Closing or Termination. In the event the Closing of this Agreement shall not take place by July 31, 2000, due to failure of any condition of closing required herein, then any party shall have the right to terminate this Agreement, upon written notice to the other parties, in which event no party shall have any further right or obligation as against any other. If either Logical or Color shall fail to close for any reason other than solely as a result of the failure of any condition of closing required herein to be performed on the part of LAC, CAC or Advatex, then Logical and Color, jointly and severally, shall pay to Advatex the reasonable costs for legal fees incurred in connection with the proposed Mergers, such sum not to exceed $25,000, plus reasonable disbursements.
Appears in 2 contracts
Sources: Merger Agreement (Color Imaging Inc), Merger Agreement (Amour St Edwin)