FIAB Business definition
Examples of FIAB Business in a sentence
As of the date hereof, neither the New FIAB Business Owner nor, to the Knowledge of the Seller, any other party to any FIAB Business Contract is in material default or material breach or has failed to perform any material obligation under any FIAB Business Contract, and, to the Knowledge of the Seller, there does not exist any event, condition or omission that would constitute such a material breach or material default (whether by lapse of time or notice or both).
Prior to the date of such transfer, neither the Company nor, to the Knowledge of the Seller, any other party to any FIAB Business Contract was in material default or material breach or had failed to perform any material obligation under any FIAB Business Contract.
By no later than October 6, 2015, the Seller shall cause the New FIAB Business Owner to (a) sell or otherwise transfer the FIAB Business to a third party unrelated to the Seller or any of its Affiliates, or (b) cease all operations of the FIAB Business.
During the past three (3) years, there has been no material Action instituted or threatened in writing against the Seller, any of its Affiliates (including the New FIAB Business Owner), or the Company relating to the FIAB Business.