Common use of Termination of Agreement During Due Diligence Period Clause in Contracts

Termination of Agreement During Due Diligence Period. If, for any reason whatsoever, Buyer, in its sole and exclusive discretion, shall be dissatisfied, in whole or in part, with the results of its due diligence investigation, it may, at any time prior to the Due Diligence Termination Date, terminate this Agreement by written notice of termination ("TERMINATION NOTICE") to Seller's attorney. For purposes of this Section 7(c), fax notice, to the fax number indicated in Article 14 of this Agreement, shall be acceptable. If Buyer elects to terminate this Agreement as aforesaid, this Agreement shall be null and void and be of no further force and effect, and neither party shall have any further obligations to the other party. If a Termination Notice is not sent to Seller's attorney on or before the Due Diligence Termination Date, this Agreement shall continue in full force and effect in accordance with its terms. Termination of this Agreement in accordance with this provision shall also constitute termination of the other three Ovox Acquisition Agreements.

Appears in 4 contracts

Samples: Asset Purchase Agreement (Town Sports International Inc), Asset Purchase Agreement (Town Sports International Inc), Asset Purchase Agreement (Town Sports International Inc)

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