Termination Clause Example from Business Contracts

Termination. This Agreement may be terminated at any time prior to the Forward Closing: (a) by mutual written consent of the Company and the Purchasers; (b) automatically: (i) if the IPO is not consummated on or prior to February 15, 2021; or (ii) if the Business Combination is not consummated within twenty-four (24) months from the IPO Closing or such later period approved by the Company's stockholders in accordance with the Charter. In the event of any termination of this Agreement pursuant to this Section... 8, the Forward Purchase Price (and interest thereon, if any), if previously paid, and each Purchaser's funds paid in connection herewith shall be promptly returned to such Purchaser, and thereafter this Agreement shall forthwith become null and void and have no effect, without any liability on the part of the Purchasers or the Company and their respective directors, officers, employees, partners, managers, members, or stockholders and all rights and obligations of each party shall cease; provided, however, that nothing contained in this Section 8 shall relieve any 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