Common use of If Waivers or Consents Cannot Be Obtained Clause in Contracts

If Waivers or Consents Cannot Be Obtained. To the extent and for so long as all consents, approvals, and waivers required for the assignment of any Nonassignable Contracts, Insurance Contracts or Permits shall not have been obtained by Seller, Seller shall use its best efforts to, (a) provide to Purchaser the financial and business benefits of any such Nonassignable Contract, Insurance Contract or Permit and (b) enforce, at the request of Purchaser, for the account of Purchaser, any rights of Seller arising from any such Nonassignable Contract, Insurance Contract or Permit (including the right to elect to terminate in accordance with the terms thereof upon the advice of Purchaser). Following the Closing, Seller shall not terminate, modify, or amend any Nonassignable Contract, Insurance Contract or Permit without Purchaser's prior written consent.

Appears in 1 contract

Sources: Asset Purchase Agreement (MTM Technologies, Inc.)

If Waivers or Consents Cannot Be Obtained. To the extent and for so long as all consents, approvals, and waivers required for the assignment of any Nonassignable Contracts, Insurance Contracts or Permits shall not have been obtained by Sellerthe Sellers, Seller the Sellers shall use its their best efforts to, (a) provide to Purchaser the financial and business benefits of any such Nonassignable Contract, Insurance Contract or Permit and (b) enforce, at the request of Purchaser, for the account and at the expense of Purchaser, any rights of Seller the Sellers arising from any such Nonassignable Contract, Insurance Contract or Permit (including the right to elect to terminate in accordance with the terms thereof upon the advice of Purchaser). Following the Closing, Seller the Sellers shall not terminate, modify, or amend any Nonassignable Contract, Insurance Contract or Permit without Purchaser's prior written consent.

Appears in 1 contract

Sources: Asset Purchase Agreement (MTM Technologies, Inc.)