Common use of Interim Financing Clause in Contracts

Interim Financing. The Company agrees that it will cooperate with Lancit in connection with Lancit obtaining interim financing or otherwise maintaining adequate available cash for the period between the date hereof and June 30, 1998 (or the Effective Time if sooner). Lancit agrees that it will take such reasonable actions as the Company may request following consultation with Lancit in order to obtain such financing or otherwise maintain adequate available cash and that any such financing or other arrangements will be on terms reasonably satisfactory to the Company. The Company agrees that such actions or terms shall not include the non-payment or deferral of, or render Lancit unable to timely pay, its obligations to its officers, employees, advisors, consultants and attorneys, in view of the importance of their continuing services to Lancit, provided that such payments for any given month do not in the aggregate exceed the aggregate amount thereof for such month set forth in the cash flow projections referred to in Section 2.16.

Appears in 3 contracts

Sources: Merger Agreement (RCN Corp /De/), Merger Agreement (Lancit Media Entertainment LTD), Merger Agreement (Lancit Laurence A)