Common use of Failure to Obtain Buyer Approvals Clause in Contracts

Failure to Obtain Buyer Approvals. If Buyer (i) on any date notifies Seller that its management has refused to provide Buyer’s Corporate Approval or (ii) has not notified Seller that it has received Buyer’s Corporate Approval by September 15, 2013, or (iii) on any date notifies Seller that it has received an order of the MDPU regarding this Agreement that is not acceptable in form and substance to Buyer in its sole discretion or (iv) has not notified Seller that it has received the Regulatory Approval by July 1, 2014, either Party may terminate this Agreement within thirty (30) days after such date by delivery of written notice to the other Party in accordance with Section 17. Upon such termination, neither Party shall have any further liability hereunder except for any obligations arising under Sections 6.3 and 12 which accrued prior to such termination.

Failure to Obtain Buyer Approvals. If Buyer (i) on any date notifies Seller that its management has refused to provide Buyer’s Corporate Approval Approval, or (ii) has not notified Seller that it has received Buyer’s Corporate Approval by September 15, 2013, or (iii) on any date notifies Seller that it has received an order of the MDPU regarding this Agreement that is not acceptable in form and substance to Buyer in its sole discretion or (iv) has not notified Seller that it has received the Regulatory Approval by July 1, 2014, either Party may terminate this Agreement within thirty (30) days after such date by delivery of written notice to the other Party in accordance with Section 17. Upon such termination, neither Party shall have any further liability hereunder except for any obligations arising under Sections 6.3 and 12 which accrued prior to such termination.