Termination Clause Example from Business Contracts

Termination. This Subscription Agreement shall terminate and be void and of no further force and effect, and all rights and obligations of the applicable parties hereunder shall terminate without any further liability on the part of any party in respect thereof: (a) on such date and time as the Business Combination Agreement is terminated in accordance with its terms, (b) upon the mutual written agreement of each of the parties hereto to terminate this Subscription Agreement, (c) if the Closing shall not hav...e occurred by April 30, 2017 or (d) if any of the conditions to Closing set forth in Section 2(b) or Section 2(c) of this Subscription Agreement are not satisfied or duly waived by the applicable party on or prior to the Closing and, as a result thereof, the transactions contemplated by this Subscription Agreement are not consummated at the Closing; provided, however, that nothing herein will relieve any party from liability for any willful breach hereof prior to the time of termination, and each party will be entitled to any remedies at law or in equity to recover losses, liabilities or damages arising from such breach. The Company shall notify Subscriber of the termination of the Business Combination Agreement promptly after the termination of such agreement or the consummation of the transactions contemplated by the Business Combination Agreement promptly after such consummation. The Company and Subscriber, as applicable, shall use their reasonable best efforts to take, or cause to be taken, all appropriate action to do, or cause to be done, all things necessary, proper or advisable under applicable law or otherwise to consummate and make effective the transactions contemplated by this Subscription Agreement as promptly as practicable including the satisfaction of the conditions to the Closing set forth in Sections 2(b) and 2(c) of this Subscription Agreement, respectively. View More