Common use of Post-Closing Operation of the Business Clause in Contracts

Post-Closing Operation of the Business. The parties acknowledge that following the Closing, Buyer shall be entitled in its sole discretion to operate the Business of the Company in the manner it determines, subject to obtaining approval of its Board of Directors, when and as necessary without regard to the effect thereof on any Transaction Document. The parties further acknowledge that the Buyer may, in its sole discretion, encumber any of the assets or assign or license any of the Intellectual Property of the Business, without the consent of the Designated Stockholders.

Post-Closing Operation of the Business. The parties acknowledge that following that, subject to the Closingterms provisions hereof and the Studio Agreement, Buyer shall be entitled in its sole discretion to operate the Business of the Company its business in the manner it determines, subject to obtaining approval of its Board of Directors, when and as necessary determines without regard to the effect thereof on any Transaction Documentthe Bonus or this Agreement. The parties further acknowledge that the Buyer may, in its sole discretion, sell, transfer or encumber any of the assets or assign or license any of the Intellectual Property of the Businessits intellectual property, without the consent of the Designated StockholdersMembers.