Common use of Conditions in Favour of the Purchaser Clause in Contracts

Conditions in Favour of the Purchaser. The obligation of the Purchaser to complete the Purchase Transaction is subject to and conditional upon the satisfaction of the following conditions on or before the Closing Date: (1) all the representations and warranties of the Receiver contained in this Purchase Agreement shall be true and correct in all material respects on the Closing Date; (2) all the covenants of the Receiver under this Purchase Agreement to be performed on or before the Closing Date shall have been duly performed by the Receiver; (3) the Receiver shall have complied with all the terms contained in this Purchase Agreement applicable to the Receiver prior to the Closing Date; (4) there shall be no Claim, litigation or proceedings commenced after the date of the Sale Process Order, or order issued by a Governmental Authority after the date of the Sale Process Order, against either of the Parties for the purpose of enjoining, preventing or restraining the completion of the Purchase Transaction or otherwise claiming that such completion is improper; and (5) the Court shall have issued the Approval and Vesting Order.

Conditions in Favour of the Purchaser. The obligation of the Purchaser to complete the Purchase Transaction is subject to and conditional upon the satisfaction of the following conditions on or before the Closing Date: (1) all the representations and warranties of the Receiver Proposal Trustee contained in this Purchase Agreement shall be true and correct in all material respects on the Closing Date; (2) all the covenants of the Receiver Proposal Trustee under this Purchase Agreement to be performed on or before the Closing Date shall have been duly performed by the ReceiverProposal Trustee; (3) the Receiver Proposal Trustee shall have complied with all the terms contained in this Purchase Agreement applicable to the Receiver Proposal Trustee prior to the Closing Date; (4) there shall be no Claim, litigation or proceedings commenced after the date of the Sale Process Order, or order issued by a Governmental Authority after the date of the Sale Process Order, against either of the Parties for the purpose of enjoining, preventing or restraining the completion of the Purchase Transaction or otherwise claiming that such completion is improper; and (5) the Court shall have issued the Approval and Vesting Order.