Common use of Defaults Permitting Termination Clause in Contracts

Defaults Permitting Termination. If either SmartGate or Pubco materially default in the due and timely performance of any of their warranties, covenants, or agreements under this Agreement, or upon failure of a condition precedent, the non-defaulting party or parties may on or prior to the Closing Date give notice of termination of this Agreement, in the manner provided in Section 13.6. The notice will specify with particularity the default or defaults on which the notice is based. The termination will be effective five business days after the addressee receives the notice, unless the specified default or defaults have been cured on or before the effective date for termination. Except as otherwise expressly provided herein, upon termination here under neither party shall continuing have any responsibility to the other party.

Defaults Permitting Termination. If either SmartGate Hopk▇▇▇ ▇▇▇ital Group or Pubco materially default in the due and timely performance of any of their warranties, covenants, or agreements under this Agreement, or upon failure of a condition precedent, the non-defaulting party or parties may on or prior to the Closing Date give notice of termination of this Agreement, in the manner provided in Section 13.6. The notice will specify with particularity the default or defaults on which the notice is based. The termination will be effective five business days after the addressee receives the notice, unless the specified default or defaults have been cured on or before the effective date for termination. Except as otherwise expressly provided herein, upon termination here under neither party shall continuing have any responsibility to the other party.

Defaults Permitting Termination. If either SmartGate or Pubco materially default in the due and timely performance of any of their warranties, covenants, or agreements under this Agreement, or upon failure of a condition precedent, the non-defaulting party or parties may on or prior to the Closing Date give notice of termination of this Agreement, in the manner provided in Section 13.6. The notice will specify with particularity the default or defaults on which the notice is based. The termination will be effective five business days after the addressee receives the notice, unless the specified default or defaults have been cured on or before the effective date for termination. Except as otherwise expressly provided herein, upon termination here under neither party shall continuing have any responsibility to the other party.