Common use of Right Not to Close Clause in Contracts

Right Not to Close. Each of the conditions set forth in Section 5.1 is for the benefit of DevCo, and the DevCo Board may, in its sole and absolute discretion, determine whether to waive any condition, in whole or in part. Any determination made by the DevCo Board concerning the satisfaction or waiver of any or all of the conditions set forth in Section 5.1 will be conclusive and binding on the Parties. The satisfaction of the conditions set forth in Section 5.1 will not create any obligation on the part of DevCo to any other Person to effect any of the Transactions or in any way limit DevCo’s right to terminate this Agreement and the Ancillary Agreements as set forth in Section 12.1 or alter the consequences of any termination from those specified in Section 12.2.