Common use of Procedure for and Effect of Termination Clause in Contracts

Procedure for and Effect of Termination. In the event of termination of this Agreement and abandonment of the transactions contemplated hereby by the parties pursuant to Section 8.1(b), Section 8.1(c), Section 8.1(d), Section 8.1(e), or Section 8.1(f), written notice thereof shall be given by the party so terminating to the other party and, except as provided in this Section 8.2, this Agreement shall forthwith terminate and shall become null and void and of no further effect, and the transactions contemplated hereby shall be abandoned without further action by Seller or Buyer. Nothing in this Article 8 shall be deemed to release either party from any liability for any breach by such party of the terms and provisions of this Agreement or to impair the right of either party to compel specific performance by the other party of its obligations under this Agreement. If this Agreement is terminated pursuant to Section 8.1: (a) Each party shall redeliver all documents, work papers and other materials of the other party relating to the transactions contemplated hereby, whether so obtained before or after the execution hereof, to the party furnishing the same, and all confidential information received by any party with respect to the other party shall remain confidential; and (b) All filings, applications and other submissions, if any, made pursuant to this Agreement shall, at the option of Seller and to the extent practicable, be withdrawn from the agency or other Person to which they were made.

Procedure for and Effect of Termination. In the event of termination of this Agreement and abandonment of the transactions contemplated hereby by the parties hereto pursuant to Section 8.1(b), Section 8.1(c), Section 8.1(d), Section 8.1(e), or Section 8.1(f), written notice thereof shall be given by the party so terminating to the other party and, except as provided in this Section 8.2, this Agreement shall forthwith terminate and shall become null and void and of no further effect, and the transactions contemplated hereby shall be abandoned without further action by Seller or Buyer. Nothing in this Article 8 shall be deemed to release either party from any liability for any breach by such party of the terms and provisions of this Agreement or to impair the right of either party to compel specific performance by the other party of its obligations under this Agreement. If this Agreement is terminated pursuant to Section 8.1: (a) Each party shall redeliver all documents, work papers and other materials of the other party relating to the transactions contemplated hereby, whether so obtained before or after the execution hereof, to the party furnishing the same, and all confidential information received by any party hereto with respect to the other party shall remain confidential; and; (b) All filings, applications and other submissions, if any, made pursuant to this Agreement shall, at the option of Seller Sellers and to the extent practicable, be withdrawn from the agency or other Person to which they were made.; and