Termination Followina Initial Closing Clause Samples

Termination Followina Initial Closing. (a) In the event that this Agreement is terminated in accordance with Article VI for any reason by either or both parties following the Initial Closing, the Purchaser shall have the right, exercisable by written notice to the Company within 15 days following the date of termination, to require that the Company purchase all of the outstanding Preferred Stock and any outstanding Shares for an amount in cash equal to the sum of (x) the Initial Closing Purchase Price plus (y) an amount equal to 111% of the liquidation preference of any Preferred Stock received as a dividend prior to the consummation of the purchase plus (z) without duplication, all accrued and unpaid dividends (which if in shares of Preferred Stock shall be valued at 111% of the liquidation preference thereof) on the securities being purchased prior to the consummation of the purchase (the "Section 7.4