No Impediment to Liquidation. Subject to Sections 2.2(e), 7.4(c) and 7.10, nothing herein shall be deemed or construed as to limit, restrict or impose any impediment to the Sellers' right to liquidate, dissolve and wind-up its affairs and to cease all business activities and operations at such time as it may determine following the Closing. Subject to Sections 2.2(e), 7.4(c) and 7.10, the Sellers shall not be obligated to retain assets or employees or to continue operations following the Closing (or to retain outsource assistance) in order to satisfy its obligations hereunder.
Appears in 2 contracts
Sources: Asset Purchase Agreement (Teligent Inc), Asset Purchase Agreement (Teligent Inc)
No Impediment to Liquidation. Subject to Sections 2.2(e), 7.4(c) 6.2(c), 6.4 and 7.106.7, nothing herein shall be deemed or construed as to limit, restrict or impose any impediment to the Sellers' right to liquidate, dissolve and wind-up its affairs and to cease all business activities and operations at such time as it may determine following the Closing, including conversion to Chapter 7. Subject to Sections 2.2(e), 7.4(c) 6.2(c), 6.4 and 7.106.7, the Sellers shall not be obligated to retain assets or employees or to continue operations following the Closing (or to retain outsource assistance) in order to satisfy its obligations hereunderhereunder except to the extent that such would directly contravene the obligations of the Sellers under this Agreement or the Management Agreement.
Appears in 1 contract
Sources: Asset Purchase Agreement (Idt Corp)