Common use of Failure to Satisfy Conditions Clause in Contracts

Failure to Satisfy Conditions. If any condition set forth in Sections 6.1 or 6.2 is not satisfied on or before the Closing Time, the Party entitled to the benefit of such condition (in this Section, the “First Party”) may terminate this Agreement by notice in writing to the other Parties and in such event the First Party shall be released from all obligations under this Agreement, and unless the First Party can show that the condition or conditions which have not been satisfied and for which the First Party has terminated this Agreement are reasonably capable of being performed or caused to be performed by the other Parties then the other Parties shall also be released from all obligations under this Agreement, except that the First Party shall be entitled to waive compliance with any such conditions, obligations or covenants in whole or in part if it sees fit to do so without prejudice to any of its rights of termination in the event of non-performance of any other condition, obligation or covenant, or whole or in part.

Appears in 2 contracts

Samples: Share Purchase Agreement (Viking Energy Group, Inc.), Share Purchase Agreement (Camber Energy, Inc.)

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Failure to Satisfy Conditions. If any condition set forth in Sections 6.1 7.1 or 6.2 7.2 is not satisfied on or before the Closing Time, the Party entitled to the benefit of such condition (in this Section, the “First Party”) may terminate this Agreement by notice in writing to the other Parties Party and in such event the First Party shall be released from all obligations under this Agreement, and unless the First Party can show that the condition or conditions which have not been satisfied and for which the First Party has terminated this Agreement are reasonably capable of being performed or caused to be performed by the other Parties Party then the other Parties Party shall also be released from all obligations under this Agreement, except that the First Party shall be entitled to waive compliance with any such conditions, obligations or covenants in whole or in part if it sees fit to do so without prejudice to any of its rights of termination in the event of non-performance of any other condition, obligation or covenant, or whole or in part.

Appears in 1 contract

Samples: Agreement (MoneyFlow Capital Corp)

Failure to Satisfy Conditions. If any condition set forth in Sections Section 6.1 or Section 6.2 is not satisfied on or before the Closing TimeOutside Date, the Party or Parties (the “First Party”) entitled to the benefit of such condition (in this Section, the “First Party”) may terminate this Agreement by written notice in writing to the other Party or Parties and in such event the First Party shall be released from all obligations under this Agreement, and unless the . Unless such First Party can show that the condition or conditions which have not been satisfied and for which the First Party has terminated this Agreement are reasonably capable of being performed or caused to be performed by the other Parties party or parties, then the other Parties party or parties shall also be released from all obligations under this Agreement, except that the . The First Party shall be entitled to waive compliance with any such conditions, obligations or covenants conditions in whole or in part if it sees fit to do so without prejudice to any of its his rights of termination in the event of non-performance of any other condition, obligation or covenant, or condition in whole or in part.]

Appears in 1 contract

Samples: Share Purchase Agreement (SolarBank Corp)

Failure to Satisfy Conditions. If any condition conditions set forth out in Sections 6.1 8.1 or 6.2 8.2 is not satisfied on or before the Closing Time, the Party entitled to the benefit of such that condition (in this Section, the "First Party") may terminate this Agreement by notice in writing to the other Parties Party, and in such that event the First Party shall be released from all obligations under this Agreement, and unless the First Party can show that the condition or conditions which have not been satisfied satisfied, and for which the First Party has terminated this Agreement Agreement, are reasonably capable of being performed or caused to be performed by the other Parties Party, then the other Parties Party shall also be released from all obligations under this Agreement, except that the First Party shall be entitled to waive compliance with any such conditions, obligations or covenants in whole or in part if it sees fit to do so without prejudice to any of its rights of termination in the event of non-performance of any other condition, obligation or covenant, or in whole or in part.

Appears in 1 contract

Samples: Asset Purchase Agreement (Magna Entertainment Corp)

Failure to Satisfy Conditions. If any condition set forth in Sections Section 6.1 or Section 6.2 is not satisfied on or before the Closing TimeOutside Date, the Party or Parties (the “First Party”) entitled to the benefit of such condition (in this Section, the “First Party”) may terminate this Agreement by written notice in writing to the other Party or Parties and in such event the First Party shall be released from all obligations under this Agreement, and unless the . Unless such First Party can show that the condition or conditions which have not been satisfied and for which the First Party has terminated this Agreement are reasonably capable of being performed or caused to be performed by the other Parties party or parties, then the other Parties party or parties shall also be released from all obligations under this Agreement, except that the . The First Party shall be entitled to waive compliance with any such conditions, obligations or covenants conditions in whole or in part if it sees fit to do so without prejudice to any of its his rights of termination in the event of non-performance of any other condition, obligation or covenant, or condition in whole or in part.

Appears in 1 contract

Samples: Share Purchase Agreement (SolarBank Corp)

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Failure to Satisfy Conditions. If any condition set forth in Sections 6.1 6.1, 6.2 or 6.2 6.3 is not satisfied on or before the Closing Time, the Party entitled to the benefit of such condition (in this Section, the "First Party") may terminate this Agreement by notice in writing to the other Parties Party and in such event the First Party shall be released from all obligations under this AgreementAgreement (except as otherwise provided herein), and unless the First Party can show that the condition or conditions which have not been satisfied and for which the First Party has terminated this Agreement are reasonably capable of being performed or caused to be performed by the other Parties Party then the other Parties Party shall also be released from all obligations under this AgreementAgreement (except as otherwise provided herein), except that the First Party shall be entitled to waive compliance with any such conditions, obligations or covenants in whole or in part if it sees fit to do so without prejudice to any of its rights of termination in the event of non-performance of any other condition, obligation or covenant, or in whole or in part.

Appears in 1 contract

Samples: Securities Exchange Agreement (Lake Victoria Mining Company, Inc.)

Failure to Satisfy Conditions. If any condition set forth in Sections 6.1 8(1) or 6.2 8(2) is not satisfied on or before the Closing Time, the Party entitled to the benefit of such condition (in this Section, the “First Party”) may terminate this Agreement by notice in writing to the other Parties Party and in such event the First Party shall be released from all obligations under this Agreement, and unless the First Party can show that the condition or conditions which have not been satisfied and for which the First Party has terminated this Agreement are reasonably capable of being performed or caused to be performed by the other Parties Party then the other Parties Party shall also be released from all obligations under this Agreement, except that the First Party shall be entitled to waive compliance with any such conditions, obligations or covenants in whole or in part if it sees fit to do so without prejudice to any of its rights of termination in the event of non-performance of any other condition, obligation or covenant, or whole or in part.

Appears in 1 contract

Samples: Asset Purchase Agreement (Cryptologic LTD)

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