Common use of Operation of the Company’s Business Clause in Contracts

Operation of the Company’s Business. (a) During the Pre-Closing Period the Company shall: (i) ensure that each of the Constituent Corporations conducts its business and operations (A) in the ordinary course and substantially in accordance with past practices, and (B) in material compliance with all applicable Legal Requirements and the requirements of all Company Material Contracts; (ii) to the extent consistent with its business, use its reasonable best efforts to ensure that each of the Constituent Corporations preserves intact its current business organization, keeps available the services of its current officers and employees and maintains its relations and goodwill with all suppliers, customers, distributors, landlords, creditors, licensors, licensees and other Persons having business relationships with the respective Constituent Corporations; (iii) provide all notices, assurances and support required by any Contract relating to any Proprietary Asset in order to ensure that no condition under such Contract occurs which could result in, or could increase the likelihood of any transfer or disclosure by any Constituent Corporation of any source code materials or other Proprietary Asset; and (iv) keep in full force and effect (with the same scope and limits of coverage) all insurance policies in effect as of the date of this Agreement covering all material assets of the Constituent Corporations.

Appears in 3 contracts

Samples: Agreement and Plan of Merger (Cuseeme Networks Inc), Agreement and Plan (First Virtual Communications Inc), Agreement and Plan of Merger (Cuseeme Networks Inc)

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Operation of the Company’s Business. (a) During a)During the Preperiod from the date of this Agreement through the Effective Time (the "PRE-Closing Period CLOSING PERIOD"), the Company shall: (i) ensure that each of the Constituent Corporations Acquired Companies conducts its business and operations (A) in the ordinary course and substantially in accordance with past practices, and (B) in material compliance with all applicable Legal Requirements and the requirements of all Company Material Contracts; (ii) to the extent consistent with its business, use its reasonable best efforts to ensure that each of the Constituent Corporations Acquired Companies preserves intact its current business organization, keeps available the services of its current officers and employees and maintains its relations and goodwill with all suppliers, customers, distributors, landlords, creditors, licensors, licensees licensees, employees and other Persons having business relationships with the respective Constituent CorporationsAcquired Companies; (iii) provide all notices, assurances and support required by any Contract relating to any Proprietary Asset in order Company Intellectual Property to ensure that no condition under such Contract occurs which could result in, or could increase the likelihood of any transfer or disclosure by any Constituent Corporation Acquired Company of any source code materials or other Proprietary AssetCompany Intellectual Property; and (iv) keep in full force and effect (with the same scope and limits of coverage) all insurance policies in effect as of the date of this Agreement covering all material assets of the Constituent CorporationsAcquired Companies and (v) to the extent requested by Parent, cause its officers to report regularly to Parent concerning the status of the Acquired Companies' respective businesses.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Lancer Corp /Tx/), Agreement and Plan of Merger (Lancer Corp /Tx/)

Operation of the Company’s Business. (a) During the Pre-Closing Period the Company shall: (i) ensure that each of the Constituent Acquired Corporations conducts its business and operations (A) in the ordinary course and substantially in accordance with past practices, and (B) in material compliance with all applicable Legal Requirements and the requirements of all Company Material Contracts; (ii) to the extent consistent with its business, use its reasonable best efforts to ensure that each of the Constituent Acquired Corporations preserves intact its current business organization, keeps available the services of its current officers and employees and maintains its relations and goodwill at least as favorable as at the date of this Agreement with all suppliers, customers, distributors, landlords, creditors, licensors, licensees and other Persons having business relationships with the respective Constituent Acquired Corporations; (iii) provide all notices, assurances and support required by any Company Material Contract relating to any Proprietary Asset in order to ensure that no prevent the occurrence of a condition under such Contract occurs which could would result in, or could increase the likelihood of in any transfer of a material Proprietary Asset or disclosure of material source code by any Constituent Corporation of any source code materials or other Proprietary AssetAcquired Corporation; and (iv) keep in full force and effect (with the same scope and limits of coverage) all insurance policies in effect as of the date of this Agreement covering all material assets of the Constituent Acquired Corporations.

Appears in 2 contracts

Samples: Agreement and Plan of Reorganization (Safenet Inc), Agreement and Plan of Reorganization (Cylink Corp /Ca/)

Operation of the Company’s Business. (a) During the Pre-Closing Period Period, the Company shall: shall (and the Stockholders shall cause the Company to): (i) ensure that each of the Constituent Corporations Company conducts its business and operations (A) in the ordinary course and substantially in accordance of business consistent with past practicespractice, and (B) in material compliance with all applicable Legal Requirements Laws and the requirements of all Company Material ContractsContracts and Governmental Authorizations held by the Company; (ii) to the extent consistent with its business, use its reasonable best efforts to ensure that each of the Constituent Corporations Company preserves intact its current business organization, keeps keep available the services of its current officers officers, directors and employees consultants and maintains maintain its relations and goodwill with all suppliers, customers, distributors, landlords, creditors, licensors, licensees licensees, consultants and other Persons having business relationships with the respective Constituent CorporationsCompany; (iii) maintain the books, records and consolidated financial statements of the Company in accordance with GAAP and consistent with past practice; (iv) provide all notices, assurances and support required by any Company Contract relating to any Proprietary Asset in order to ensure that no condition under such Company Contract occurs which could result in, or could increase the likelihood of any transfer or disclosure by any Constituent Corporation the Company of any source code materials or other Proprietary AssetIntellectual Property Rights; and (ivv) keep in full force and effect (with the same scope and limits of coverage) all insurance policies in effect as of the date of this Agreement covering all material assets of the Constituent CorporationsCompany.

Appears in 1 contract

Samples: Stock Purchase Agreement (Sorrento Therapeutics, Inc.)

Operation of the Company’s Business. (a) During the period from the date of this Agreement through the Effective Time (the “Pre-Closing Period Period”), the Company shall: (i) ensure that each of the Constituent Corporations Acquired Companies conducts its business and operations (A) in the ordinary course and substantially in accordance with past practices, and (B) in material compliance with all applicable Legal Requirements and the requirements of all Company Material Contracts; (ii) to the extent consistent with its business, use its reasonable best efforts to ensure that each of the Constituent Corporations Acquired Companies preserves intact its current business organization, keeps available the services of its current officers and employees and maintains its relations and goodwill with all suppliers, customers, distributors, landlords, creditors, licensors, licensees licensees, employees and other Persons having business relationships with the respective Constituent CorporationsAcquired Companies; (iii) provide all notices, assurances and support required by any Contract relating to any Proprietary Asset in order Company Intellectual Property to ensure that no condition under such Contract occurs which could result in, or could increase the likelihood of any transfer or disclosure by any Constituent Corporation Acquired Company of any source code materials or other Proprietary AssetCompany Intellectual Property; and (iv) keep in full force and effect (with the same scope and limits of coverage) all insurance policies in effect as of the date of this Agreement covering all material assets of the Constituent CorporationsAcquired Companies and (v) to the extent requested by Parent, cause its officers to report regularly to Parent concerning the status of the Acquired Companies’ respective businesses.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Hoshizaki America, Inc.)

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Operation of the Company’s Business. (a) During the Pre-Closing Period Period, the Company shall: (i) ensure that each of the Constituent Corporations Company conducts its business and operations (A) in the ordinary course and substantially in accordance of business consistent with past practicespractice, and (B) in material compliance with all applicable Legal Requirements Laws and the requirements of all Company Material ContractsContracts and Governmental Authorizations held by the Company; (ii) to the extent consistent with its business, use its reasonable best efforts to ensure that each of the Constituent Corporations Company preserves intact its current business organization, keeps keep available the services of its current officers and officers, directors, employees and maintains consultants and maintain its relations and goodwill with all suppliers, customers, distributors, landlords, creditors, licensors, licensees licensees, employees, consultants and other Persons having business relationships with the respective Constituent CorporationsCompany; (iii) maintain the books, records and financial statements of the Company in accordance with GAAP and consistent with past practice; (iv) provide all notices, assurances and support required by any Company Contract relating to any Proprietary Asset in order to ensure that no condition under such Company Contract occurs which could result in, or could increase the likelihood of any transfer or disclosure by any Constituent Corporation the Company of any source code materials or other Proprietary AssetIntellectual Property Rights; (v) maintain the CPRIT Grant; and (ivvi) keep in full force and effect (with the same scope and limits of coverage) all insurance policies in effect as of the date of this Agreement covering all material assets of the Constituent CorporationsCompany.

Appears in 1 contract

Samples: Stock Purchase Agreement (Heat Biologics, Inc.)

Operation of the Company’s Business. (a) During the Pre-Closing Period the Company shall: (i) ensure that each of the Constituent Acquired Corporations conducts its business and operations (A) in the ordinary course and substantially in accordance with past practices, and (B) in material compliance with all applicable Legal Requirements and the requirements of all Company Material Contracts; (ii) to the extent consistent with its business, use its reasonable best efforts to ensure that each of the Constituent Acquired Corporations preserves intact its current business organization, keeps available the services of its current officers and employees and maintains its relations and goodwill at least as favorable as at the date of this Agreement with all suppliers, customers, distributors, landlords, creditors, licensors, licensees and other Persons having business relationships with the respective Constituent Acquired Corporations; (iii) provide all notices, assurances and support required by any Contract relating to any Proprietary Asset in order to ensure that no condition under such Contract occurs which could result in, or could increase the likelihood of any transfer or disclosure by any Constituent Acquired Corporation of any source code materials or other Proprietary Asset; and (iv) keep in full force and effect (with the same scope and limits of coverage) all insurance policies in effect as of the date of this Agreement covering all material assets of the Constituent Acquired Corporations.

Appears in 1 contract

Samples: Ii Agreement and Plan of Reorganization (Titan Corp)

Operation of the Company’s Business. (a) During the Pre-Closing Period Period, the Company shall: (i) ensure that each of the Constituent Corporations conducts conduct its business and operations (A) in the ordinary course and substantially in accordance with past practices, and (B) in material compliance with all applicable Legal Requirements and the requirements of all Company Material Contracts; (ii) to the extent consistent with its business, use its reasonable best efforts to ensure that each of the Constituent Corporations preserves maintain and preserve intact its current business organization, keeps keep available the services of its current officers and employees and maintains maintain its business relations and goodwill with all suppliers, customers, distributors, landlords, creditors, licensors, licensees licensees, employees and other Persons having business relationships with the respective Constituent CorporationsCompany; (iii) provide all notices, assurances and support required by any Contract relating to any Proprietary Asset Intellectual Property in order to ensure that no condition under such Contract occurs which could result in, or could increase the likelihood of of, any transfer or disclosure by any Constituent Corporation the Company of any source code materials or other Proprietary AssetIntellectual Property; and (iv) keep in full force and effect (with the same scope and limits of coverage) all insurance policies in effect as of the date of this Agreement Date covering all material assets of the Constituent CorporationsCompany; and (v) take no action that would adversely affect or materially delay the ability of the parties to obtain any necessary approvals of any Governmental Body required for the Transactions or to perform its covenants and agreements under this Agreement or to complete the Transactions.

Appears in 1 contract

Samples: Share Purchase Agreement (Multi Fineline Electronix Inc)

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