Effects of Rescission. In the event that CNH rescinds this Contract pursuant to Articles 23.1 or 23.2 the following shall apply:
Effects of Rescission. (1) When a consumer rescinds a transaction, the security interest giving rise to the right of rescission becomes void, and the consumer shall not be liable for any amount, including any finance charge.
Effects of Rescission. The Parties acknowledge and agree that it is the intent of the Parties that if any material transaction constituting the Transactions (as hereinafter defined) is declared null, void or otherwise is avoided, rescinded or set aside, the Parties be restored to their respective positions as existed prior to entering into this Agreement. Accordingly, if at any time prior to the third anniversary of the Closing, a court of competent jurisdiction issues a final order (which is not subject to appeal by any party or with respect to which the time to appeal shall have expired) in any action, suit or proceeding brought by a third party declaring that any of the material transactions contemplated by and to be consummated pursuant to this Agreement and each of the Additional Agreements are null, void or are otherwise avoided, rescinded or set aside, then the Transactions shall be rescinded and each party shall be effectively restored to its position immediately prior to the Closing Date. Without limiting the generality of the foregoing, (a) each party's rights and obligations under this Agreement and each Additional Agreement shall be terminated, (b) the securities transferred by such party at the Closing shall be returned to it, together with any and all distributions in cash, securities, assets or other property made upon or in respect of such transferred securities from the Closing to the date of such return; and (c) all claims released hereunder by any party hereto shall be revived and any statute of limitations or contractual limitations applicable to such claim shall be restarted irrespective of whether such statute of limitations or contractual limitation would have otherwise caused such claim to expire. No party shall be required to return amounts paid to it by the other with respect to services rendered during the period from the Closing Date to the date the Transactions are declared null and void or are otherwise void, rescinded or set aside, including, but not limited to, payments made in accordance with the Transponder Agreement.
Effects of Rescission. 9.2.1 Unless otherwise provided herein, after this Agreement is rescinded in accordance with any item in Article 9.1, this Agreement shall be invalidated immediately except for Article 8 to Article 12, which shall survive such rescission.
Effects of Rescission. 1. As to the parties – mutual restitution of the objects of the contract, together with their fruits and the price with its interest (Art. 1385).
