Termination Clause Example from Business Contracts

This example Termination clause appears in 2 contracts from 1 company

Termination. The obligations of the Underwriters hereunder may be terminated by the Representatives by notice given to and received by the Company prior to delivery of and payment for the Firm Units if, prior to that time, any of the events described in Sections 7(i) and 7(j) shall have occurred or if the Underwriters shall decline to purchase the Units for any reason permitted under this Agreement. 38 11. Reimbursement of Underwriters' Expenses. If (a) the Company shall fail to tender the Units for delivery... to the Underwriters because any condition to the obligations of the Underwriters set forth in Section 7 hereof is not satisfied or because of any refusal, inability or failure on the part of the Company to perform any agreement herein or comply with any provision hereof other than by reason of a default by any of the Underwriters, , the Company will reimburse the Underwriters for all reasonable and documented out-of-pocket expenses (including reasonable and documented fees and disbursements of counsel for the Underwriters) incurred by the Underwriters in connection with this Agreement and the proposed purchase of the Units, and upon demand the Company shall pay the full amount thereof to the Representatives for the account of each Underwriter. For the avoidance of doubt, if this Agreement is terminated pursuant to Section 9 by reason of the default of one or more Underwriters, the Company shall not be obligated to reimburse any defaulting Underwriter on account of those expenses. View More
TPB Acquisition Corp I Contracts

Form of Underwriting Agreement (Filed With SEC on March 23, 2021)

Form of Underwriting Agreement (Filed With SEC on April 21, 2021)