Common use of Technology-Related Contracts Clause in Contracts

Technology-Related Contracts. Until the Effective Time, O.A.K. shall advise Chemical of all anticipated renewals or extensions of existing data processing service agreements, data processing software license agreements, data processing hardware lease agreements, and other material technology-related licensing, maintenance or servicing agreements with independent vendors ("Technology-Related Contracts") involving O.A.K. or any O.A.K. Subsidiary. The material Technology-Related Contracts of O.A.K. and any O.A.K. Subsidiary are listed in the O.A.K. Disclosure Statement. Notwithstanding any other provision of this Section 5.6, neither O.A.K. nor any O.A.K. Subsidiary shall be obligated to take any irrevocable action, or irrevocably forego taking any action, with respect to those Technology-Related Contracts that would cause any such agreement to terminate, expire, or be materially modified prior to the Effective Time.

Appears in 1 contract

Sources: Merger Agreement (O a K Financial Corp)

Technology-Related Contracts. Until the Effective Time, O.A.K. shall advise Chemical of all anticipated renewals or extensions of existing data processing service agreements, data processing software license agreements, data processing hardware lease agreements, and other material technology-related licensing, maintenance or servicing agreements with independent vendors ("Technology-Related Contracts") involving O.A.K. or any O.A.K. Subsidiary. The material Technology-Related Contracts of O.A.K. and any O.A.K. 45 Subsidiary are listed in the O.A.K. Disclosure Statement. Notwithstanding any other provision of this Section 5.6, neither O.A.K. nor any O.A.K. Subsidiary shall be obligated to take any irrevocable action, or irrevocably forego taking any action, with respect to those Technology-Related Contracts that would cause any such agreement to terminate, expire, or be materially modified prior to the Effective Time.

Appears in 1 contract

Sources: Merger Agreement (Chemical Financial Corp)