Termination Clause Example from Business Contracts

Termination. (a) This Agreement (i) shall automatically terminate twenty-four (24) months after the IPO Closing (or such later date as may be approved by the Company's stockholders in accordance with the Company's amended and restated certificate of incorporation) if the Company has not consummated an initial Business Combination by such date and (ii) may be terminated by mutual written consent of the Company and the Purchasers. (b) In the event of any termination of this Agreement pursuant to this Section 7..., this Agreement shall forthwith become null and void and have no effect, without any liability on the part of the Purchasers, the Company or the Surviving Entity 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 7 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