Common use of ASSIGNEE COVENANTS Clause in Contracts

ASSIGNEE COVENANTS. (a) Assignee shall use commercially reasonable best efforts to obtain firm commitments of capital in the aggregate amount of no less than $400,000.00 within thirty (30) days of the execution of this Assignment Agreement (the “Milestone Date”), as evidenced by commitment letters or other evidence reasonably satisfactory to Assignor. If Assignee shall not provide such commitments to Assignor by the Milestone Date, Assignor shall have the option to terminate its obligations under this Assignment Agreement upon written notice of termination to Assignee (“Early Termination”). (b) The business and operations of the Company shall be conducted in the usual and ordinary course of business in accordance with good business practices between the date of this Assignment Agreement and the earlier of the Closing Date and the date of earlier termination of this Assignment Agreement in accordance with its terms.