Common use of Procedure and Effect of Termination Clause in Contracts

Procedure and Effect of Termination. In the event of a termination contemplated hereby by any party pursuant to Section 9.1, the party seeking to terminate this Agreement shall give prompt written notice thereof to the other party, and the transactions contemplated hereby shall be abandoned, without further action by any party hereto. In such event:

Appears in 8 contracts

Samples: Merger Agreement (Four Oaks Fincorp Inc), Agreement and Plan of Merger (Analytical Surveys Inc), Merger Agreement (High Street Corp)

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Procedure and Effect of Termination. In the event of a termination contemplated hereby of this Agreement by any party either or both of the Parties pursuant to Section 9.110.1, the party seeking to terminate this Agreement shall give prompt written notice thereof will forthwith be given by the terminating Party to the other party, Party and this Agreement will terminate and the transactions contemplated hereby shall will be abandoned, without further action by any party hereto. In such event:either Party, whereupon the liabilities of the Parties hereunder will terminate, except as otherwise expressly provided in this Agreement (including Section 10.3).

Appears in 7 contracts

Samples: Unit Purchase Agreement (Aquila Inc), Asset Purchase Agreement (WPS Resources Corp), Asset Purchase Agreement (WPS Resources Corp)

Procedure and Effect of Termination. In the event of a termination contemplated hereby by any party pursuant to Section 9.1SECTION 10.1, the party seeking to terminate this Agreement shall give prompt written notice thereof to the other party, and the transactions contemplated hereby shall be abandoned, without further action by any party hereto. In such event:

Appears in 4 contracts

Samples: Merger Agreement (First Bancorp /Nc/), Merger Agreement (First National Corp /Sc/), Merger Agreement (First Savings Bancorp Inc)

Procedure and Effect of Termination. (a) In the event of a termination contemplated hereby by any party of this Agreement pursuant to Section 9.1this Article 9, the party seeking to terminate this Agreement terminating Party shall forthwith give prompt written notice thereof to the other partyParty and this Agreement shall terminate, and the transactions contemplated hereby shall be abandoned, without further action by any party hereto. In such event:either of the Parties.

Appears in 3 contracts

Samples: Asset Exchange Agreement (CrossAmerica Partners LP), Asset Purchase Agreement (CrossAmerica Partners LP), Exchange Agreement (CrossAmerica Partners LP)

Procedure and Effect of Termination. In the event of a termination contemplated hereby by any party pursuant to Section 9.110.1, the party seeking to terminate this Agreement shall give prompt written notice thereof to the other party, and the transactions contemplated hereby shall be abandoned, without further action by any party hereto. In such event:

Appears in 2 contracts

Samples: Merger Agreement (Bank of Granite Corp), Employment Agreement (FNB Corp/Nc)

Procedure and Effect of Termination. In the event of a termination contemplated hereby by any party pursuant to Section 9.110.1, the party seeking to terminate this Agreement shall give prompt written notice thereof to the other partyparties, and the transactions contemplated hereby shall be abandoned, without further action by any party hereto. In such event:

Appears in 1 contract

Samples: Merger Agreement (Tsunami Capital Corp)

Procedure and Effect of Termination. In Any party or parties who have the event of a termination contemplated hereby by any party pursuant to Section 9.1, the party seeking right to terminate this agreement and abandon the transactions contemplated by this Agreement shall give prompt may do so by delivering written notice thereof of such termination and abandonment to the other party, parties and the transactions contemplated hereby such termination and abandonment shall be abandoned, occur upon such delivery without any further action by any party heretoPerson. In such eventIf this Agreement is terminated pursuant to Section 7.1 of this Agreement:

Appears in 1 contract

Samples: Purchase Agreement (Donnelley R H Inc)

Procedure and Effect of Termination. Any party desiring to terminate this Agreement pursuant to Section 9.1 shall give written notice of such termination to the other party or parties, as the case may be, to this Agreement. In the event of a the termination contemplated hereby by any party pursuant to Section 9.1, the party seeking to terminate of this Agreement shall give prompt written notice thereof to and the other party, and abandonment of the transactions contemplated hereby pursuant to Section 9.1 hereof, this Agreement shall become void and there shall be abandoned, without further action by no liability on the part of any party hereto. In such event:hereto except

Appears in 1 contract

Samples: Equity Purchase Agreement

Procedure and Effect of Termination. (a) In the event of a termination contemplated hereby by any party of this Agreement pursuant to Section 9.1this Article VIII, the terminating party seeking to terminate this Agreement shall forthwith give prompt written notice thereof to the other partyparty and this Agreement shall terminate, and the transactions contemplated hereby shall be abandoned, without further action by any party either of the parties hereto. In such event:.

Appears in 1 contract

Samples: Stock Purchase Agreement (Idex Corp /De/)

Procedure and Effect of Termination. (a) In the event of a termination contemplated hereby by any party pursuant to Section SECTION 9.1, the party seeking to terminate this Agreement shall give prompt written notice thereof to the other party, and the transactions contemplated hereby shall be abandoned, without further action by any party hereto. In such event:

Appears in 1 contract

Samples: Merger Agreement (First Bancorp /Nc/)

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Procedure and Effect of Termination. In the event of a termination of this Agreement and abandonment of the transactions contemplated hereby by any party either or both of the parties pursuant to Section 9.110.1, written notice thereof shall forthwith be given by the terminating party seeking 'to terminate the other party and this Agreement shall give prompt written notice thereof to the other party, terminate and the transactions contemplated hereby shall be abandoned, without further action by any party of the parties hereto. In such eventIf this Agreement is terminated as provided herein:

Appears in 1 contract

Samples: Asset Purchase Agreement (Somerset Power LLC)

Procedure and Effect of Termination. In the event of a termination contemplated hereby of this Agreement by any party either or both of the Parties pursuant to this Section 9.110, the party seeking to terminate this Agreement shall give prompt written notice thereof will forthwith be given by the terminating Party to the other party, Party and this Agreement will terminate and the transactions contemplated hereby shall will be abandoned, without further action by any party hereto. In such event:either Party, whereupon the Liabilities of the Parties hereunder will terminate, except as otherwise expressly provided in this Agreement (including Section 10(c)).

Appears in 1 contract

Samples: Stock Purchase Agreement (Unisource Energy Corp)

Procedure and Effect of Termination. In the event of a the termination contemplated hereby by any party pursuant to Section 9.1, the party seeking to terminate of this Agreement shall give prompt written notice thereof to and the other party, and abandonment of the transactions contemplated hereby shall pursuant to Section 10.3 hereof, written notice thereof will forthwith be given by the party so terminating to the other party and this Agreement will terminate and the transaction contemplated hereby will be abandoned, without further action by any party heretoaction. In such eventIf this Agreement is terminated pursuant to Section 10.3 hereof:

Appears in 1 contract

Samples: Recapitalization Agreement (TRW Inc)

Procedure and Effect of Termination. In (a)In the event of a termination contemplated hereby by any party of this Agreement pursuant to Section 9.1this Article 9, the party seeking to terminate this Agreement terminating Party shall forthwith give prompt written notice thereof to the other partyParty and this Agreement shall terminate, and the transactions contemplated hereby shall be abandoned, without further action by any party hereto. In such event:either of the Parties.

Appears in 1 contract

Samples: Asset Exchange Agreement

Procedure and Effect of Termination. In the event of termination of this Agreement and abandonment of the Transactions by either or both of the parties pursuant to SECTION 8.1 (other than a termination contemplated hereby by any party pursuant to Section 9.1SECTION 8.1(A)), written notice thereof, in accordance with SECTION 13.2, shall forthwith be given by the terminating party seeking to terminate the other party and this Agreement shall give prompt written notice thereof to the other party, terminate and the transactions contemplated hereby Transactions shall be abandoned, without further action by any party of the parties hereto. In such eventIf this Agreement is terminated as provided herein:

Appears in 1 contract

Samples: Agreement of Purchase and Sale of Assets (U S Aggregates Inc)

Procedure and Effect of Termination. In the event of a termination contemplated hereby of this Agreement by any party of the Parties pursuant to this Section 9.19, the party seeking to terminate this Agreement shall give prompt written notice thereof will forthwith be given by the terminating Party to the other party, Parties and this Agreement will terminate and the transactions contemplated hereby shall will be abandoned, without further action by any party hereto. In such event:either Party, whereupon the liabilities of the Parties hereunder will terminate, except as otherwise expressly provided in this Agreement (including Section 9.3).

Appears in 1 contract

Samples: Agreement and Plan of Merger (Novastar Resources Ltd.)

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