CONDITIONS TO EACH PARTY'S OBLIGATIONS TO EFFECT THE TRANSACTIONS CONTEMPLATED HEREBY. The respective obligations of each party hereto to effect the transactions contemplated hereby shall be subject to the following condition, which may be waived upon mutual agreement of KCAS, AAI and Merger Sub: Neither KCAS, AAI nor Merger Sub shall be subject on the Closing Date to any order, decree or injunction of a court of competent jurisdiction that enjoins or prohibits the consummation of this Agreement, nor shall there be pending a suit or proceeding by any governmental authority that seeks injunctive or other relief in connection with the transactions contemplated hereby.
Appears in 2 contracts
Sources: Merger Agreement (Applied Analytical Industries Inc), Merger Agreement (Phoenix International Life Sciences Inc)