Common use of Destruction or Expropriation Clause in Contracts

Destruction or Expropriation. If, prior to the Closing Time, there ---------------------------- occurs any material destruction or damage by fire or other cause or hazard to any material part of the Assets, or if the Assets or any material part of them are expropriated or forcefully taken by any Governmental Agency or if notice of intention to expropriate a material part of the Assets has been filed in accordance with Applicable Law, then AOL may, at its option, terminate this Agreement by notice to Issuer.

Appears in 2 contracts

Samples: Agreement (Bid Com International Inc), Agreement (Bid Com International Inc)

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Destruction or Expropriation. If, prior to the Closing Time, there ---------------------------- occurs any material destruction or damage by fire or other cause or hazard to any material part of the Assetsproperties or assets of the Corporation and/or any Subsidiary, or if the Assets such properties or assets or any material part of them are expropriated or forcefully taken by any Governmental Agency Authorities or if notice of intention to expropriate a material part of the Assets such properties or assets has been filed in accordance with Applicable Lawapplicable legislation, then AOL the Purchaser may, at its option, terminate this Agreement by notice to Issuerthe other Parties.

Appears in 2 contracts

Samples: Share Purchase Agreement (Viking Energy Group, Inc.), Share Purchase Agreement (Camber Energy, Inc.)

Destruction or Expropriation. If, prior to the Closing Time, there ---------------------------- occurs any material destruction or damage by fire or other cause or hazard to any material part of the Assetsproperties or assets of the Company, or if the Assets such properties or assets or any material part of them are expropriated or forcefully taken by any Governmental Agency governmental authority or if notice of intention to expropriate a material part of the Assets such properties or assets has been filed in accordance with Applicable Lawapplicable legislation, then AOL the Purchaser may, at its option, but shall not be obliged to, terminate this Agreement by notice to Issuerthe other Parties.

Appears in 1 contract

Samples: Share Purchase Agreement (Chell Group Corp)

Destruction or Expropriation. If, prior to the Closing Time, there ---------------------------- occurs any material destruction or damage by fire or other cause or hazard to any material part of the Assets, or if the Assets or any material part of them are expropriated or forcefully taken by any Governmental Agency or if notice of intention to expropriate a material part of the Assets has been filed in accordance with Applicable Law, then AOL Subscriber may, at its option, terminate this Agreement by notice to Issuer.

Appears in 1 contract

Samples: Subscription Agreement (Bid Com International Inc)

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Destruction or Expropriation. If, prior to the Closing Time, there ---------------------------- occurs any material destruction or damage by fire or other cause or hazard to any material part of the Assets, or if the Assets or any material part of them are expropriated or forcefully taken by any Governmental Agency Authority or if notice of intention to expropriate a material part of the Assets has been filed in accordance with Applicable Law, then AOL the Purchaser may, at its option, terminate send written notice to the Vendors that this Agreement by notice to Issueris terminated.

Appears in 1 contract

Samples: Share Purchase Agreement (Imperial Parking Corp)

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