect any outstanding payment following termination of this Addendum, COMPANY's rights to acquire and/or distribute Select Software Products, Select CD-ROMs ROM's and/or any additional program information and materials, and to collect payment from its Select Customers are conditional upon this Addendum being in full force and effect. COMPANY acknowledges further that, if and when it is the subject of a bankruptcy filing (under any Chapter of 11 United States Code Section 101 et seqET SEQ. including any future amendments), then assumption of any contract with a Select Customer is conditional upon the assumption of this Addendum.