Common use of Termination Extension Clause in Contracts

Termination Extension. Notwithstanding any other provision to the contrary, if by December 31, 2022, the Closing has not occurred, then either party may send a Termination Notice. If neither party sends a Termination Notice, the parties may negotiate a mutually agreeable extension of the Closing Date, provided either party may send a Termination Notice at any time during such negotiations. If the termination is based solely on the failure to close by April 30, 2022, then each party’s sole remedy will be the receipt if its respective portion of the Escrow Deposit per Section 9.3(c).” c. Exhibit A is amended by: i. Replacing the definition of “Adjusted Transaction Consideration Amount” in its entirety with the following:

Termination Extension. Notwithstanding any other provision to the contrary, if by December 31April 30, 2022, the Closing has not occurred, then either party may send a Termination Notice. If neither party sends a Termination Notice, the parties may negotiate a mutually agreeable extension of the Closing Date, provided either party may send a Termination Notice at any time during such negotiations. If the termination is based solely on the failure to close by April 30, 2022, then each party’s sole remedy will be the receipt if its respective portion of the Escrow Deposit per Section 9.3(c).” c. d. Exhibit A is amended by: i. Replacing the definition of “Adjusted Transaction Consideration Amount” in its entirety with the following: