Common use of Mutual Condition Clause in Contracts

Mutual Condition. The respective obligations of each party to consummate the transactions contemplated by this Agreement shall be subject to the fulfillment at or prior to Closing of the condition that no Governmental Authority of competent jurisdiction shall have (i) enacted, issued, promulgated, enforced or entered any statute, rule, regulation, judgment, decree, injunction or other order which is in effect; or (ii) commenced or threatened any action or proceeding, which in the case of either clause (i) or (ii) would prohibit consummation of the transactions contemplated by this Agreement.