Common use of Subsequent to Closing Clause in Contracts

Subsequent to Closing. but prior to the expiration of Buyer's Put Option as described in Section 1.5 herein, Seller agrees that (a) any merger, consolidation, reorganization, dissolution, liquidation, winding up, or sale of all or substantially all of the Company's assets shall require the approval of Buyer's board of directors; and (b) Seller shall not sell, encumber, liquidate, or otherwise dispose of the IMTL Shares without the approval of the Buyer's board of directors. (c) The rights of approval granted in this section 1.8.1 shall expire with the expiration of Buyer's Put Option as described in Section 1.5 herein.