Post-Closing. (i) Following the Closing Date, Buyer shall, and shall cause the Acquired Companies to, allow Seller, upon one (1) Business Day’s prior written notice and during normal business hours, through its affiliates, employees and representatives, (x) the right to examine and make copies, at Seller’s expense, of the books and records of the Acquired Companies, and (y) reasonable access to Buyer’s and the Acquired Companies’ employees, in the case of either clause (x) or (y), for the preparation and review of the June Financial Statements and any other action or inquiry related to the procedures set forth in Section 1.4, regulatory and statutory filings, earnings releases, statistical supplements, financial statements (including, but not limited to, the timely preparation pursuant to Seller’s then-current schedule and filing of Seller’s current, quarterly and annual reports on Forms 8-K, 10-Q and 10-K for any post-closing period) and the conduct of any third-party litigation. Parent and Buyer shall cause their, and the Acquired Companies’, affiliates, employees and representatives to (A) reasonably cooperate with Seller in connection with the foregoing and (B) under the supervision of Seller, prepare the June Financial Statements, to the extent not yet prepared and finalized as of the Closing Date, in the ordinary course of the performance of their responsibilities. Buyer shall, and shall cause the Acquired Companies to, maintain the books and records of the Acquired Companies for examination and copying by Seller for a period of not less than six (6) years following the Closing Date or any longer period as mandated by applicable Law, after which, Buyer or the Acquired Companies may destroy such records in their sole discretion. Access to such records shall not unreasonably interfere with the business operations of Buyer, any Acquired Company or any of their respective successors. (ii) Following the Closing Date, Seller shall allow Buyer, upon one (1) Business Day’s prior written notice and during normal business hours, through its affiliates, employees and representatives, the right to (x) examine and make copies, at Buyer’s expense, of the books and records of Seller retained by Seller and maintained by Seller after the Closing Date; but only to the extent that such books and records relate to the Acquired Companies; and (y) reasonable access to any of Seller’s employees, in the case of either clause (x) or (y), for the review of the June Financial Statements, and any other action or inquiry related to the procedures set forth in Section 1.4, regulatory and statutory filings, earnings releases, statistical supplements, financial statements and the conduct of any third-party litigation. Seller shall cause its affiliates, employees and representatives to reasonably cooperate with Parent and Buyer in connection with the foregoing. Seller shall maintain such books and records for examination and copying by Buyer for a period of not less than six (6) years following the Closing Date or any longer period as mandated by applicable Law, after which, Seller may destroy such records in its sole discretion. Access to such records shall not unreasonably interfere with the business operations of Seller or any of its successors.
Appears in 2 contracts
Sources: Stock Purchase Agreement (Symetra Financial CORP), Stock Purchase Agreement (Symetra Financial CORP)
Post-Closing. (ia) Following During the Closing Date, Buyer shall, and shall cause thirty-six (36) month period after the Acquired Companies to, allow SellerClosing, upon one (1) Business Day’s prior written notice and during normal business hoursthe reasonable request by Oncor, through its affiliates, employees and representatives, (x) the right to examine and make copies, at Seller’s expense, of the books and records of the Acquired Companies, and (y) reasonable access to Buyer’s and the Acquired Companies’ employees, in the case of either clause (x) or (y), CURRENT shall provide for the preparation and review of the June Financial Statements and any other action or inquiry related to the procedures set forth in Section 1.4, regulatory and statutory filings, earnings releases, statistical supplements, financial statements (including, but not limited toConstructed BPL Network, the timely preparation pursuant to Seller’s then-current schedule Assumed Contracts and filing of Seller’s current, quarterly and annual reports on Forms 8-K, 10-Q and 10-K for any post-closing period) and the conduct of any third-party litigation. Parent and Buyer shall cause theirTransferred Permits, and the Acquired Companies’software that is the subject of the License Agreement, affiliatesany operational information and details, employees construction and representatives to (A) installation information, and equipment and component information reasonably cooperate with Seller required in connection with the foregoing operation and control of the Constructed BPL Network; provided that this Section 1.5(a) is not intended to be a replacement for Training Services set forth on Schedule C to the Sales Agreement.
(b) No later than thirty (30) days after the Closing, any finished goods inventory and additional components (i) that are located outside of the United States shall be delivered by Seller to Buyer in Dallas, Texas, and (Bii) under that are located inside of the supervision United States shall be retrieved by Buyer from Seller. Seller shall pay all customs duties, import taxes and freight for any material not located in the United States on the date of Sellerthis Agreement. Any dollar amount shortfall resulting from a discrepancy between the quantity of the finished goods inventory and additional components described in Schedule C and the actual finished goods inventory and additional components delivered to or retrieved by Buyer shall be payable by Seller upon ten (10) days notice from Buyer.
(c) Each party will pay (and be liable for) its proportionate share of personal property tax attributed to its respective ownership of the Constructed BPL Network in the 2008 calendar year, prepare the June Financial Statements, such share being equivalent to the extent not yet prepared and finalized as percentage that is equal to the number of days it owned the Closing Date, Constructed BPL Network in the ordinary course of the performance of their responsibilities. Buyer shall, and shall cause the Acquired Companies to, maintain the books and records of the Acquired Companies for examination and copying 2008 calendar year divided by Seller for a period of not less than six 366 (6) years following provided that the Closing Date or shall be attributable to the Seller); provided that each party provides the other with a copy of any longer period as mandated by applicable Lawtax invoice for such personal property tax promptly after receiving such invoice; provided, after whichfurther, Buyer or that if either party pays the Acquired Companies may destroy full amount of the personal property tax liability for such records in their sole discretion. Access to such records shall not unreasonably interfere with the business operations of Buyer, any Acquired Company or any of their respective successors.
(ii) Following the Closing Date, Seller shall allow Buyer, upon one (1) Business Day’s prior written notice and during normal business hours, through its affiliates, employees and representativescalendar year, the right other party shall reimburse such party for such amounts paid that are attributable to (x) examine and make copies, at Buyer’s expense, its ownership of the books and records of Seller retained by Seller and maintained by Seller after the Closing Date; but only to the extent that such books and records relate to the Acquired Companies; and (y) reasonable access to any of Seller’s employees, in the case of either clause (x) or (y), for the review of the June Financial Statements, and any other action or inquiry related to the procedures set forth in Section 1.4, regulatory and statutory filings, earnings releases, statistical supplements, financial statements and the conduct of any third-party litigation. Seller shall cause its affiliates, employees and representatives to reasonably cooperate with Parent and Buyer in connection with the foregoing. Seller shall maintain such books and records for examination and copying by Buyer for a period of not less than six (6) years following the Closing Date or any longer period as mandated by applicable Law, after which, Seller may destroy such records in its sole discretion. Access to such records shall not unreasonably interfere with the business operations of Seller or any of its successorsConstructed BPL Network.
Appears in 2 contracts
Sources: Purchase and Sale Agreement, Purchase and Sale Agreement (Oncor Electric Delivery Co LLC)
Post-Closing. In the event Magellan, any Subco, or any other subsidiary of Magellan other than Green Spring at any time or from time to time from and after Closing desires to acquire any New Facilities, which Magellan or such subsidiary intends to own and/or operate in a manner substantially similar to the Facilities, the Purchaser shall have a right of first refusal to acquire such New Facility upon the terms and conditions hereinafter set forth. The Purchaser shall have thirty (i30) Following days after receipt from Magellan of a copy of an executed letter of intent with a seller of any such New Facility to notify Magellan of its election to exercise such right of first refusal. The Purchaser's failure so to notify Magellan shall be deemed to be a waiver of the Closing Date, Buyer shall, and shall cause the Acquired Companies to, allow Seller, upon one (1) Business Day’s prior written notice and during normal business hours, through its affiliates, employees and representatives, (x) the Purchaser's right to examine and make copiesexercise its right of first refusal with respect to the New Facility that was the subject of Magellan's notice; however, at Seller’s expense, the Purchaser's failure so to notify Magellan shall not be deemed to be a waiver of any of the books and records Purchaser's rights or remedies under the noncompetition or other provisions of the Acquired CompaniesTransaction Documents or a waiver of its rights with respect to any future New Facility. If the Purchaser elects not to exercise such right of first refusal, Magellan may close and (y) reasonable access to Buyer’s and consummate such transaction on substantially the Acquired Companies’ employees, terms as set forth in the case letter of either clause intent, subject to compliance with the applicable provisions of the other Transaction Documents. If Magellan acquires any such New Facility, then simultaneously with closing of such acquisition Magellan shall enter into a management agreement with OpCo covering such New Facility, pursuant to which OpCo shall manage and operate such New Facility in exchange for payment by Magellan to OpCo of OpCo's costs plus a fair market value management fee. Magellan shall negotiate such management fee with OpCo in good faith. If Magellan and OpCo are unable to agree upon a fair market value management fee, then such dispute shall be resolved by appraisal in the manner provided for determining the Fair Market Value of the Franchise (x) or (yas such terms are defined in the Franchise Agreement), for the preparation and review of the June Financial Statements and any other action or inquiry related to the procedures as set forth in Section 1.44.4 of the Franchise Agreement, regulatory and statutory filingsexcept that the term "Qualified Appraiser" used therein, earnings releasesfor purposes of determining a fair market value management fee pursuant to this Section 14.2, statistical supplements, financial statements (including, but not limited toshall have the meaning given such term in Section 14.1(a) hereof. If the Purchaser exercises its right of first refusal, the timely preparation pursuant Purchaser shall be obligated to Seller’s then-current schedule acquire the New Facility on the terms set forth in the letter of intent; provided, however, that the Purchaser's exercise of such right shall be conditioned upon (1) the Purchaser's and filing OpCo's execution at or as of Seller’s currentthe closing of the acquisition of such New Facility of an amendment to the Master Facilities Lease adding such New Facility to the leased premises thereunder and adjusting the rent payable thereunder appropriately (with the rent payable for such New Facility to be determined on the same basis as the rent payable for the Facilities during the initial Lease Year, quarterly and annual reports as defined in the Facilities Lease, escalating on Forms 8-K, 10-Q and 10-K the same basis as the rent payable for any post-closing period) and the conduct of any third-party litigation. Parent and Buyer shall cause theirFacilities), and (2) Magellan's and OpCo's execution at or as of the Acquired Companies’, affiliates, employees and representatives to closing of the acquisition of such New Facility of (A) reasonably cooperate with Seller in connection an amendment to the Master Franchise Agreement adding such New Facility to the facilities covered thereby and adjusting the franchise fee payable thereunder appropriately (with the foregoing franchise fee payable for such New Facility to be determined on the same basis as the franchise fee payable for the Facilities during the first and second Contract Years (as defined in the Franchise Agreement), escalating on the same basis as the franchise fee payable for the Facilities), and (B) under a Subsidiary Franchise Agreement covering such New Facility, upon substantially the supervision same terms and conditions as the Subsidiary Franchise Agreement covering each of Seller, prepare the June Financial Statements, other Facilities. Notwithstanding anything set forth in this Agreement to the extent not yet prepared and finalized as contrary, the provisions of the this Section 14.2 shall survive Closing Date, in the ordinary course of the performance of their responsibilities. Buyer shall, and shall cause the Acquired Companies to, maintain the books and records of the Acquired Companies for examination and copying by Seller for a period of not less than six (6) years following equal to the Closing Date or any longer period as mandated by applicable Law, after which, Buyer or the Acquired Companies may destroy such records in their sole discretion. Access to such records shall not unreasonably interfere with the business operations of Buyer, any Acquired Company or any of their respective successors.
(ii) Following the Closing Date, Seller shall allow Buyer, upon one (1) Business Day’s prior written notice and during normal business hours, through its affiliates, employees and representatives, the right to (x) examine and make copies, at Buyer’s expense, term of the books Facilities Lease, including all extensions and records of Seller retained by Seller and maintained by Seller after the Closing Date; but only to the extent that such books and records relate to the Acquired Companies; and (y) reasonable access to any of Seller’s employees, in the case of either clause (x) or (y), for the review of the June Financial Statements, and any other action or inquiry related to the procedures set forth in Section 1.4, regulatory and statutory filings, earnings releases, statistical supplements, financial statements and the conduct of any third-party litigation. Seller shall cause its affiliates, employees and representatives to reasonably cooperate with Parent and Buyer in connection with the foregoing. Seller shall maintain such books and records for examination and copying by Buyer for a period of not less than six (6) years following the Closing Date or any longer period as mandated by applicable Law, after which, Seller may destroy such records in its sole discretion. Access to such records shall not unreasonably interfere with the business operations of Seller or any of its successorsrenewals thereof.
Appears in 2 contracts
Sources: Real Estate Purchase and Sale Agreement (Crescent Real Estate Equities Inc), Real Estate Purchase and Sale Agreement (Crescent Real Estate Equities Inc)
Post-Closing. (i) Following the Closing Date, Buyer shall, and shall cause the Acquired Companies to, allow Seller, upon one (1) Business Day’s 's prior written notice and during normal business hours, through its affiliates, employees and representatives, (x) the right to examine and make copies, at Seller’s 's expense, of the books and records of the Acquired Companies, and (y) reasonable access to Buyer’s 's and the Acquired Companies’ ' employees, in the case of either clause (x) or (y), for the preparation and review of the June Financial Statements and any other action or inquiry related to the procedures set forth in Section 1.4, regulatory and statutory filings, earnings releases, statistical supplements, financial statements (including, but not limited to, the timely preparation pursuant to Seller’s 's then-current schedule and filing of Seller’s 's current, quarterly and annual reports on Forms 8-K, 10-Q and 10-K for any post-closing period) and the conduct of any third-party litigation. Parent and Buyer shall cause their, and the Acquired Companies’', affiliates, employees and representatives to (A) reasonably cooperate with Seller in connection with the foregoing and (B) under the supervision of Seller, prepare the June Financial Statements, to the extent not yet prepared and finalized as of the Closing Date, in the ordinary course of the performance of their responsibilities. Buyer shall, and shall cause the Acquired Companies to, maintain the books and records of the Acquired Companies for examination and copying by Seller for a period of not less than six (6) years following the Closing Date or any longer period as mandated by applicable Law, after which, Buyer or the Acquired Companies may destroy such records in their sole discretion. Access to such records shall not unreasonably interfere with the business operations of Buyer, any Acquired Company or any of their respective successors.
(ii) Following the Closing Date, Seller shall allow Buyer, upon one (1) Business Day’s 's prior written notice and during normal business hours, through its affiliates, employees and representatives, the right to (x) examine and make copies, at Buyer’s 's expense, of the books and records of Seller retained by Seller and maintained by Seller after the Closing Date; but only to the extent that such books and records relate to the Acquired Companies; and (y) reasonable access to any of Seller’s 's employees, in the case of either clause (x) or (y), for the review of the June Financial Statements, and any other action or inquiry related to the procedures set forth in Section 1.4, regulatory and statutory filings, earnings releases, statistical supplements, financial statements and the conduct of any third-party litigation. Seller shall cause its affiliates, employees and representatives to reasonably cooperate with Parent and Buyer in connection with the foregoing. Seller shall maintain such books and records for examination and copying by Buyer for a period of not less than six (6) years following the Closing Date or any longer period as mandated by applicable Law, after which, Seller may destroy such records in its sole discretion. Access to such records shall not unreasonably interfere with the business operations of Seller or any of its successors.
Appears in 2 contracts
Sources: Stock Purchase Agreement (White Mountains Insurance Group LTD), Stock Purchase Agreement (Safeco Corp)
Post-Closing. On the Original Financing Statement Termination Date, the First Lien Administrative Agent will terminate the Original Financing Statement. or indemnification or otherwise (including any post-petition interest, whether or not allowed or allowable in any insolvency proceeding) and any refinancings, substitutions, extensions or replacements thereof. The aggregate amount of the First Lien Obligations shall be increased by each protective advance and any DIP Loan (“Protective/DIP Advances”) made by any First Lien Claimholder without notice to or consent by the Second Lien Claimholders, provided that the aggregate principal amount of such additional protective advances and DIP Loans shall in no event exceed $75,000,000 at any time outstanding (the “Maximum Additional First Lien Indebtedness Amount”). For the avoidance of doubt, (i) Following the principal amount of any loans under the Term Loan Facility constituting First Lien Obligations shall be reduced by the aggregate amount of all repayments or prepayments of principal of such loans made under the Term Loan Facility on the Closing DateDate (subject, Buyer shallat all times, to any increases in principal amount resulting from any Protective/DIP Advances in an amount not to exceed the Maximum Additional First Lien Indebtedness) and (ii) the First Lien Obligations shall cause the Acquired Companies to, allow Seller, upon one (1) Business Day’s prior written notice and during normal business hours, through its affiliates, employees and representatives, not include (x) the right aggregate amount of any amendment to examine and make copies, at Seller’s expense, increase the “applicable margin” or similar component of interest rate under any of the books and records of documents after the Acquired Companies, and Closing Date related to the First Lien Credit Facility that exceeds 3.00% per annum (y) reasonable access to Buyer’s and the Acquired Companies’ employees, in the case of either clause (x“First Lien Debt Margin Cap”) or (y), for the preparation and review ) any prepayment premium or prepayment fee under any of the June Financial Statements and any other action or inquiry documents related to the procedures set forth First Lien Credit Facility in Section 1.4, regulatory and statutory filings, earnings releases, statistical supplements, financial statements excess of the Exit Fee. Second Lien Claimholders: U.S. Bank National Association (including, but not limited to, the timely preparation pursuant to Seller’s then-current schedule and filing of Seller’s current, quarterly and annual reports on Forms 8-K, 10-Q and 10-K for any post-closing period“Second Lien Agent”) and the conduct of any third-purchasers (the “Purchasers” and, collectively with the Second Lien Agent, the “Second Lien Claimholders”) from time to time party litigationto the Note Purchase Agreement, dated August 8, 2014 (as amended, restated, supplemented or otherwise modified from time to time, the “Note Purchase Agreement”). Parent and Buyer shall cause their, The First Lien Claimholders and the Acquired Companies’, affiliates, employees and representatives to (A) reasonably cooperate with Seller in connection with Second Lien Claimholders are the foregoing and (B) under the supervision of Seller, prepare the June Financial Statements, to the extent not yet prepared and finalized as of the Closing Date, in the ordinary course of the performance of their responsibilities. Buyer shall, and shall cause the Acquired Companies to, maintain the books and records of the Acquired Companies for examination and copying by Seller for a period of not less than six (6) years following the Closing Date or any longer period as mandated by applicable Law, after which, Buyer or the Acquired Companies may destroy such records in their sole discretion. Access to such records shall not unreasonably interfere with the business operations of Buyer, any Acquired Company or any of their respective successors“Secured Parties”.
(ii) Following the Closing Date, Seller shall allow Buyer, upon one (1) Business Day’s prior written notice and during normal business hours, through its affiliates, employees and representatives, the right to (x) examine and make copies, at Buyer’s expense, of the books and records of Seller retained by Seller and maintained by Seller after the Closing Date; but only to the extent that such books and records relate to the Acquired Companies; and (y) reasonable access to any of Seller’s employees, in the case of either clause (x) or (y), for the review of the June Financial Statements, and any other action or inquiry related to the procedures set forth in Section 1.4, regulatory and statutory filings, earnings releases, statistical supplements, financial statements and the conduct of any third-party litigation. Seller shall cause its affiliates, employees and representatives to reasonably cooperate with Parent and Buyer in connection with the foregoing. Seller shall maintain such books and records for examination and copying by Buyer for a period of not less than six (6) years following the Closing Date or any longer period as mandated by applicable Law, after which, Seller may destroy such records in its sole discretion. Access to such records shall not unreasonably interfere with the business operations of Seller or any of its successors.
Appears in 1 contract
Post-Closing. The Parties acknowledge that their intent is not to invoice or ▇▇▇▇ the other Party for cash calls or joint interest ▇▇▇▇▇▇▇▇ (i“JIB(s)”) Following with respect to any well proposed to be drilled or well then currently conducting drilling and/or completion operations on the Closing DateSubject Leases. However, Buyer shall, and shall cause the Acquired Companies to, allow Seller, upon one (1) Business Day’s prior written notice and during normal business hours, through its affiliates, employees and representatives, (x) the right to examine and make copies, at Seller’s expense, if an Assignor is assigning a portion of the books Subject Leases to the Assignee for which the Assignor has received revenues and/or made JIB payments and/or payments for drilling, completion or other costs associated with oil and records gas operations involving such portion of the Acquired CompaniesSubject Leases, the following shall apply: To the extent previously paid by Assignor, the Assignee, as applicable, shall refund to the Assignor the sum of all prepayments, cash calls and/or JIB(s), as well as other drilling and completion payments (yherein “Payments”) reasonable access to Buyer’s and the Acquired Companies’ employeesmade, net of all revenues received, in connection with such portion of the case of either clause Subject Leases as to periods subsequent to the Effective Date. Notwithstanding the foregoing, the Parties shall not be required to refund any prepayments, cash calls or other payments (xor revenues) with respect to that Party’s interest in and to the Excluded Wellbores or (y)the Excluded Assets; provided, however, for the preparation avoidance of doubt, that income, franchise, and review similar Taxes of Assignor shall not be borne by Assignee. The Parties agree that the intent of this procedure (as practically as possible) is to “undo” the direct cash flows for periods subsequent to the Effective Date, which the Assignor incurred as a result of participating as a working interest owner in operations involving the Subject Leases assigned to the Assignee at Closing, unless such direct cash flows are with respect to the relevant Party’s interest in and to the Excluded Wellbores or the Excluded Assets. Any and all payments or refunds due to a Party hereunder shall be paid within one hundred and fifty (150) days of the June Financial Statements date of execution and any other action or inquiry related delivery of the Assignments described in Paragraph 3.4 herein by wire transfer of certified funds: Except as otherwise provided in this Agreement, all costs, expenses, disbursements, and obligations attributable to the procedures set forth in Section 1.4, regulatory and statutory filings, earnings releases, statistical supplements, financial statements (including, but not limited to, Subject Leases for periods of time prior to the timely preparation pursuant to Seller’s then-current schedule and filing Effective Date shall be the obligation of Seller’s current, quarterly and annual reports on Forms 8-K, 10-Q and 10-K for any post-closing period) and the conduct of any third-party litigation. Parent and Buyer shall cause theirapplicable Assignor, and such Assignor shall promptly pay, or if paid by Assignee, promptly reimburse Assignee for and hold Assignee harmless from and against same under the Acquired Companies’Closing Settlement Statement and Post-Closing Settlement Statement mechanism below. At least five (5) business days prior to Closing, affiliates___________ shall provide ___________ with a closing settlement statement covering all adjustments, employees without duplication, to be made at Closing under this transaction in substantially the same form and representatives content as Exhibit “F” (the “Closing Settlement Statement”). To the extent available, actual numbers shall be used. If not available, ___________ shall use reasonable and good faith estimates of the same, which estimates shall be adjusted to (A) reasonably cooperate with Seller take into account actual numbers in connection with the foregoing Closing Settlement Statement. ___________ may then respond with any comments within two (2) business days prior to Closing; provided, however, that failure to dispute or revise any adjustment shall not waive or otherwise preclude ___________ from commenting on such adjustments in the Post-Closing Settlement Statement. In preparing the Closing Settlement Statement, ___________ and ___________ shall have no obligation to make an accrual for revenues not received as of Closing. Within ninety (B90) under the supervision of Sellerdays after Closing, prepare the June Financial Statements___________ shall provide ___________ with a settlement statement covering all adjustments, without duplication, to the extent not yet prepared and finalized as of the Closing Datebe made pursuant to this Agreement, in substantially the ordinary course of same form and content as Exhibit “G” (the performance of their responsibilities“Post-Closing Settlement Statement”). Buyer shall, ___________ shall have thirty (30) days to review and provide comments on the Post-Closing Settlement Statement. The Parties shall cause then agree upon the Acquired Companies to, maintain the books and records of the Acquired Companies for examination and copying Post-Closing Settlement Statement within sixty (60) days from receipt by Seller for a period of not less than six (6) years following the Closing Date or any longer period as mandated by applicable Law, after which, Buyer or the Acquired Companies may destroy such records in their sole discretion___________. Access to such records shall not unreasonably interfere with the business operations of Buyer, any Acquired Company or any of their respective successors.
(ii) Following the Closing Date, Seller shall allow Buyer, upon one (1) Business Day’s prior written notice and during normal business hours, through its affiliates, employees and representatives, the right to (x) examine and make copies, at Buyer’s expense, of the books and records of Seller retained by Seller and maintained by Seller after the Closing Date; but only to To the extent that no post-closing adjustment is necessary, ___________ may notify ___________ of such books in writing within ninety (90) days after Closing, and records relate ___________ shall have thirty (30) days to the Acquired Companies; and respond with its own Post-Closing Settlement Statement (y) reasonable access to any of Seller’s employees, in the case of either clause event that ___________ does not agree that a Post-Closing Settlement Statement is not necessary). The Parties shall then negotiate in good faith in an attempt to agree upon a mutually acceptable Post-Closing Settlement Statement within sixty (x60) or (y), for the review of the June Financial Statements, and any other action or inquiry related days from ___________’s notice to the procedures set forth in Section 1.4, regulatory and statutory filings, earnings releases, statistical supplements, financial statements and the conduct of any third-party litigation. Seller shall cause its affiliates, employees and representatives to reasonably cooperate with Parent and Buyer in connection with the foregoing. Seller shall maintain such books and records for examination and copying by Buyer for a period of not less than six (6) years following the Closing Date or any longer period as mandated by applicable Law, after which, Seller may destroy such records in its sole discretion. Access to such records shall not unreasonably interfere with the business operations of Seller or any of its successors___________.
Appears in 1 contract
Sources: Lease Exchange Agreement
Post-Closing. (i) Following Sellers jointly and severally covenant and agree that, after the Closing Date, Buyer shalleach will:
(a) At no cost to Sellers, reasonably cooperate with Purchaser if Purchaser is required to include audited financial statements with respect to the Facilities in its filings with the Securities and shall cause the Acquired Companies toExchange Commission;
(b) Take such actions and properly execute and deliver to Purchaser such further instruments of assignment, allow Seller, upon one (1) Business Day’s prior written notice conveyance and during normal business hours, through its affiliates, employees and representatives, (x) the right to examine and make copies, at Seller’s expense, of the books and records of the Acquired Companies, and (y) reasonable access to Buyer’s and the Acquired Companies’ employeestransfer as, in the case reasonable opinion of either clause counsel for Purchaser and Sellers, reasonably may be necessary to assure, complete and evidence the transfer and conveyance of Sellers’ Assets as contemplated by this Agreement;
(xc) or (y), File the annual cost reports for the preparation and review of Facilities currently within the June Financial Statements periods required by Medicare, Medicaid and any other action or inquiry related third party payor and provide any additional documentation to support the amounts claimed under such cost reports within such time periods;
(d) With respect to the procedures set forth P▇▇▇▇▇▇▇ Facility, during the period commencing on the Closing Date and ending on the P▇▇▇▇▇▇▇ Closing Date:
(i) Sellers will operate the P▇▇▇▇▇▇▇ Facility only in Section 1.4, regulatory the ordinary course and statutory filings, earnings releases, statistical supplements, financial statements (including, but not limited to, with due regard to the timely preparation pursuant proper maintenance and repair of the Real Property and Personal Property relating to Seller’s then-current schedule and filing of Seller’s current, quarterly and annual reports on Forms 8-K, 10-Q and 10-K for any post-closing period) and the conduct of any third-party litigation. Parent and Buyer shall cause their, and the Acquired Companies’, affiliates, employees and representatives to (A) reasonably cooperate with Seller in connection with the foregoing and (B) under the supervision of Seller, prepare the June Financial StatementsP▇▇▇▇▇▇▇ Facility, to the extent not yet prepared end that the P▇▇▇▇▇▇▇ Facility and finalized related Personal Property will be maintained substantially in the same condition as of they were in at the Closing Date, ordinary wear and tear, insured casualty loss and taking by eminent domain excepted;
(ii) Sellers will not (i) make any material change in the operation of the P▇▇▇▇▇▇▇ Facility, (ii) sell or agree to sell any items of machinery, equipment or other fixed assets of the P▇▇▇▇▇▇▇ Facility or (iii) otherwise enter into any agreements materially affecting the P▇▇▇▇▇▇▇ Facility, except in each case in the ordinary course of business;
(iii) Sellers will maintain in force the performance existing insurance coverage or comparable insurance coverage with respect to the P▇▇▇▇▇▇▇ Facility owned by it;
(iv) Sellers will not, except in the ordinary course of their responsibilities. Buyer shallbusiness, and shall cause (i) enter into any lease, tenancy, contract or other commitment affecting the Acquired Companies to, maintain the books and records of the Acquired Companies for examination and copying by Seller for a period of not less than six (6) years following the Closing Date P▇▇▇▇▇▇▇ Facility or any longer period as mandated by applicable Law, after which, Buyer or the Acquired Companies may destroy such records in their sole discretion. Access to such records shall not unreasonably interfere with the business operations of Buyer, any Acquired Company or any of their respective successors.
(ii) Following incur any additional indebtedness or amend, extend or renew any current debt instruments, whether in the Closing Dateordinary course of business or otherwise, Seller shall allow Buyerunless neither Purchaser nor the P▇▇▇▇▇▇▇ Facility is, upon one following the P▇▇▇▇▇▇▇ Closing, obligated for, or encumbered by, any such indebtedness or debt instruments;
(1v) Business Day’s prior written notice Sellers will file all returns, reports and during normal business hoursfilings of any kind or nature, through its affiliateswith respect to the P▇▇▇▇▇▇▇ Facility, employees or will secure timely extensions for the filing thereof, required to be filed by Sellers, including state and representativesfederal tax returns and Medicare and Medicaid cost reports, the right to (x) examine and make copieswill timely pay all taxes or other obligations that are due and payable with respect thereto, at Buyer’s expense, of the books and records of Seller retained by Seller and maintained by Seller after the Closing Date; but only except to the extent that the same are being duly contested in good faith in accordance with applicable law and such books contest does not materially affect Sellers or the P▇▇▇▇▇▇▇ Facility;
(vi) Sellers will operate the P▇▇▇▇▇▇▇ Facility in compliance with all applicable municipal, county, state and records relate federal laws, regulations, ordinances and orders as now in effect (including all applicable building, zoning and life safety codes with respect thereto) where the failure to comply therewith would have a material adverse effect on the business, property, condition (financial or otherwise) or operation thereof, as presently operated;
(vii) Sellers will take all reasonable action to achieve compliance with any laws, regulations, ordinances, standards and orders applicable to the Acquired CompaniesP▇▇▇▇▇▇▇ Facility that are enacted or issued after Closing Date and prior to the P▇▇▇▇▇▇▇ Closing where the failure to comply therewith would have a material adverse effect on the business, property, condition (financial or otherwise) or operation thereof, as presently operated; and (y) reasonable access to any provided, that Purchaser acknowledges that a number of Seller’s employees, items requiring correction identified in the case of either clause (x) or (y), for the review October P▇▇▇▇▇▇▇ Clinical Survey have not been corrected as of the June Financial Statements, date of this Agreement;
(viii) Sellers will pay as and any other action or inquiry when due the accounts payable related to the procedures set forth P▇▇▇▇▇▇▇ Facility that arise in Section 1.4the ordinary course of business, regulatory except to the extent that the amount owing is being duly contested by Sellers and statutory filingssuch contest does not materially affect Sellers or the P▇▇▇▇▇▇▇ Facility;
(e) Act in good faith and use its commercially reasonable best efforts to (i) acquire all governmental licenses, earnings releasesapprovals and permits as are necessary to enable Purchaser to lawfully own and P▇▇▇▇▇▇▇ Seller to lawfully operate the P▇▇▇▇▇▇▇ Facility from and after the P▇▇▇▇▇▇▇ Closing Date and (ii) satisfy any and all conditions to the effectiveness thereof; and
(f) Refrain from taking any action that is inconsistent with their obligations under this Agreement or that could hinder or delay the P▇▇▇▇▇▇▇ Closing or that would cause any representation, statistical supplementswarranty or covenant made by Sellers in this Agreement or in any certificate, financial statements and the conduct of any third-party litigation. Seller shall cause its affiliateslist, employees and representatives exhibit, or other instrument furnished or to reasonably cooperate with Parent and Buyer be furnished pursuant hereto, or in connection with the foregoing. Seller shall maintain such books transaction contemplated hereby, to be untrue in any material respect as of the P▇▇▇▇▇▇▇ Closing Date; and
(g) Sellers and records for examination and copying by Buyer for a period of not less than six (6) years following the Closing Date any officer, director, employee, advisor or any longer period as mandated by applicable Law, after which, Seller may destroy such records in its sole discretion. Access others authorized to such records shall not unreasonably interfere with the business operations of Seller or act on any of their behalf (i) will not, directly or indirectly, initiate, solicit, authorize or encourage discussions relating to any P▇▇▇▇▇▇▇ Acquisition Proposal; (ii) will not participate in negotiations in connection with or in furtherance of any P▇▇▇▇▇▇▇ Acquisition Proposal or permit any person other than Purchaser and its successorsrepresentatives to have any access to the P▇▇▇▇▇▇▇ Facility, or furnish to any person other than Purchaser and its representatives any non-public information with respect to the P▇▇▇▇▇▇▇ Facility; (iii) will immediately cease and cause to be terminated any existing activities, discussions or negotiations with any parties, other than Purchaser, conducted on or before the date of this Agreement with respect to any P▇▇▇▇▇▇▇ Acquisition Proposal; and (iv) will immediately provide to Purchaser written notice of any P▇▇▇▇▇▇▇ Acquisition Proposal, including the name of the party seeking to initiate, continue or renew activities, discussions or negotiations regarding an P▇▇▇▇▇▇▇ Acquisition Proposal; and
(h) Sellers shall cause the Deferred Maintenance Items and the Environmental Issues to be performed, completed or resolved on or before October 31, 2005. Sellers shall provide Purchaser with written certification of completion of such Deferred Maintenance Items and Environmental Issues on or before October 31, 2005.
Appears in 1 contract
Sources: Purchase Agreement (Omega Healthcare Investors Inc)
Post-Closing. If a claimed Defect has not been cured, waived by BUYER or the affected Property withdrawn by SELLER prior to Closing, SELLER, at its election made at least two (2) business days prior to Closing by giving notice of such election to BUYER, shall have ninety (90) days after the Closing Date (the "Cure Period") within which to cure to the reasonable satisfaction of BUYER such Defect. If SELLER elects to cure such Defect after Closing, BUYER shall deposit into an escrow account, mutually agreed upon, a sum equal to the lesser of the Allocated Value of the Property affected by the claimed Defect, or BUYER's good faith estimate of the Defect amount, and such amount shall be deducted from the amount of the Purchase Price paid to SELLER at Closing and the affected Property shall be assigned to BUYER at Closing. If such claimed Defects are cured, to the reasonable satisfaction of BUYER, or if they are waived by BUYER, on or before the expiration of such ninety (90) day period, the Defect amount shall be deemed to be zero and BUYER and SELLER shall jointly instruct the escrow agent, mutually agreed upon, to distribute to SELLER the Defect amount attributable to the claimed Defects so cured or waived, plus all interest earned thereon, and SELLER shall have no further liability to BUYER with respect thereto. If BUYER does not waive such claimed Defect and SELLER is unable to cure the claimed Defect to BUYER's reasonable satisfaction, within ninety (90) days after Closing, SELLER may either (i) Following in writing elect to withdraw the Closing Date, Buyer shall, affected Property(ies) from this Agreement and BUYER shall cause the Acquired Companies to, allow Seller, upon one (1) Business Day’s prior written notice and during normal business hours, through its affiliates, employees and representatives, (x) the right reconvey to examine and make copies, at Seller’s expense, of the books and records of the Acquired Companies, and (y) reasonable access to Buyer’s and the Acquired Companies’ employees, in the case of either clause (x) or (y), for the preparation and review of the June Financial Statements and any other action or inquiry related to the procedures set forth in Section 1.4, regulatory and statutory filings, earnings releases, statistical supplements, financial statements (including, but not limited to, the timely preparation pursuant to Seller’s then-current schedule and filing of Seller’s current, quarterly and annual reports on Forms 8-K, 10-Q and 10-K for any post-closing periodSELLER such Property(ies) and the conduct of any third-party litigation. Parent BUYER and Buyer SELLER shall cause theirjointly instruct the escrow agent to distribute to BUYER the escrow amount for such Property(ies) and SELLER shall pay to BUYER the difference, if any, between the escrow amount and the Allocated Value for such Property(ies); or (ii) if SELLER fails to elect to withdraw the affected Property(ies), the claimed Defect will be deemed to be accepted by SELLER, the Purchase Price will be adjusted by the finally determined Defect amount, and the Acquired Companies’BUYER and SELLER shall jointly instruct the escrow agent to distribute to BUYER the finally determined Defect amount, affiliates, employees and representatives to (A) reasonably cooperate with Seller in connection with plus the foregoing and (B) under the supervision of Seller, prepare the June Financial Statements, to the extent not yet prepared and finalized as of the Closing Date, in the ordinary course of the performance of their responsibilities. Buyer shall, and shall cause the Acquired Companies to, maintain the books and records of the Acquired Companies for examination and copying by Seller for a period of not less than six (6) years following the Closing Date or any longer period as mandated by applicable Law, after which, Buyer or the Acquired Companies may destroy such records in their sole discretion. Access to such records shall not unreasonably interfere with the business operations of Buyer, any Acquired Company or any of their respective successors.
(ii) Following the Closing Date, Seller shall allow Buyer, upon one (1) Business Day’s prior written notice and during normal business hours, through its affiliates, employees and representatives, the right to (x) examine and make copies, at Buyer’s expense, of the books and records of Seller retained by Seller and maintained by Seller after the Closing Date; but only to the extent that such books and records relate to the Acquired Companies; and (y) reasonable access to any of Seller’s employees, in the case of either clause (x) or (y), for the review of the June Financial Statements, and any other action or inquiry related to the procedures set forth in Section 1.4, regulatory and statutory filings, earnings releases, statistical supplements, financial statements and the conduct of any third-party litigation. Seller shall cause its affiliates, employees and representatives to reasonably cooperate with Parent and Buyer in connection with the foregoing. Seller shall maintain such books and records for examination and copying by Buyer for a period of not less than six (6) years following the Closing Date or any longer period as mandated by applicable Law, after which, Seller may destroy such records in its sole discretion. Access to such records shall not unreasonably interfere with the business operations of Seller or any of its successors.interest thereon;
Appears in 1 contract
Post-Closing. (a) Sellers will be obligated to buy clocks from the Buyer as its prime and exclusive vendor of supply as long as the cost, features, functionality and payment terms are competitive with American or European Manufacturers (excluding FedEx Orders as indicated at Section 7.2(b) below).
(b) Sellers will buy from Buyer the TA7700 color display, as currently configured exclusive of RSI handpunch component), for FedEx orders. Buyer agrees to sell for these orders only at a fixed special price of $2,000 per unit for the period starting at the Closing and ending at May 31, 2008. The parties acknowledge and agree that no royalties shall be payable by Buyer with respect to such sales.
(c) As promptly as possible following the Closing, Sellers will change after the Closing, but not later than 90 days following the Closing, the names of the companies of the Sellers T.A Nevada and T.A Arizona, that it will not include the words: “Time” and/or “America” (hereinafter the “Words”) and any rephrasing of the words. Notwithstanding the foregoing, Sellers may continue to use the name NETtime.
(d) Sellers agree to rent to Buyer a part of Sellers’ premises in the current Sellers facility located in Scottsdale, Arizona by its size needed. Buyer shall pay to Seller a monthly amount for such space based on a rate equal to U.S. $22.50 per square feet for a year. This rental fee will include using all the facilities at Sellers premises including: electricity, air-conditioning, telephone and internet access, computers, programs etc., (hereinafter the “rental fee” or the “rental”). The first two months of the rental period shall be provided by Sellers be free of charge. The rental period will start at the Closing, and Buyer will have to give 45 days advance notice to Sellers in order to terminate the rental period, provided that the end of the rental period shall be no longer than May 1, 2007. During the period contemplated by this subparagraph (d), each Party agrees to be liable for any and all damages to a Party’s tangible assets caused by the other Party’s employee. Buyer agrees to reimburse Sellers for any assets used by Buyer and not covered by this paragraph during the period set forth in this subparagraph (d), at Sellers’ cost (i.e., paper, soda, etc.).
(e) Sellers agree to provide Buyer with the Hosting Facilities for a period of six months after the Closing at a cost of U.S. $2,000 per month. After six months such cost shall be subject to renegotiation by the Parties, provided, however, Sellers shall be under no obligation to continue to provide such services. Upon the expiration of such six month period, Sellers shall transfer to Buyer all employee data relating to the resellers listed on Exhibit A. During such six-month period Sellers shall provide administrative access as reasonably required by Buyer for the purpose of providing billing NETtime reseller clients.
(f) Sellers agree to provide the following support and training services following the Closing:
(i) At Buyer’s request, Sellers shall make an employee knowledgeable with the TA7000 product available to Buyer in Arizona for a period of two weeks for the purpose of providing knowledge transfer and training to Buyer’s employee with respect to the Java program for the TA7000 product.
(ii) For a period of three months following the Closing, Sellers shall provide support for the TA7000 products. Such support may be provided by telephone, email or in-person in Seller’s offices in Scottsdale, Arizona.
(iii) For a period equal to the earlier of 12 months following the Closing or such time Buyer has altered the source code of NETtime, Sellers shall provide 2nd tier support for the NETtime products including new releases and documentation of the software as provided from time to time by Sellers. Such 2nd tier support may be provided by telephone, email or in-person in Seller’s offices in Scottsdale, Arizona. Such 2nd tier support shall consist of providing releases through Sellers normal release process and shall be provided by Sellers employees to Buyer employees and shall not include end-users of Buyer..
(iv) Sellers agree to provide Buyer’s personnel with initial training in order to educate Buyer with respect to the NETtime product. Such training shall be conducted at Sellers’ Scottsdale, Arizona offices for a period of two weeks.
(v) For a period of three months following the Closing, Sellers shall provide employee to employee 2nd tier support for the NETtime products. Such 2nd tier support may be provided by telephone and email.
(g) The Buyer will pay a payment of quarterly royalties to Sellers for the first four (4) years after the Closing (hereinafter the “Royalties Period”) equal to 5% of the revenue (exclusive of returns, and FedEx revenue) derived from the sale by Buyer of the TA7000 in the U.S., excluding sales to Buyer’s U.S. clients. Attached as Exhibit O to this Agreement is a list of Buyer’s U.S. clients.
(h) For a period of 12 months following the Closing, the Parties agree not to solicit or hire any employee of the other party without such Party’s prior written consent. An employee terminated by a Party shall not be subject to this nonsolicitation provision.
(i) Following the Closing DateClosing, Buyer shall, and shall cause the Acquired Companies to, allow Seller, upon one (1) Business Day’s prior written notice Sellers agree not to sell its time and during normal business hoursattendance products to the reseller accounts listed on Exhibit A to this Agreement, through and (2) Buyer agrees not to sell any of its affiliatestime and attendance products to any direct or end user accounts of Sellers listed on Exhibit D to this Agreement as long as Sellers will sell to direct accounts only products of the Buyer, employees and representatives, subject to the exception set forth in subparagraph (xj) immediately below. Each Party agrees that the other Party shall have the right to examine and make copies, at Seller’s expense, enforce its rights under this subparagraph (i) in a New York court of the books and records of the Acquired Companies, and (y) reasonable access to Buyer’s and the Acquired Companies’ employees, in the case of either clause (x) or (y), for the preparation and review of the June Financial Statements and any other action or inquiry related to the procedures set forth in Section 1.4, regulatory and statutory filings, earnings releases, statistical supplements, financial statements (including, but not limited to, the timely preparation pursuant to Seller’s then-current schedule and filing of Seller’s current, quarterly and annual reports on Forms 8-K, 10-Q and 10-K for any post-closing period) and the conduct of any third-party litigation. Parent and Buyer shall cause their, and the Acquired Companies’, affiliates, employees and representatives to (A) reasonably cooperate with Seller in connection with the foregoing and (B) under the supervision of Seller, prepare the June Financial Statements, to the extent not yet prepared and finalized as of the Closing Date, in the ordinary course of the performance of their responsibilitieslaw having jurisdiction over such matters. Buyer shall, further acknowledges and shall cause the Acquired Companies to, maintain the books and records of the Acquired Companies for examination and copying by Seller agrees that for a period of 90 days following the Closing, Sellers shall have the right to contact such resellers listed on Exhibit A for the sole purpose of collecting any accounts receivable owing to Sellers as of the Closing.
(j) Following the Closing, Sellers agree to purchase Buyer’s products for sale to Sellers direct accounts, provided the cost, features, functionality and payment terms are competitive with American or European manufacturers. For purposes of this Agreement, a product will be deemed competitive with respect to cost if the difference between the cost of such two clocks is five percent (5%) or less. In the event Sellers purchase products from Chinese manufacturers as a result of Buyer not less than six being competitive in terms of cost, features, functionality and payment terms, Buyer’s only remedy is the ability to sell its time and attendance hardware products to the direct and end-user accounts of Sellers listed on Exhibit D. Buyer acknowledges that certain of Sellers’ partners purchase clocks directly from applicable manufacturers and agrees that such purchases shall not be a breach of this Agreement. Buyer further acknowledges that Sellers’ obligation under this subparagraph (6j) years to purchase clocks from Buyer shall not arise until the earlier of sixty (60) days following the Closing Date or any longer period such time as mandated by applicable LawSellers have completed the integration of such clocks with Sellers’ software. If, after whichupon the expiration of such sixty (60) day period, Buyer or has not finished such integration, Sellers may request the extension of such period for an additional thirty (30) day period and such request shall be granted. Such request may be repeated each successive thirty (30) day period until such time as Buyer has finished such integration.
(k) Sellers will receive a 5% discount off of the reseller price list for the resellers in the U.S for the TA7000 series products.
(l) Sellers will transfer to Buyer, and will instruct Laurus Master Funds Ltd. to transfer to Buyer, all receivables related to the Acquired Companies may destroy such records Assets arising after the Closing, that have been received in their sole discretionSellers bank account and/or offices after the Closing Date and are derived from Buyer’s activity arising after the Closing (hereinafter “Buyer’s receivables”). Access The Buyer’s receivables will be transferred to such records the Buyer from the Sellers no later than once-per-week hours from the time it has been received at the Sellers bank account and/or Sellers offices.
(m) Sellers shall not unreasonably interfere with be entitled to change the business operations name of BuyerSellers company to “NETtime Solutions” and Buyer shall have no right whatsoever to use the NETtime name.
(n) Sellers’ liability to Buyer for any Damages arising out of Sellers’ breach of any of its representations, warranties, covenants or other obligations set forth in this Agreement will be as follows:
(i) In case Sellers sell, or cause any third party acting on behalf of Sellers to sell (any kind of sale), any Acquired Company or of the Purchased Assets to any third party after the signing of their respective successorsthis Assets Purchase Agreement, Buyer shall be entitled to seek Damages from Sellers, to be determined by a U.S. court with jurisdiction over such matters. Such Damages shall be unlimited in the amount.
(ii) In case Sellers sell, or cause any third party acting on behalf of Sellers to sell, any of the Purchased Assets related to time and attendance to the Resellers listed in Exhibit A and or to the Buyer clients listed in Exhibit O, Buyer shall be entitled to seek Damages from the Sellers, to be determined by a U.S. court with jurisdiction over such matters. Buyer and Sellers hereby acknowledge and agree that their respective partners and resellers set forth in Exhibits A and D may from time to time compete for the same end user business. Such event shall not constitute a breach by either party of any term of this Agreement.
(iii) In case any of any breach of Sellers representations, warranties or covenants relating to its good title ownership of the following assets: intellectual property rights regarding original software (sources) programs, kernel, of the following Sellers products: GENESIS SQL, GENESIS PRO, TA100, TA100PRO, ▇▇▇▇, ▇▇▇▇▇▇, TA50 PRO and the TA7000 Product Series (“TA7000”) and the associated firm ▇▇▇▇ for all the data collection devices. Buyer shall be entitled to seek Damages from Sellers, to be determined by a U.S. court with jurisdiction over such matters. Such Damages shall not exceed U.S. $1,000,000.
(o) In case of any breach of Sellers representations, warranties or covenants relating to any other restrictions and/or any liens apart the exciting in favor of Laurus Master Fund Ltd. on the Acquired Activity and/or the Purchased Assets, Buyer shall be entitled to seek Damages from Sellers, to be determined by a U.S. court with jurisdiction over such matters. Such Damages shall not exceed U.S. $1,000,000.
(p) Under no circumstances shall Sellers aggregate liability for matters set forth in Section (n)(iii) and (o) exceed U.S. $1,000,000 in the aggregate. Buyer further agrees that it shall not make any claims against the escrow under the Escrow Agreement until such claim amounts exceed U.S. $2,700.
(q) Following the Closing DateClosing, Seller Buyer covenants and agrees that it cannot, directly or indirectly, resell the source code for NETtime versions 5 and 6 to any third party whatsoever. Buyer shall allow Buyer, upon one cease using the NETtime name not later than 90 days following the Closing.
(1r) Business Day’s prior written notice and during normal business hours, through its affiliates, employees and representatives, Following the right to (x) examine and make copiesClosing, at Buyer’s expense, written direction Sellers shall delete all copies of the books source code and records of Seller retained by Seller and maintained by Seller after the Closing Date; but only written documentation relating to the extent that such books and records relate Software described in Section 1(b).
(s) Sellers shall pay to Buyer U.S. $7,500 to an account designated in writing by Buyer.
(t) Attached hereto as Exhibit Q is Buyer’s price listing relating to the Acquired Companies; and (y) reasonable access prices Buyer agrees to any of Sellersell such parts to Sellers solely for Sellers’ FedEx’s employees, in order relating to 355 TA7700 clocks. Such prices to Sellers shall be 35% above the case of either clause (x) or (y), for the review of the June Financial Statements, and any other action or inquiry related to the procedures prices set forth in Section 1.4, regulatory and statutory filings, earnings releases, statistical supplements, financial statements and the conduct of any third-party litigation. Seller shall cause its affiliates, employees and representatives to reasonably cooperate with Parent and Buyer in connection with the foregoing. Seller shall maintain such books and records for examination and copying by Buyer for a period of not less than six (6) years following the Closing Date or any longer period as mandated by applicable Law, after which, Seller may destroy such records in its sole discretion. Access to such records shall not unreasonably interfere with the business operations of Seller or any of its successorsprice list.
Appears in 1 contract
Post-Closing. (i) Following After the Closing, Purchaser shall make good faith efforts to collect all unpaid Rents for any period prior to the Closing Date, Buyer shallprovided that Purchaser shall have no obligation to institute litigation or terminate any Leases (other than the GSA Lease) in connection with any such collections. Without limitation of the foregoing, and shall cause the Acquired Companies to, allow Seller, upon one (1) Business Day’s prior written notice and during normal business hours, through its affiliates, employees and representatives, (x) Seller hereby reserves the right to examine and make copiescollect Delinquent Rents (defined below) after the Closing, at Seller’s expenseincluding the right to file an action for collection (provided that, in connection therewith, Seller shall not terminate any of the books and records Leases or disturb the tenants’ possessory rights thereunder). If with respect to a particular Lease (other than the GSA Lease) there are, as of the Acquired CompaniesClosing, unpaid Rents for the Closing Month or any period prior to the Closing Month (collectively with respect to such Lease, “Delinquent Rents”), then until all of such Delinquent Rents are paid in full, each payment of Rents received by Seller or Purchaser with respect to such Lease shall be applied (A) first, to Delinquent Rents payable for the Closing Month, if any, (B) second, to Rents payable for any period after the Closing Month, and (yC) reasonable access third, the Delinquent Rents payable prior to Buyer’s and the Acquired Companies’ employeesClosing Month. With respect to each particular Lease (other than the GSA Lease), as long as there are Delinquent Rents with respect to such Lease, if Seller or Purchaser receives any payment of Rents with respect to such Lease after the Closing, then each shall retain or pay such amounts (or portions thereof) in order that such payments are applied in the case of either clause (x) or (y), for the preparation and review of the June Financial Statements and any other action or inquiry related to the procedures manner set forth in Section 1.4this subsection (ii), regulatory and statutory filings, earnings releases, statistical supplements, financial statements (including, but not limited to, the timely preparation pursuant to Seller’s then-current schedule and filing of Seller’s current, quarterly and annual reports on Forms 8-K, 10-Q and 10-K for provided that any post-closing period) and the conduct of any third-party litigation. Parent and Buyer shall cause their, and the Acquired Companies’, affiliates, employees and representatives to amounts applied under subsection (A) reasonably cooperate shall be prorated with Seller in connection with respect to Purchaser for the foregoing number of days during the Closing Month from, including and (B) under the supervision of Seller, prepare the June Financial Statements, to the extent not yet prepared and finalized as of after the Closing Date, in the ordinary course of the performance of their responsibilities. Buyer shall, and shall cause the Acquired Companies to, maintain the books and records of the Acquired Companies for examination and copying by with respect to Seller for a period the number of not less than six (6) years following days during the Closing Date or any longer period as mandated by applicable Law, after which, Buyer or the Acquired Companies may destroy such records in their sole discretion. Access to such records shall not unreasonably interfere with the business operations of Buyer, any Acquired Company or any of their respective successors.
(ii) Following Month before the Closing Date, Seller shall allow Buyer, upon one (1) Business Day’s prior written notice and during normal business hours, through its affiliates, employees and representatives, the right to (x) examine and make copies, at Buyer’s expense, of the books and records of Seller retained by Seller and maintained by Seller after the Closing Date; but only to the extent that such books and records relate to the Acquired Companies; and (y) reasonable access to any of Seller’s employees, in the case of either clause (x) or (y), for the review of the June Financial Statements, and any other action or inquiry related to the procedures set forth in Section 1.4, regulatory and statutory filings, earnings releases, statistical supplements, financial statements and the conduct of any third-party litigation. Seller shall cause its affiliates, employees and representatives to reasonably cooperate with Parent and Buyer in connection with the foregoing. Seller shall maintain such books and records for examination and copying by Buyer for a period of not less than six (6) years following the Closing Date or any longer period as mandated by applicable Law, after which, Seller may destroy such records in its sole discretion. Access to such records shall not unreasonably interfere with the business operations of Seller or any of its successors.
Appears in 1 contract
Sources: Real Estate Sale Agreement (Behringer Harvard Opportunity REIT I, Inc.)
Post-Closing. As soon as possible but in any event no later than November 30, 2003, Borrowers shall deliver or caused to be delivered to the Lender the following documents each dated such date and in form and substance satisfactory to the Lender and duly executed by all appropriate parties:
(i) Following An updated machinery and equipment appraisal, conducted by an appraiser satisfactory to the Closing DateLender and at the Borrowers’ sole cost and expense, Buyer shall, which appraisal shall be accompanied by a written report of said appraiser and shall cause the Acquired Companies to, allow Seller, upon one (1) Business Day’s prior written notice and during normal business hours, through its affiliates, employees and representatives, (x) the right to examine and make copies, at Seller’s expense, of the books and records of the Acquired Companies, and (y) reasonable access to Buyer’s and the Acquired Companies’ employees, in the case of either clause (x) identify no issues or (y), for the preparation and review of the June Financial Statements and any other action or inquiry related conditions unacceptable to the procedures set forth Lender in Section 1.4, regulatory and statutory filings, earnings releases, statistical supplements, financial statements (including, but not limited to, the timely preparation pursuant to Seller’s then-current schedule and filing of Seller’s current, quarterly and annual reports on Forms 8-K, 10-Q and 10-K for any post-closing period) and the conduct of any third-party litigation. Parent and Buyer shall cause their, and the Acquired Companies’, affiliates, employees and representatives to (A) reasonably cooperate with Seller in connection with the foregoing and (B) under the supervision of Seller, prepare the June Financial Statements, to the extent not yet prepared and finalized as of the Closing Date, in the ordinary course of the performance of their responsibilities. Buyer shall, and shall cause the Acquired Companies to, maintain the books and records of the Acquired Companies for examination and copying by Seller for a period of not less than six (6) years following the Closing Date or any longer period as mandated by applicable Law, after which, Buyer or the Acquired Companies may destroy such records in their its sole discretion. Access to such records shall not unreasonably interfere with the business operations of Buyer, any Acquired Company or any of their respective successors.;
(ii) Following Evidence that the Closing Date, Seller shall allow Buyer, upon one Lender’s security interest in all of the intellectual property described on Exhibit A attached hereto is properly reflected on the records of the United States Patent and Trademark Office (1) Business Day’s prior written notice and during normal business hours, through its affiliates, employees and representativeswithout limiting the generality of the foregoing, the right Borrowers specifically agree to provide satisfactory evidence that (xA) examine and make copies, at Buyer’s expense, all trademarks whose ownership was previously registered on the records of the books United States Patent and Trademark Office (the “PTO Records”) under the name “Wabash Foods, LLC” have been re-registered on such records under the name “▇▇▇▇▇ Brothers-Bluffton, LLC”, (B) notice of Seller retained by Seller the Lender’s security interest in all such trademarks is properly reflected on the PTO Records, and maintained by Seller after (C) notice of the Closing Date; but only Lender’s security interest in the “Crunch Toons” trademark (or the application therefor) is properly reflected on the PTO Records);
(iii) A certain Landlord’s Waiver relating to the extent that such books Bluffton, IN facility; and
(iv) Such other documents or instruments as the Lender may reasonably require, including, without limitation, (A) evidence of the termination of the UCC filing against PBI in Maricopa County, Arizona showing Norwest Business Credit, Inc. as secured party, (B) evidence of the termination of all UCC filings against Boulder in the states of Arizona and records relate to the Acquired Companies; Colorado showing Boulder Potato Company as secured party, and (yC) reasonable access any other financing statements, terminations, notices or other instruments required by Lender to any evidence or perfect more effectively the security interest of Seller’s employees, Lender in the case of either clause Collateral (x) or (yas that term is defined in the Security Agreement), for the review of the June Financial Statements, and any other action or inquiry related to the procedures set forth in Section 1.4, regulatory and statutory filings, earnings releases, statistical supplements, financial statements and the conduct of any third-party litigation. Seller shall cause its affiliates, employees and representatives to reasonably cooperate with Parent and Buyer in connection with the foregoing. Seller shall maintain such books and records for examination and copying by Buyer for a period of not less than six (6) years following the Closing Date or any longer period as mandated by applicable Law, after which, Seller may destroy such records in its sole discretion. Access to such records shall not unreasonably interfere with the business operations of Seller or any of its successors.
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Post-Closing. (i) Following Sellers and Alterra covenant and agree that, after the Closing Date, Buyer shallthey will:
(a) At no cost to Sellers or Alterra, reasonably cooperate with Purchaser if Purchaser is required to include audited financial statements with respect to the Facilities in its filings with the Securities and shall cause the Acquired Companies toExchange Commission;
(b) Take such actions and properly execute and deliver to Purchaser such further instruments of assignment, allow Seller, upon one (1) Business Day’s prior written notice conveyance and during normal business hours, through its affiliates, employees and representatives, (x) the right to examine and make copies, at Seller’s expense, of the books and records of the Acquired Companies, and (y) reasonable access to Buyer’s and the Acquired Companies’ employeestransfer as, in the case reasonable opinion of either clause counsel for Purchaser and Seller, reasonably may be necessary to assure, complete and evidence the transfer and conveyance of Sellers' Assets as contemplated by this Agreement;
(xc) or (y), File the annual cost reports for the preparation and review of Facilities currently within the June Financial Statements periods required by Medicare, Medicaid and any other action third party payor and provide any additional documentation to support the amounts claimed under such cost reports within such time periods;
(d) Furnish to Purchaser on or inquiry related before July 31, 1999, with respect to the procedures set forth in Section 1.4, regulatory and statutory filings, earnings releases, statistical supplements, financial statements (including, but those Construction Facilities for which a certificate of occupancy has not limited tobeen issued by such date, the timely preparation pursuant to Seller’s then-current schedule and filing written agreements of Seller’s currentthe construction manager or general contractor(s), quarterly and annual reports on Forms 8-K, 10-Q and 10-K for any post-closing period) and as the conduct of any third-party litigation. Parent and Buyer shall cause theircase may be, and the Acquired Companies’architect and/or engineer, affiliateseach in form and substance acceptable to Purchaser, employees that such construction manager, general contractor, architect and/or engineer will, at the request of Purchaser and representatives upon payment of amounts payable under the contract, continue performance of the contract notwithstanding any default of Sellers under such contract and, with respect to the agreement to be executed by the architect and/or engineer, that Purchaser will have the unrestricted use of the Plans and Specifications without additional charge;
(Ae) reasonably cooperate with Seller Within 90 days of Portfolio Stabilization, deliver to Purchaser the Portfolio Stabilization Appraisal;
(f) Furnish to Purchaser on or before July 31, 1999, a final "as built" survey of each Completed Facility prepared and certified in connection accordance with the foregoing and Survey Requirements;
(Bg) under Furnish to Purchaser within 45 days of the supervision Completion Date of Sellereach Construction Facility, prepare a final "as built" survey prepared in accordance with the June Financial Statements, Survey Requirements;
(h) Prior to the extent not yet prepared and finalized as completion of construction of the Closing DateConstruction Facilities, in maintain (or cause Lessee to maintain) the ordinary course Construction Insurance on Construction Facilities; and
(i) Furnish to Purchaser on or before June 30, 1999, the form of Resident Agreement for the Completed Facilities; and
(j) Furnish to Purchaser within 45 days of the performance Completion Date of their responsibilities. Buyer shalleach Construction Facility, and shall cause the Acquired Companies to, maintain form of Resident Agreement for the books and records Completed Facilities; and
(k) Furnish to Purchaser with 60 days of the Acquired Companies for examination and copying by Seller for date of this Agreement a period of not less than six (6) years following the Closing Date or any longer period as mandated by applicable Law, after which, Buyer or the Acquired Companies may destroy such records in their sole discretion. Access to such records shall not unreasonably interfere with the business operations of Buyer, any Acquired Company or any of their respective successors.
(ii) Following the Closing Date, Seller shall allow Buyer, upon one (1) Business Day’s prior written notice and during normal business hours, through its affiliates, employees and representatives, the right to (x) examine and make copies, at Buyer’s expense, copy of the books and records of Seller retained by Seller and maintained by Seller after the Closing Date; but only to the extent that such books and records relate to the Acquired Companies; and (y) reasonable access to any of Seller’s employees, in the case of either clause (x) or (y), for the review of the June Financial Statements, and any other action or inquiry related to the procedures set forth in Section 1.4, regulatory and statutory filings, earnings releases, statistical supplements, financial statements and the conduct of any third-party litigation. Seller shall cause its affiliates, employees and representatives to reasonably cooperate with Parent and Buyer in connection with the foregoing. Seller shall maintain such books and records for examination and copying by Buyer for a period of not less than six (6) years following the Closing Date or any longer period as mandated by applicable Law, after which, Seller may destroy such records in its sole discretion. Access to such records shall not unreasonably interfere with the business operations of Seller or any of its successorsIndiana Facility License.
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Post-Closing. (a) Concurrently with the consummation of the MDA Sale Transactions, the Administrative Agent and the Lenders shall have received a certificate of an Authorized Officer of the Borrower dated as of such date (i) Following certifying that the Closing MDA Sale Transactions were consummated and (ii) attaching true and correct copies of the Definitive Agreements and the MDA Security Documents (other than the MDA Security Agreement).
(b) Concurrently with the consummation of the MDA Sale Transactions, the Borrower shall deliver to the Administrative Agent and Lenders, a pro forma business plan for the next twelve months that (i) has been approved by the Borrower’s Board of Directors, (ii) is consistent with the Borrower’s focus on the core development of Products (as defined in the LOI), and (iii) is reasonably satisfactory to the Lenders.
(c) Within four (4) Business Days of the consummation of the MDA Sale Transactions (i) the SatixFy Share Issuance shall have occurred and (ii) the Borrower shall have delivered a written confirmation to Lenders with respect to tax requirements in connections with the SatixFy Share Issuance, in a form substantially similar to what was delivered on the Effective Date, Buyer shalland the Lenders shall have provided notice, and shall cause which may be by email, to the Acquired Companies to, allow Seller, upon Administrative Agent confirming such issuance.
(d) Within one (1) Business Day’s prior written notice Day after the Amendment Effective Date, Borrower shall have paid in immediately available funds, all reasonable and during normal business hours, through its affiliates, employees documented costs and representatives, (x) the right to examine and make copies, at Seller’s expense, expenses of the books and records of the Acquired Companies, and (y) reasonable access to Buyer’s Administrative Agent and the Acquired Companies’ employees, Lenders party hereto in the case of either clause (x) or (y), for the preparation and review of the June Financial Statements and any other action or inquiry related an amount not to the procedures set forth in Section 1.4, regulatory and statutory filings, earnings releases, statistical supplements, financial statements (including, but not limited to, the timely preparation pursuant to Seller’s then-current schedule and filing of Seller’s current, quarterly and annual reports on Forms 8-K, 10-Q and 10-K for any post-closing period) and the conduct of any third-party litigation. Parent and Buyer shall cause theirexceed $75,000, and the Acquired Companies’reasonable documented fees and disbursements of counsel to the Administrative Agent and the Lenders party hereto, affiliates, employees and representatives to (A) reasonably cooperate with Seller in connection with the foregoing negotiation, preparation, execution and (B) under delivery of this Amendment and any other documents to be delivered in connection herewith on the supervision of Seller, prepare the June Financial Statements, to the extent not yet prepared and finalized as of the Closing Date, in the ordinary course of the performance of their responsibilities. Buyer shall, and shall cause the Acquired Companies to, maintain the books and records of the Acquired Companies for examination and copying by Seller for a period of not less than six (6) years following the Closing Amendment Effective Date or any longer period as mandated by applicable Law, after which, Buyer or the Acquired Companies may destroy such records in their sole discretion. Access to such records shall not unreasonably interfere with the business operations of Buyer, any Acquired Company or any of their respective successorsdate.
(iie) Following the Closing DateBy June 7, Seller shall allow Buyer, upon one (1) Business Day’s prior written notice and during normal business hours, through its affiliates, employees and representatives2023, the right Borrower shall have received the Advance Payment, and delivered a written confirmation to the Lenders (xwhich may be by email) examine and make copies, at Buyer’s expense, of the books and records receipt of Seller retained by Seller and maintained by Seller after the Closing Date; but only such payment.
(f) Notwithstanding anything herein or in any other Loan Document to the extent that such books and records relate contrary, the failure of the Borrower to the Acquired Companies; and (y) reasonable access to satisfy any of Seller’s employees, the obligations in this Section 5 within the case of either clause (x) or (y), for the review of the June Financial Statements, and any other action or inquiry related to the procedures time period set forth herein shall automatically result in Section 1.4, regulatory and statutory filings, earnings releases, statistical supplements, financial statements and the conduct an Event of any third-party litigation. Seller shall cause its affiliates, employees and representatives to reasonably cooperate with Parent and Buyer in connection with the foregoing. Seller shall maintain such books and records for examination and copying by Buyer for a period of not less than six (6) years following the Closing Date or any longer period as mandated by applicable Law, after which, Seller may destroy such records in its sole discretion. Access to such records shall not unreasonably interfere with the business operations of Seller or any of its successorsDefault.
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Post-Closing. (a) Immediately after the Effective Time on the Effective Date, (i) Following the Closing Initial Subsidiary Guarantors will execute and deliver to the Trustee and the Collateral Agent the Effective Date Supplemental Indenture, (ii) the Company and the Initial Subsidiary Guarantors that are Domestic Subsidiaries will execute and deliver to the Collateral Agent the Security Agreement, (iii) the Initial Subsidiary Guarantors that are English Guarantors will execute and deliver to the Collateral Agent the English Debenture, (iv) the English Share Pledge will be executed and delivered to the Collateral Agent, (v) the Company and each Initial Subsidiary Guarantor shall execute and deliver counterparts of the Intercreditor Agreement and a perfection certificate, each dated as of the Effective Date, Buyer shall(vi) copies of proper financing statements, filed or duly prepared for filing under the Uniform Commercial Code in all United States jurisdictions necessary to perfect and shall cause protect the Acquired Companies to, allow Seller, upon one (1) Business Day’s prior written notice and during normal business hours, through its affiliates, employees and representatives, (x) Liens created under the right to examine and make copies, at Seller’s expense, Security Agreement on assets of the books Company and records of each Initial Subsidiary Guarantor that is a Domestic Subsidiary, covering the Acquired Companies, Collateral described in the Security Agreement shall be delivered to the Collateral Agent and (yvii) reasonable access to Buyer’s all other filings and the Acquired Companies’ employees, in the case of either clause (x) or (y), for the preparation and review of the June Financial Statements and any other action or inquiry related to the procedures set forth in Section 1.4, regulatory and statutory filings, earnings releases, statistical supplements, financial statements (including, but not limited to, the timely preparation pursuant to Seller’s then-current schedule and filing of Seller’s current, quarterly and annual reports on Forms 8-K, 10-Q and 10-K for any post-closing period) and the conduct of any third-party litigation. Parent and Buyer shall cause their, and the Acquired Companies’, affiliates, employees and representatives to (A) reasonably cooperate with Seller similar actions required in connection with the foregoing perfection of security interests in the Collateral as and (B) under the supervision of Seller, prepare the June Financial Statements, to the extent not yet prepared contemplated by this Indenture or the Collateral Documents (in each case, subject to any grace periods specified therein) shall be completed.
(b) Within ninety (90) days after the Effective Date, the Company shall deliver to the Collateral Agent customary insurance certificates and finalized as endorsements in form reasonably satisfactory to the Collateral Agent, naming the Collateral Agent, on behalf of the Closing DateNotes Secured Parties, in as the ordinary course of Company’s mortgagee and/or loss payee, as applicable, on property and casualty insurance policies and as an additional insured on all general liability insurance policies maintained by the performance of their responsibilities. Buyer shall, and shall cause the Acquired Companies to, maintain the books and records of the Acquired Companies for examination and copying by Seller for a period of not less than six (6) years following the Closing Date or any longer period as mandated by applicable Law, after which, Buyer or the Acquired Companies may destroy such records in their sole discretion. Access to such records shall not unreasonably interfere with the business operations of Buyer, any Acquired Company or any of their respective successorsits direct or indirect Subsidiaries.
(iic) Following To the Closing Date, Seller shall allow Buyer, upon one (1) Business Day’s prior written notice and during normal business hours, through its affiliates, employees and representatives, the right to (x) examine and make copies, at Buyer’s expense, of the books and records of Seller retained by Seller and maintained by Seller after the Closing Date; but only extent not previously delivered to the extent that such books and records relate Senior Credit Facility Agent, on or prior to the Acquired Companies; and date that is ninety (y90) reasonable access to any of Seller’s employees, in the case of either clause (x) or (y), for the review of the June Financial Statements, and any other action or inquiry related to the procedures set forth in Section 1.4, regulatory and statutory filings, earnings releases, statistical supplements, financial statements and the conduct of any third-party litigation. Seller shall cause its affiliates, employees and representatives to reasonably cooperate with Parent and Buyer in connection with the foregoing. Seller shall maintain such books and records for examination and copying by Buyer for a period of not less than six (6) years days following the Closing Effective Date (or any longer period such later date as mandated by applicable Law, after which, Seller the Senior Credit Facility Agent may destroy such records agree in its sole discretion. Access ), the Company shall deliver, or cause to be delivered, to the Senior Credit Facility Agent, all Pledged Collateral (as defined in the Security Agreement) required to be pledged as Collateral duly indorsed by an effective indorsement (within the meaning of Section 8-107 of the UCC), or accompanied by share transfer powers or other instruments of transfer duly endorsed by such records shall not unreasonably interfere with the business operations of Seller or any of its successorsan effective endorsement, in blank.
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Sources: Indenture (Fortrea Holdings Inc.)
Post-Closing. (i) Following 9.1 At the reasonable request of the Company after the Asset Transfer Closing, Hemispherian shall promptly execute and deliver such instruments and do and perform such acts and things as may be necessary or desirable for effecting the consummation of the transactions contemplated hereby and the assignment of the Transferred Assets, including without limitation, prompt execution, acknowledgment and recordation of other such papers, as necessary or desirable for fully perfecting and conveying to the Company the benefit of the transactions contemplated herein and for facilitating the approval by the relevant Governmental Authority.
9.2 Hemispherian acknowledges and agrees that the Company may, from time to time, in its conduct and furtherance of the JV Business and during the expected development, registration and commercialization processes of the Compounds and/or other products, require additional clarification, information, documentation and other materials from Hemispherian in respect of the Transferred Assets. Hemispherian shall, on an on-going basis after the Asset Transfer Closing Date, Buyer cooperate with and respond promptly to the Company’s reasonable written requests and provide or procure to be provided to the Company all such additional clarification, information, documentation, and other materials. In addition, ▇▇▇▇▇▇▇▇▇▇▇▇ agrees that it shall, upon the Company’s reasonable request, after the Asset Transfer Closing, assist the Company in obtaining services provided by Third Parties, including without limitation the suppliers and shall cause service providers that were engaged by Hemispherian in relation to the Acquired Companies toproduction, allow Sellersupply, upon one (1) Business Day’s prior written notice research and during normal business hoursdevelopment, through its affiliatesand regulatory matters, employees and representatives, (x) the right with respect to examine and make copies, at Seller’s expense, any other aspect of the books JV Business.
9.3 Hemispherian undertakes to forward and records transfer to the Company as soon as practicable, any documents, information, communications, correspondence or payments which Hemispherian may receive after the Asset Transfer Closing Date in relation to the Transferred Assets and which should have properly been received by or addressed to the Company pursuant to the terms of this Agreement or the Joint Venture Agreement, and agrees that any payments so received by Hemispherian after the Asset Transfer Closing Date shall be held by it as agent of the Acquired Companies, Company.
9.4 Hemispherian undertakes to forward and (y) reasonable access to Buyer’s and the Acquired Companies’ employees, in the case of either clause (x) or (y), for the preparation and review of the June Financial Statements and any other action or inquiry related transfer to the procedures set forth Company as soon as practicable but in Section 1.4, regulatory and statutory filings, earnings releases, statistical supplements, financial statements (including, but not limited to, the timely preparation pursuant to Seller’s then-current schedule and filing of Seller’s current, quarterly and annual reports on Forms 8-K, 10-Q and 10-K for any post-closing period) and the conduct of any third-party litigation. Parent and Buyer shall cause their, and the Acquired Companies’, affiliates, employees and representatives to (A) reasonably cooperate with Seller in connection with the foregoing and (B) under the supervision of Seller, prepare the June Financial Statements, to the extent not yet prepared and finalized as of the Closing Date, in the ordinary course of the performance of their responsibilities. Buyer shall, and shall cause the Acquired Companies to, maintain the books and records of the Acquired Companies for examination and copying by Seller for a period of not less than event within six (6) years following months of the Closing Date or any longer period as mandated by applicable Law, after which, Buyer or the Acquired Companies may destroy such records in their sole discretion. Access to such records shall not unreasonably interfere with the business operations of Buyer, any Acquired Company or any of their respective successors.
(ii) Following the Asset Transfer Closing Date, Seller shall allow Buyer, upon one (1) Business Day’s prior written notice and during normal business hours, through its affiliates, employees and representatives, all copies of documents issued by relevant Governmental Authorities or other documentary evidence demonstrating the right to (x) examine and make copies, at Buyer’s expense, approval of the books and records of Seller retained by Seller and maintained by Seller after the Closing Date; but only to the extent that such books and records relate to the Acquired Companies; and (y) reasonable access to any of Seller’s employees, regulatory file transfers in the case of either clause (x) or (y), for the review of the June Financial Statements, and any other action or inquiry related to the procedures set forth in accordance with Section 1.4, regulatory and statutory filings, earnings releases, statistical supplements, financial statements and the conduct of any third-party litigation. Seller shall cause its affiliates, employees and representatives to reasonably cooperate with Parent and Buyer in connection with the foregoing. Seller shall maintain such books and records for examination and copying by Buyer for a period of not less than six (6) years following the Closing Date or any longer period as mandated by applicable Law, after which, Seller may destroy such records 7.3 then in its sole discretion. Access to such records shall not unreasonably interfere with the business operations of Seller possession or any of its successorscontrol.
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