Tier 1 CPs Sample Clauses

Tier 1 CPs. The Tier 1 Seller’s CPs and Tier 1 Buyers’ CPs (collectively the “Tier 1 CPs”) shall be deemed satisfied upon (i) delivery by Seller to Buyers of a written notice stating that Seller has achieved or waived all Tier 1 Seller’s CPs and that Seller does not object to any conditions of the approvals on which the Tier 1 Buyers’ CPs are based (the “Seller’s Tier 1 CP Confirmation Notice”); and (ii) delivery by Buyers to Seller of a written notice stating that Buyers have achieved or waived all Tier 1 Buyers’ CPs and that Buyer does not object to any conditions of the approvals on which the Tier 1 Buyers’ CPs are based (the “Buyers’ Tier 1 CP Confirmation Notice”). If the Seller’s Tier 1 CP Confirmation Notice and/or the Buyers’ Tier 1 CP Confirmation Notice are not delivered by March 31, 2022, either Party may deliver a termination notice to the other Party (a “Tier 1 CP Termination Notice”) with such termination effective on the date sixty (60) Days following such Tier 1 CP Termination Notice unless the Party that did not deliver the CP Confirmation Notice that is the subject of such Tier 1 CP Termination Notice by March 31, 2022 delivers such CP Confirmation Notice before the end of such sixty (60) Day period, in which case the Tier 1 CP Termination Notice shall be automatically rescinded and this Agreement shall continue in full force and effect. Either Party may provide a Tier 1 CP Termination Notice with immediate effect at any time prior to May 31, 2022 if it reasonably determines that such Party’s Tier 1 CPs will not be achieved by May 31, 2022. For the avoidance of doubt, the Parties agree that, once the Tier 1 CPs are satisfied, no matter arising from an RPA shall excuse Buyers from any obligation under this Agreement.
Sample 1
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