Common use of Default at Closing Clause in Contracts

Default at Closing. Notwithstanding any other provision of this Agreement, if David Michael shall fail or refuse to ▇▇▇▇▇▇▇ ▇▇▇ of the Royal Oasis Shares, or shall fail or refuse to consummate the transaction described in this Agreement by the Closing Date, such failure or refusal shall constitute a default by David Michael, and ECOC at its option ▇▇▇ ▇▇▇▇▇▇▇ prejudice to any of its other rights against such defaulting party, may either (a) invoke any equitable remedies to enforce performance hereunder including, without limitation, an action or suit for specific performance, or (b) terminate all of its obligations hereunder with respect to David Michael. Likewise, if ECOC sha▇▇ ▇▇▇▇ ▇▇ ▇▇fuse to deliver any of the ECOC Shares, or shall fail or refuse to consummate the transaction described in this Agreement by the Closing Date, such failure or refusal shall constitute a default by ECOC, and David Michael at its option and witho▇▇ ▇▇▇▇▇▇▇▇▇ to any of its other rights against such defaulting party, may either (a) invoke any equitable remedies to enforce performance hereunder including, without limitation, an action or suit for specific performance, or (b) terminate all of its obligations hereunder with respect to ECOC.

Default at Closing. Notwithstanding any other provision of this Agreement, if David Michael shall fail or refuse to ▇d▇▇▇▇▇▇ ▇▇▇ of ▇▇ the Royal Oasis Shares, or shall fail or refuse to consummate the transaction described in this Agreement by the Closing Date, such failure or refusal shall constitute a default by David Michael, and ECOC at its option ▇a▇▇ ▇▇▇▇▇▇▇ prejudice ▇▇ejudice to any of its other rights against such defaulting party, may either (a) invoke any equitable remedies to enforce performance hereunder including, without limitation, an action or suit for specific performance, or (b) terminate all of its obligations hereunder with respect to David Michael. Likewise, if ECOC sha▇▇ shall ▇▇▇▇ ▇▇ ▇▇fuse ▇▇se to deliver any of the ECOC Shares, or shall fail or refuse to consummate the transaction described in this Agreement by the Closing Date, such failure or refusal shall constitute a default by ECOC, and David Michael at its option and witho▇▇ without ▇▇▇▇▇▇▇▇▇ to ▇▇ any of its other rights against such defaulting party, may either (a) invoke any equitable remedies to enforce performance hereunder including, without limitation, an action or suit for specific performance, or (b) terminate all of its obligations hereunder with respect to ECOC.