Common use of Contract Terminations Clause in Contracts

Contract Terminations. Upon a termination of this Contract, either party to this Contract (the “Terminating Party”) may give written notice to the Escrow Agent and the other party (the “Non-Terminating Party”) of such termination and the reason for such termination. Such request shall also constitute a request for the release of the applicable Independent Contract Consideration to the Seller and the remainder of the Xxxxxxx Money to the Purchaser. The Non-Terminating Party shall then have five Business Days in which to object in writing to the release of the Xxxxxxx Money. If the Non-Terminating Party provides such an objection, then the Escrow Agent shall retain the Xxxxxxx Money until it receives written instructions executed by both Seller and Purchaser as to the disposition and disbursement of the Xxxxxxx Money, or until ordered by final court order, decree or judgment, which is not subject to appeal, to deliver the Xxxxxxx Money to a particular party, in which event the Xxxxxxx Money shall be delivered in accordance with such notice, instruction, order, decree or judgment.

Contract Terminations. Upon a termination of this ContractAgreement, either party to this Contract Agreement (the “"Terminating Party”") may give written notice to the Escrow Agent and the other party (the “"Non-Terminating Party”") of such termination and the reason for such termination. Such request shall also constitute a request for the release of the applicable Independent Contract Consideration to the Seller and the remainder of the Xxxxxxx Money to the PurchaserTerminating Party if so entitled under this Agreement. The Non-Terminating Party shall then have five (5) Business Days in which to object in writing to the release of the Xxxxxxx MoneyMoney to the Terminating Party. If the Non-Terminating Party provides such an objection, and the Xxxxxxx Money is in the possession of Escrow Agent, then the Escrow Agent shall retain the Xxxxxxx Money until it receives written instructions executed by both Seller and Purchaser as to the disposition and disbursement of the Xxxxxxx Money, or until ordered by final court order, decree or judgment, which is not subject to appeal, to deliver the Xxxxxxx Money to a particular party, in which event the Xxxxxxx Money shall be delivered in accordance with such notice, instruction, order, decree or judgment.

Contract Terminations. Upon a termination of this ContractAgreement, either party to this Contract Agreement (the “Terminating Party”) may give written notice to the Escrow Agent and the other party (the “Non-Terminating Party”) of such termination and the reason for such termination. Such request shall also constitute a request for the release of the applicable Independent Contract Consideration to the Seller and the remainder of the Xxxxxxx Exxxxxx Money to the PurchaserTerminating Party. The Non-Terminating Party shall then have five Business Days business days in which to object in writing to the release of the Xxxxxxx MoneyExxxxxx Money to the Terminating Party. If the Non-Terminating Party provides such an objection, then the Escrow Agent shall retain the Xxxxxxx Exxxxxx Money until it receives written instructions executed by both Seller and Purchaser as to the disposition and disbursement of the Xxxxxxx Exxxxxx Money, or until ordered by final court order, decree or judgment, which is not subject to appeal, to deliver the Xxxxxxx Exxxxxx Money to a particular party, in which event the Xxxxxxx Exxxxxx Money shall be delivered in accordance with such notice, instruction, order, decree or judgment.

Contract Terminations. Upon a termination of this ContractAgreement in accordance with its terms, either the party with the right to terminate this Contract Agreement (the “Terminating Party”) may give written notice to the Escrow Agent and the other party (the “Non-Terminating Party”) of such termination and the reason for such termination. Such request shall also constitute a request for the release of the applicable Independent Contract Consideration to the Seller and the remainder of the Xxxxxxx Money to the PurchaserTerminating Party. The Non-Terminating Party shall then have five Business Days business days in which to object in writing to the release of the Xxxxxxx MoneyMoney to the Terminating Party. If the Non-Terminating Party provides such an objection, then the Escrow Agent shall retain the Xxxxxxx Money until it receives written instructions executed by both Seller and Purchaser as to the disposition and disbursement of the Xxxxxxx Money, or until ordered by final court order, decree or judgment, which is not subject to appeal, to deliver the Xxxxxxx Money to a particular party, in which event the Xxxxxxx Money shall be delivered in accordance with such notice, instruction, order, decree or judgment. Notwithstanding the foregoing, or anything to the contrary contained herein, in the event Purchaser terminates this Agreement in accordance with the terms of Section 2.4 herein, then Escrow Agent shall promptly, and without the requirement of notice from the Seller, return the Xxxxxxx Money to Purchaser.