Financing Condition Precedent Sample Clauses
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Financing Condition Precedent. (a) The Purchasers shall, in accordance with each Purchaser's Applicable Percentage pay the Advance Payment to the Seller on the Closing Date after Sandbox has completed a financing sufficient to fund Sandbox's Applicable Percentage of the Advance Payment (the "Financing Condition").
(b) Sandbox shall use all reasonable commercial efforts and take all reasonable commercial action as may be necessary or advisable to satisfy and fulfil the Financing Condition as promptly as reasonably practicable. The Parties will cooperate in exchanging such information and providing such assistance as may be reasonably required in connection with the foregoing.
(c) If the Financing Condition has not been satisfied on or before the Effective Date, then either the Seller or Sandbox shall have the right to terminate this Agreement upon prior written notice to the other Parties without any liability; provided that each Party shall continue to be liable for any breach of this Agreement that occurred prior to such termination.
Financing Condition Precedent. The obligation of Purchaser to purchase the Trade Secrets and Assets of Seller pursuant to the terms and conditions of this Agreement is conditioned upon Purchaser obtaining financing in the sum of not less than Three Million ($3,000,000) Dollars to fund the within purchase. In the event Purchaser does not obtain such financing by the Closing, either party shall then have the option to terminate this Agreement upon service of written notice to the other in which event this Agreement, and all of the rights and obligations of the parties