Common use of Mutual Understanding Regarding Amendments Clause in Contracts

Mutual Understanding Regarding Amendments. The parties acknowledge and agree that, during the Pre-Effective Date Period: (a) the parties will use their respective reasonable efforts to maximize present and future financial and tax planning opportunities for the Vista Securityholders, and for each of the Pescios and for Vista, as and to the extent that the same shall not prejudice any party or its security holders. The parties will ensure that such planning activities do not impede the progress of the Arrangement in any material way; and (b) if the Pescios or Vista, as the case may be, proposes any amendment or amendments to this Agreement or to the Plan of Arrangement, the other will act reasonably in considering such amendment and if the other and its securityholders (as applicable) are not prejudiced by reason of any such amendment the other will co-operate in a reasonable fashion with the Pescios or Vista, as the case may be, so that such amendment can be effected subject to applicable Law and the rights of the securityholders.