Common use of Termination Procedure Clause in Contracts

Termination Procedure. Any party having the right to terminate this --------------------- Agreement due to a failure of a condition precedent contained in Sections 7 or 8 hereto may terminate this Agreement by delivering to the other party written notice of termination, and thereupon, this Agreement will be terminated without obligation or liability of any party.

Appears in 4 contracts

Samples: Option to Purchase Stock Agreement (Biolynx Com Inc), Option to Purchase Employee/Customer Base (Biolynx Com Inc), Option to Purchase Employee/Customer Base (Biolynx Com Inc)

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Termination Procedure. Any party having the right to terminate this --------------------- Agreement due to a failure of a condition precedent contained in Sections 7 or 8 hereto may terminate this Agreement prior to Closing by delivering to the other party written notice of termination, and thereupon, this Agreement will be terminated without obligation or liability of any party.

Appears in 4 contracts

Samples: Share Exchange Agreement (Everlert Inc), Share Exchange Agreement (Everlert Inc), Share Exchange Agreement (Everlert Inc)

Termination Procedure. Any party having the right to terminate this --------------------- Agreement due to a failure of a condition precedent contained in Sections 7 or 8 hereto may terminate this Agreement by delivering to the other party written notice of termination, and thereupon, this Agreement will be terminated without obligation or liability of any party.

Appears in 4 contracts

Samples: Stock Purchase Agreement (Simonds Industries Inc), Option to Purchase Stock Agreement (Biolynx Com Inc), Stock Purchase Agreement (Stockeryale Inc)

Termination Procedure. Any party having the desiring to exercise its right to terminate this --------------------- Agreement due to a failure of a condition precedent contained in Sections 7 or 8 hereto may terminate this Agreement by delivering shall deliver to the other party written notice of termination in accordance with Section 13.6, stating with a reasonable degree of specificity the reason relied upon for such termination, and thereupon, this Agreement will be terminated without obligation or liability of any party.

Appears in 3 contracts

Samples: Asset Purchase Agreement (Medical Transcription Billing, Corp), Asset Purchase Agreement (Medical Transcription Billing, Corp), Asset Purchase Agreement (AgFeed Industries, Inc.)

Termination Procedure. Any party having the right to terminate this --------------------- Agreement due to a failure of a condition precedent contained in Sections 7 or 8 hereto may terminate this Agreement by delivering to the other party written notice of termination, and thereupon, this Agreement will be terminated without obligation or liability of any party in favor of any other party.

Appears in 3 contracts

Samples: Stock Purchase Agreement (Praegitzer Industries Inc), Stock Purchase Agreement (Utah Medical Products Inc), Stock Purchase Agreement (United Grocers Inc /Or/)

Termination Procedure. Any party having the a right to terminate this --------------------- Agreement due to a failure of a condition precedent contained in Sections 7 or 8 hereto may terminate this Agreement by delivering to the other party parties written notice of the termination, and thereupon, this Agreement will shall be terminated without obligation or liability of any party in favor of any other party.

Appears in 2 contracts

Samples: Stock Purchase Agreement (Protection One Inc), Stock Purchase Agreement (Protection One Inc)

Termination Procedure. Any party having the right to terminate this --------------------- Agreement due to a failure of a condition precedent contained in Sections 7 or 8 hereto may terminate this Agreement by delivering to the other party written notice of termination, and thereupon, this Agreement will be terminated without obligation or liability of any partyparty except as otherwise provided herein.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Healthextras Inc), Securities Purchase Agreement (Healthextras Inc)

Termination Procedure. Any party having the right to terminate this --------------------- Agreement due to a failure of a condition precedent contained in Sections 6 or 7 or 8 hereto may 7 8 terminate this Agreement by delivering to the other party written notice of termination, and thereupon, this Agreement will be terminated without obligation or liability of any party.

Appears in 2 contracts

Samples: Stock Purchase Agreement (Healthmed Inc), Stock Purchase Agreement (Healthmed Inc)

Termination Procedure. Any party having the right to terminate this --------------------- Agreement due to a failure of a condition precedent contained in Sections 6 or 7 or 8 hereto may terminate this Agreement by delivering to the other party written notice of termination, and thereupon, this Agreement will be terminated without obligation or liability of any party.

Appears in 2 contracts

Samples: Stock Purchase Agreement (Katz David), Stock Purchase Agreement (Katz David)

Termination Procedure. Any party having the right This Agreement may be terminated only pursuant to Section 7.1(a)–(e). In order to terminate this --------------------- Agreement due Agreement, the Party desiring to a failure of a condition precedent contained in Sections 7 or 8 hereto may terminate this Agreement by delivering shall give written notice of such termination to the other party written notice Parties in accordance with Section 9.2, specifying the provision of termination, and thereupon, this Agreement will be terminated without obligation or liability of any partypursuant to which such termination is effected.

Appears in 1 contract

Samples: Securities Purchase Agreement (I3 Verticals, Inc.)

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Termination Procedure. Any party having the right to terminate this --------------------- Agreement due to a failure of a condition precedent contained in Sections 7 9, 10, or 8 11 hereto may terminate this Agreement prior to Closing by delivering to the other party written notice of termination, and thereupon, this Agreement will be terminated without obligation or liability of any party.

Appears in 1 contract

Samples: Merger Agreement (Security Biometrics Inc)

Termination Procedure. Any party having the right to terminate this --------------------- Agreement due to a failure of a condition precedent contained in Sections 7 or and 8 hereto may terminate this Agreement prior to Closing by delivering to the other party written notice of termination, and thereupon, this Agreement will be terminated without obligation or liability of any party, except as set forth in the Escrow Agreement.

Appears in 1 contract

Samples: Stock Purchase Agreement (Nostrad Telecommunications Inc)

Termination Procedure. Any party having the right to terminate this --------------------- ---------------------- Agreement due to a failure of a condition precedent contained in Sections 7 or and 8 hereto may terminate this Agreement prior to Closing by delivering to the other party written notice of termination, and thereupon, this Agreement will be terminated without obligation or liability of any party, except as set forth in the Escrow Agreement.

Appears in 1 contract

Samples: Stock Purchase Agreement (Security Biometrics Inc)

Termination Procedure. Any If this Agreement is terminated pursuant to this Section "15", the party having the right so electing to terminate this --------------------- Agreement due shall give written notice to a failure of a condition precedent contained in Sections 7 or 8 hereto may terminate this Agreement by delivering that effect to the other party written notice of terminationparty, and thereupon, this Agreement will shall terminate and the transactions contemplated by this Agreement shall be terminated abandoned without obligation or liability of any further action by either party. Buyer shall then return to Seller all documents and copies and other materials received by Buyer.

Appears in 1 contract

Samples: Asset Purchase Agreement (Ameriquest Technologies Inc)

Termination Procedure. Any party having (a) In the right event of termination and abandonment by the Buyer pursuant to terminate this --------------------- Agreement due to a failure of a condition precedent contained in Sections 7 or 8 hereto may terminate this Agreement by delivering Clause 2.6.1(a)(i), written notice thereof shall forthwith be given to the other party written notice of terminationParty or Parties, and thereupon, this Agreement will shall terminate, and the purchase of the Shares hereunder shall be abandoned, without further action by the Buyer or the Sellers. (b) If this Agreement is terminated without obligation or liability as provided herein, each party shall redeliver all documents, work papers and other material of any other party, whether so obtained before or after the execution of this Agreement, to the party furnishing the same.

Appears in 1 contract

Samples: Share Purchase Agreement (WPCS International Inc)

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