Liabilities Upon Termination or Breach. 23 11. MISCELLANEOUS. ..................................................................... 23
Liabilities Upon Termination or Breach. (a) In the event of the termination of this Agreement by Seller in accordance with Section 10.1(a), Seller shall have no liability hereunder of any nature whatsoever to Buyer, including any liability for damages. If Buyer terminates this Agreement in accordance with Section 10.1(b) above, it shall have no liability hereunder of any nature whatsoever to the Seller including any liability for damages.
Liabilities Upon Termination or Breach. (a) In the event that the Closing does not occur as a result of a Party exercising its right to terminate pursuant to Section 10.01, then except as set forth in Section 10.02(b), this Agreement shall become null and void and no Party shall have any further rights or obligations hereunder; provided that, the provisions of Section 12.02 (Expenses), Section 12.03 (Notices), Section 12.04 (Amendments; Waiver), Section 12.06 (Announcements), Section 12.07 (Governing Law; Venue), Section 12.09 (Parties in Interest) and this Section 10.02 shall survive any such termination.
Liabilities Upon Termination or Breach. In addition to the remedies provided under applicable law, each Party shall have the right to recover damages for the breach by the other Party or Parties of any warranty, covenant or agreement contained herein or for the failure of a representation of the other Party or Parties contained in this Agreement to be true. In the event any Party wrongfully fails to consummate a Closing, the other Party or Parties shall have the following remedies in addition to any remedies provided under applicable law: If Buyer is the Party wrongfully failing to close, Sellers shall have the right to terminate Buyer's right to acquire any Assets not yet acquired by Buyer hereunder and the options provided for in Section 2.3 and Section 2.4 and Sellers shall have the right to recover all damages suffered by Sellers as a result of such failure and, if such failure occurs with respect to Euxxxx Xsland Blocks 64 and 65, Sellers shall in addition have the right to recover any amounts expended with respect to all AFEs approved as required under Section 2.5 or Section 9.1(b). If Sellers wrongfully fail to close, Sellers acknowledge that the remedies provided at law would be inadequate and that, as a result, Buyer shall be entitled to, and Sellers shall not object to, the remedy of specific performance to compel such performance.
Liabilities Upon Termination or Breach. (a) If this Agreement is terminated as permitted by Section 12.07, such termination shall be without liability of either Party (or any stockholder, director, officer, manager, member, employee, agent, consultant or representative of such Party) to the other Party; provided that if such termination shall result from the (i) willful failure of either Party to fulfill a condition to the performance of the obligations of the other Party, (ii) failure to perform a covenant of this Agreement or (iii) breach by either Party hereto of any representation or warranty or agreement contained herein, and in any such case there is not an unqualified right of termination available to such Party, such Party shall be fully liable for any and all Claims incurred or suffered by the other Party as a result of such failure or breach. The provisions of Sections 7.06, 12.08, 12.10 and 12.13 shall survive any termination hereof pursuant to Section 12.07.
Liabilities Upon Termination or Breach. In the event of the termination of this Agreement by Seller in accordance with Section 11.1(a), Seller shall pay Buyer $25,000 cash as liquidated damages for termination. If Buyer terminates this Agreement for any reason other than those described in Section 11.1(b) above, it shall pay Seller $200,000 as liquidated damages for termination. Any obligation under this Section 11.2 shall be payable immediately upon termination of this Agreement. In the event Buyer shall owe Seller liquidated damages under this Section, Buyer may at its sole election pay up to one-half of such liquidated damages in shares of Buyer's Common Stock
Liabilities Upon Termination or Breach. (a) In the event of the termination of this Agreement by Seller in accordance with Sections 13.1(a) or 13.1(d) above, Seller shall have no liability hereunder of any nature whatsoever to Purchaser, including any liability for Damages. If Purchaser terminates this Agreement in accordance with Section 13.1(b) or 13.1(d) above, or either Party terminates this Agreement pursuant to Sections 13.1(c) and 13.1(e) above, Purchaser shall have no liability hereunder of any nature whatsoever to Seller including any liability for Damages and Seller shall return the Deposit with all interest earned thereon, and the return of the Deposit shall constitute the sole and exclusive remedy of Purchaser as a result of any breach of this Agreement. If Purchaser terminates this Agreement other than in accordance with Sections 13.1(b), 13.1(c), 13.1(d) or 13.1(e) or, if Seller terminates this Agreement in accordance with Section 13.1(a) or 13.1(d), Seller shall retain the Deposit with all interest earned thereon and shall apply the Deposit against the amount of Seller’s Damages as liquidated damages in respect of Seller’s Damages, and the retention of such Deposit (together with such amounts as may be owed to Seller under Section 9.3. and such remedies as may be available to Seller under the Confidentiality Agreement) shall constitute the sole and exclusive remedy of Seller as a result of any breach of this Agreement.
Liabilities Upon Termination or Breach. (a) In the event of the termination of this Agreement by Seller in accordance with Section 10.1(a), 10.1(c), or 10.1(f), Seller shall have no liability hereunder of any nature whatsoever to Buyer, including any liability for damages. If Buyer terminates this Agreement in accordance with Section 10.1(b), 10.1(c), or 10.1(f) above, it shall have no liability hereunder of any nature whatsoever to Seller including any liability for damages. If this Agreement is terminated by Seller in accordance with Section 10.1(a) or 10.1(d) or Buyer in accordance with Section 10.1(b) or 10.1(e), then the terminating party shall have such legal or equitable remedies as may be provided by law for breach of this Agreement.
Liabilities Upon Termination or Breach. (a) In the event of the termination of this Agreement by Seller in accordance with subsection 11.1(a), Seller shall have no liability hereunder of any nature whatsoever to Buyer, including any liability for damages. If Buyer terminates this Agreement in accordance with subsection 11.1(b) above, it shall have no liability hereunder of any nature whatsoever to the Seller including any liability for damages and Seller shall return to Buyer the Buyer Common Stock delivered as part of the Earnxxx Xxxey pursuant to Exhibits "H" and "I" attached hereto. If Buyer terminates or fails to perform this Agreement other than in accordance with subsection 11.1(b), or, if Seller terminates this Agreement in accordance with subsection 11.1(a), Seller shall retain the Earnxxx Money and Buyer shall have no further liability hereunder of any nature whatsoever to the Seller including any liability for damages.
Liabilities Upon Termination or Breach. (a) In the event of the termination of this Agreement in accordance with Section 10.1 neither party hereto shall have any liability hereunder of any nature whatsoever to, including any liability for damages except as set forth in paragraphs (b) and (c) below.
