Common use of Certain Effects of Termination Clause in Contracts

Certain Effects of Termination. (a) In the event of a Specified Termination, then AbbVie shall pay to Allergan $1,250,000,000 (the “Reverse Termination Payment”) in cleared, immediately available funds within three (3) Business Days thereafter; provided, that Allergan shall not be entitled to receive the Reverse Termination Payment if Allergan’s breach of this Agreement shall have been the primary cause of such Specified Termination.

Appears in 5 contracts

Samples: Transaction Agreement, Transaction Agreement, Transaction Agreement (Allergan PLC)

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