Common use of Waiver or Termination by the Purchaser Clause in Contracts

Waiver or Termination by the Purchaser. The conditions contained in Section 5.1 are inserted for the exclusive benefit of the Purchaser and may be waived in whole or in part by the Purchaser at any time without prejudice to any of its rights of termination in the event of non-performance of any other condition in whole or in part. If any of the conditions contained in Section 5.1 are not fulfilled or complied with by the time provided for, the Purchaser may, at or prior to the Closing Time, terminate this Agreement by notice in writing after such time required to the Vendors and the Shareholder. In such event the Purchaser shall be released from all obligations in this Agreement (except as set out in Section 5.5) and, unless the condition or conditions which have not been fulfilled are reasonably capable of being fulfilled or caused to be fulfilled by the Vendors, the Shareholder, Tribute Pharma or Tribute Pharmaceuticals, then the Vendors and the Shareholder shall also be released from all obligations in this Agreement (except as set out in Section 5.5).