Common use of Breakup Fee Clause in Contracts

Breakup Fee. If this Agreement is terminated (a) by any party hereto due to the failure of Frontier's shareholders to approve this Agreement and the consummation of the Exchange (regardless of the reason for such failure to approve) or (b) by Frontier pursuant to Section 13.01(f), then Aspect and Esenjay shall be entitled to receive from Frontier, and Frontier shall be obligated to pay to each of Aspect and Esenjay, within one business day following receipt of an invoice therefor, a fee equal to the sum of all out-of-pocket expenses and fees (including fees and expenses of counsel, accountants, experts, and consultants) actually incurred or accrued by Aspect or Esenjay in connection with this Agreement and the Exchange. In addition, Aspect and Esenjay shall each be entitled to an assignment of 10% of Frontier's interest in the Lapeyrouse Prospect, Terrebonne Parish, Louisiana as described on Schedule 4.17, which assignment Frontier shall promptly deliver.