Common use of Significant Customers Clause in Contracts

Significant Customers. Partner Company has delivered to Founder an accurate list (which is set forth in Section 4.15 of Partner Company Disclosure Schedule) of all significant customers, or persons or related groups of persons that are sources of a significant number of customers, it being understood and agreed that a “significant customer,” for purposes of this Section 4.15, means a customer (or persons or related groups of persons) representing 5% or more of the Subject Partner Companies’ combined revenues during the twelve calendar months next preceding the Balance Sheet Date. Except to the extent set forth in Section 4.15 of Partner Company Disclosure Schedule, none of the Subject Partner Companies’ significant customers (or persons or related groups of persons that are sources of a significant number of customers) has canceled or substantially reduced or, to the knowledge of Partner Company or Partner Company Stockholder, is currently attempting or threatening to cancel a contract or substantially reduce utilization of the services provided by a Subject Partner Company.

Appears in 2 contracts

Samples: Combination Agreement (Taylor & Martin Group Inc), Combination Agreement (Taylor & Martin Group Inc)

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Significant Customers. Partner Company has delivered to Founder an accurate list (which is set forth in Section 4.15 of Partner Company Disclosure Schedule) of all significant customers, or persons or related groups of persons that are sources of a significant number of customers, it being understood and agreed that a “significant customer,” for purposes of this Section 4.15, means a customer (or persons or related groups of persons) representing 5% or more of the Subject Partner Companies’ combined consolidated revenues during the twelve calendar months next preceding the Balance Sheet Date. Except to the extent set forth in Section 4.15 of Partner Company Disclosure Schedule, none of the Subject Partner Companies’ significant customers (or persons or related groups of persons that are sources of a significant number of customers) has canceled or substantially reduced or, to the knowledge of Partner Company or a Partner Company Stockholder, is currently attempting or threatening to cancel a contract or substantially reduce utilization of the services provided by a Subject Partner Company.

Appears in 1 contract

Samples: Combination Agreement (Taylor & Martin Group Inc)

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Significant Customers. The Partner Company has Companies have delivered to Founder an accurate list (which is set forth in Section 4.15 of Partner Company Disclosure Schedule) of all significant customers, or persons or related groups of persons that are sources of a significant number of customers, it being understood and agreed that a “significant customer,” for purposes of this Section 4.15, means a customer (or persons or related groups of persons) representing 5% or more of the Subject Partner Companies’ combined revenues during the twelve calendar months next preceding the Balance Sheet Date. Except to the extent set forth in Section 4.15 of Partner Company Disclosure Schedule, none of the Subject Partner Companies’ significant customers (or persons or related groups of persons that are sources of a significant number of customers) has canceled or substantially reduced or, to the knowledge of each Partner Company or Partner Company Stockholder, is currently attempting or threatening to cancel a contract or substantially reduce utilization of the services provided by a Subject Partner Company.

Appears in 1 contract

Samples: Combination Agreement (Taylor & Martin Group Inc)

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