Common use of Effect of Termination; Right to Proceed Clause in Contracts

Effect of Termination; Right to Proceed. Subject to the provisions of Section 7.1 hereof, in the event that this Agreement shall be terminated pursuant to Section 7.2, all further obligations of the parties under this Agreement shall terminate without further liability of any party hereunder except that: (i) the agreements contained in Section 4.2 shall survive the termination hereof; and (ii) termination shall not preclude any party from seeking relief against any other party for breach of Section 4.2. In the event that a condition precedent to its obligation is not met, nothing contained herein shall be deemed to require any party to terminate this Agreement, rather than to waive such condition precedent and proceed with the Contemplated Transactions.

Appears in 16 contracts

Samples: Share Purchase And (Sustainable Green Team, Ltd.), Equity Exchange Agreement, Equity Exchange Agreement (Drone USA Inc.)

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Effect of Termination; Right to Proceed. Subject to the provisions of Section 7.1 hereof, in the event that this Agreement shall be terminated pursuant to Section 7.2, all further obligations of the parties under this Agreement shall terminate without further liability of any party hereunder except that: (i) the agreements contained in Section 4.2 and Section 4.3 shall survive the termination hereof; and (ii) termination shall not preclude any party from seeking relief against any other party for breach of Section 4.24.2 or Section 4.3. In the event that a condition precedent to its obligation is not met, nothing contained herein shall be deemed to require any party to terminate this Agreement, rather than to waive such condition precedent and proceed with the Contemplated Transactions.

Appears in 3 contracts

Samples: Stock Purchase and Recapitalization Agreement (Bluestar Health, Inc.), Agreement and Plan (Bluestar Health, Inc.), Agreement and Plan (Bluestar Health, Inc.)

Effect of Termination; Right to Proceed. Subject to the provisions of Section 7.1 hereof, in In the event that this Agreement shall be terminated pursuant to Section 7.2this Article VI, all further obligations of the parties under this the Agreement shall terminate without further liability of any party hereunder (except that: with respect to Section 4.6 (iConfidentiality), Section 4.7 (Public Announcements), and Section 4.8 (Expenses) the as provided below). The agreements contained in Section 4.2 Sections 4.6, 4.7 and 4.8 shall survive the termination hereof; and (ii) termination shall not preclude any party from seeking relief against any other party for breach of Section 4.2. In the event that a condition precedent to its obligation is not met, nothing contained herein shall be deemed to require any party to terminate this Agreement, rather than to waive such condition precedent and proceed with the Contemplated TransactionsMerger and the other transactions contemplated hereby.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Zhong Sen International Tea Co), Agreement and Plan of Merger (Tenthgate Inc)

Effect of Termination; Right to Proceed. Subject to the provisions of Section 7.1 hereof, in the event that this Agreement shall be terminated pursuant to Section 7.2, all further obligations of the parties under this Agreement shall terminate without further liability of any party hereunder except that: that (i) the agreements contained in Section 4.2 Sections 4.8, 4.9 and 4.10 shall survive the termination hereof; hereof and (ii) termination shall not preclude any party from seeking relief against any other party for breach of Section 4.2this Agreement. In the event that a condition precedent to its obligation is not met, nothing contained herein shall be deemed to require any party to terminate this Agreement, rather than to waive such condition precedent and proceed with the Contemplated Transactions.

Appears in 2 contracts

Samples: Stock Purchase Agreement (Preferred Employers Holdings Inc), Stock Purchase Agreement (Preferred Employers Holdings Inc)

Effect of Termination; Right to Proceed. Subject to the provisions of Section 7.1 6.1 hereof, in the event that this Agreement shall be terminated pursuant to Section 7.26.2, all further obligations of the parties under this the Agreement shall terminate without further liability of any party hereunder except that: (i) the agreements contained in Section 4.2 hereunder; PROVIDED, HOWEVER, that a party shall survive the termination hereof; and (ii) termination shall not preclude any party from seeking relief against any other party remain liable for its breach of Section 4.2any of its representations, warranties or obligations under this Agreement. In the event that a condition precedent to its obligation is not met, nothing contained herein shall be deemed to require any party to terminate this Agreement, rather than to waive such condition precedent and proceed with the Contemplated Transactions.

Appears in 2 contracts

Samples: Contribution Agreement (Dylan LLC), Contribution Agreement (Atlantis Equities Inc)

Effect of Termination; Right to Proceed. Subject to the provisions of Section 7.1 hereof, in the event that this Agreement shall be terminated pursuant to Section 7.2, all further obligations of the parties under this Agreement shall terminate without further liability of any party hereunder except that: (i) the agreements contained in Section 4.2 shall survive the termination hereof; and (ii) termination shall not preclude any party from seeking relief against any other party for breach of Section 4.2. In the event that a condition precedent to its obligation is not met, nothing contained herein shall be deemed to require any party to terminate this Agreement, rather than to waive such condition precedent and proceed with the Contemplated Transactions.. ARTICLE VIII

Appears in 1 contract

Samples: Stock Purchase and Recapitalization Agreement

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Effect of Termination; Right to Proceed. Subject to the provisions of Section 7.1 hereof, in In the event --------------------------------------- that this Agreement shall be terminated pursuant to Section 7.2(b) or (f), all further obligations of the parties under this the Agreement shall terminate without further liability of any party hereunder (except that: (i) the with respect to Section 4.6, 4.8, 4.9 and 4.10 as provided below). The agreements contained in Section 4.2 Sections 4.6, 4.8, 4.9 and 4.10 shall survive the termination hereof; and (ii) termination shall not preclude any party from seeking relief against any other party for breach of Section 4.2. In the event that a condition precedent to its obligation is not met, nothing contained herein shall be deemed to require any party to terminate this Agreement, rather than to waive such condition precedent and proceed with the Contemplated Transactions.

Appears in 1 contract

Samples: Stock Purchase Agreement (Paramount Financial Corp)

Effect of Termination; Right to Proceed. Subject to the provisions of Section 7.1 hereof, in In the event that this Agreement shall be terminated pursuant to Section 7.28.1, all further obligations of the parties under this Agreement shall terminate without further liability of any party hereunder except that: (i) to the extent that any condition to a party's obligations hereunder became incapable of fulfillment because of the breach by a party of its obligations hereunder and except (ii) that the agreements contained in Section 4.2 5.7 shall survive the termination hereof; and (ii) termination shall not preclude any party from seeking relief against any other party for breach of Section 4.2. In the event that a condition precedent to its obligation is not met, nothing contained herein shall be deemed to require any party to terminate this Agreement, rather than to waive such condition precedent and proceed with the Contemplated Transactionstransactions contemplated hereby.

Appears in 1 contract

Samples: Share Purchase Agreement (Telepassport Inc)

Effect of Termination; Right to Proceed. Subject to the provisions of Section 7.1 hereof, in the event that this Agreement shall be terminated pursuant to Section 7.2, all further obligations of the parties under this Agreement shall terminate without further liability of any party hereunder except that: (i) the agreements contained in Section 4.2 and Section 4.3 shall survive the termination hereof; and (ii) termination shall not preclude any party from seeking relief against any other party for breach of Section 4.24.2 or Section 4.3. In the event that a condition precedent to its obligation is not met, nothing contained herein shall be deemed to require any party to terminate this Agreement, rather than to waive such condition precedent and proceed with the Contemplated Transactions.. Zeon-BlueStar Stock Purchase & Recap Agmt Final

Appears in 1 contract

Samples: Stock Purchase and Recapitalization Agreement (Bluestar Health, Inc.)

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