Common use of Effect of Abandonment Clause in Contracts

Effect of Abandonment. If the Merger is abandoned or terminated as provided for in Article VII or in this Article VIII, except for Sections 5.01(h), 5.01(m), and 5.02(e), and Article IX, this Agreement shall forthwith become wholly void and of no further force or effect without liability on the part of either party to this Agreement or on the part of any officer, director, controlling person (if any), employee, counsel, agent, or stockholder thereof; provided, however, that nothing in this Section 8.03 shall release MEG, Acquisition, or Intellicell or any officer, director, controlling person (if any), employee, counsel, agent, or stockholder thereof from liability for a willful failure to carry out its respective obligations under this Agreement.

Effect of Abandonment. If the Merger is abandoned or terminated as provided for in Article VII or in this Article VIII, except for Sections 5.01(h), 5.01(m), and 5.02(e), and Article IX, this Agreement shall forthwith become wholly void and of no further force or effect without liability on the part of either party to this 78 Agreement or on the part of any officer, director, controlling person (if any), employee, counsel, agent, or stockholder thereof; provided, however, that nothing in this Section 8.03 shall release MEGVNI, Acquisition, or Intellicell Titan or any officer, director, controlling person (if any), employee, counsel, agent, or stockholder thereof from liability for a willful failure to carry out its respective obligations under this Agreement.

Effect of Abandonment. If the Merger is abandoned or terminated as provided for in Article VII or in this Article VIII, except for Sections 5.01(h5.01(i), 5.01(m), 5.02(e) and 5.02(e5.02(n), and Article IX, this Agreement shall forthwith become wholly void and of no further force or effect without liability on the part of either party to this Agreement or on the part of any officer, director, controlling person (if any), employee, counsel, agent, or stockholder thereof; provided, however, that nothing in this Section 8.03 shall release MEGAVUG, Acquisition, or Intellicell OncoVista or any officer, director, controlling person (if any), employee, counsel, agent, or stockholder thereof from liability for a willful failure to carry out its respective obligations under this Agreement.