Common use of Failure to Perform; Remedies Clause in Contracts

Failure to Perform; Remedies. In the event that the Closing is not consummated within six months after the date hereof, by virtue of a default made by a Party in the observance or in the due and timely performance of any of its covenants or agreements herein contained, the Party who has performed and satisfied its conditions precedent shall have such rights and remedies afforded it at law or in equity by reason of the other Party’s default or nonperformance.

Failure to Perform; Remedies. In the event that the Closing is not consummated within six months after the date hereofby December 31, 2002, by virtue of a default made by a Party in the observance or in the due and timely performance of any of its covenants or agreements herein contained, the Party who has performed and satisfied its conditions precedent shall have such rights and remedies afforded it at law or in equity by reason of the other Party’s default or nonperformance.