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 Purchaser; or (b) automatically: (i) if the IPO is not consummated on or prior to December 31, 2020; or (ii) if the Business Combination is not consummated within 24 months from the IPO Closing, unless extended upon approval of the Company's shareholders in accordance with the Charter. In the event of any termination of this Agreement pursuant to this Section 8, any For...ward Purchase Price (and interest thereon, if any), if previously paid, and each Purchaser's funds paid in connection herewith shall be promptly returned to the Purchasers, the Company shall ensure appropriate instruments are executed to ensure that the any holder of Class A Shares issued in the IPO will have no claim to such funds, 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 shareholders 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