Common use of Non-Fulfilment Clause in Contracts

Non-Fulfilment. In the event that one or more of the conditions set forth in this Section 5.1 is not fulfilled on or before the Closing Date and the Purchaser does not waive such condition pursuant to this Section 5.1, the Purchaser may, in its discretion and upon delivery of written confirmation thereof to the Vendors, grant to the Vendors a thirty (30) day extension period to fulfill such condition. Any additional extension period may be agreed to in writing by the Parties. However, in the event that one or more of the conditions set forth in this Section 5.1 is not fulfilled on or before the extended date, the date agreed upon by the Parties or, at the latest, the Outside Date and the Purchaser does not waive such condition pursuant to this Section 5.1, the Purchaser may elect not to effect the Closing, and, if the Purchaser so elects, this Agreement shall be terminated, in which event none of the Vendors nor the Purchaser shall have any further obligations hereunder nor any liability, recourse or penalty against one another; provided that, if such condition is not fulfilled as a result of a voluntary breach of any representation or warranty of the Vendors, or the failure at the volition of the Vendors or the Targets to perform a covenant, obligation or undertaking to be performed by the Vendors or the Targets, such termination shall not prejudice the Purchaser’s right to pursue its legal remedies against the Vendors with respect to such voluntary breach or failure.

Non-Fulfilment. In the event that one or more of the conditions set forth in this Section 5.1 5.2 is not fulfilled on or before the Closing Date and the Purchaser does Vendors do not waive such condition pursuant to this Section 5.15.2, the Purchaser Vendors may, in its their discretion and upon delivery of written confirmation thereof to the VendorsPurchaser, grant to the Vendors Purchaser a thirty (30) day extension period to fulfill such condition. Any additional extension period may be agreed to in writing by the Parties. However, in the event that one or more of the conditions set forth in this Section 5.1 5.2 is not fulfilled on or before the extended date, the date agreed upon by the Parties or, at the latest, the Outside Date and the Purchaser does Vendors do not waive such condition pursuant to this Section 5.15.2, the Purchaser Vendors may elect not to effect the Closing, and, if the Purchaser Vendors so electselect, this Agreement shall be terminated, in which event none of the Vendors nor the Purchaser shall have any further obligations hereunder nor any liability, recourse or penalty against one another; provided that, if such condition is not fulfilled as a result of a voluntary breach of any representation or warranty of the VendorsPurchaser, or the failure at the volition of the Vendors or the Targets Purchaser to perform a covenant, obligation or undertaking to be performed by the Vendors or the Targetssuch Purchaser, such termination shall not prejudice the Purchaser’s right Vendors’ rights to pursue its their legal remedies against the Vendors Purchaser with respect to such voluntary breach or failure.