Common use of Contract Terminations Clause in Contracts

Contract Terminations. Upon a termination of this Contract, either party to this Contract (the “Terminating Party”) may give written notice to the Escrow Agent and the other party (the “Non-Terminating Party”) of such termination and the reason for such termination. Such request shall also constitute a request for the release of the applicable Independent Contract Consideration to the Seller and the remainder of the ▇▇▇▇▇▇▇ Money to the Purchaser. The Non-Terminating Party shall then have five Business Days in which to object in writing to the release of the ▇▇▇▇▇▇▇ Money. If the Non-Terminating Party provides such an objection, then the Escrow Agent shall retain the ▇▇▇▇▇▇▇ Money until it receives written instructions executed by both Seller and Purchaser as to the disposition and disbursement of the ▇▇▇▇▇▇▇ Money, or until ordered by final court order, decree or judgment, which is not subject to appeal, to deliver the ▇▇▇▇▇▇▇ Money to a particular party, in which event the ▇▇▇▇▇▇▇ Money shall be delivered in accordance with such notice, instruction, order, decree or judgment.

Contract Terminations. Upon a termination of this ContractAgreement in accordance with its terms, either the party with the right to terminate this Contract Agreement (the “Terminating Party”) may give written notice to the Escrow Agent and the other party (the “Non-Terminating Party”) of such termination and the reason for such termination. Such request shall also constitute a request for the release of the applicable Independent Contract Consideration to the Seller and the remainder of the ▇▇▇▇▇▇▇ Money to the PurchaserTerminating Party. The Non-Terminating Party shall then have five Business Days business days in which to object in writing to the release of the ▇▇▇▇▇▇▇ MoneyMoney to the Terminating Party. If the Non-Terminating Party provides such an objection, then the Escrow Agent shall retain the ▇▇▇▇▇▇▇ Money until it receives written instructions executed by both Seller and Purchaser as to the disposition and disbursement of the ▇▇▇▇▇▇▇ Money, or until ordered by final court order, decree or judgment, which is not subject to appeal, to deliver the ▇▇▇▇▇▇▇ Money to a particular party, in which event the ▇▇▇▇▇▇▇ Money shall be delivered in accordance with such notice, instruction, order, decree or judgment. Notwithstanding the foregoing, or anything to the contrary contained herein, in the event Purchaser terminates this Agreement in accordance with the terms of Section 2.4 herein, then Escrow Agent shall promptly, and without the requirement of notice from the Seller, return the ▇▇▇▇▇▇▇ Money to Purchaser.