Common use of Default at Closing Clause in Contracts

Default at Closing. Notwithstanding the provisions hereof, if AmeriResource shall fail or refuse to deliver any of the AmeriResource Shares, or shall fail or refuse to consummate the transaction described in this Agreement prior to the Closing Date, such failure or refusal shall constitute a default by AmeriResource and Kelly's at its option and without prejudice to its rights against such defaulting party, may either (a) invoke any equitable remedies to enforce performance hereunder including, without limitation, an action or suit for specific performance, or (b) terminate all of its obligations hereunder with respect to AmeriResource.

Default at Closing. Notwithstanding the provisions hereof, if AmeriResource Ameriresource shall fail or refuse to deliver any of the AmeriResource Ameriresource Shares, or shall fail or refuse to consummate the transaction described in this Agreement prior to the Closing Date, such failure or refusal shall constitute a default by AmeriResource Ameriresource and Kelly's at its option and without prejudice to its rights against such defaulting party, may either (a) invoke any equitable remedies to enforce performance hereunder including, without limitation, an action or suit for specific performance, or (b) terminate all of its obligations hereunder with respect to AmeriResourceAmeriresource.

Default at Closing. Notwithstanding the provisions hereof, if AmeriResource shall fail or refuse to deliver any of the AmeriResource Shares, or shall fail or refuse to consummate the transaction described in this Agreement prior to the Closing Date, such failure or refusal shall constitute a default by AmeriResource and Kelly's Flexweight at its option and without prejudice to its rights against such defaulting party, may either (a) invoke any equitable remedies to enforce performance hereunder including, without limitation, an action or suit for specific performance, or (b) terminate all of its obligations hereunder with respect to AmeriResource.