Due to GBI Breach. In the event GBI fails to consummate the Merger ----------------- and such failure constitutes a breach of GBI's obligations under this Agreement, GBI will pay to Corgenix the Applicable Termination Payment, and GBI additionally will reimburse Corgenix for any and all sums, if any, required to be paid by Corgenix in respect of the Note payable by Corgenix to GBI in the principal amount of Five Hundred Thousand ($500,000) Dollars (the "Corgenix Note"), including any interest paid thereon.
Appears in 3 contracts
Samples: Agreement and Plan of Merger (Genesis Bioventures Inc), Agreement and Plan of Merger (Genesis Bioventures Inc), Agreement and Plan of Merger (Genesis Bioventures Inc)
Due to GBI Breach. In the event GBI fails to consummate the Merger ----------------- and such failure constitutes a breach of GBI's obligations under this Agreement, GBI will pay to Corgenix the Applicable Termination Payment, and GBI additionally will reimburse Corgenix for any and all sums, if any, required to be paid by Corgenix in respect of the Note payable by Corgenix to GBI in the principal amount of Five Hundred Thousand ($500,000) Dollars (the "Corgenix Note"), including any interest paid thereon.
Appears in 1 contract
Samples: Agreement and Plan of Merger (Genesis Bioventures Inc)
