Deal Documents Declared Void Ab Initio Clause Samples
The 'Deal Documents Declared Void Ab Initio' clause establishes that certain contractual documents are considered invalid from the outset, as if they never existed. In practice, this means that any rights, obligations, or transactions arising from these documents are nullified, and the parties are restored to their original positions prior to the agreement. This clause is typically used to address situations where a fundamental issue, such as fraud or illegality, undermines the validity of the contract, thereby protecting parties from being bound by defective or unenforceable agreements.
POPULAR SAMPLE Copied 178 times
Deal Documents Declared Void Ab Initio. Upon execution and delivery of this Agreement, the Deal Documents are hereby declared void ab initio, and of no force or effect whatsoever, as if same had never been executed, and no Party shall have any obligation to the other Party(ies) therein. The shares of stock in Iron Eagle issued to the Seller are also hereby declared void.