Common use of Breach; Failure of Condition Clause in Contracts

Breach; Failure of Condition. If either party shall believe at any time prior to the Closing Date that any other party has breached any representation, warranty, covenant or agreement contained in this Agreement, or that any condition to the Closing is not reasonably likely to be satisfied, such party shall promptly so inform such other party specifying the breach or condition concerned, and such other party shall have a reasonable opportunity to correct such breach or cause such condition to be satisfied, but failure to so notify shall not release the other party from its obligations hereunder.

Appears in 3 contracts

Samples: Asset Purchase Agreement (Intelligent Electronics Inc), Asset Purchase Agreement (Xlconnect Solutions Inc), Asset Purchase Agreement (Interliant Inc)

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Breach; Failure of Condition. If either party shall believe at any time prior to the Closing Date that any the other party has breached any representation, warranty, covenant or agreement contained in this Agreement, or that any condition to the Closing is not reasonably likely to be satisfied, such party shall promptly so inform such other party party, specifying the breach or condition concerned, and such other party shall have a reasonable opportunity to correct such breach or cause such condition to be satisfied, but failure to so notify shall not release the other party from its obligations hereunder.

Appears in 1 contract

Samples: Asset Purchase Agreement (Inacom Corp)

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