Common use of Termination by Buyer or Seller Clause in Contracts

Termination by Buyer or Seller. This Agreement may be terminated by Buyer or Seller at any time after September 30, 1996 (the "Termination Date") in the event that any condition set forth in Sections 6 or 7 hereof has not been satisfied or tendered by the party owing performance for any reason other than a material breach or default by such party of its respective covenants, agreements, or other obligations under this Agreement, or waived by the party for whose benefit the condition is intended. Upon such termination, neither Buyer nor Seller shall have any further obligation or liability to the other hereunder, except that Sections 14, 15, 16.05, 16.06 and 16.07 of this Agreement shall survive and continue in full force and effect notwithstanding such termination.

Termination by Buyer or Seller. This Agreement may be terminated by Buyer or Seller at any time after September 30, 1996 1998 (the "Termination Date") in the event that any condition set forth in Sections 6 Articles IX or 7 X hereof has not been satisfied or tendered by the party owing performance for any reason other than a material breach or default by such party of its respective covenants, agreements, or other obligations under this Agreement, or waived by the party for whose benefit the condition is intended. Upon , and upon such termination, and unless due to a default under Section 13.3, neither Buyer Buyers nor Seller Sellers shall have any further obligation or liability to the other hereunder, except that Sections 14, 15, 16.05, 16.06 16.5 and 16.07 16.6 of this Agreement shall survive and continue in full force and effect notwithstanding such termination.

Termination by Buyer or Seller. This Agreement may be terminated by Buyer or Seller at any time after September 30October 31, 1996 1998 (the "Termination Date") in the event that any condition set forth in Sections 6 or 7 hereof has not been satisfied or tendered by the party owing performance for any reason other than a material breach or default by such party of its respective covenants, agreements, or other obligations under this Agreement, or unless such condition has been waived by the party for whose benefit the condition is intended. Upon such termination, neither Buyer nor Seller shall have any further obligation or liability to the other hereunder, except that Sections 14, 15, 16.05, 16.06 and 16.07 of this Agreement shall survive and continue in full force and effect notwithstanding such termination.