Common use of Mutual Condition Clause in Contracts

Mutual Condition. The obligations of the Seller and the Purchaser to consummate the transaction contemplated by this Agreement are subject to the satisfaction of the mutual condition that, on each Purchase Date, no action, suit or proceeding shall be pending or threatened before any court or governmental agency in which damages or other relief in connection with this Agreement or the consummation of the transaction contemplated hereby is sought from the Seller or the Purchaser.