Common use of State Statutes Clause in Contracts

State Statutes. The Parties and their respective Boards of Directors shall, if any state takeover statute or similar law is or becomes applicable to the Transactions, this Agreement or any of the transactions contemplated by this Agreement, use all reasonable efforts to ensure that the Transactions contemplated by this Agreement may be consummated as promptly as practicable on the terms contemplated by this Agreement and otherwise to minimize the effect of such statute or regulation on the Spin-Off, this Agreement and the Transactions contemplated hereby.