Examples of PEO Business in a sentence
Except as set forth in Section 4.9(b) of the Disclosure Schedule, the PEO Business has, and, prior to Closing, the PEO Group will have, all material permits, licenses, trademarks, service marks, franchises, variances, exemptions, orders and other Governmental Authorizations, consents and approvals necessary to conduct its business as currently conducted.
The license will be paid-up for the current use of the software in its current release to the extent the PEO Business is not already paying a license fee (by way of royalty or otherwise) for such use.
Except as set forth in Section 4.16(ii) of the Disclosure Schedule, each Contract that is material to the PEO Business as currently conducted is a valid and binding agreement of the Philips Affiliate which is a party thereto and is in full force and effect.
To the extent that insurance policies of the PEO Business will not survive the Closing, FEI and PIE shall cooperate to procure effective upon the Closing, insurance policies with respect to all material risks of the PEO Business, including, without limitation, fire and casualty, general liability, business interruption, product liability, and sprinkler and water damage insurance policies.
In cases where the PEO Business uses software either itself or as product to be distributed (whether or not embedded in such product), and such software is owned or co-owned by any company within the Philips Group, other than any company transferred to PEO Holdings as part of the PEO Business, Philips will grant to FEI a license in order to enable it to continue to use such software.
Flooding is the greatest hazard, potentially affecting over 600 million people in 233 largest cities.
No investigation or review by any Governmental Entity with respect to the PEO Business, or any corporation in the PEO Group is pending or, to the Knowledge of PIE, threatened, nor has any Governmental Entity indicated an intention to conduct the same other than routine investigations occurring in the ordinary course of business.
To the Knowledge of PIE, there is no material default by the other party to or any event, occurrence or circumstance which, upon the passage of time or the giving of notice or both, would result in a material default under any Contract that is material to the PEO Business as currently conducted, which default or potential default has not been cured or waived.
To the Knowledge of PIE, no material customer or supplier of the PEO Business will cease or substantially reduce the business conducted with the PEO Business after, or as a result of, the consummation of the Transaction contemplated hereby.
To the Knowledge of PIE, no material change is required in the processes, properties or procedures of the PEO Business or any corporation in the PEO Group in connection with any such Laws, and PIE has not received any notice or communication of any material noncompliance with any such Laws that has not been cured as of the date hereof.