Covenants
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Is a noncompete common?

Frequency/market practice: Fairly common.

Is it common to use waterfall or blue pencil methods to interpret contractual provisions?

Frequency/market practice: A blue pencil provision is fairly common.

Are nonsolicitation provisions (of employees) common?

Frequency/market practice: Fairly common (in conjunction with noncompete).

Are nonsolicitation provisions (of customers) common?

Frequency/market practice: Fairly common (in conjunction with noncompete).

Are seller restrictions usually imposed on the target business between signing the purchase agreement and closing?

Frequency/market practice: Very common.

Is there broad access to books, records and management between signing and closing?

Frequency/market practice: Fairly common; generally seen in private deals.

Is it common to update warranty disclosure or notify of possible breach?

Frequency/market practice: Fairly common but subject to negotiation.