Common use of RESTRICTIONS ON NEW CONTRACTS Clause in Contracts

RESTRICTIONS ON NEW CONTRACTS. Except with the prior written consent of the Purchaser, which consent shall not be unreasonably withheld, delayed or conditioned, the Seller shall not enter into any contract, incur any Liability, assume, guarantee or otherwise become liable or responsible for any Liability of any other Person, make any loans, advances or capital contributions to any other Person (except for extensions of credit to its customers in the Ordinary Course of Business), or waive any right or enter into any other transaction, in each case other than in the Ordinary Course of Business and consistent with the Seller's normal business practices. Without limiting the foregoing, for the purposes of this Agreement, any contract involving the sum of $25,000 or more shall be deemed to be outside the Ordinary Course of Business.

Appears in 2 contracts

Samples: Agreement of Purchase and Sale (Genmar Holdings Inc), Agreement of Purchase and Sale (Genmar Holdings Inc)

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RESTRICTIONS ON NEW CONTRACTS. Except with the prior written consent of the Purchaser, which consent shall not be unreasonably withheld, delayed or conditioned, the Seller Shareholders shall not permit the Company to enter into any contractContract, incur any Liability, assume, guarantee or otherwise become liable or responsible for any Liability of any other Person, make any loans, advances or capital contributions to any other Person (except for extensions of credit to its customers in the Ordinary Course of Business), or waive any right or enter into any other transaction, in each case other than in the Ordinary Course of Business and consistent with the SellerCompany's normal business practices. Without limiting the foregoing, for the purposes of this Agreement, any contract Contract involving the sum of $25,000 20,000 or more shall be deemed to be outside the Ordinary Course of Business.

Appears in 1 contract

Samples: Stock Purchase Agreement (Rural Cellular Corp)

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RESTRICTIONS ON NEW CONTRACTS. Except with the prior written consent of the Purchaser, or as specifically contemplated by this Agreement, which consent shall not be unreasonably withheld, delayed or conditioned, the Seller Shareholder shall not permit the Company to, and the Company shall not, enter into any contractContract, incur any Liability, assume, guarantee or otherwise become liable or responsible for any Liability of any other Person, make any loans, advances or capital contributions to any other Person (except for extensions of credit to its customers in the Ordinary Course of Business), or waive any right or enter into any other transaction, in each case other than in the Ordinary Course of Business and consistent with the SellerCompany's normal business practices. Without limiting the foregoing, for the purposes of this Agreement, any contract Contract involving the sum of $25,000 20,000 or more shall be deemed to be outside the Ordinary Course of Business.

Appears in 1 contract

Samples: Asset Purchase Agreement (Patterson Dental Co)

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