No Legal Proceedings Challenging Transaction Condition

Description

This smart field captures the closing condition that no governmental authority has issued any order, taken any action or enacted any law that restrains, makes illegal or otherwise prohibits the consummation of the transaction contemplated by the agreement. It will also capture the condition that there are no actions or proceedings by third parties seeking to restrain closing of the transaction. This smart field was trained on share purchase agreements, asset purchase agreements and merger agreements.