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Common use of Effect of Expiration Clause in Contracts

Effect of Expiration. In the event of the expiration of this Agreement pursuant to Section 7.01, this Agreement shall forthwith become void and have no effect without any liability on the part of any party hereto or its Affiliates, directors, officers, stockholders, managers or members other than the provisions of this Section 7.02 and Sections 5.02, 8.01 and 8.05 hereof, which shall survive any termination as set forth in Section 8.01. Nothing contained in this Section 7.02 shall relieve any party from liability for any breach of this Agreement.

Appears in 5 contracts

Samples: Royalty Purchase Agreement (Healthcare Royalty, Inc.), Royalty Purchase Agreement (Healthcare Royalty, Inc.), Royalty Purchase Agreement (XOMA Corp)

Effect of Expiration. In the event of the expiration of this Agreement pursuant to Section 7.01, this Agreement shall forthwith become void and have no effect without any liability on the part of any party hereto or its Affiliates, directors, officers, stockholders, managers or members other than the provisions of this Section 7.02 and Sections 5.025.04, 8.01 8.01, 8.04 and 8.05 hereof, which shall survive any termination as set forth in Section 8.01. Nothing contained in this Section 7.02 shall relieve any party from liability for any breach of this Agreement.

Appears in 1 contract

Samples: Purchase Agreement (Avant Immunotherapeutics Inc)