Common use of Ordinary Operations Clause in Contracts

Ordinary Operations. Since the Effective Date, the Company has not: A. issued any bond or other security; B. borrowed any amount or incurred or become subject to any liability (absolute, accrued or contingent); C. discharged or satisfied any lien or encumbrance or incurred or paid any obligation or liability (absolute, accrued or contingent) other than current liabilities shown on the Financial Statements and current liabilities incurred since the Effective Date in the ordinary course of business; D. mortgaged, pledged or subjected to lien or other encumbrance any of the Assets; E. sold, assigned, or transferred any of its tangible assets except in the ordinary course of business or forgiven or canceled any debt or claim or waived any right; F. sold, assigned, transferred, or granted any exclusive license with respect to any trade name, service ▇▇▇▇ or other intangible asset; G. suffered any material damage or destruction adversely affecting the properties or business of the Company or the Assets; H. made any material change in the manner of business or operations including any change in accounting principles and practices; I. entered into or terminated any contract or transaction, except in the ordinary course of business or as otherwise contemplated hereby; J. suffered any material adverse change in its working capital, assets, liabilities, financial condition, business prospects, or relationships with any suppliers or customers; K. increased the compensation payable or to become payable to any employee or increased any bonus, insurance, pension or other employee benefit plan, payment or arrangement for such employees or entered into or amended any employment, consulting, severance or similar agreement; L. without limiting the generality of any of the foregoing, entered into any transaction except in the ordinary and usual course of its business and consistent with its past practice; M. agreed to do any of the foregoing; or N. noted any material adverse change in the function or operation of the Personal Property.

Ordinary Operations. Since the Effective Date, the Company has not: A. issued any bond or other security; B. borrowed any amount or incurred or become subject to any liability (absolute, accrued or contingent); C. discharged or satisfied any lien or encumbrance or incurred or paid any obligation or liability (absolute, accrued or contingent) other than current liabilities shown on the Financial Statements and current liabilities incurred since the Effective Date in the ordinary course of business; D. mortgaged, pledged or subjected to lien or other encumbrance any of the Assets; E. sold, assigned, or transferred any of its tangible assets except in the ordinary course of business or forgiven or canceled any debt or claim or waived any right; F. sold, assigned, transferred, or granted any exclusive license with respect to any trade name, service ▇m▇▇▇ or other intangible asset; G. suffered any material damage or destruction adversely affecting the properties or business of the Company or the Assets; H. made any material change in the manner of business or operations including any change in accounting principles and practices; I. entered into or terminated any contract or transaction, except in the ordinary course of business or as otherwise contemplated hereby; J. suffered any material adverse change in its working capital, assets, liabilities, financial condition, business prospects, or relationships with any suppliers or customers; K. increased the compensation payable or to become payable to any employee or increased any bonus, insurance, pension or other employee benefit plan, payment or arrangement for such employees or entered into or amended any employment, consulting, severance or similar agreement; L. without limiting the generality of any of the foregoing, entered into any transaction except in the ordinary and usual course of its business and consistent with its past practice; M. agreed to do any of the foregoing; or N. noted any material adverse change in the function or operation of the Personal Property.