Common use of Third Party Approval Clause in Contracts

Third Party Approval. (a) If the Vendor is required to obtain any approval from a third party to comply with its obligation under clause 6.1, the Vendor must use reasonable endeavours to obtain that approval. (b) If, and to the extent, that the Vendor is unable to obtain the required third party approval, the Vendor and the Purchaser agree that the Vendor will: (i) hold the benefits of the relevant Shared Asset on trust for the Purchaser; and Business Sale Agreement (ii) cooperate in any reasonable and lawful arrangement designed to provide those benefits to the Purchaser, including following any reasonable directions given by the Purchaser.

Third Party Approval. (a) If the Vendor is required to obtain any approval from a third party to comply with its obligation under clause 6.1, the Vendor must use reasonable endeavours to obtain that approval. (b) If, and to the extent, that the Vendor is unable to obtain the required third party approval, the Vendor and the Purchaser agree that the Vendor will: (i) hold the benefits of the relevant Shared Asset on trust for the Purchaser; and Business Sale Agreementand (ii) cooperate in any reasonable and lawful arrangement designed to provide those benefits to the Purchaser, including following any reasonable directions given by the Purchaser.