Common use of Preservation of and Access to Records Clause in Contracts

Preservation of and Access to Records. All books and records of Seller, Licensee and Shareholder conveyed to Purchaser hereunder shall be preserved by Purchaser for a period of six (6) years after the Date of Closing; provided, however, Purchaser may destroy any part or parts of such records upon obtaining written consent of Shareholder for such destruction, which consent shall not be unreasonably withheld. Such records shall be made available to Seller, Licensee and Shareholder and their representatives at all reasonable times during normal business hours of Purchaser during said six-year period with the right at their expense to make abstracts from and copies thereof. Purchaser may return such records to Seller, Licensee and Shareholder at any time and Purchaser's obligation to preserve or make available such records shall thereupon terminate.

Appears in 2 contracts

Sources: Asset Purchase Agreement (Intercel Inc/De), Asset Purchase Agreement (Rural Cellular Corp)

Preservation of and Access to Records. All books and records of Seller, Licensee and Shareholder Sellers conveyed to Purchaser hereunder shall be preserved by Purchaser for a period of six (6) years after the Date of Closing; provided, however, Purchaser may destroy any part or parts of such records upon obtaining written consent of Shareholder Sellers for such destruction, which consent shall not be unreasonably withheldwithheld or delayed. Such records shall be made available to Seller, Licensee Sellers and Shareholder Shareholders and their representatives at all reasonable times during normal business hours of Purchaser during said six-year period with the right at their expense to make abstracts from and 48 copies thereof. Purchaser may return such records to Seller, Licensee and Shareholder Sellers at any time and Purchaser's obligation to preserve or make available such records shall thereupon terminate.

Appears in 1 contract

Sources: Asset Purchase Agreement (Bab Holdings Inc)