Termination if Closing Does not Occur Sample Clauses
The 'Termination if Closing Does not Occur' clause allows either party to end the agreement if the transaction fails to close by a specified deadline. Typically, this clause sets a clear date or set of conditions by which the closing must happen, and if those are not met, either party may provide notice to terminate the contract without penalty. Its core function is to provide certainty and an exit mechanism, protecting both parties from being indefinitely bound to a deal that is not progressing to completion.
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Termination if Closing Does not Occur. Notwithstanding anything herein to the contrary, in the event that the Purchase Agreement is terminated, or the Closing does not occur prior to the date that is twelve (12) months following the Grant Date, the Award (and the Profits Interest Units subject thereto) shall thereupon automatically and without further action be cancelled and forfeited without payment of any consideration therefor and this Agreement shall thereupon terminate and be of no further force or effect.
Termination if Closing Does not Occur. This Agreement and the transactions contemplated hereby may be terminated at any time prior to the Closing, as follows:
(a) By written consent of each of Elan, Firstar Milwaukee, and NOVA.
(b) By either Elan or NOVA, if NOVA with respect to Elan, or any of the Elan Entities with respect to NOVA, shall have failed to satisfy any of the conditions it is required to satisfy set forth in Article VIII hereof.
(c) By either Elan or NOVA if the Closing has not occurred by April 1, 1998.
Termination if Closing Does not Occur. Should Closing not occur at the time set for Closing under Article 3.2.1 due to any default or failure to satisfy any condition or contingency by IMPA, this Agreement shall immediately terminate with Louisville having no further obligation or liability
Termination if Closing Does not Occur. Should Closing not occur at the time set for Closing under Articles 3.2.1 or 3.3, as the case may be, due to any default or failure to satisfy any condition or contingency by IMEA, this Agreement shall immediately terminate with Louisville having no further obligation or liability hereunder. In such event, IMEA shall remain pursuant to Article 3.5.
Termination if Closing Does not Occur. This Agreement and the transactions contemplated hereby may be terminated at any time prior to the Closing, as follows:
(a) By written consent of both KeyBank and NOVA.
(b) By either party if the other party shall have failed to satisfy any of the conditions set forth in Article VIII hereof that it is required to satisfy, and such other party is unwilling or unable to satisfy such conditions on or before June 30, 1998.
(c) By either KeyBank or NOVA if the Closing has not occurred by June 30, 1998.