Common use of Actions Prior to Closing Clause in Contracts

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion or Town House Schedules or as permitted or contemplated by this Agreement, Xerion and Town House and its Subsidiaries respectively, will each: (i) carry on its business in substantially the same manner as it has heretofore; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; (iv) perform in all material respects all of its obligation under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion nor Town House and its Subsidiaries will: (i) make any change in their organizational documents, articles of incorporation or bylaws; (ii) take any action described in section 2.6 in the case of Town House and its Subsidiaries or in section 4.7, in the case of Xerion (all except as permitted therein or as disclosed in the applicable party's schedules); or (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of business.

Appears in 3 contracts

Sources: Stock Exchange Agreement (Xerion Ecosolutions Group Inc), Stock Exchange Agreement (Xerion Ecosolutions Group Inc), Stock Exchange Agreement (Xerion Ecosolutions Group Inc)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion New Wave Schedules or Town House Global Schedules or as permitted or contemplated by this Agreement, Xerion New Wave (subject to paragraph (d) below) and Town House and its Subsidiaries Global respectively, will each: : (i) carry on its business in substantially the same manner as it has heretofore; ; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation obligations under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; ; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion New Wave nor Town House and its Subsidiaries Global will: : (i) make any change changes in their organizational documents, articles or certificate of incorporation or bylaws; ; (ii) take any action described in section 2.6 Section 1.07 in the case of Town House and its Subsidiaries Global, or in section 4.7Section 2.07, in the case of Xerion New Wave (all except as permitted therein or as disclosed in the applicable party's schedules); or ; (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of business involving the sale of goods or services; or (iv) sell any assets or discontinue any operations (other than the Divestiture), sell any shares of capital stock (other than as contemplated in Sections 4.07 and 4.08 hereof and the sale of securities underlying existing warrants or options of New Wave) or conduct any similar transactions other than in the ordinary course of business.

Appears in 2 contracts

Sources: Exchange Agreement (New Wave Windmills Corp), Exchange Agreement (New Wave Windmills Corp)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion Panther Schedules or Town House New Century Schedules or as permitted or contemplated by this Agreement, Xerion Panther (subject to paragraph (d) below) and Town House and its Subsidiaries New Century respectively, will each: : (i) carry on its business in substantially the same manner as it has heretofore; ; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation obligations under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; ; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing DateDate and except as permitted or contemplated by this Agreement, neither Xerion Panther nor Town House and its Subsidiaries New Century will: : (i) make any change changes in their organizational documents, articles or certificate of incorporation or bylaws; ; (ii) take any action described in section 2.6 Section 1.07 in the case of Town House and its Subsidiaries New Century, or in section 4.7Section 2.07, in the case of Xerion Panther (all except as permitted therein or as disclosed in the applicable party's schedules); or ; (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of business involving the sale of goods or services; or (iv) sell any assets or discontinue any operations, sell any shares of capital stock (other than as contemplated herein) or conduct any similar transactions other than in the ordinary course of business. (c) Any other provision of this Agreement notwithstanding, on or prior to the Closing Date, New Century shall be permitted, in its sole discretion, to (i) enter into leases and other agreements in the ordinary course of business and (ii) change its banking affiliation, including any bank with which it has established a line of credit. (d) In light of the fact that New Century's shareholders will control Panther as a result of the Exchange, from and after the date of this Agreement until the Closing Date, Panther shall take no action which is material to its business without the prior written approval of New Century, which New Century may give or withhold in its sole discretion after consultation with Panther.

Appears in 2 contracts

Sources: Exchange Agreement (Panther Telecommunications Corp), Exchange Agreement (Panther Telecommunications Corp)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion Company Schedules or Town House Safe Cell Schedules or as permitted or contemplated by this Agreement, Xerion the Company (subject to paragraph (b) below) and Town House and its Subsidiaries Safe Cell respectively, will each: : (i) carry on its business in substantially the same manner as it has heretofore; ; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation obligations under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; ; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion the Company nor Town House and its Subsidiaries Safe Cell will: : (i) make any change changes in their organizational documentsArticles of Incorporation or Bylaws, articles of incorporation or bylaws; except as otherwise provided in this Agreement; (ii) take any action described in section 2.6 Section 1.07 in the case of Town House and its Subsidiaries Safe Cell, or in section 4.7Section 2.07, in the case of Xerion the Company (all except as permitted therein or as disclosed in the applicable party's schedules); or ; (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of business involving the sale of goods or services; or (iv) sell any assets or discontinue any operations (other than the Divestiture), sell any shares of capital stock (other than as contemplated in Section 4.06 hereof and the sale of securities underlying existing warrants or options of the Company) or conduct any similar transactions other than in the ordinary course of business.

Appears in 2 contracts

Sources: Share Exchange Agreement (Claremont Technologies Corp), Exchange Agreement (Claremont Technologies Corp)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion CFP or Town House CTI Schedules or as permitted or contemplated by this Agreement, Xerion CFP and Town House and its Subsidiaries CTI respectively, will each: : (i) carry on its business in substantially the same manner as it has heretofore; : (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in it; scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; . (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion CFP nor Town House and its Subsidiaries CTI will: : (i) make any change in their organizational documents, articles of incorporation or bylaws; , except as provided herein: (ii) take any action described in section 2.6 1.07 in the case of Town House and its Subsidiaries CTI, or in section 4.73.07, in the case of Xerion CFP (all except as permitted therein or as disclosed in the applicable party's schedules); or ): or (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any any, contract, agreement, agreements or other instrument in the ordinary course of businessbusiness involving the sale of goods or services.

Appears in 2 contracts

Sources: Exchange Agreement (Cyntech Technologies Inc), Exchange Agreement (Cyntech Technologies Inc)

Actions Prior to Closing. (a) From and after the date of this Agreement November 24, 2020 until the Closing Date and except as set forth in the Xerion Company Schedules, an SEC Report or Town House SRM Schedules or as permitted or contemplated by this Agreement, Xerion the Company (subject to paragraph (d) below) and Town House and its Subsidiaries SRM respectively, will each: : (i) carry on its business in substantially the same manner as it has heretofore; heretofore and as disclosed in the SEC Reports; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation obligations under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; ; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement November 30, 2020 until the Closing Date, neither Xerion the Company nor Town House and its Subsidiaries SRM will: : (i) make any change changes in their organizational documentsArticles of Incorporation, articles or certificate of incorporation or bylaws; bylaws except as contemplated by this Agreement including a name change; (ii) take any action described in section 2.6 Section 1.07 in the case of Town House and its Subsidiaries SRM or in section 4.7, in the case of Xerion (all except as permitted therein or as disclosed in the applicable party's schedules); or Section 2.07, (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's ’s schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of business.business involving the sale of goods or services; or (iv) sell any assets or discontinue any operations, sell any shares of capital stock or conduct any similar transactions other than in the ordinary course of business except as disclosed in the SEC Reports

Appears in 1 contract

Sources: Stock Exchange Agreement (Jupiter Wellness, Inc.)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion Company Schedules or Town House Trans Max Schedules or as permitted or contemplated by this Agreement, Xerion the Company (subject to paragraph (b) below) and Town House and its Subsidiaries Trans Max respectively, will each: : (i) carry on its business in substantially the same manner as it has heretofore; ; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation obligations under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; ; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion the Company nor Town House and its Subsidiaries Trans Max will: : (i) make any change changes in their organizational documentsArticles of Incorporation or Bylaws, articles of incorporation or bylaws; except as otherwise provided in this Agreement; (ii) take any action described in section 2.6 Section 1.07 in the case of Town House and its Subsidiaries Trans Max, or in section 4.7Section 2.07, in the case of Xerion the Company (all except as permitted therein or as disclosed in the applicable party's schedules); or ; (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of business involving the sale of goods or services; or (iv) sell any assets or discontinue any operations (other than the Divestiture), sell any shares of capital stock (other than as contemplated in Section 4.06 hereof and the sale of securities underlying existing warrants or options of the Company) or conduct any similar transactions other than in the ordinary course of business.

Appears in 1 contract

Sources: Exchange Agreement (Perma Tune Electronics Inc)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion ACPI or Town House REF Schedules or as permitted or contemplated by this Agreement, Xerion ACPI and Town House and its Subsidiaries REF respectively, will each: : (i) carry on its business in substantially the same manner as it has heretofore; ; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; ; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion ACPI nor Town House and its Subsidiaries REF will: : (i) make any change in their organizational documents, articles of incorporation or bylaws; ; (ii) take any action described in section 2.6 1.07 in the case of Town House and its Subsidiaries REF, or in section 4.73.07, in the case of Xerion ACPI (all except as permitted therein or as disclosed in the applicable party's schedules); or or, (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of businessbusiness involving the sale of goods or services.

Appears in 1 contract

Sources: Stock Purchase Agreement (Almost Country Productions Inc)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion Sterling Schedules or Town House ITI Schedules or as permitted or contemplated by this Agreement, Xerion Sterling (subject to paragraph (d) below) and Town House and its Subsidiaries ITI respectively, will each: : (i) carry on its business in substantially the same manner as it has heretofore; ; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation obligations under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; ; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing DateDate and except as permitted or contemplated by this Agreement, neither Xerion Sterling nor Town House and its Subsidiaries ITI will: : (i) make any change changes in their organizational documents, articles or certificate of incorporation or bylaws; ; (ii) take any action described in section 2.6 Section 1.07 in the case of Town House and its Subsidiaries ITI, or in section 4.7Section 2.07, in the case of Xerion Sterling (all except as permitted therein or as disclosed in the applicable party's schedules); or ; (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of business involving the sale of goods or services; or (iv) sell any assets or discontinue any operations, sell any shares of capital stock (other than as contemplated herein) or conduct any similar transactions other than in the ordinary course of business. (c) Any other provision of this Agreement notwithstanding, on or prior to the Closing Date, (i) Sterling may sell its Commodore Plaza property, (ii) ITI may sell its interest in its Papa John’s franchise provided that the sales price is not less than $1,300,000, and (iii) ITI shall take all steps reasonably necessary to assure ownership by ITI, at the Closing Date, of each of the ITI Businesses. (d) In light of the fact that ITI's shareholders will control Sterling as a result of the Exchange, from and after the date of this Agreement until the Closing Date, Sterling shall take no action which is material to, and outside of the ordinary course of, its business without the prior written approval of ITI, which ITI may give or withhold in its sole discretion after consultation with Sterling.

Appears in 1 contract

Sources: Exchange Agreement (Sterling Equity Holdings Inc)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion Company Schedules or Town House Otish Schedules or as permitted or contemplated by this Agreement, Xerion the Company (subject to paragraph (b) below) and Town House and its Subsidiaries Otish respectively, will each: : (i) carry on its business in substantially the same manner as it has heretofore; ; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation obligations under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; ; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion the Company nor Town House and its Subsidiaries Otish will: : (i) make any change changes in their organizational documentsArticles of Incorporation or Bylaws, articles of incorporation or bylaws; except as otherwise provided in this Agreement; (ii) take any action described in section 2.6 Section 1.07 in the case of Town House and its Subsidiaries Otish, or in section 4.7Section 2.07, in the case of Xerion the Company (all except as permitted therein or as disclosed in the applicable party's schedules); or ; (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of business involving the sale of goods or services; or (iv) sell any assets or discontinue any operations (other than the Divestiture), sell any shares of capital stock (other than as contemplated in Section 4.06 hereof and the sale of securities underlying existing warrants or options of the Company) or conduct any similar transactions other than in the ordinary course of business.

Appears in 1 contract

Sources: Exchange Agreement (Otish Mountain Diamond Co)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion KAK or Town House ARR Schedules or as permitted or contemplated by this Agreement, Xerion KAK, and Town House and its Subsidiaries the ARR Parties, respectively, will each: : (i) carry on its business in substantially the same manner as it has heretofore; ; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation obligations under material contracts, leases, leases and instruments relating to or affecting its assets, properties, properties and business; ; (v) use its best reasonable commercial efforts to maintain and preserve its business organization intact, to retain its key employees, employees and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, regulations and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion nor Town House KAK and its Subsidiaries will: the ARR Parties shall have the right to terminate this Agreement in the event that the other party shall, prior to the Closing Date: (i) except as otherwise specifically set forth herein, make any change in their organizational documents, respective certificates or articles of incorporation or bylaws; ; (ii) take any action described in section 2.6 Section 1.11 in the case of Town House and its Subsidiaries ARR, or in section 4.7Section 2.11, in the case of Xerion KAK (all except as permitted therein or as disclosed in the applicable party's schedules); or or (iii) enter into or amend any contractContract, agreement, agreement or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contractContract, agreement, agreement or other instrument in the ordinary course of businessbusiness involving the sale of goods or services.

Appears in 1 contract

Sources: Agreement for the Purchase of Stock (Kakkimon Acquisitions Corp)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion Company Schedules or Town House Aero Marine Schedules or as permitted or contemplated by this Agreement, Xerion the Company (subject to paragraph (b) below) and Town House and its Subsidiaries Aero Marine respectively, will each: : (i) carry on its business in substantially the same manner as it has heretofore; ; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation obligations under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; ; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion the Company nor Town House and its Subsidiaries Aero Marine will: : (i) make any change changes in their organizational documentsArticles of Incorporation or Bylaws, articles of incorporation or bylaws; except as otherwise provided in this Agreement; (ii) take any action described in section 2.6 Section 1.07 in the case of Town House and its Subsidiaries Aero Marine, or in section 4.7Section 2.07, in the case of Xerion the Company (all except as permitted therein or as disclosed in the applicable party's schedules); or ; (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of business involving the sale of goods or services; or (iv) sell any assets or discontinue any operations (other than the Divestiture), sell any shares of capital stock (other than as contemplated in Section 4.06 hereof and the sale of securities underlying existing warrants or options of the Company) or conduct any similar transactions other than in the ordinary course of business.

Appears in 1 contract

Sources: Exchange Agreement (Princeton Ventures Inc)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion Sports Schedules or Town House Kinfair Schedules or as permitted or contemplated by this Agreement, Xerion Sports (subject to paragraph (d) below) and Town House and its Subsidiaries Kinfair respectively, will each: : (i) carry on its business in substantially the same manner as it has heretofore; ; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation obligations under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; ; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion Sports nor Town House and its Subsidiaries Kinfair will: : (i) make any change changes in their organizational documents, articles or certificate of incorporation or bylaws; bylaws except as contemplated by this Agreement including a name change; (ii) take any action described in section 2.6 Section 1.07 in the case of Town House and its Subsidiaries Kinfair or in section 4.7Section 2.07, in the case of Xerion Sports (all except as permitted therein or as disclosed in the applicable party's schedules); or ; (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of business involving the sale of goods or services; or (iv) sell any assets or discontinue any operations, sell any shares of capital stock or conduct any similar transactions other than in the ordinary course of business.

Appears in 1 contract

Sources: Share Exchange Agreement (Sports Source Inc)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion Global Schedules or Town House Rainbow Schedules or as permitted or contemplated by this Agreement, Xerion Global (subject to paragraph (d) below) and Town House and its Subsidiaries Rainbow respectively, will each: : (i) carry on its business in substantially the same manner as it has heretofore; ; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation obligations under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; ; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion Global nor Town House and its Subsidiaries Rainbow will: : (i) make any change changes in their organizational documents, articles or certificate of incorporation or bylaws; ; (ii) take any action described in section 2.6 Section 1.07 in the case of Town House and its Subsidiaries Rainbow, or in section 4.7Section 2.07, in the case of Xerion Global (all except as permitted therein or as disclosed in the applicable party's schedules); or ; (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of business involving the sale of goods or services; or (iv) sell any assets or discontinue any operations (other than the Divestiture), sell any shares of capital stock (other than as contemplated in Sections 4.07 and 4.08 hereof and the sale of securities underlying existing warrants or options of Global) or conduct any similar transactions other than in the ordinary course of business.

Appears in 1 contract

Sources: Exchange Agreement (China Global Development Inc)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion Company Schedules or Town House SLC Schedules or as permitted or contemplated by this Agreement, Xerion the Company (subject to paragraph (d) below) and Town House and its Subsidiaries SLC respectively, will each: : (i) carry on its business in substantially the same manner as it has heretofore; ; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation obligations under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; ; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion the Company nor Town House and its Subsidiaries SLC will: : (i) make any change changes in their organizational documents, articles or certificate of incorporation or bylaws; , except as otherwise provided in this Agreement; (ii) take any action described in section 2.6 Section 1.06 in the case of Town House and its Subsidiaries SLC, or in section 4.7Section 2.07, in the case of Xerion the Company (all except as permitted therein or as disclosed in the applicable party's schedules); or ; (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of business involving the sale of goods or services; or (iv) sell any assets or discontinue any operations (other than the Divestiture), sell any shares of capital stock (other than as contemplated in Section 4.06 hereof and the sale of securities underlying existing warrants or options of the Company) or conduct any similar transactions other than in the ordinary course of business.

Appears in 1 contract

Sources: Exchange Agreement (Integrated Enterprises Inc)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion OraLabs or Town House NVC Schedules or as permitted or contemplated by this Agreement, Xerion OraLabs and Town House NVC and its Subsidiaries wholly-owned subsidiary, NVCI, respectively, will each: (i) carry on its business in substantially the same manner as it has heretofore; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; (iv) perform in all material respects all of its obligation under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion OraLabs nor Town House NVC and its Subsidiaries wholly-owned subsidiary, NVCI, will: (i) make any change in their organizational documents, articles Certificate of incorporation Incorporation or bylaws; (ii) take any action described in section 2.6 in the case of Town House NVC and its Subsidiaries wholly-owned subsidiary, NVCI, or in section 4.7, in the case of Xerion OraLabs (all except as permitted therein or as disclosed in the applicable party's schedules); or (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of businessbusiness involving the sale of goods or services.

Appears in 1 contract

Sources: Stock Exchange Agreement (Oralabs Holding Corp)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion or Town House Maoming Schedules or as permitted or contemplated by this Agreement, Xerion Eternal (subject to paragraph (d) below) and Town House and its Subsidiaries Maoming respectively, will each: : (i) carry on its business in substantially the same manner as it has heretofore; ; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation obligations under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; ; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion Eternal nor Town House and its Subsidiaries Maoming will: : (i) make any change changes in their organizational documents, articles or certificate of incorporation or bylaws; or similar documents of organization and governance. (ii) take any action described in section 2.6 in the case of Town House and its Subsidiaries or in section 4.7, in the case of Xerion (all except as permitted therein or as disclosed in the applicable party's schedules); or Section 1.07. (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of business.business involving the sale of goods or services; or

Appears in 1 contract

Sources: Exchange Agreement (Eternal Technologies Group Inc)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion Waterford Schedules or Town House Eternal Schedules or as permitted or contemplated by this Agreement, Xerion Waterford (subject to paragraph (d) below) and Town House and its Subsidiaries Eternal respectively, will each: : (i) carry on its business in substantially the same manner as it has heretofore; ; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation obligations under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; ; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion Waterford nor Town House and its Subsidiaries Eternal will: : (i) make any change changes in their organizational documents, articles or certificate of incorporation or bylaws; ; (ii) take any action described in section 2.6 Section 1.07 in the case of Town House and its Subsidiaries Eternal, or in section 4.7Section 2.07, in the case of Xerion Waterford (all except as permitted therein or as disclosed in the applicable party's schedules); or ; (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of business involving the sale of goods or services; or (iv) sell any assets or discontinue any operations (other than the Divestiture), sell any shares of capital stock or conduct any similar transactions other than in the ordinary course of business.

Appears in 1 contract

Sources: Exchange Agreement (Waterford Sterling Corp)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion or Town House Schedules or as permitted or contemplated by this Agreement, Xerion OraLabs, the OraLabs Subsidiaries, PSHL and Town House and its Subsidiaries respectivelythe PSHL Subsidiary, will each: : (i) carry on its business in substantially the same manner as it has heretofore; ; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; ; (v) use its reasonable best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion OraLabs nor Town House PSHL and its Subsidiaries the PSHL Subsidiary will: : (i) make any change in their organizational documents, articles respective Articles of incorporation Incorporation or bylaws; Bylaws or its Memorandum and Articles of Association ; (ii) take any action described in section 2.6 3.10 in the case of Town House PSHL and its Subsidiaries the PSHL Subsidiary, or in section 4.75.12, in the case of Xerion OraLabs or the OraLabs Subsidiaries (all except as permitted therein or as disclosed in the applicable party's schedules); or or (iii) enter into or amend any material contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course Ordinary Course of businessBusiness involving the sale of goods or services.

Appears in 1 contract

Sources: Stock Exchange Agreement (Oralabs Holding Corp)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion Finders Schedules or Town House ▇▇▇▇▇ Schedules or as permitted or contemplated by this Agreement, Xerion Finders (subject to paragraph (d) below) and Town House and its Subsidiaries ▇▇▇▇▇ respectively, will each: : (i) carry on its business in substantially the same manner as it has heretofore; ; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation obligations under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; ; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion Finders nor Town House and its Subsidiaries ▇▇▇▇▇ will: : (i) make any change changes in their organizational documents, articles or certificate of incorporation or bylaws; ; (ii) take any action described in section 2.6 Section 1.07 in the case of Town House and its Subsidiaries ▇▇▇▇▇, or in section 4.7Section 2.07, in the case of Xerion Finders (all except as permitted therein or as disclosed in the applicable party's schedules); or ; (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of business involving the sale of goods or services; or (iv) sell any assets or discontinue any operations (other than the Divestiture), sell any shares of capital stock (other than as contemplated in Sections 4.07 and 4.08 hereof and the sale of securities underlying existing warrants or options of Finders) or conduct any similar transactions other than in the ordinary course of business.

Appears in 1 contract

Sources: Exchange Agreement (Finders Keepers Inc)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion Upland or Town House GSC Schedules or as permitted or contemplated by this Agreement, Xerion Upland and Town House and its Subsidiaries GSC, respectively, will each: : (i) carry on its business in substantially the same manner as it has heretofore; ; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation obligations under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; ; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion Upland nor Town House and its Subsidiaries GSC will: : (i) make any change in their organizational documents, articles respective certificates of incorporation or bylaws; bylaws except to the extent expressly permitted hereby; (ii) take any action described in section 2.6 1.07 in the case of Town House and its Subsidiaries GSC, or in section 4.72.07, in the case of Xerion Upland, (all except as permitted therein or as disclosed in the applicable party's schedules); or or (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of businessbusiness involving the sale of goods or services.

Appears in 1 contract

Sources: Exchange Agreement (Upland Energy Corp)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion Agreement or Town House Schedules attached hereto or as permitted or contemplated by this Agreement, Xerion Norske and Town House and its Subsidiaries Synoptech respectively, will each: : (i) carry on its business in substantially the same manner as it has heretofore; ; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; ; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion Synoptech nor Town House and its Subsidiaries Norske will: : (i) make any change in their organizational documents, articles of incorporation (except as provided for in Section 5.01) or bylaws; ; (ii) take any action described in section 2.6 1.07 in the case of Town House and its Subsidiaries Norske, or in section 4.73.07, in the case of Xerion Synoptech (all except as permitted therein or as disclosed in the applicable party's schedules); or or (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of businessbusiness involving the sale of goods or services.

Appears in 1 contract

Sources: Exchange Agreement (Ebaseone Corp)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion Company Schedules or Town House Sunshine Schedules or as permitted or contemplated by this Agreement, Xerion the Company and Town House and its Subsidiaries respectivelySunshine respectively (subject to paragraph (b) below), will each: : (i) carry on its business in substantially the same manner as it has heretofore; ; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation obligations under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; ; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion the Company nor Town House and its Subsidiaries Sunshine will: : (i) make any change changes in their organizational documentsthe Certificate of Incorporation or Bylaws in the case of the Company, articles or in the Articles of incorporation or bylaws; Organization in the case of Sunshine, except as otherwise provided in this Agreement; (ii) take any action described in section 2.6 Section 1.07 in the case of Town House and its Subsidiaries Sunshine, or in section 4.7Section 2.07, in the case of Xerion the Company (all except as permitted therein or as disclosed in the applicable party's schedules); or ; (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of business involving the sale of goods or services; or (iv) sell any assets or discontinue any operations, sell any shares of capital stock in the case of the Company, any ownership interests in the case of Sunshine, or conduct any similar transactions other than in the ordinary course of business.

Appears in 1 contract

Sources: Exchange Agreement (Nano Holdings International, Inc.)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion or Town House E-Sea Schedules or as permitted or contemplated by this Agreement, Xerion Eternal (subject to paragraph (d) below) and Town House and its Subsidiaries E-Sea respectively, will each: : (i) carry on its business in substantially the same manner as it has heretofore; ; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation obligations under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; ; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion Eternal nor Town House and its Subsidiaries E-Sea will: : (i) make any change changes in their organizational documents, articles or certificate of incorporation or bylaws; ; (ii) take any action described in section 2.6 in the case of Town House and its Subsidiaries or in section 4.7, in the case of Xerion (all except as permitted therein or as disclosed in the applicable party's schedules); or Section 1.07. (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of business.business involving the sale of goods or services; or

Appears in 1 contract

Sources: Exchange Agreement (Eternal Technologies Group Inc)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion LATVCO Schedules or Town House Avallon Schedules or as permitted or contemplated by this Agreement, Xerion LATVCO and Town House and its Subsidiaries Avallon respectively, will each: : (i) carry on its business in substantially the same manner as it has heretofore; ; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation obligations under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; ; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion LATVCO nor Town House and its Subsidiaries Avallon will: : (i) make any change changes in their organizational documents, articles or certificate of incorporation or bylaws; bylaws except as contemplated by this Agreement including a name change; (ii) take any action described in section 2.6 Section 1.07 in the case of Town House and its Subsidiaries Avallon or in section 4.7Section 2.07, in the case of Xerion LATVCO (all except as permitted therein or as disclosed in the applicable party's ’s schedules); or ; (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's ’s schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of business involving the sale of goods or services; or (iv) sell any assets or discontinue any operations, sell any shares of capital stock or conduct any similar transactions other than in the ordinary course of business.

Appears in 1 contract

Sources: Share Exchange Agreement (Latin American Telecommunications Venture Co)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion Agreement or Town House Schedules attached hereto or as permitted or contemplated by this Agreement, Xerion Moliris and Town House and its Subsidiaries Digifonica respectively, will each: (i) : 1. carry on its business in substantially the same manner as it has heretofore; (ii) ; 2. maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; (iii) ; 3. maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; (iv) ; 4. perform in all material respects all of its obligation under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; (v) ; 5. use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and (vi) and 6. fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion Moliris nor Town House and its Subsidiaries Digifonica will: (i) : 1. make any change in their organizational documentsits Articles of Association, articles Articles of incorporation Incorporation, Memorandum of Association or bylaws; (ii) Bylaws; 2. take any action described in section 2.6 Section 1.08 in the case of Town House and its Subsidiaries Digifonica, or in section 4.7Section 3.08, in the case of Xerion (all except as permitted therein or as disclosed in the applicable party's schedules)Moliris; or (iii) or 3. enter into or amend any contract, agreement, or other instrument of any of the types described in such party's ’s schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of businessbusiness involving the sale of goods or services.

Appears in 1 contract

Sources: Exchange Agreement (Moliris Corp)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion LSI Schedules or Town House Peregrine Schedules or as permitted or contemplated by this Agreement, Xerion LSI (subject to paragraph (d) below) and Town House and its Subsidiaries Peregrine respectively, will each: : (i) carry on its business in substantially the same manner as it has heretofore; ; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation obligations under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; ; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion LSI nor Town House and its Subsidiaries Peregrine will: : (i) make any change changes in their organizational documents, articles or certificate of incorporation or bylaws; ; (ii) take any action described in section 2.6 Section 1.07 in the case of Town House and its Subsidiaries Peregrine, or in section 4.7Section 2.07, in the case of Xerion LSI (all except as permitted therein or as disclosed in the applicable party's schedules); or ; (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of business involving the sale of goods or services; or (iv) sell any assets or discontinue any operations (other than the Divestiture), sell any shares of capital stock (other than as contemplated in Sections 4.07 and 4.08 hereof and the sale of securities underlying existing warrants or options of LSI) or conduct any similar transactions other than in the ordinary course of business.

Appears in 1 contract

Sources: Exchange Agreement (Lsi Communications Inc)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion T▇▇▇▇▇▇ I Schedules or Town House ZIG Schedules or as permitted or contemplated by this Agreement, Xerion T▇▇▇▇▇▇ I (subject to paragraph (d) below) and Town House and its Subsidiaries ZIG respectively, will each: : (i) carry on its business in substantially the same manner as it has heretofore; ; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation obligations under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; ; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion T▇▇▇▇▇▇ I nor Town House and its Subsidiaries ZIG will: : (i) make any change changes in their organizational documents, articles or certificate of incorporation or bylaws; ; (ii) take any action described in section 2.6 Section I.07 in the case of Town House and its Subsidiaries ZIG , or in section 4.7Section 2.07, in the case of Xerion T▇▇▇▇▇▇ I (all except as permitted therein or as disclosed in the applicable party's schedules); or ; (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of business involving the sale of goods or services; or (iv) sell any assets or discontinue any operations (other than the Divestiture), sell any shares of capital stock (other than as contemplated in Sections 4.07 and 4.08 hereof and the sale of securities underlying existing warrants or options of T▇▇▇▇▇▇ I) or conduct any similar transactions other than in the ordinary course of business. (c) In light of the fact that ZIG Shareholders will control T▇▇▇▇▇▇ I as a result of the Exchange, from and after the date of this Agreement until the Closing Date, T▇▇▇▇▇▇ I shall take no action which is material to its business without the prior written approval of ZIG , which ZIG may give or withhold in its sole discretion after consultation with T▇▇▇▇▇▇ ▇.

Appears in 1 contract

Sources: Exchange Agreement (Tabatha I Inc)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion Finity Schedules or Town House Flagship Schedules or as permitted or contemplated by this Agreement, Xerion Finity (subject to paragraph (d) below) and Town House and its Subsidiaries Flagship respectively, will each: : (i) carry on its business in substantially the same manner as it has heretofore; ; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation obligations under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; ; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion Finity nor Town House and its Subsidiaries Flagship will: : (i) make any change changes in their organizational documents, articles or certificate of incorporation or bylaws; bylaws except as contemplated by this Agreement including a name change; (ii) take any action described in section 2.6 Section 1.07 in the case of Town House and its Subsidiaries Flagship or in section 4.7Section 2.07, in the case of Xerion Finity (all except as permitted therein or as disclosed in the applicable party's schedules); or ; (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of business involving the sale of goods or services; or (iv) sell any assets or discontinue any operations, sell any shares of capital stock or conduct any similar transactions other than in the ordinary course of business.

Appears in 1 contract

Sources: Share Exchange Agreement (Finity Holdings Inc)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion Agreement or Town House Schedules attached hereto or as permitted or contemplated by this Agreement, Xerion and Town House and its Subsidiaries Sark▇▇ ▇▇▇ LoanNet respectively, will each: : (i) carry on its business in substantially the same manner as it has heretofore; ; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; ; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion nor Town House and its Subsidiaries Sark▇▇ ▇▇▇ LoanNet will: : (i) make any change in their organizational documents, articles Articles or Certificate of incorporation Incorporation (except as provided for in Section 5.01) or bylaws; Bylaws; (ii) take any action described in section 2.6 Section 1.08 in the case of Town House and its Subsidiaries LoanNet , or in section 4.7Section 3.08, in the case of Xerion Sark▇▇ (all except ▇▇cept as permitted therein or as disclosed in the applicable party's schedules); or or (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of businessbusiness involving the sale of goods or services. (c) Sark▇▇ ▇▇▇ll have issued warrants to purchase 200,000 shares to Kech▇▇▇▇▇ ▇▇ $0.18 per share for an aggregate strike price of $36,000.

Appears in 1 contract

Sources: Exchange Agreement (Sarkis Capital Inc)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion Sunbelt or Town House iExalt Schedules or as permitted or contemplated by this Agreement, Xerion Sunbelt and Town House and its Subsidiaries iExalt respectively, will each: : (i) carry on its business in substantially the same manner as it has heretofore; ; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; ; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion Sunbelt nor Town House and its Subsidiaries iExalt will: : (i) make any change in their organizational documents, articles of incorporation or bylaws; , except as provided herein; (ii) take any action described in section 2.6 1.07 in the case of Town House and its Subsidiaries iExalt, or in section 4.73.07, in the case of Xerion Sunbelt (all except as permitted therein or as disclosed in the applicable party's schedules); or or (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of businessbusiness involving the sale of goods or services.

Appears in 1 contract

Sources: Exchange Agreement (Sunbelt Exploration Inc)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion EPAT or Town House American Schedules or as permitted or contemplated by this Agreement, Xerion EPAT and Town House American and its Subsidiaries Subsidiary respectively, will each: (i) carry on its business in substantially the same manner as it has heretofore; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; (iv) perform in all material respects all of its obligation under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion EPAT nor Town House American and its Subsidiaries Subsidiary will: (i) make any change in their organizational documents, articles of incorporation or bylaws; (ii) take any action described in section 2.6 2.7 in the case of Town House American and its Subsidiaries Subsidiary or in section 4.7, in the case of Xerion EPAT (all except as permitted therein or as disclosed in the applicable party's schedules); or (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of businessbusiness involving the sale of goods or services.

Appears in 1 contract

Sources: Stock Exchange Agreement (Earth Products & Technologies Inc)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion Agreement or Town House Schedules attached hereto or as permitted or contemplated by this Agreement, Xerion LOCX and Town House and its Subsidiaries DASI respectively, will each: : (i) carry on its business in substantially the same manner as it has heretofore; ; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; ; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion DASI nor Town House and its Subsidiaries LOCX will: : (i) make any change in their organizational documents, articles of incorporation (except as provided for in Section 5.01) or bylaws; ; (ii) take any action described in section 2.6 Section 1.07 in the case of Town House and its Subsidiaries LOCX , or in section 4.7Section 3.07, in the case of Xerion DASI (all except as permitted therein or as disclosed in the applicable party's schedules); or or (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of businessbusiness involving the sale of goods or services.

Appears in 1 contract

Sources: Exchange Agreement (Loch Exploration Inc)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion Comet or Town House Schedules or as permitted or contemplated by this Agreement, Xerion Comet and Town House and its Subsidiaries wholly-owned subsidiary, Wuhan, respectively, will each: (i) carry on its business in substantially the same manner as it has heretofore; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; (iv) perform in all material respects all of its obligation under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion Comet nor Town House and its Subsidiaries wholly-owned subsidiary, Wuhan will: (i) make any change in their organizational documents, articles of incorporation or bylaws; (ii) take any action described in section 2.6 2.7 in the case of Town House and its Subsidiaries wholly-owned subsidiary, Wuhan, or in section 4.73.7, in the case of Xerion Comet (all except as permitted therein or as disclosed in the applicable party's schedules); or (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of businessbusiness involving the sale of goods or services.

Appears in 1 contract

Sources: Stock Exchange Agreement (Comet Technologies Inc)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion Am-Pac or Town House T&P Schedules or as permitted or contemplated by this Agreement, Xerion Am-Pac and Town House and its Subsidiaries T&P respectively, will each: : (i) carry on its business in substantially the same manner as it has heretofore; ; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation obligations under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; ; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion Am-Pac nor Town House and its Subsidiaries T&P will: : (i) make any change changes in their organizational documents, articles of incorporation or bylaws; ; (ii) take any action described in section 2.6 Section 1.07 in the case of Town House and its Subsidiaries T&P, or in section 4.7Section 3.07, in the case of Xerion Am-Pac (all except as permitted therein or as disclosed in the applicable party's schedules); or or (iii) enter into or amend any contract, agreement, or other instrument instruments of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of business involving the sale of goods or services; and Am-Pac may execute the exchange agreement with the Spanish development company referenced herein and may continue to negotiate and seek opportunities to acquire business, and enter contracts accordingly.

Appears in 1 contract

Sources: Exchange Agreement (Captain Tonys Pizza Inc /Ny/)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion CLCK or Town House CNG Schedules or as permitted or contemplated by this Agreement, Xerion CLCK, and Town House and its Subsidiaries the CNG, respectively, will each: : (i) carry on its business in substantially the same manner as it has heretofore; ; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation obligations under material contracts, leases, leases and instruments relating to or affecting its assets, properties, properties and business; ; (v) use its best reasonable commercial efforts to maintain and preserve its business organization intact, to retain its key employees, employees and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, regulations and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion nor Town House CLCK and its Subsidiaries will: CNG shall have the right to terminate this Agreement in the event that the other party shall, prior to the Closing Date: (i) except as otherwise specifically set forth herein, make any change in their organizational documents, respective certificates or articles of incorporation or bylaws; ; (ii) take any action described in section 2.6 Section 1.7 in the case of Town House and its Subsidiaries CNG, or in section 4.7Section 2.11, in the case of Xerion CLCK (all except as permitted therein or as disclosed in the applicable party's schedules); or or (iii) enter into or amend any contractContract, agreement, agreement or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contractContract, agreement, agreement or other instrument in the ordinary course of businessbusiness involving the sale of goods or services.

Appears in 1 contract

Sources: Purchase Agreement (Columbia Capital Corp/Tx/)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion Comet or Town House American Schedules or as permitted or contemplated by this Agreement, Xerion Comet and Town House American and its Subsidiaries Subsidiary respectively, will each: (i) carry on its business in substantially the same manner as it has heretofore; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; (iv) perform in all material respects all of its obligation under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion Comet nor Town House American and its Subsidiaries Subsidiary will: (i) make any change in their organizational documents, articles of incorporation or bylaws; (ii) take any action described in section 2.6 2.7 in the case of Town House American and its Subsidiaries Subsidiary or in section 4.73.7, in the case of Xerion Comet (all except as permitted therein or as disclosed in the applicable party's schedules); or (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of businessbusiness involving the sale of goods or services.

Appears in 1 contract

Sources: Stock Exchange Agreement (Comet Technologies Inc)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion or Town House Hainan Schedules or as permitted or contemplated by this Agreement, Xerion Eternal (subject to paragraph (d) below) and Town House and its Subsidiaries Hainan respectively, will each: : (i) carry on its business in substantially the same manner as it has heretofore; ; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation obligations under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; ; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion Eternal nor Town House and its Subsidiaries Hainan will: : (i) make any change changes in their organizational documents, articles or certificate of incorporation or bylaws; or similar documents of organization and governance. (ii) take any action described in section 2.6 in the case of Town House and its Subsidiaries or in section 4.7, in the case of Xerion (all except as permitted therein or as disclosed in the applicable party's schedules); or Section 1.07. (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of business.business involving the sale of goods or services; or

Appears in 1 contract

Sources: Exchange Agreement (Eternal Technologies Group Inc)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion Company Schedules or Town House MT Schedules or as permitted or contemplated by this Agreement, Xerion the Company (subject to paragraph (b) below) and Town House and its Subsidiaries MT respectively, will each: : (i) carry on its business in substantially the same manner as it has heretofore; ; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation obligations under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; ; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion the Company nor Town House and its Subsidiaries MT will: : (i) make any change changes in their organizational documentsArticles of Incorporation or Bylaws, articles of incorporation or bylaws; except as otherwise provided in this Agreement; (ii) take any action described in section 2.6 Section 1.07 in the case of Town House and its Subsidiaries MT, or in section 4.7Section 2.07, in the case of Xerion the Company (all except as permitted therein or as disclosed in the applicable party's schedules); or ; (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of business involving the sale of goods or services; or (iv) sell any assets or discontinue any operations (other than the Divestiture, if any), sell any shares of capital stock (other than as contemplated in Section 4.06 hereof and the sale of securities underlying existing warrants or options of the Company) or conduct any similar transactions other than in the ordinary course of business.

Appears in 1 contract

Sources: Exchange Agreement (Java Juice Net)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion Agreement or Town House Schedules attached hereto or as permitted or contemplated by this Agreement, Xerion PTC-Nevada and Town House and its Subsidiaries PTC-Texas respectively, will each: : (i) carry on its business in substantially the same manner as it has heretofore; ; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; ; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion PTC-Texas nor Town House and its Subsidiaries PTC-Nevada will: : (i) make any change in their organizational documents, articles of incorporation (except as provided for in Section 5.01) or bylaws; ; (ii) take any action described in section 2.6 1.07 in the case of Town House and its Subsidiaries PTC-Nevada , or in section 4.73.07, in the case of Xerion PTC-Texas (all except as permitted therein or as disclosed in the applicable party's schedules); or or (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of businessbusiness involving the sale of goods or services.

Appears in 1 contract

Sources: Exchange Agreement (Prepaid Telecom Corp)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion Company Schedules or Town House Cascade Mountain Schedules or as permitted or contemplated by this Agreement, Xerion the Company (subject to paragraph (d) below) and Town House and its Subsidiaries Cascade Mountain respectively, will each: : (i) carry on its business in substantially the same manner as it has heretofore; ; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation obligations under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; ; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion the Company nor Town House and its Subsidiaries Cascade Mountain will: : (i) make any change changes in their organizational documents, articles or certificate of incorporation or bylaws; , except as otherwise provided in this Agreement; (ii) take any action described in section 2.6 Section 1.07 in the case of Town House and its Subsidiaries Cascade Mountain, or in section 4.7Section 2.07, in the case of Xerion the Company (all except as permitted therein or as disclosed in the applicable party's schedules); or ; (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of business involving the sale of goods or services; or (iv) sell any assets or discontinue any operations (other than the Divestiture), sell any shares of capital stock (other than as contemplated in Section 4.06 hereof and the sale of securities underlying existing warrants or options of the Company) or conduct any similar transactions other than in the ordinary course of business.

Appears in 1 contract

Sources: Exchange Agreement (Web Views Corp)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion Company Schedules or Town House World Golf Schedules or as permitted or contemplated by this Agreement, Xerion the Company (subject to paragraph (d) below) and Town House and its Subsidiaries World Golf respectively, will each: : (i) carry on its business in substantially the same manner as it has heretofore; ; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation obligations under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; ; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion the Company nor Town House and its Subsidiaries World Golf will: : (i) make any change changes in their organizational documents, articles or certificate of incorporation or bylaws; , except as otherwise provided in this Agreement; (ii) take any action described in section 2.6 Section 1.07 in the case of Town House and its Subsidiaries World Golf, or in section 4.7Section 2.07, in the case of Xerion the Company (all except as permitted therein or as disclosed in the applicable party's schedules); or ; (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of business involving the sale of goods or services; or (iv) sell any assets or discontinue any operations (other than the Divestiture), sell any shares of capital stock (other than as contemplated in Section 4.06 hereof and the sale of securities underlying existing warrants or options of the Company) or conduct any similar transactions other than in the ordinary course of business.

Appears in 1 contract

Sources: Exchange Agreement (Novus Laboratories Inc)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion Company Schedules or Town House AIT Schedules or as permitted or contemplated by this Agreement, Xerion the Company (subject to paragraph (d) below) and Town House and its Subsidiaries AIT respectively, will each: : (i) carry on its business in substantially the same manner as it has heretofore; ; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation obligations under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; ; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion the Company nor Town House and its Subsidiaries AIT will: : (i) make any change changes in their organizational documents, articles or certificate of incorporation or bylaws; , except as otherwise provided in this Agreement; (ii) take any action described in section 2.6 in the case of Town House and its Subsidiaries or in section 4.7, in the case of Xerion (all except as permitted therein or as disclosed in the applicable party's schedules); or (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of business involving the sale of goods or services; or (iii) sell any assets or discontinue any operations (other than the Divestiture), sell any shares of capital stock (other than as contemplated in Section 4.06 hereof and the sale of securities underlying existing warrants or options of the Company) or conduct any similar transactions other than in the ordinary course of business.

Appears in 1 contract

Sources: Exchange Agreement (American International Assets Inc)

Actions Prior to Closing. (a) From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion Company Schedules or Town House Hy-Tech Schedules or as permitted or contemplated by this Agreement, Xerion the Company (subject to paragraph (d) below) and Town House and its Subsidiaries Hy-Tech respectively, will each: : (i) carry on its business in substantially the same manner as it has heretofore; ; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation obligations under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; ; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) From and after the date of this Agreement until the Closing Date, neither Xerion the Company nor Town House and its Subsidiaries Hy-Tech will: : (i) make any change changes in their organizational documents, articles or certificate of incorporation or bylaws; , except as otherwise provided in this Agreement; (ii) take any action described in section 2.6 Section 1.07 in the case of Town House and its Subsidiaries Hy-Tech, or in section 4.7Section 2.07, in the case of Xerion the Company (all except as permitted therein or as disclosed in the applicable party's schedules); or ; (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of business involving the sale of goods or services; or (iv) sell any assets or discontinue any operations (other than the Divestiture), sell any shares of capital stock (other than as contemplated in Section 4.06 hereof and the sale of securities underlying existing warrants or options of the Company) or conduct any similar transactions other than in the ordinary course of business.

Appears in 1 contract

Sources: Exchange Agreement (SRM Networks Inc)

Actions Prior to Closing. (a) A. From and after the date of this Agreement until the Closing Date and except as set forth in the Xerion Agreement or Town House Schedules attached hereto or as permitted or contemplated by this Agreement, Xerion DESIGN and Town House and its Subsidiaries DYNAMIC respectively, will each: : (i) carry on its business in substantially the same manner as it has heretofore; ; (ii) maintain and keep its properties in states of good repair and condition as at present, except for depreciation due to ordinary wear and tear and damage due to casualty; ; (iii) maintain in full force and effect insurance comparable in amount and in scope of coverage to that now maintained by it; ; (iv) perform in all material respects all of its obligation under material contracts, leases, and instruments relating to or affecting its assets, properties, and business; ; (v) use its best efforts to maintain and preserve its business organization intact, to retain its key employees, and to maintain its relationship with its material suppliers and customers; and and (vi) fully comply with and perform in all material respects all obligations and duties imposed on it by all federal and state laws and all rules, regulations, and orders imposed by federal or state governmental authorities. (b) B. From and after the date of this Agreement until the Closing Date, neither Xerion DYNAMIC nor Town House and its Subsidiaries DESIGN will: : (i) make any change in their organizational documents, articles of incorporation or bylaws; articles of organization, bylaws or regulations; (ii) take any action described in section 2.6 Section 1.07 in the case of Town House and its Subsidiaries DESIGN or in section 4.7, Section 3.06 in the case of Xerion DYNAMIC (all except as permitted therein or as disclosed in the applicable party's schedules); or or (iii) enter into or amend any contract, agreement, or other instrument of any of the types described in such party's schedules, except that a party may enter into or amend any contract, agreement, or other instrument in the ordinary course of businessbusiness involving the sale of goods or services.

Appears in 1 contract

Sources: Merger Agreement (Design Automation Systems Inc)