Common use of Procedures Upon Termination Clause in Contracts

Procedures Upon Termination. In the event of termination pursuant to this Section 14, written notice shall forthwith be given to the other party or parties, and the Transaction shall be abandoned, without further action by any party hereto; provided, however, that, nothing contained herein shall be construed to prevent any parties hereto from pursuing any remedy available at law or in equity for any breach, violation, default or other failure of performance of any other party hereto prior to Closing.

Appears in 2 contracts

Samples: Asset Purchase Agreement (Optimal Group Inc), Asset Purchase Agreement (Optimal Group Inc)

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Procedures Upon Termination. In the event of termination pursuant to this Section 14Article VIII, written notice shall forthwith be given to the other party or parties, and the Transaction transactions contemplated hereby shall be abandoned, without further action by any party hereto; provided, however, that, that nothing contained herein shall be construed to prevent any parties hereto from pursuing any remedy available at law or in equity for any breach, violation, default or other failure of performance of any other party hereto prior to Closing.

Appears in 1 contract

Samples: Asset Purchase Agreement (Millennium Biotechnologies Group Inc)

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Procedures Upon Termination. In the event of termination pursuant to this Section 14, written notice shall forthwith be given to the other party or parties, and the Transaction transactions contemplated hereby shall be abandoned, without further action by any party hereto; provided, however, that, that nothing contained herein shall be construed to prevent any parties hereto from pursuing any remedy available at law or in equity for any breach, violation, default or other failure of performance of any other party hereto prior to Closing.. TIDEL NCR Final 021805 NCR & TIDEL CONFIDENTIAL

Appears in 1 contract

Samples: Asset Purchase Agreement (Tidel Technologies Inc)

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