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

Operation of the Company’s Business. (a) During the Pre-Closing Period: (i) the Company shall ensure that each of the Acquired Corporations conducts its business and operations (A) in the ordinary course and in accordance with past practices or the operating plan previously delivered by the Company to Parent and (B) in compliance with all applicable Legal Requirements and the requirements of all Acquired Company Contracts that constitute Material Contracts; (ii) the Company shall use all reasonable efforts to ensure that each of the Acquired 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, landlords, creditors, licensors, licensees, employees and other Persons having business relationships with the respective Acquired Corporations; (iii) the Company shall keep in full force all insurance policies referred to in Section 2.18 or replace any such policies that terminate with comparable or superior policies; (iv) the Company shall provide all notices, assurances and support required by any Acquired Corporation Contract relating to any Proprietary Asset in order to ensure that no condition under such Acquired Corporation Contract occurs which could result in, or could increase the likelihood of, any transfer or public disclosure by any Acquired Corporation of any Proprietary Asset; and (v) the Company shall (to the extent requested by Parent) cause its officers to report regularly to Parent concerning the status of the Company's business.

Appears in 4 contracts

Samples: 6 Agreement and Plan of Merger and Reorganization (Arris Pharmaceutical Corp/De/), 6 Agreement and Plan of Merger and Reorganization (Arris Pharmaceutical Corp/De/), 6 Agreement and Plan of Merger and Reorganization (Sequana Therapeutics Inc)

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Operation of the Company’s Business. (a) During the Pre-Closing Period: (i) except (x) as required or otherwise contemplated under this Agreement, (y) with the written consent of Parent (not to be unreasonably withheld, conditioned or delayed) or (z) as set forth on Part 5.2 of the Company shall ensure that Disclosure Schedule, the Company will, and will cause each of the other Acquired Corporations conducts Companies to, conduct its business and operations (A) in the ordinary course and in accordance with past practices or substantially the operating plan same manner as previously delivered by the Company to Parent conducted and (B) in use commercially reasonable efforts to maintain compliance with all applicable Legal Requirements and the requirements of all Acquired Company Contracts that constitute Material Contracts; and (ii) the Company shall will promptly notify Parent of (A) any notice or other communication from any Person alleging that the Consent of such Person is or may be required in connection with any of the transactions contemplated by this Agreement, and (B) any Legal Proceeding commenced, or, to its knowledge, threatened, relating to or involving or otherwise affecting any of the Acquired Companies that relates to any of the Transactions. The Company will, and will cause each other Acquired Company to, use all reasonable efforts to ensure that each preserve intact the components of the Acquired Corporations preserves intact its current business organization, keeps including keeping available the services of its current officers officers, directors, managers, employees, advisors and employees consultants, and maintains its use all reasonable efforts to maintain relations and goodwill with all their respective suppliers, customersdistributors, landlordsmanufacturers, creditors, licensors, licensees, employees customers and other Persons having business relationships with the respective Acquired Corporations; (iii) the Company shall keep in full force all insurance policies referred to in Section 2.18 or replace any such policies that terminate with comparable or superior policies; (iv) the Company shall provide all notices, assurances associates and support required by any Acquired Corporation Contract relating to any Proprietary Asset in order to ensure that no condition under such Acquired Corporation Contract occurs which could result in, or could increase the likelihood of, any transfer or public disclosure by any Acquired Corporation of any Proprietary Asset; and (v) the Company shall (to the extent requested by Parent) cause its officers to report regularly to Parent concerning the status of the Company's businessGovernmental Bodies.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Anadigics Inc), Agreement and Plan of Merger (Anadigics Inc)

Operation of the Company’s Business. (a) During the Pre-Closing Period: (i) the Company shall ensure that each of the Acquired Corporations conducts its business and operations (A) in the ordinary course and in accordance with past practices or the operating plan previously delivered by the Company to Parent and (B) in compliance with all applicable Legal Requirements and the requirements of all Acquired Company Contracts that constitute Material Contracts; (ii) the Company shall use all reasonable efforts to ensure that each of the Acquired 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, landlords, creditors, licensors, licensees, employees and other Persons having business relationships with any of the respective Acquired Corporations; (iii) the Company shall keep in full force all insurance policies referred to in Section 2.18 or replace any such policies that terminate with comparable or superior policies2.19; (iv) the Company shall provide all noticespromptly notify Parent of (A) any notice or other communication from any Person alleging that the Consent of such Person is or may be required in connection with any of the transactions contemplated by this Agreement or (B) any Legal Proceeding commenced, assurances and support required by any or, to the best of the Acquired Corporation Contract Corporations' knowledge, threatened against, relating to or involving or otherwise affecting any Proprietary Asset in order of the Acquired Corporations that relates to ensure that no condition under such Acquired Corporation Contract occurs which could result in, or could increase the likelihood of, any transfer or public disclosure consummation of the transactions contemplated by any Acquired Corporation of any Proprietary Assetthis Agreement; and (v) the Company shall cause its Chief Executive Officer and Chief Financial Officer (to and such of its other officers and the extent officers of its Subsidiaries as may be reasonably requested by Parent) cause its officers to report regularly to Parent concerning the status of the Acquired Corporations' business, such reports to take place telephonically or at the Company's businessmain office in Beverly, Massachusetts and to occur no more frequently than once every two weeks.

Appears in 1 contract

Samples: Agreement and Plan of Merger and Reorganization (Clare Inc)

Operation of the Company’s Business. (a) During Except as set forth in Part 4.2(a) of the Company Disclosure Schedule and as otherwise be required by the terms hereof, during the Pre-Closing Period: (i) the Company shall ensure that each of the Acquired Corporations conducts conduct its business and operations (A) in the ordinary course and in accordance with past practices or the operating plan previously delivered by the Company to Parent and (B) in compliance with all applicable Legal Requirements and the requirements of all Acquired Company Contracts that constitute Material Contracts; (ii) the Company shall use all commercially reasonable efforts to ensure that each of the Acquired Corporations Company 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, landlords, creditors, licensors, licensees, employees and other Persons having business relationships with the respective Acquired CorporationsCompany; (iii) the Company shall maintain and keep its tangible assets in good and safe operating order, condition and repair, ordinary wear and tear excepted, and shall keep in full force all insurance policies referred to in Section 2.18 or replace any such policies that terminate with comparable or superior policiesand fiduciary bonds; (iv) the Company shall provide all notices, assurances maintain and support required by any Acquired Corporation Contract relating preserve its unencumbered right to any Proprietary Asset in order to ensure that no condition under such Acquired Corporation Contract occurs which could result in, or could increase the likelihood of, any transfer or public disclosure by any Acquired Corporation of any use each Proprietary Asset; and (v) the Company shall promptly notify Acquiror of (A) any notice or other communication from any Person alleging that the Consent of such Person is or may be required in connection with the transactions contemplated by this Agreement, and (B) any Legal Proceedings commenced or, to its Knowledge threatened against, relating to or involving or otherwise affecting the Company which relate to the extent requested by Parent) cause its officers to report regularly to Parent concerning the status consummation of the Company's businesstransactions contemplated by this Agreement.

Appears in 1 contract

Samples: Agreement and Plan of Merger and Reorganization (Rf Micro Devices Inc)

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Operation of the Company’s Business. (a) During the Pre-Closing Period: (i) the Company shall ensure that each of the Acquired Corporations conducts its business and operations (A) in the ordinary course and in accordance with past practices or the operating plan previously delivered by the Company to Parent and (B) in compliance in all material respects with all applicable Legal Requirements and the requirements of all Acquired Company Corporation Contracts that constitute Material Contracts; (ii) the Company shall use all reasonable efforts to ensure that each of the Acquired 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, landlords, creditors, licensors, licensees, employees and other Persons having business relationships with the respective Acquired Corporations; (iii) the Company shall keep in full force all insurance policies referred to in Section 2.18 or replace which any such policies that terminate with comparable or superior policiesof the Acquired Corporations is a party as of the date of this Agreement; (iv) the Company shall use reasonable efforts to provide all notices, assurances and support required by any Acquired Corporation Contract relating to any Proprietary Asset material Intellectual Property in order to ensure that no condition under such Acquired Corporation Contract occurs which could result in, or could increase the likelihood of, (A) any transfer or public disclosure by any Acquired Corporation of any Proprietary Assetsource code materials or other material Intellectual Property, or (B) a release from any escrow of any source code material or material Intellectual Property which has been deposited or is required to be deposited in escrow under the terms of such Acquired Corporation Contract; and (v) the Company shall (to the extent requested by Parent) cause its officers to report regularly to Parent concerning the status of the Company's business.

Appears in 1 contract

Samples: Agreement and Plan of Merger and Reorganization (Sungard Data Systems Inc)

Operation of the Company’s Business. (a) During the Pre-Closing Period, the Company shall: (i) the Company shall ensure that each of the Acquired Corporations conducts its business and operations (A) in the ordinary course and in accordance with past practices or the operating plan previously delivered by the Company to Parent Ordinary Course of Business, and (B) in compliance with all applicable Legal Requirements and the requirements of all Acquired Company Contracts that constitute Material Contracts; (ii) ensure that each of the Company shall Acquired Corporations manages its cash balance in the Ordinary Course of Business consistent with past practice and pays all payables as they become due in accordance with the terms prescribed by the applicable third party creditors, (iii) use all reasonable best efforts to ensure that each of the Acquired Corporations preserves intact its current business organization, keeps available the services of its current officers and employees Employees and maintains its relations and goodwill with all suppliers, customers, landlords, creditors, licensors, licensees, employees Employees and other Persons having business relationships with any of the respective Acquired Corporations; (iii) the Company shall keep in full force all insurance policies referred to in Section 2.18 or replace any such policies that terminate with comparable or superior policies; (iv) the Company shall provide all notices, assurances and support required by any Acquired Corporation Material Contract relating to any Proprietary Asset in order to ensure that no condition under such Acquired Corporation Contract occurs which could result in, or could increase the likelihood of, of any transfer or public disclosure by any of the Acquired Corporation Corporations of any Proprietary Asset; and (v) keep in full force and effect (with the Company shall same scope and limits of coverage) all insurance policies in effect as of the date of this Agreement covering all material assets of the Acquired Corporations; and (vi) to the extent requested by Parent) , cause its officers to report regularly to Parent concerning the status of the Companyeach Acquired Corporation's business.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Titan Corp)

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