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, in which event no party shall have any further right or obligation as against any other. If WCIN 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 WCID or Medical, then WCIN shall pay to Medical the reasonable costs for legal fees incurred in connection with the proposed Merger, such sum not to exceed $75,000, plus reasonable disbursements.
Appears in 2 contracts
Sources: Merger Agreement (Shuey Susan), Merger Agreement (World Collectibles Inc)