Common use of Termination by Purchaser Clause in Contracts

Termination by Purchaser. This Agreement may be terminated and the Merger may be abandoned at any time prior to the Effective Time, before or after the approval by the stockholders of the Company, by action of the Board of Directors of the Purchaser, if (a) the Board of Directors of the Company and the Special Committee shall have withdrawn or modified in a manner materially adverse to the Purchaser its approval or recommendation of this Agreement or the Merger, or (b) there has been a breach by the Company of any representation or warranty contained in this Agreement which would have or would be reasonably likely to have a Company Material Adverse Effect, or (c) there has been a material breach of any of the covenants or agreements set forth in this Agreement on the part of the Company, which breach is not curable or, if curable, is not cured within 30 days after written notice of such breach is given by the Purchaser to the Company; provided, however, that the existence of any facts, conditions or circumstances that the Purchaser, in light of its ownership of Company Common Stock and representation on the Board of Directors of the Company, knew as of the date hereof shall not be a basis for or give rise to any right of Purchaser to terminate this Agreement pursuant to (b) above due to a breach of a representation or warranty of the Company.

Appears in 4 contracts

Samples: Information Statement (Allmerica Financial Corp), Information Statement (Allmerica Financial Corp), Information Statement (Allmerica Financial Corp)

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Termination by Purchaser. This Agreement may be terminated and the Merger and the other Transactions may be abandoned at any time prior to the Effective Time, before or after the approval by the stockholders of the Companyholders of Common Stock, by action of the Board of Directors of Purchaser: (a) if, prior to the PurchaserTransition Time there has been a breach of any representation, warranty, covenant or agreement on the part of the Company set forth in this Agreement such that any of the conditions set forth in clause (f) or (g) of Exhibit A would not be satisfied (a "Terminating Company Breach"); provided, however, that, if such Terminating Company Breach is curable by the -------- ------- Company through the exercise of its reasonable best efforts and for so long as the Company continues to exercise such reasonable best efforts (abut in no event longer than thirty days after Purchaser's notification to the Company of the occurrence of such Terminating Company Breach), Purchaser may not terminate this Agreement under this Section 8.3(a); (b) if prior to the Transition Time (i) the Board of Directors of the Company and the Special Committee shall have withdrawn withdraws, modifies or modified in a manner materially adverse to the Purchaser changes its approval or recommendation of this Agreement or the Merger, Merger or other Transactions in a manner adverse to Purchaser or Merger Sub or (bii) there has been a breach by the Company of any representation or warranty contained in this Agreement which would have or would be reasonably likely to have a Company Material Adverse Effect, or (c) there has been a material breach of any of the covenants or agreements set forth in this Agreement on the part of the Company, which breach is not curable or, if curable, is not cured within 30 days after written notice of such breach is given by the Purchaser to the Company; provided, however, that the existence of any facts, conditions or circumstances that the Purchaser, in light of its ownership of Company Common Stock and representation on the Board of Directors of the Company, knew as Company shall have recommended to the stockholders of the date hereof shall not be Company any proposal involving a basis for or give rise to any right of Purchaser to terminate this Agreement pursuant to (b) above due to a breach of a representation or warranty of the CompanyCompeting Transaction.

Appears in 2 contracts

Samples: Merger Agreement (Pearson Merger Co Inc), Merger Agreement (All American Communications Inc)

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Termination by Purchaser. This Agreement may be terminated and the ------------------------ Merger may be abandoned at any time prior to the Effective Time, before or after the approval by the stockholders of the Company, by action of the Board of Directors of the Purchaser, if (a) the Board of Directors of the Company and the Special Committee shall have withdrawn or modified in a manner materially adverse to the Purchaser its approval or recommendation of this Agreement or the Merger, or (b) there has been a breach by the Company of any representation or warranty contained in this Agreement which would have or would be reasonably likely to have a Company Material Adverse Effect, or (c) there has been a material breach of any of the covenants or agreements set forth in this Agreement on the part of the Company, which breach is not curable or, if curable, is not cured within 30 days after written notice of such breach is given by the Purchaser to the Company; provided, however, that the existence of any facts, conditions or circumstances that the Purchaser, in light of its ownership of Company Common Stock and representation on the Board of Directors of the Company, knew as of the date hereof shall not be a basis for or give rise to any right of Purchaser to terminate this Agreement pursuant to (b) above due to a breach of a representation or warranty of the Company.

Appears in 1 contract

Samples: Merger Agreement (Allmerica Financial Corp)

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