Operations in Ordinary Course. Except as otherwise provided in this Agreement, the Merger Agreement or any Ancillary Agreement, during the period from the date of this Agreement through the Distribution Date, each of Tenneco, Industrial Company and Shipbuilding Company shall, and shall cause any entity that is a Subsidiary of such party at any time during such period to, conduct its business in a manner substantially consistent with current and past operating practices and in the ordinary course, including, without limitation, with respect to the payment and administration of accounts payable and the collection and administration of accounts receivable, the purchase of capital assets and equipment and the management of inventories.
Appears in 3 contracts
Sources: Distribution Agreement (Newport News Shipbuilding Inc), Distribution Agreement (Newport News Shipbuilding Inc), Distribution Agreement (Newport News Shipbuilding Inc)