Common use of Termination and Postponement Clause in Contracts

Termination and Postponement. This Agreement and the Share Exchange contemplated hereby may be terminated, and the transactions provided for herein abandoned, , as follows: (a) at any time prior to but not after the Effective Date by mutual consent of the the Company and Cignet, or (b) at the sole option of Cignet, at any time following five (5) business days after the Effective Date if the Company IPO shall not have been consummated and the Rank Indebtedness paid in full within five (5) business days following such Effective Date In the event of the termination and abandonment of this Agreement and the Share Exchange contemplated hereby, this Agreement shall become void and of no effect, without any liability on the part of any party or its directors, officers, or shareholders.

Termination and Postponement. This Agreement and the Share Exchange contemplated hereby may be terminated, and the transactions provided for herein abandoned, , as follows: (a) at any time prior to but not after the Effective Date by mutual consent of the the Company and Cignet, or (b) at the sole option of Cignet, at any time following five (5) business days after the Effective Date if the Company IPO shall not have been consummated and the Rank Indebtedness paid in full within five (5) business days following such Effective Date In the event of the termination and abandonment of this Agreement and the Share Exchange contemplated hereby, this Agreement shall become void and of no effect, without any liability on the part of any party or its directors, officers, or shareholders.