Financing Status. Parent shall keep Seller reasonably informed to the extent requested in writing by Seller from time to time with respect to all material activity concerning the status of the Financing, and shall give Seller prompt notice of any event or change that Parent determines shall materially and adversely affect the ability of Parent timely to consummate the Financing. Without limiting the foregoing, Parent agrees to notify Seller as promptly as reasonably practicable, if at any time: (a) the Commitment Letter shall expire or be terminated for any reason, (b) any financing source that is a party to the Commitment Letter notifies Buyer in writing that such source no longer intends to provide financing to Buyer on the terms set forth in the Commitment Letter (including the “flex” provisions of the related fee letter), or (c) a material breach, default, dispute or disagreement occurs or is alleged under the Commitment Letter or the Definitive Financing Agreements. Buyer shall deliver to Seller copies of drafts of the Definitive Financing Agreements (and its comments thereon) promptly as reasonably practicable after receipt (or delivery) thereof and a copy of the Definitive Financing Agreements as promptly as reasonably practicable after the execution and delivery thereof.
Appears in 2 contracts
Sources: Stock Purchase Agreement (Aci Worldwide, Inc.), Stock Purchase Agreement (Western Union CO)