Changes in Economic Conditions/Right of Termination Sample Clauses

Changes in Economic Conditions/Right of Termination. In the event that as a result of business or economic developments occurring after the effective date hereof, including without limitation any determination by Brewing Company that the economic consequences of this Agreement are unacceptable, and any decision by Brewing Company to cease or diminish production of draft beer, the transactions contemplated by this Agreement cannot be implemented or continued by a party hereto without undue cost, loss or detriment to such party, the party experiencing such adverse consequences shall have the right, upon notification to the other party of the particulars of such developments, to cancel this Agreement effective thirty (30) days after the giving of such written notice. In the event of any such termination, Brewing Company shall repurchase kegs from MicroStar in a quantity equal to three times the average monthly keg deliveries to Brewing Company effectuated during the immediately preceding six (6) month period (the "Keg Purchase Quantity") at prices set forth in Exhibit "E" based on the age of the keg. The kegs to be purchased pursuant to this Section 11.6 shall be such kegs as are then currently available for disposition by MicroStar and it is understood by the parties hereto that the age of the kegs which may then be available cannot presently be ascertained. The requisite quantities of kegs shall be delivered monthly in prorated portions by MicroStar at its sole cost, risk and expense to Brewing Company's designated location(s) over an approximate three (3) month period. After confirmation of delivery of conforming kegs, a Xxxx of Sale will be delivered assigning title to the kegs to Brewing Company free and clear of any lien or security interest and Brewing Company shall contemporaneously remit payment for all kegs so purchased. If the foregoing right of termination is exercised by MicroStar, MicroStar shall, upon the request of Brewing Company, allow this Agreement to remain in effect for sixty (60) days after the otherwise applicable effective date of termination in order to afford Brewing Company an opportunity to arrange financing for the purchase of the kegs Brewing Company is obligated to purchase hereunder. In such event, the quantity of kegs subject to the purchase obligation shall be delivered monthly in prorated portions to Brewing Company's designated location(s) over an approximate three (3) month period commencing at the end of such sixty (60) day extension. In the event of Brewing Company's exer...
Sample 1Sample 2
AutoNDA by SimpleDocs
Changes in Economic Conditions/Right of Termination. In the event that as a result of business or economic developments occurring after the effective date hereof, the transactions contemplated by this Agreement cannot be implemented or continued by a party hereto without undue cost, loss or detriment to such party, the party experiencing such adverse consequences shall have the right, upon notification to the other party of the particulars of such developments, to cancel this Agreement effective ninety (90) days after the giving of such written notice.
Sample 1Sample 2
Changes in Economic Conditions/Right of Termination. In the event that as a result of business or economic developments occurring after the effective date hereof, the transactions contemplated by this Agreement cannot be
Sample 1

Related to Changes in Economic Conditions/Right of Termination

  • Conditions of Termination Notwithstanding anything to the contrary contained herein, this Agreement may be terminated at any time before the Closing:

  • Effects of Termination In the event of any termination of this Agreement as provided in Section 5.1, this Agreement (other than Section 3.2(b), this Section 5.2 and ARTICLE VI (other than Sections 6.1 and 6.2) and all applicable defined terms, which shall remain in full force and effect) shall forthwith become wholly void and of no further force and effect; provided that nothing herein shall relieve any party from liability for willful breach of this Agreement.

  • Termination of Conditions and Obligations The conditions precedent imposed by Section 5 or this Section 7 upon the transferability of the Shares shall cease and terminate as to any particular number of the Shares when such Shares shall have been effectively registered under the Securities Act and sold or otherwise disposed of in accordance with the intended method of disposition set forth in the Registration Statement covering such Shares or at such time as an opinion of counsel satisfactory to the Company shall have been rendered to the effect that such conditions are not necessary in order to comply with the Securities Act.

  • Conditions to Closing Termination 34 6.1 Conditions Precedent to Obligations of Purchaser........................... 34 6.2 Conditions Precedent to the Obligations of the Shareholders................ 37 6.3 Termination................................................................ 38

  • Right of Termination This Agreement may be terminated at any time at or prior to the Closing:

  • Certain Effects of Termination In the event that this Agreement is terminated pursuant to Section 7.01:

  • Waiver of Termination Rights The Employee waives any and all rights to compensation or damages as a result of a Termination, insofar as those rights result or may result from: (a) the loss or diminution in value of such rights or entitlements under the Program; or (b) the Employee ceasing to have rights, or ceasing to be entitled to any Awards under the Program as a result of such Termination.

  • Survival of Termination The provisions of Sections 1.7, 1.8, 3.1, 3.2, 5.4, 5.5, 5.6, 5.7, 5.10 and 5.13 shall survive any termination of this Agreement.

  • Effect of Termination on Other Positions If, on the Date of Termination, the Executive is a member of the Board or the board of directors of any of the Company’s subsidiaries, or holds any other position with the Company or its subsidiaries, the Executive shall be deemed to have resigned from all such positions as of the Date of Termination. The Executive agrees to execute such documents and take such other actions as the Company may request to reflect such resignation.

  • Additional Conditions to Obligation of the Company The obligation of the Company to effect the Merger is also subject to the following conditions:

Time is Money Join Law Insider Premium to draft better contracts faster.