Common use of Effect of Rescission Clause in Contracts

Effect of Rescission. (i) When this Agreement is terminated, unless otherwise agreed by the parties at that time, the parties to this Agreement shall return the consideration under this Agreement obtained from the other party in accordance with the principles of fairness, reasonableness and good faith, and try to restore it to the state in which this Agreement was signed. (ii) Upon termination of this Agreement, all rights and obligations of the parties hereunder shall cease. A party shall have no other claim against the other party under this Agreement or for the termination of this Agreement, except for its liability under Article 7 of this Agreement.

Appears in 4 contracts

Samples: Investment Agreement (Advanced Biomed Inc.), Investment Agreement (Advanced Biomed Inc.), Investment Agreement (Advanced Biomed Inc.)

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