Common use of Condition to Closing Clause in Contracts

Condition to Closing. In addition to the other conditions to Buyer's and Seller's obligations to close specified in SECTIONS 9 AND 10 hereof, and notwithstanding any other term or provision hereof, each of Buyer and Seller shall have the right to terminate this Agreement and refrain from consummating the transactions contemplated hereby without liability if the aggregate amounts payable to Seller pursuant to SECTION 2.1.1(b) (and subject to the terms of SECTION 3.2.1) are insufficient to pay, satisfy or otherwise discharge in full the Closing Date Liabilities, as set forth in Schedule 3.2.1 (and as further reduced pursuant to signed and completed Renegotiated Debt Agreements).

Appears in 2 contracts

Samples: Agreement of Purchase and Sale (Sports Club Co Inc), Agreement of Purchase and Sale (Sports Club Co Inc)

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Condition to Closing. In addition to the other conditions to Buyer's and Seller's obligations to close specified in SECTIONS 9 AND 10 hereof, and notwithstanding any other term or provision hereof, each of Buyer and Seller shall have the right to terminate this Agreement and refrain from consummating the transactions contemplated hereby without liability if the aggregate amounts payable to Seller pursuant to SECTION 2.1.1(b) (and subject to the terms of SECTION 3.2.1) are insufficient to pay, satisfy or otherwise discharge in full the Closing Date Liabilities, as set forth in Schedule 3.2.1 (and as further reduced pursuant to confirmed by signed and completed Renegotiated Debt Agreements).

Appears in 1 contract

Samples: Agreement of Purchase and Sale (Sports Club Co Inc)

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Condition to Closing. In addition to the other conditions to Buyer's and Seller's obligations to close specified in SECTIONS 9 AND 10 hereof, and notwithstanding any other term or provision hereof, each of Buyer and Seller shall have the right to terminate this Agreement and refrain from consummating the transactions contemplated hereby without liability if the aggregate amounts payable to Seller pursuant to SECTION 2.1.1(b2.1.1(B) (and subject to the terms of SECTION 3.2.1) are insufficient to pay, satisfy or otherwise discharge in full the Closing Date Liabilities, as set forth in Schedule 3.2.1 (and as further reduced pursuant to confirmed by signed and completed Renegotiated Debt Agreements).

Appears in 1 contract

Samples: Agreement of Purchase and Sale (Sports Club Co Inc)

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