Grounds for rescission Sample Clauses

Grounds for rescission. The employer may rescind an employment contract on the grounds referred to in chapter 8, section 1 of the Employment Contracts Act. The employer shall be entitled to treat an employment contract as dissolved in accordance with chapter 8, section 3 of the Employment Contracts Act. The employer may lay off a salaried employee for a fixed period without observing a period of notice on grounds upon which the employment contract could be terminated or rescinded.
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Grounds for rescission. The following event shall be deemed grounds for rescission of this Agreement and the Exchange as provided herein (each a “Rescission Event”): (a) A delisting notice received by FOXO at any time within four months of closing unless such delisting is withdrawn or suspended within 60 days of receipt (b) failure of Rennova to comply with Section 6.10 above within the period provided therein or a material difference between the Financial Statements and the Rennova 8-K Financial Statements.
Sample 1
Grounds for rescission. The following events shall be deemed grounds for rescission of this Agreement and the Exchange as provided herein (each a “Rescission Event”): (a) during the period ending one hundred and twenty (120) days following the Closing Date, MEI or Shareholder declares a breach by BCI of any representation or warranty contained in this Agreement or of any covenant contained in this Agreement, which inaccuracy or breach has resulted in a BCI Material Adverse Effect, and which cannot be, or has not been, cured within ten (10) days after written notice of such breach is given to BCI by MEI or Shareholder; (b) during the period ending one hundred and twenty (120) days following the Closing Date, BCI declares a breach by MEI or Shareholder of any representation or warranty contained in this Agreement or of any covenant contained in this Agreement, which inaccuracy or breach has resulted in a Material Adverse Effect, and which cannot be, or has not been, cured within ten (10) days after written notice of such breach is given to MEI or Shareholder by BCI; or (c) during the period ending one hundred and twenty (120) days following the Closing Date, BCI or MEI becomes Insolvent.
Sample 1
Grounds for rescission. (a) Each Party may rescind this Share Purchase Agreement if the closing condition under Clause 4.2 (a) are not met at all (in particular due to a required approval being denied) or have not been met by [*]. The Purchaser may rescind this Share Purchase Agreement if the closing condition under Clause 4.2 (b) is not met on the Closing Date. In case the Purchaser has after 8 calender days following the expert agreed upon in Clause 4.2 (b) has determined the lack of the closing condition under Clause 4.2
Sample 1
Grounds for rescission. Breach by the Customer of any of its obligations under this Agreement shall be cause for rescission of this Agreement and shall proceed to the cancellation of the Compliance Certification and/or Product Opinion, as the case may be, with no liability whatsoever accruing to ULM. In the event of breach, ULM will notify the Customer in writing, and if feasible, will request that such situation be corrected within the deadline established by ULM for that purpose. ULM will suspend the Compliance Certificate when, as a result of the analysis and evaluation or a Verification, is found that the Product does not satisfy the respective standards, the ULM Requirements or any of the assumptions set in the Certification schemes (modalities) of the Compliance Evaluation Policies and Procedures, and in those cases a deadline will be granted for the Customer to make the corrections and/or clarifications it deems relevant. In the event that the Customer fails to make the corrections needed to mitigate the violation as mentioned above, ULM will cancel the respective Compliance Certificate or Product Opinion and may rescind this Agreement by means of written notice, notwithstanding the applicable penalties in accordance with the Federal Metrology and Standardization Act, the Federal Consumer Protection Law, and other applicable laws. Moreover, ULM will undertake to cancel a Compliance Certification and/or Product Opinion of Modality III when: The On-Site Visit cannot be carried out because of a non-existent domicile or company and this is confirmed by ULM personnel. Because of an extension of ownership, any of the importers, distributors, or marketers misuses the Compliance Certification that has been awarded; The Customer improperly uses the Marks and/or ULM Corporate Identity; In case of piracy, counterfeit, imitation and/or violation of patents, marks or any other distinctive sign, as well as in case that any Customer’s Product violates or breach, in any way, any intelectual property right of a third party. At the express request of the Customer, subject to prior written notice. In the event that ULM decides to cancel the respective Compliance Certification in accordance with the above, ULM must notify the Customer in writing, and the Customer must immediately refrain from using the Marks and/or ULM Corporate Identity in its advertising and in the Product, and must deliver to ULM, within a maximum of 5 (five) calendar days following the notification, the original Complianc...
Sample 1
Grounds for rescission. The following events shall be deemed grounds for rescission of this Agreement and the Exchange as provided herein (each a “Rescission Event”): (a) failure of HereLab or the Shareholders to comply with Section 6.11 above within the period provided therein or a material difference between the HereLab Financial Statements and the HereLab 8-K Financial Statements; (b) during the period ending 90 days following the Closing Date, HereLab or a Shareholder declares a breach by IIOT of any representation or warranty contained in this Agreement or of any covenant contained in this Agreement, which inaccuracy or breach has resulted in a IIOT Material Adverse Effect, and which cannot be, or has not been, cured within ten days after written notice of such breach is given to IIOT by HereLab or a Shareholder; (c) during the period ending 90 days following the Closing Date, IIOT declares a breach by HereLab or any Shareholder of any representation or warranty contained in this Agreement or of any covenant contained in this Agreement, which inaccuracy or breach has resulted in a HereLab Material Adverse Effect, and which cannot be, or has not been, cured within ten days after written notice of such breach is given to HereLab or the Shareholder by IIOT; or (d) during the period ending 90 days following the Closing Date, IIOT becomes Insolvent.
Sample 1

Related to Grounds for rescission

  • Rescission Waiver The Purchaser understands and acknowledges that an exemption from the registration requirements of the Securities Act requires there be no general solicitation of purchasers of the Units. In this regard, if the Offering were deemed to be a general solicitation with respect to the Units, the offer and sale of such Units may not be exempt from registration and, if not, the Purchaser may have a right to rescind its purchase of the Units. In order to facilitate the completion of the Offering and in order to protect the Company, its shareholders and the Trust Account from claims that may adversely affect the Company or the interests of its shareholders, the Purchaser hereby agrees to waive, to the maximum extent permitted by applicable law, any claims, right to xxx or rights in law or arbitration, as the case may be, to seek rescission of its purchase of the Units as a result of the issuance of the Units being deemed to be in violation of Section 5 of the Securities Act. The Purchaser acknowledges and agrees this waiver is being made in order to induce the Company to sell the Units to the Purchaser. The Purchaser agrees the foregoing waiver of rescission rights shall apply to any and all known or unknown actions, causes of action, suits, claims or proceedings (collectively, “Claims”) and related losses, costs, penalties, fees, liabilities and damages, whether compensatory, consequential or exemplary, and expenses in connection therewith, including reasonable attorneys’ and expert witness fees and disbursements and all other expenses reasonably incurred in investigating, preparing or defending against any Claims, whether pending or threatened, in connection with any present or future actual or asserted right to rescind the purchase of the Units hereunder or relating to the purchase of the Units and the transactions contemplated hereby.

  • Acceleration of Maturity; Rescission and Annulment If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Holders of at least a majority of the Outstanding Amount of the Notes of the Controlling Class, acting together as a single Class, may, without the consent of the Certificateholder, declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount of the Notes of the Controlling Class, acting together as a single Class, without the consent of the Certificateholder, in each case, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (a) the Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (i) all payments of principal of and interest on the respective Class of Notes and all other amounts that would then be due hereunder or in accordance with the terms of the Notes if the Event of Default giving rise to such acceleration had not occurred; and (ii) all sums paid or advanced by the Indenture Trustee hereunder or by the Owner Trustee under the Trust Agreement and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and the Owner Trustee and their respective agents and counsel; and (b) all Events of Default, other than the nonpayment of the principal or interest of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

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