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 the Agreement shall terminate without further liability of any party hereunder except (i) to the extent that a party has made a material misrepresentation hereunder or committed a breach of any material covenant and agreement imposed upon it hereunder; (ii) 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 (iii) that the agreements contained in Sections 4.8 and 4.10 shall survive the termination hereof. 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 4 contracts

Samples: Asset Purchase Agreement (Premier Parks Inc), Stock Purchase Agreement (Premier Parks Inc), Asset Purchase Agreement (Premier Parks Inc)

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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 7.28.1, all further obligations of the parties under the Agreement shall terminate without further liability Liability of any party hereunder except (i) to the extent that a party has made a material misrepresentation hereunder or committed a breach of any material covenant and agreement imposed upon it hereunder; (ii) 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 (iii) that the agreements contained in Sections 4.8 6.8, 6.9 and 4.10 6.10 shall survive the termination hereof. 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: Equity Purchase Agreement (Primus Telecommunications Group 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 the Agreement shall terminate without further liability of any party hereunder except (i) to the extent that a party has made a material misrepresentation hereunder or committed a breach of any material covenant and agreement imposed upon it hereunder; (ii) 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 hereunder; and (iii) that the agreements contained in Sections 4.8 4.8, 4.9, and 4.10 4.11, Article VI and this Section 7.3 shall survive the termination hereof. 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 (Six Flags 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 the Agreement shall terminate without further liability of any party hereunder except (ia) to the extent that a party has made a material misrepresentation hereunder or committed a breach of any material covenant and agreement imposed upon it hereunder; (iib) 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 hereunder; and (iiic) that the agreements contained in Sections 4.8 3.8 and 4.10 3.9 shall survive the termination hereof. 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. VII.

Appears in 1 contract

Samples: Stock Purchase Agreement (Marketing Services Group 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 7.27.1, all further obligations of the parties under the Agreement shall terminate without further liability of any party hereunder except (i) to the extent that a party has made a material misrepresentation hereunder or committed a breach of any the material covenant covenants and agreement agreements imposed upon it hereunder; , (ii) 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 hereunder, (iii) that the agreements contained in Sections 4.7, 4.8 and 4.10 4.9 shall survive the termination hereof. 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: Merger Agreement (Dynamic Healthcare Technologies Inc)

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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 7.28.1, all further obligations of the parties under the Agreement shall terminate without further liability Liability of any party hereunder except (i) to the extent that a party has made a material misrepresentation hereunder or committed a breach of any material covenant and agreement imposed upon it hereunder; (ii) 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 (iii) that the agreements contained in Sections 4.8 6.8, 6.9 and 4.10 6.11 shall survive the termination hereof. 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: Asset Purchase Agreement (Primus Telecommunications Group 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 7.27.1, all further obligations of the parties under the Agreement shall terminate without further liability of any party hereunder except (i) to the extent that a party has made a material misrepresentation hereunder or committed a breach of any the material covenant covenants and agreement agreements imposed upon it hereunder; (ii) to the extent that any condition to a party's obligations hereunder became incapable of fulfillment because of the breach by a the other party of its obligations hereunder and (iii) that the covenants and agreements contained in Sections 4.5, 4.7, 4.8 and 4.10 4.9 shall survive the termination hereof. 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 (Transtech Industries 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 7.27.1, all further obligations of the 42 parties under the Agreement shall terminate without further liability of any party hereunder except (i) to the extent that a party has made a material misrepresentation hereunder or committed a breach of any the material covenant covenants and agreement agreements imposed upon it hereunder; (ii) 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 (iii) that the agreements contained in Sections 4.8 4.8, 4.9 and 4.10 shall survive the termination hereof. 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 (Family Bargain Corp)

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