Termination Clause Example with 4 Variations from Business Contracts
This page contains Termination clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Termination. 10.1 Termination Events. This Agreement may, by notice given prior to or at the Closing, be terminated: (a) by either Buyer or Seller if a material breach of this Agreement has been committed by the other party and such breach has not been (i) remedied within ten business days following receipt of written notice from the other party specifying such breach and demanding that it be remedied or (ii) waived; (b) (i) by Buyer if any of the conditions in Section 7 have ...not been satisfied as of the Closing Date or if satisfaction of such condition is or becomes impossible (other than through the failure of Buyer to comply with its obligations under this Agreement) and Buyer has not waived such condition on or before the Closing Date; or (ii) by Seller, if any of the conditions in Section 8 has not been satisfied as of the Closing Date or if satisfaction of such condition is or becomes impossible (other than through the failure of Seller to comply with their obligations under this Agreement) and Seller has not waived such condition on or before the Closing Date; (c) by mutual consent of Buyer and Seller; or 15 (d) by either Buyer or Seller if the Closing has not occurred (other than through the failure of any party seeking to terminate this Agreement to comply fully with its obligations under this Agreement) on or before December 31, 2014. 10.2 Effect of Termination. Each party’s right of termination under Section 10.1 is in addition to any other rights it may have under this Agreement or otherwise, and the exercise of a right of termination will not be an election of remedies. If this Agreement is terminated pursuant to Section 10.1, all further obligations of the parties under this Agreement will terminate, except that the obligations in Sections 12.1 will survive; provided, however, that if this Agreement is terminated by a party because of the breach of this Agreement by the other party or because one or more of the conditions to the terminating party’s obligations under this Agreement is not satisfied as a result of the other party’s failure to comply with its obligations under this Agreement, the terminating party’s right to pursue all legal remedies will survive such termination unimpaired.View More
Variations of a "Termination" Clause from Business Contracts
Termination. 10.1 9.1 Termination Events. This Agreement may, by notice given prior to or at the Closing, be terminated: (a) by either Buyer or Seller Sellers if a material breach Breach of any provision of this Agreement has been committed by the other party Party and such breach Breach has not been (i) remedied within ten business days following receipt of written notice from the other party specifying such breach and demanding that it be remedied or (ii) waived; (b) (i) by Buyer if any of the conditions i...n Section 7 have has not been satisfied as of the Closing Date or if satisfaction of such a condition is or becomes impossible (other than through the failure of Buyer to comply with its obligations under this Agreement) and Buyer has not waived such condition on or before the Closing Date; or (ii) (i) by Seller, Sellers, if any of the conditions in Section 8 has not been satisfied as of the Closing Date or if satisfaction of such a condition is or becomes impossible (other than through the failure of Seller Sellers to comply with their obligations under this Agreement) and Seller Sellers has not waived such condition on or before the Closing Date; (c) by mutual consent of Buyer and Seller; Sellers; or 15 (d) either by either Buyer or Seller by Sellers if the Closing has not occurred (other than through the failure of any party Party seeking to terminate this Agreement to comply fully with its obligations under this Agreement) on or before December August 31, 2014. 10.2 2022, or such later date as the parties may agree upon. 9.2 Effect of Termination. Each party’s party's right of termination under Section 10.1 9.1 is in addition to any other rights it may have under this Agreement or otherwise, and the exercise of a right of termination will not be an election of remedies. If this Agreement is terminated pursuant to Section 10.1, 9.1, all further obligations of the parties under this Agreement will terminate, except that the obligations in Sections 12.1 11.1 and 11.3 will survive; provided, however, that if this Agreement is terminated by a party Party because of the breach Breach of this the Agreement by the other party Party or because one or more of the conditions to the terminating party’s Party's obligations under this Agreement is not satisfied as a result of the other party’s Party's failure to comply with its obligations under this Agreement, the terminating party’s Party's right to pursue all legal remedies will survive such termination unimpaired. View More
Termination. 10.1 Termination Events. This Agreement may, by notice given prior to or at the Closing, be terminated: (a) by either Buyer or Seller Sellers if a material breach Breach of any provision of this Agreement has been committed by the other party and such breach Breach has not been (i) remedied within ten business days following receipt of written notice from the other party specifying such breach and demanding that it be remedied or (ii) waived; 31 (b) (i) by Buyer if any of the conditions in Secti...on 7 have 8 has not been satisfied as of the Closing Date or if satisfaction of such a condition is or becomes impossible (other than through the failure of Buyer to comply with its obligations under this Agreement) and Buyer has not waived such condition on or before the Closing Date; or (ii) by Seller, Sellers, if any of the conditions in Section 8 9 has not been satisfied as of the Closing Date or if satisfaction of such a condition is or becomes impossible (other than through the failure of Seller Sellers to comply with their his obligations under this Agreement) and Seller has Sellers have not waived such condition on or before the Closing Date; (c) by mutual consent of Buyer and Seller; Sellers; or 15 (d) either by either Buyer or Seller by all Sellers if the Closing has not occurred (other than through the failure of any party seeking to terminate this Agreement to comply fully with its obligations under this Agreement) on or before December 31, 2014. 2021 or such later date as the parties may agree upon. 10.2 Effect of Termination. Each party’s right of termination under Section 10.1 is in addition to any other rights it may have under this Agreement or otherwise, and the exercise of a right of termination will not be an election of remedies. If this Agreement is terminated pursuant to Section 10.1, all further obligations of the parties under this Agreement will terminate, except that the obligations in Sections 12.1 and 12.3 will survive; provided, however, that if this Agreement is terminated by a party because of the breach Breach of this the Agreement by the other party or because one or more of the conditions to the terminating party’s obligations under this Agreement is not satisfied as a result of the other party’s failure to comply with its obligations under this Agreement, the terminating party’s right to pursue all legal remedies will survive such termination unimpaired. View More
Termination. 10.1 Termination Events. This Agreement may, by notice given prior to or at the Closing, be terminated: (a) by either the Buyer or the Seller if a material breach Breach of any provision of this Agreement has been committed by the other party and such breach Breach has not been (i) remedied within ten business days following receipt of written notice from the other party specifying such breach and demanding that it be remedied or (ii) waived; (b) (i) by the Buyer if any of the conditions in Sect...ion 7 have not been satisfied as of the Closing Date or if satisfaction of such condition is or becomes impossible (other than through the failure of Buyer to comply with its obligations under this Agreement) and Buyer has not waived such condition on or before the Closing Date; or (ii) by Seller, if any of the conditions in Section 8 has not been satisfied as of the Closing Date or if satisfaction of such a condition is or becomes impossible (other than through the failure of the Buyer to comply with its obligations under this Agreement) and the Buyer has not waived such condition on or before the Closing Date; or 23 (ii) by the Seller, if any of the conditions in Section 9 has not been satisfied of the Closing Date or if satisfaction of such a condition is or becomes impossible (other than through the failure of the Seller to comply with their obligations under this Agreement) and the Seller has not waived such condition on or before the Closing Date; (c) by mutual consent of the Buyer and the Seller; or 15 (d) either by either the Buyer or by the Seller if the Closing has not occurred (other than through the failure of any party seeking to terminate this Agreement to comply fully with its obligations under this Agreement) on or before December 31, 2014. January 1, 2021 or such later date as the parties may agree upon. 10.2 Effect of Termination. Each party’s right of termination under Section 10.1 is in addition to any other rights it may have under this Agreement or otherwise, and the exercise of a right of termination will not be an election of remedies. If this Agreement is terminated pursuant to Section 10.1, all further obligations of the parties under this Agreement will terminate, except that the obligations in Sections 12.1 and 12.3 will survive; provided, however, that if this Agreement is terminated by a party because of the breach Breach of this the Agreement by the other party or because one or more of the conditions to the terminating party’s obligations under this Agreement is not satisfied as a result of the other party’s failure to comply with its obligations under this Agreement, the terminating party’s right to pursue all legal remedies will survive such termination unimpaired. View More
Termination. 10.1 8.1 Termination Events. This Agreement may, by notice given prior to or at the Closing, be terminated: (a) by either Buyer or Seller the Company if a material breach of any provision of this Agreement has been committed by the other party and Party and, if such breach is subject to being cured, such breach (i) has not been (i) remedied cured within ten business fifteen (15) days following of the breaching Party’s receipt of written notice of such breach from the other party specifying such ...breach and demanding that it be remedied non-breaching Party or (ii) waived; has not been waived by the non-breaching Party; (b) (i) by Buyer if any of the conditions condition in Section 7 have Article 6 has not been satisfied as of the Closing Termination Date or if satisfaction of any such condition is or becomes unlikely or impossible (other than through as a result of the failure of Buyer or Merger Sub to comply with its obligations under this Agreement) and Buyer has not waived such condition on or before the Closing Date; or (ii) by Seller, the Company if any of the conditions condition in Section 8 Article 7 has not been satisfied as of the Closing Termination Date or if satisfaction of any such condition is or becomes unlikely or impossible (other than through as a result of the failure of Seller the Company or the Shareholders’ Representative to comply with their its obligations under this Agreement) and Seller the Company has not waived such condition on or before the Closing Date; (c) by mutual written consent of Buyer and Seller; the Company; or 15 (d) by either Buyer or Seller the Company if the Closing has not occurred (other than through as a result of the failure of any party the Party seeking to terminate this Agreement to comply fully with its obligations under this Agreement) on or before December August 31, 2014. 10.2 2018 (the “Termination Date”). 8.2 Effect of Termination. Each party’s right Buyer’s and the Company’s respective rights of termination under Section 10.1 is 8.1 are in addition to any other rights it they may have under this Agreement or otherwise, and the exercise of a right of termination will shall not be an election of remedies. If this Agreement is terminated pursuant to Section 10.1, 8.1, all further obligations of the parties Parties under this Agreement will shall terminate, except that the obligations in Sections 12.1 will survive; provided, however, that if this Agreement is terminated by a party because of the Article 8, Article 11, and Article 12 shall survive and nothing herein shall relieve any Party hereto from liability for any intentional breach of this Agreement by the other party or because one or more of the conditions to the terminating party’s obligations under this Agreement is not satisfied as a result of the other party’s failure to comply with its obligations under this Agreement, the terminating party’s right to pursue all legal remedies will survive such termination unimpaired. any provision hereof. View More
