Common use of Termination by Tahoe Clause in Contracts

Termination by Tahoe. Tahoe, when not in material default in the performance of its obligations under this Agreement may, in its sole discretion, terminate this Agreement by written notice to the Shareholder if: (a) any of the representations and warranties of the Shareholder under this Agreement shall not be true and correct in all material respects; or (b) the Shareholder shall not have complied in all material respects with any of his, her or its covenants to Tahoe contained in this Agreement; provided, however, that such termination shall be without prejudice to any rights which Tahoe may have as a result of any default by the Shareholder prior to such termination.