Example ContractsClausesFrustration of Closing Conditions
Frustration of Closing Conditions
Frustration of Closing Conditions contract clause examples

Neither the Sellers nor the Buyer may rely on the failure of any condition set forth in this Article V to be satisfied if such failure was caused by such party’s failure to act in good faith or to use commercially reasonable efforts to cause the applicable conditions to Closing of the other party to be satisfied.

Neither Buyer nor Sellers may rely, either as a basis for not consummating the transactions contemplated in this Agreement or terminating this Agreement in accordance with this Agreement and abandoning the transactions contemplated in this Agreement, on the failure of any condition set forth in Section 8.1(a) or Section 8.1(b) or Section 8.2(a) or Section 8.2(b), as the case may be, to be satisfied if such failure was caused by such Party’s breach of any provision of this Agreement or failure to act in good faith.

Section # Frustration of Closing Conditions

Frustration of Closing Conditions. No Party may rely on the failure of any condition set forth in Section ‎8.1 or Section ‎8.2, as the case may be, to be satisfied if such failure was caused by such Party’s failure to comply with its obligations to consummate the transactions contemplated by this Agreement as required by and subject to Section ‎7.4.

Neither Buyer nor Sellers may rely, either as a basis for not consummating the transactions contemplated in this Agreement or terminating this Agreement in accordance with this Agreement and abandoning the transactions contemplated in this Agreement, on the failure of any condition set forth in Section 8.1(a), Section 8.1(b) or Section 8.1(f), or Section 8.2(a), Section 8.2(b) or Section 8.2(f), as the case may be, to be satisfied if such failure was caused by such Party’s breach of any provision of this Agreement (or, as it pertains to the conditions in Section 8.1(f) and Section 8.2(f), the breach by such Party or its Affiliate of the Concurrent PSA) or failure of such Party or its Affiliate to act in good faith. For clarity, for purposes of this Section 8.3, Sellers and the “Seller” under the Concurrent PSA are Affiliates of one another.

Frustration of Closing Conditions. Neither Buyer nor Seller may rely, either as a basis for not consummating the transactions contemplated in this Agreement or terminating this Agreement in accordance with this Agreement and abandoning the transactions contemplated in this Agreement, on the failure of any condition set forth in [Section 8.1(a)] [Section 8.1(b)] or [Section 8.1(f)] or [Section 8.2(a)], [Section 8.2(b)] or [Section 8.2(f)], as the case may be, to be satisfied if such failure was caused by such Party’s breach of any provision of this Agreement (or, as it pertains to the conditions in [Section 8.1(f)] and [Section 8.2(f)], the breach by such Party or its Affiliate of the Concurrent PSA) or failure of such Party or its Affiliate to act in good faith. For clarity, for purposes of this [Section 8.3], Seller and the “Seller” under the Concurrent PSA are Affiliates of one another.

Neither Buyer nor Seller may rely, either as a basis for not consummating the transactions contemplated in this Agreement or terminating this Agreement in accordance with this Agreement and abandoning the transactions contemplated in this Agreement, on the failure of any condition set forth in Section 8.1(a) or Section 8.1(b), or Section 8.2(a) or Section 8.2(b), as the case may be, to be satisfied if such failure was caused by such Party’s breach of any provision of this Agreement or failure of such Party or its Affiliate to act in good faith.

No Frustration. The Company shall not enter into, announce or recommend to its stockholders any agreement, plan, arrangement or transaction in or of which the terms thereof would restrict, materially delay, conflict with or impair the ability or right of the Company to perform its obligations under this Agreement, including, without limitation, the obligation of the Company to deliver # the Commitment Shares to the Investor as DWAC Shares not later than 4:00 p.m. (New York time) on the Trading Day immediately following the Commencement Date, and # the Shares to the Investor in respect of [[Organization A:Organization]] VWAP Purchase not later than the applicable VWAP Purchase Settlement Date for such VWAP Purchase. For the avoidance of doubt, nothing in this Section 5.5(a)[[Organization A:Organization]] shall in any way limit the Company’s right to terminate this Agreement in accordance with Section 7.1 (subject in all cases to Section 7.3).

SECTION # Frustration of Closing Conditions.

Section # Frustration of Closing Conditions.

Next results

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.