Termination Clause Example from Business Contracts

Termination. This Agreement may be terminated at any time: (a) by mutual written consent of the Company and the Purchaser; (b) automatically: (i) if the IPO is not consummated on or prior to September 30, 2020; or (ii) if the Business Combination is not consummated within 24 months from the IPO Closing (or 30 months from the closing of this offering if the Company has executed a letter of intent, agreement in principle or definitive agreement for an initial business combination within 24 months from the clos...ing of the IPO but has not completed the initial business combination within such 24 month period). In the event of any termination of this Agreement pursuant to this Section 8, any Director Forward Purchase Price (and interest thereon, if any), if previously paid, shall be promptly returned to the Purchaser, the Company shall ensure appropriate instruments are executed to ensure that the any holder of Class A Share issued in the IPO will have no claim to such funds, and -10- thereafter this Agreement shall forthwith become null and void and have no effect, without any liability on the part of the Purchaser or the Company and their respective directors, officers, employees, partners, managers, members, or stockholders and all rights and obligations of each of the parties shall cease; provided, however, that nothing contained in this Section 8 shall relieve either party from liabilities or damages arising out of any fraud or willful breach by such party of any of its representations, warranties, covenants or agreements contained in this Agreement. View More