Approval by Purchaser Clause Samples

Approval by Purchaser. The Purchaser, in its capacity as the sole stockholder of Merger Sub, shall vote the shares of Merger Sub to approve and adopt the Merger, this Agreement and the transactions contemplated hereby, and shall cause Merger Sub to take any and all actions as may be necessary or appropriate to consummate the Merger and the other transactions contemplated hereby in accordance with the terms hereof.

Approval by Purchaser. The acceptance of any settlement or award, compensation or proceeds by Seller in the event of any condemnation under SECTION 9.1 or any casualty under SECTION 9.2 shall be subject to the approval and consent of Purchaser.

Approval by Purchaser. Purchaser shall have received the consent and approval of the board of directors of Purchaser to the terms and conditions of this Agreement and the Contemplated Transactions.

Approval by Purchaser. Purchaser has not previously terminated this Agreement pursuant to Section 8.1 hereof.

Approval by Purchaser. Purchaser shall have the period commencing with the date of this Agreement and continuing through December ___, 1998 (the "Due Diligence Period") in which to review and approve the reports, surveys, documents and other items set forth in Section 7.3 hereof (collectively, "Due Diligence Items"). 8.1.1 In the event that or before December ___, 1998 Purchaser notifies Seller that any one or more of the Due Diligence Items is not acceptable, or in the event that on or before December ___, 1998 Purchaser disapproves of the condition of the Property or any other matters relating to the Property which have been inspected by or revealed to Purchaser subsequent to the date of this Agreement, then Seller shall have a period of five (5) business days after each such notice in which Seller shall notify Purchaser in writing whether or not Seller intends to attempt to cure, satisfy or otherwise remedy to Purchaser's satisfaction ("Cure") such conditions or matters set forth in Purchaser's notice (such conditions or matters, collectively, "Purchaser's Objections"). If Seller elects to Cure Purchaser's Objections, then Seller shall have a period of thirty (30) days after Seller's receipt of the notice setting forth such Purchaser's Objections in which to Cure the same. If Seller has timely notified Purchaser that Seller does not intend to attempt to Cure the Purchaser's Objections, or if Seller elects to Cure the Purchaser's Objections and thereafter fails to Cure the same within the time period provided for herein, then, in either such event, Purchaser may, by written notice to Seller, elect to cancel this Agreement, in which event all parties shall be released and discharged of any further liability hereunder, except any liability under Section 11.4

Approval by Purchaser. The Board of Directors of Purchaser shall have authorized and approved (a) the execution, delivery and performance by Purchaser of this Agreement and the Contemplated Transactions and (b) the Bison Project. Purchaser acknowledges that this condition has been satisfied.

Approval by Purchaser. This Agreement and the transactions contemplated hereby shall have been approved by the boards of directors of Purchaser and TRX prior to the date hereof.

Approval by Purchaser. Seller shall have delivered all items and documentation provided in this Agreement to be delivered to Purchaser or Escrow Agent.

Approval by Purchaser. Seller shall not, without written approval of Purchaser, sell (a) any real estate, loans, securities, deposits, or a material amount of equipment or fixtures, or (b) any other assets outside the ordinary course of its business; provided, however, Seller may sell the assets related to the Maxton Office to Lumbee Guaranty Bank pursuant to the terms of a Letter of Intent dated February 28, 1995 between Seller and Lumbee Guaranty Bank as amended on July 13, 1995.