Common use of Customary Business Practice Clause in Contracts

Customary Business Practice. Except for entertainment which is usual, customary and legally permissible and except for gifts of nominal value which are legally permissible, with respect to the Business, neither Seller nor any employee, officer, director or agent of Seller acting on behalf of Seller has, directly or indirectly, made or authorized the making of any offer, payment or promise to pay any money or give anything of value to (a) any official or employee of a Governmental Body, (b) any political party or official thereof or any candidate for political office or (c) any customer, supplier or competitor of Seller or any employee, officer or director thereof in order to assist Seller in obtaining or retaining business for or with, or directing business to, any person, nor engaged in any other practice (including violation of any antitrust law or law regulating minority business enterprises), which would be likely to subject the Business to any damage or penalty in any civil, criminal or governmental litigation or proceeding or which would be likely to be used as the basis for termination or modification of any contract, license or other instrument related to the Business to which Seller is a party.

Appears in 2 contracts

Sources: Asset Purchase Agreement (Powell Industries Inc), Asset Purchase Agreement (Powell Industries Inc)