Common use of Bases for Termination Clause in Contracts

Bases for Termination. This Agreement and the transactions contemplated hereby may be terminated at any time on or prior to the Closing Date: (a) by the mutual written consent of the parties hereto; (b) by Purchaser: (i) if any representation or warranty of Seller made in this Agreement was untrue in any material respect when made or is untrue in any material respect on the Closing Date; (ii) if Seller shall have defaulted in any material respect in the performance of any covenant, agreement or obligation under this Agreement, and such default is not cured within ten days after Seller’s receipt of written notice from Purchaser that such default exists or has occurred; or (iii) if the conditions to Purchaser's obligations to consummate the transaction contemplated hereby are not or cannot be satisfied on or before August 31, 2001 for any reason other than a breach by Purchaser. (c) by Seller: (i) if any representation or warranty of Purchaser made in this Agreement was untrue in any material respect when made or is untrue in any material respect on the Closing Date; (ii) if Purchaser shall have defaulted in any material respect in the performance of any covenant, agreement or obligation under this Agreement, and such default is not cured within ten days after Purchaser’s receipt of written notice from Seller that such default exists or has occurred; or (iii) if the conditions to Seller's obligations to consummate the transactions contemplated hereby are not or cannot be satisfied on or before August 31, 2001 for any reason other than a breach by Seller.

Appears in 1 contract

Samples: Asset Purchase Agreement (Alphanet Solutions Inc)

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Bases for Termination. This Agreement and the transactions contemplated hereby may be terminated at any time on or prior to the Closing Date: (a) by the mutual written consent of the parties hereto; (b) by Purchaser: (i) if any representation or warranty of Seller made in this Agreement was untrue in any material respect when made or is untrue in any material respect on the Closing Date; (ii) if Seller shall have defaulted in any material respect in the performance of any covenant, agreement or obligation under this Agreement, and such default is not cured within ten days after Seller’s receipt of written notice from Purchaser that such default exists or has occurred; or (iii) if the conditions to Purchaser's obligations to consummate the transaction contemplated hereby are not or cannot be satisfied on or before August 31, 2001 for any reason other than a breach by Purchaser. (c) by Seller: (i) if any representation or warranty of Purchaser made in this Agreement was untrue in any material respect when made or is untrue in any material respect on the Closing Date; (ii) if Purchaser shall have defaulted in any material respect in the performance of any covenant, agreement or obligation under this Agreement, and such default is not cured within ten days after Purchaser’s receipt of written notice from Seller that such default exists or has occurred; or (iii) if the conditions to Seller's obligations to consummate the transactions contemplated hereby are not or cannot be satisfied on or before August 31, 2001 for any reason other than a breach by Seller.

Appears in 1 contract

Samples: Asset Purchase Agreement (Snap2 Corp)

Bases for Termination. This Agreement and the transactions contemplated hereby may be terminated at any time on or prior to the Closing Date: (a) by the mutual written consent of the parties hereto; (b) by Purchaser: Buyer (i) if any representation or warranty of Seller made in this Agreement was untrue in any material respect when made or is untrue in any material respect on the Closing Date; ; or (ii) if Seller shall have defaulted in any material respect in the performance of any covenant, agreement or obligation under this Agreement, and such default is not cured within ten days after Seller’s 's receipt of written notice from Purchaser Buyer that such default exists or has occurred; or or (iii) if the conditions to PurchaserBuyer's obligations to consummate the transaction contemplated hereby are not or cannot be satisfied on or before August July 31, 2001 1997 for any reason other than a breach by Purchaser.Buyer; (c) by Seller: Seller (i) if any representation or warranty of Purchaser Buyer made in this Agreement was untrue in any material respect when made or is untrue in any material respect on the Closing Date; ; or (ii) if Purchaser Buyer shall have defaulted in any material respect in the performance of any covenant, agreement or obligation under this Agreement, and such default is not cured within ten days after Purchaser’s Buyer's receipt of written notice from Seller that such default exists or has occurred; or or (iii) if iii)if the conditions to Seller's obligations to consummate the transactions contemplated hereby are not or cannot be satisfied on or before August July 31, 2001 1997 for any reason other than a breach by Seller.

Appears in 1 contract

Samples: Stock Purchase Agreement (Transcrypt International Inc)

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Bases for Termination. This Agreement and the transactions contemplated hereby may be terminated at any time on or prior to the Closing Date: (a) by the mutual written consent of the parties hereto; (b) by Purchaser: Buyer (i) if any representation or warranty of Seller made in this Agreement was untrue in any material respect when made or is untrue in any material respect on the Closing Date; ; or (ii) if Seller shall have defaulted in any material respect in the performance of any covenant, agreement or obligation under this Agreement, and such default is not cured within ten days after Seller’s 's receipt of written notice from Purchaser Buyer that such default exists or has occurred; or or (iii) if the conditions to PurchaserBuyer's obligations to consummate the transaction transactions contemplated hereby are not or cannot be satisfied on or before August July 31, 2001 1997 for any reason other than a breach by Purchaser.Buyer; (c) by Seller: Seller (i) if any representation or warranty of Purchaser Buyer made in this Agreement was untrue in any material respect when made or is untrue in any material respect on the Closing Date; ; or (ii) if Purchaser Buyer shall have defaulted in any material respect in the performance of any covenant, agreement or obligation under this Agreement, and such default is not cured within ten days after Purchaser’s Buyer's receipt of written notice from Seller that such default exists or has occurred; or or (iii) if the conditions to Seller's obligations to consummate the transactions contemplated hereby are not or cannot be satisfied on or before August July 31, 2001 1997 for any reason other than a breach by Seller.

Appears in 1 contract

Samples: Preferred Stock Purchase Agreement (Transcrypt International Inc)

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