Common use of Restrictions in Operation of the Business Clause in Contracts

Restrictions in Operation of the Business. Seller represents and covenants that during the period from the date of this Agreement to the Closing (except as Buyer otherwise has consented or may consent in writing): (a) The Seller's business will be conducted only in the usual and ordinary manner insofar as it relates to the Purchased Assets. (b) Seller will not sell, dispose, transfer, assign or otherwise remove any of the Purchased Assets except inventory in the ordinary course of business and at regular prices. (c) Seller will timely pay and discharge all bills and monetary obligations and timely and properly perform all of its obligations and commitments under all existing contracts and agreements pertaining to the Purchased Assets, except as to amounts or obligations which Seller contests in good faith. (d) Seller shall use its best efforts to preserve its business organization and the Purchased Assets and to keep available to Buyer the services of Seller's present employees, and not to impair relationships with suppliers, customers and others having business relations with the Purchased Assets.

Appears in 2 contracts

Sources: Purchase Agreement (Comdial Corp), Purchase Agreement (Spanlink Communications Inc)