Common use of Effect of Termination and Abandonment Clause in Contracts

Effect of Termination and Abandonment. (a) In the event of a termination of this Agreement and the abandonment of the Merger pursuant to this Article VII, this Agreement shall become void and of no effect with no liability on the part of any party hereto (or of any of its directors, officers, employees, agents, legal and financial advisors or other Representatives), other than the provisions of this Section 7.5 and Section 7.6; PROVIDED, HOWEVER, that, except as otherwise provided herein, no such termination shall relieve any party hereto of any liability or damages resulting from any willful or intentional breach of this Agreement.

Appears in 3 contracts

Samples: Merger Agreement (Constellation Brands, Inc.), Merger Agreement (Constellation Brands, Inc.), Merger Agreement (Marsh & McLennan Companies Inc)

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Effect of Termination and Abandonment. (a) In the event of a the termination of this Agreement and the abandonment of the Merger Stock Purchase pursuant to this Article VIIVIII, this Agreement (other than this Section 8.5, the second sentence of Section 5.2, Section 6.2, the second and third sentences of Section 7.2(h), and Article VIII) shall become void and of no effect with no liability on the part of any party hereto (or of any of its directors, officers, employees, consultants, contractors, agents, legal and financial advisors attorneys or other Representatives); provided, other than the provisions of this Section 7.5 and Section 7.6; PROVIDEDhowever, HOWEVER, that, except as otherwise provided herein, that no such termination shall relieve any party hereto of any liability or damages resulting from any willful or intentional breach of this AgreementAgreement by such party.

Appears in 2 contracts

Samples: Stock Purchase Agreement (Probility Media Corp), Stock Purchase Agreement (IZEA, Inc.)

Effect of Termination and Abandonment. (a) In the event of a termination of this Agreement and the abandonment of the Merger pursuant to this Article VII, this Agreement shall become void and of no effect with no liability on the part of any party hereto (or of any of its directors, officers, employees, agents, legal and financial advisors or other Representatives), other than the provisions of this Section 7.5 and Section 7.6; PROVIDEDprovided, HOWEVERhowever, that, except as otherwise provided herein, no such termination shall relieve any party hereto of any liability or damages resulting from any willful or intentional breach of this Agreement.

Appears in 2 contracts

Samples: Merger Agreement (Kroll Inc), Merger Agreement (Metals Usa Inc)

Effect of Termination and Abandonment. (a) In the event of a termination of this Agreement and the abandonment of the Merger pursuant to this Article VIIIX, the provisions of Sections 5.17, 6.9 and Article X of this Agreement shall survive the termination of this Agreement, but in all other respects this Agreement shall become void and of no effect with no liability on the part of any party hereto (or of any of its directors, officers, employees, agents, legal and financial advisors or other Representativesrepresentatives); provided, other than the provisions of this Section 7.5 and Section 7.6; PROVIDED, HOWEVERhowever, that, except as otherwise provided herein, no such termination shall relieve any party hereto of any liability or damages resulting from any willful or intentional breach of this Agreement.

Appears in 2 contracts

Samples: Merger Agreement (Renova Media Enterprises Ltd.), Merger Agreement (Moscow Cablecom Corp)

Effect of Termination and Abandonment. (a) In the event of a termination of this Agreement and the abandonment of the Merger pursuant to this Article VIIVIII, this Agreement (other than this Section 9.5, Sections 5.3(b) and 7.12, 9.3(b) and 9.4(b), and Article X) shall become void and of no effect with no liability on the part of any party hereto (or of any of its directors, officers, employees, agents, legal and financial advisors advisors, or other Representativesrepresentatives); provided, other than the provisions of this Section 7.5 and Section 7.6; PROVIDEDhowever, HOWEVER, that, that except as otherwise provided herein, no such termination shall relieve any party hereto of any liability or damages resulting from any willful or intentional breach of this Agreement.

Appears in 2 contracts

Samples: Merger Agreement (Prosofttraining Com), Merger Agreement (Trinity Learning Corp)

Effect of Termination and Abandonment. (a) In the event of a termination of this Agreement and the abandonment of the Merger pursuant to this Article VIIIX, this Agreement (other than as set forth in this Section 9.5, Section 9.6 and Section 10.1) shall become void and of no effect with no liability Liability on the part of any party hereto (or of any of its directors, officers, employees, agents, legal and financial advisors or other Representatives); provided, other than the provisions of this Section 7.5 and Section 7.6; PROVIDED, HOWEVER, thathowever, except as otherwise provided herein, no such termination shall relieve any party hereto of any liability or damages Liability resulting from any inaccuracy in or breach of any representation or warranty or any willful or intentional breach of this Agreement.

Appears in 2 contracts

Samples: Merger Agreement (Willbros Group, Inc.\NEW\), Merger Agreement (Primoris Services Corp)

Effect of Termination and Abandonment. (a) In the event of a termination of this Agreement and the abandonment of the Merger pursuant to this Article VII, this Agreement shall become void and of no effect with no liability on the part of any party hereto (or of any of its directors, officers, employees, agents, legal and financial advisors or other Representativesrepresentatives), other than the provisions of this Section 7.5 and Section 7.6; PROVIDED, HOWEVER, that, except as otherwise provided herein, no such termination shall relieve any party hereto of any liability or damages resulting from any willful or intentional breach of this Agreement.

Appears in 1 contract

Samples: Acquisition Agreement (Nicholas Investment Co Inc)

Effect of Termination and Abandonment. (a) In the event of a termination of this Agreement and the abandonment of the Merger Transaction pursuant to this Article VIIVIII, this Agreement (other than as set forth in Sections 3.5 and 3.10) shall become void and of no effect with no liability on the part of any party hereto (or of any of its directors, managers, members, stockholders, officers, employees, agents, legal and financial advisors or other Representativesrepresentatives); provided, other than the provisions of this Section 7.5 and Section 7.6; PROVIDED, HOWEVER, thathowever, except as otherwise provided herein, no such termination shall relieve any party hereto of any liability or damages resulting from any willful or intentional breach of this Agreement.

Appears in 1 contract

Samples: Stock Purchase Agreement (MRV Communications Inc)

Effect of Termination and Abandonment. (a) In the event of a termination of this Agreement and the abandonment of the Merger pursuant to this Article VIIIX, this Agreement (other than as set forth in Section 10.1) shall become void and of no effect with no liability on the part of any party hereto (or of any of its directors, officers, employees, agents, legal and financial advisors or other Representativesrepresentatives), other than the provisions of this Section 7.5 and Section 7.6; PROVIDED, HOWEVER, that, except as otherwise provided herein, no such termination shall relieve any party hereto of any liability or damages resulting from any willful or intentional breach of this Agreement.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Novartis Corp)

Effect of Termination and Abandonment. (a) In Subject to the terms of Section 7.6, in the event of a termination of this Agreement and the abandonment of the Merger pursuant to this Article ARTICLE VII, this Agreement (other than this Section 7.5, Section 4.3(c) and Section 8.2(a)) shall become void and of no effect with no liability on the part of any party hereto (or of any of its directors, officers, employees, consultants, contractors, agents, legal and financial advisors advisors, or other Representativesrepresentatives); provided, other than the provisions of this Section 7.5 and Section 7.6; PROVIDEDhowever, HOWEVER, that, that except as otherwise provided herein, no such termination shall relieve any party hereto of any liability or damages resulting from any willful or intentional breach of this Agreement.

Appears in 1 contract

Samples: Merger Agreement (Network Peripherals Inc)

Effect of Termination and Abandonment. (a) In the event of a termination of this Agreement and the abandonment of the Merger pursuant to this Article ARTICLE VII, this Agreement (other than as set forth in this SECTION 7.2, SECTION 7.3, SECTION 8.1 and SECTION 8.7) shall become void and of no effect with no liability on the part of any party hereto (or of any of its directors, officers, employees, agents, legal and or financial advisors or other Representativesrepresentatives), other than the provisions of this Section 7.5 and Section 7.6; PROVIDED, HOWEVER, that, except as otherwise provided herein, that no such termination shall relieve any party hereto of from any liability or damages resulting from for any willful or intentional breach of this Agreement.

Appears in 1 contract

Samples: Merger Agreement (Gateway Energy Corp/Ne)

Effect of Termination and Abandonment. (ai) In the event of a termination of this Agreement and the abandonment of the Merger pursuant to this Article VIISection 8.5, this Agreement (other than as set forth in this Section 8.5(e)) shall become void and of no effect with no liability on the part of any party hereto (or of any of its directors, officers, employees, agents, legal and financial advisors or other Representativesrepresentatives); provided, other than the provisions of this Section 7.5 and Section 7.6; PROVIDED, HOWEVER, thathowever, except as otherwise provided herein, no such termination shall relieve any party hereto of any liability or damages resulting from any willful or intentional breach of this Agreement.

Appears in 1 contract

Samples: Merger Agreement (Martek Biosciences Corp)

Effect of Termination and Abandonment. (a) In the event of a termination of this Agreement and the abandonment of the Merger pursuant to this Article VIIVIII, this Agreement (other than this Section 8.5, Section 5.3(c) and Article IX) shall become void and of no effect with no liability on the part of any party hereto (or of any of its directors, officers, employees, consultants, contractors, agents, legal and financial advisors advisors, or other Representativesrepresentatives); provided, other than the provisions of this Section 7.5 and Section 7.6; PROVIDEDhowever, HOWEVER, that, that except as otherwise provided herein, no such termination shall relieve any party hereto of any liability or damages resulting from any willful or intentional material breach of this Agreement.

Appears in 1 contract

Samples: Merger Agreement (Integrated Orthopedics Inc)

Effect of Termination and Abandonment. (a) In the event of a termination of this Agreement and the abandonment of the Merger pursuant to this Article VIIVIII, this Agreement shall become void and of no effect (except for this Section 8.5 and Article IX, which will survive such termination) with no liability to any Person on the part of any party Party hereto (or of any of its directorsrepresentatives or affiliates); provided however, officersand notwithstanding anything in the foregoing to the contrary, employees, agents, legal and financial advisors or other Representatives), other than the provisions of this Section 7.5 and Section 7.6; PROVIDED, HOWEVER, that, that except as otherwise provided herein, (a) no such termination shall relieve any party Party hereto of any liability or damages to the other Party hereto resulting from any willful or intentional material breach of this Agreement; and (b) any confidentiality undertaking entered into by the Parties in connection with this Agreement shall remain in full force and effect subject only to the provisions of such confidentiality undertaking.

Appears in 1 contract

Samples: Merger Agreement (Nice Systems LTD)

Effect of Termination and Abandonment. (a) In the event of a termination of this Agreement and the abandonment of the Merger pursuant to this Article ARTICLE VII, this Agreement (other than this Section 7.5, Section 4.4(b) and Section 8.2(a)) shall become void and of no effect with no liability on the part of any party hereto (or of any of its directors, officers, employees, consultants, contractors, agents, legal and financial advisors advisors, or other Representativesrepresentatives); provided, other than the provisions of this Section 7.5 and Section 7.6; PROVIDEDhowever, HOWEVER, that, that except as otherwise provided herein, no such termination shall relieve any party hereto of any liability or damages resulting from any willful or intentional breach of this Agreement.

Appears in 1 contract

Samples: Merger Agreement (Penny Lane Partners L P)

Effect of Termination and Abandonment. (a) In the event of a termination of this Agreement and the abandonment of the Merger pursuant to this Article VIIVIII, this Agreement (other than Sections 8.5, 5.2(b) and 6.5, and Article IX) shall become void and of no effect with no liability on the part of any party hereto (or of any of its stockholders, directors, officers, managers, employees, agents, legal and financial advisors advisors, or other Representativesrepresentatives); provided, other than the provisions of this Section 7.5 and Section 7.6; PROVIDEDhowever, HOWEVER, that, that except as otherwise provided herein, no such termination shall relieve any party hereto of any liability or damages resulting from any fraud or willful or intentional breach of this Agreement.

Appears in 1 contract

Samples: Merger Agreement (IHS Inc.)

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Effect of Termination and Abandonment. (a) In the event of a termination of this Agreement and the abandonment of the Merger pursuant to this Article VIIIX, this Agreement (other than as set forth in this Section 9.6 and Section 10.1) shall become void and of no effect with no liability on the part of any party hereto (or of any of its directors, officers, employees, agents, legal and financial advisors or other Representativesrepresentatives), other than the provisions of this Section 7.5 and Section 7.6; PROVIDED, HOWEVER, that, except as otherwise provided herein, no such termination shall relieve any party hereto of any liability or damages resulting from any willful or intentional breach of this Agreement.

Appears in 1 contract

Samples: Combination Agreement (NYSE Group, Inc.)

Effect of Termination and Abandonment. (a) In the event of a termination of this Agreement and the abandonment of the Merger Transaction pursuant to this Article VII, this Agreement shall become void and of no effect with no liability on the part of any party hereto (or of any of its directors, officers, employees, agents, legal and financial advisors or other Representatives), other than the Confidentiality Agreement, the provisions of this Section 7.5 7.5, Section 7.6 and Section 7.6Article VIII; PROVIDEDprovided, HOWEVERhowever, that, except as otherwise provided hereinin this Agreement, no such termination shall relieve any party hereto of any liability or damages resulting from any willful or intentional breach of this Agreement.

Appears in 1 contract

Samples: Merger Agreement (Washington Group International Inc)

Effect of Termination and Abandonment. (a) In the event of a termination of this Agreement and the abandonment of the Merger pursuant to this Article ARTICLE VII, this Agreement (other than this SECTION 7.5, SECTION 5.7, SECTION 8.2(A) and SECTION 8.5) shall become void and of no effect with no liability on the part of any party hereto (or of any of its directors, officers, employees, consultants, contractors, agents, legal and financial advisors advisors, or other Representativesrepresentatives), other than the provisions of this Section 7.5 and Section 7.6; PROVIDED, HOWEVER, that, that except as otherwise provided herein, no such termination shall relieve any party hereto of any liability or damages resulting from any willful or intentional breach of this Agreement.

Appears in 1 contract

Samples: Merger Agreement (Creative Solutions With Art, Inc.)

Effect of Termination and Abandonment. (a) In the event of a the termination of this Agreement and the abandonment of the Merger Unit Purchase pursuant to this Article VIIVIII, this Agreement (other than this Section 8.5, the second sentence of Section 5.2, Section 6.2, the second and third sentences of Section 7.2(h), and Article VIII) shall become void and of no effect with no liability on the part of any party hereto (or of any of its directors, officers, employees, consultants, contractors, agents, legal and financial advisors attorneys or other Representatives); provided, other than the provisions of this Section 7.5 and Section 7.6; PROVIDEDhowever, HOWEVER, that, except as otherwise provided herein, that no such termination shall relieve any party hereto of any liability or damages resulting from any willful or intentional breach of this AgreementAgreement by such party.

Appears in 1 contract

Samples: Membership Interest Purchase Agreement (Code Rebel Corp)

Effect of Termination and Abandonment. (a) In Subject to the terms of Section 7.6, in the event of a termination of this Agreement and the abandonment of the Merger pursuant to this Article ARTICLE VII, this Agreement (other than this Section 7.5, Section 4.3(b) and Section8.2(a)) shall become void and of no effect with no liability on the part of any party hereto (or of any of its directors, officers, employees, consultants, contractors, agents, legal and financial advisors advisors, or other Representativesrepresentatives); provided, other than the provisions of this Section 7.5 and Section 7.6; PROVIDEDhowever, HOWEVER, that, that except as otherwise provided herein, no such termination shall relieve any party hereto of any liability or damages resulting from any willful or intentional breach of this Agreement.

Appears in 1 contract

Samples: Merger Agreement (Premier Classic Art Inc)

Effect of Termination and Abandonment. (a) In the event of a termination of this Agreement and the abandonment of the Merger pursuant to this Article ARTICLE VII, this Agreement (other than this Section 7.5, Section 4.3(c), Section 5.16 and Section 8.2(a)) shall become void and of no effect with no liability on the part of any party hereto (or of any of its directors, officers, employees, consultants, contractors, agents, legal and financial advisors advisors, or other Representativesrepresentatives); provided, other than the provisions of this Section 7.5 and Section 7.6; PROVIDEDhowever, HOWEVER, that, that except as otherwise provided herein, no such termination shall relieve any party hereto of any liability or damages resulting from any willful or intentional breach of this Agreement.

Appears in 1 contract

Samples: Merger Agreement (Security With Advanced Technology, Inc.)

Effect of Termination and Abandonment. (a) In the event of a termination of this Agreement and the abandonment of the Merger Transaction pursuant to this Article VII, this Agreement shall become void and of no effect with no liability on the part of any party hereto (or of any of its directors, officers, employees, agents, legal and financial advisors or other Representatives), other than the Confidentiality Agreement, the provisions of this Section 7.5 7.5, Section 7.6 and Section 7.6Article VIII; PROVIDEDprovided, HOWEVERhowever, that, except as otherwise provided hereinin this Agreement, no such termination shall relieve any party hereto of any liability or damages resulting from any willful or intentional breach of this Agreement.. 53

Appears in 1 contract

Samples: Merger Agreement (Urs Corp /New/)

Effect of Termination and Abandonment. (a) In the event of a termination of this Agreement and the abandonment of the Merger pursuant to this Article VIIVIII, this Agreement (other than as set forth in Section 3.21, Section 3.22, Section 4.6, Section 4.9, the first sentence of Section 5.4(a), Section 5.8, this Section 8.2, Section 10.7, Section 10.8 and Section 10.9) shall become void and of no effect with no liability on the part of any party hereto (or of any of its directors, officers, employees, agents, legal and financial advisors Affiliates or other Representativesrepresentatives), other than the provisions of this Section 7.5 and Section 7.6; PROVIDED, HOWEVER, that, except as otherwise provided herein, no such termination shall relieve any party hereto of from any liability or for damages resulting from any willful or intentional breach of this Agreement.

Appears in 1 contract

Samples: Stock Purchase Agreement (M & F Worldwide Corp)

Effect of Termination and Abandonment. (a) In the event of a termination of this Agreement and the abandonment of the Merger pursuant to this Article ARTICLE VII, this Agreement (other than this SECTION 7.5, SECTION 4.4(B) and SECTION 8.2(A)) shall become void and of no effect with no liability on the part of any party hereto (or of any of its directors, officers, employees, consultants, contractors, agents, legal and financial advisors advisors, or other Representativesrepresentatives), other than the provisions of this Section 7.5 and Section 7.6; PROVIDED, HOWEVER, that, that except as otherwise provided herein, no such termination shall relieve any party hereto of any liability or damages resulting from any willful or intentional breach of this Agreement.

Appears in 1 contract

Samples: Merger Agreement (Premier Classic Art Inc)

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