Common use of Notice of Termination; Effect of Termination and Abandonment Clause in Contracts

Notice of Termination; Effect of Termination and Abandonment. The party hereto desiring to terminate this Agreement pursuant to this Article IX shall give written notice of such termination to the other parties hereto specifying the provision or provisions of this Article IX pursuant to which such termination is purportedly effected and including reasonable detail of the circumstances giving rise to such termination. If this Agreement is terminated pursuant to this Article IX, this Agreement shall become void and of no effect, other than the provisions of this Section 9.4, Section 9.5 and Article X, without any liability on the part of any party hereto or any of their respective representatives; provided, however, that nothing herein shall relieve or release a party from any Liabilities or damages arising out of the intentional, willful or fraudulent breach by such party of any of the representations, warranties, covenants or agreements set forth in any of the Deal Agreements.

Appears in 2 contracts

Samples: Merger Agreement (Everest Merger Sub, Inc.), Merger Agreement (Sport Chalet Inc)

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Notice of Termination; Effect of Termination and Abandonment. The party hereto desiring to terminate this Agreement pursuant to this Article IX VII shall give written notice of such termination to the other parties hereto specifying the provision or provisions of this Article IX VII pursuant to which such termination is purportedly effected and including reasonable detail of the circumstances giving rise to such termination. If this Agreement is terminated pursuant to this Article IXVII, this Agreement shall become void and of no effect, other than the provisions of this Section 9.4, Section 9.5 and Article X, without any liability on the part of any party hereto or any of their respective representatives; providedprovided that, however, that nothing herein no such termination shall relieve or release a any party from any Liabilities liability or damages arising out of the intentional, resulting from a willful or fraudulent and material breach by such party of any of the its representations, warranties, covenants or agreements set forth in this Agreement or fraud, in which case the non-breaching party shall be entitled to all rights and remedies available at law or in equity. Notwithstanding the forgoing, in no event shall any of the Deal Agreementsparty hereto be liable for punitive damages.

Appears in 1 contract

Samples: Merger Agreement (Mateon Therapeutics Inc)

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Notice of Termination; Effect of Termination and Abandonment. The party hereto desiring to terminate this Agreement pursuant to this Article IX VII shall give written notice of such termination to the other parties hereto specifying the provision or provisions of this Article IX VII pursuant to which such termination is purportedly effected and including reasonable detail of the circumstances giving rise to such termination. If this Agreement is terminated pursuant to this Article IXVII, this Agreement shall become void and of no effect, other than the provisions of this Section 9.47.05, Section 9.5 5.02(b), Section 7.06 and Article X, VIII without any liability on the part of any party hereto or any of their respective representativesequityholders or Representatives; provided, however, that nothing herein shall relieve or release a party from any Liabilities liabilities or damages arising out of the intentional, willful or fraudulent breach by such party of any of the representations, warranties, covenants or agreements set forth in this Agreement (including the failure by the Company to pay any of amounts due pursuant to Section 7.06). Notwithstanding the Deal Agreementsforgoing, in no event shall any party hereto be liable for punitive damages.

Appears in 1 contract

Samples: Merger Agreement (Comforce Corp)

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