Common use of Continuing Operations Clause in Contracts

Continuing Operations. The Parties agree that, notwithstanding --------------------- the occurrence of the Closing, the Seller shall continue to have title to and possession of all of the Acquired Assets until June 30, 2001, and shall continue to operate the Acquired Assets to produce Inventory between the Closing and June 30, 2001. The Seller shall be responsible for all Losses arising out of or related to the conduct of the Business or the ownership of the Acquired Assets until title to the Acquired Assets is transferred to the Buyer in accordance with the terms hereof. On and as of June 30, 2001, except solely to the extent required to comply with (S) 5.10, the Selling Parties shall have: (i) ceased all manufacturing operations at the Streamwood Facility; (ii) closed the Streamwood Facility in accordance with (S) 5.12; and (iii) terminated the employment of all of the employees of the Seller except those employees that are to be retained by the Seller. 2.8. Section 5.10. Section 5.10 of the Prior Agreement is amended by ------------ substituting the phrase "June 30, 2001" for the phrase "the Closing Date" each place where it appears therein. 2.9. Section 5.11. Section 5.11 of the Prior Agreement is amended by ------------ substituting the phrase "June 30, 2001" for the phrase "the Closing Date" each place where it appears therein. The first paragraph of Section 5.11 is amended to read in its entirety as follows: