Common use of Conditions Generally Clause in Contracts

Conditions Generally. If any of the foregoing conditions are -------------------- not fulfilled at the time set forth herein for Closing, Purchaser may only, at Purchaser's option, either: (a) Waive the unfulfilled condition or conditions and consummate Closing hereunder; or (b) Terminate this Agreement pursuant to Article XII hereof. It is agreed that if Purchaser is informed in writing by the Stockholders or the Company at or before the time of Closing of any breach or non-fulfillment of any warranty, representation or covenant by the Stockholders or the Company or non-fulfillment of any condition, and Purchaser does not elect to terminate this Agreement and proceeds to consummate Closing hereunder, then Purchaser shall be deemed to have waived its rights with respect to the applicable warranty, representation, covenant or condition.

Appears in 2 contracts

Samples: Stock Purchase Agreement (Communications Systems International Inc), Stock Purchase Agreement (Communications Systems International Inc)

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Conditions Generally. If any of the foregoing conditions are -------------------- not fulfilled at the time set forth herein for Closing, Purchaser the Company and the Stockholders may only, at Purchaser's their option, either: (a) Waive waive the unfulfilled unfilled condition or conditions and consummate Closing hereunder; or (b) Terminate terminate this Agreement pursuant to Article XII hereof. It is agreed that if Purchaser is the Stockholders are informed in writing by the Stockholders or the Company Purchaser at or before the time of Closing of any breach or non-fulfillment of any warranty, representation or covenant by the Stockholders or the Company Purchaser or non-fulfillment of any condition, and Purchaser does the Company and the Stockholders do not elect to terminate this Agreement and proceeds proceed to consummate Closing hereunder, then Purchaser the Company and the Stockholders shall be deemed to have waived its their rights with respect to the applicable warranty, representation, covenant or condition.

Appears in 2 contracts

Samples: Stock Purchase Agreement (Communications Systems International Inc), Stock Purchase Agreement (Communications Systems International Inc)

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