Effect on Obligations. Termination of this Agreement pursuant to this Article 12 shall terminate all obligations and liability of the parties hereunder and this Agreement shall become void and no party shall have any obligation or liability thereunder, except for the obligations under Sections 5.3, 6.1. and 10.2.
Appears in 2 contracts
Sources: Stock Acquisition Agreement and Plan of Merger (Ixc Communications Inc), Stock Acquisition Agreement and Plan of Merger (Ixc Communications Inc)
Effect on Obligations. Termination of this Agreement pursuant to this Article 12 shall terminate all obligations and liability of the parties hereunder and this Agreement shall become void and no party shall have any obligation or liability thereunderhereunder, except for the obligations under Sections 5.314.1, 6.1. 14.2, 14.8, 14.9, and 10.214.11; provided, however, that termination by Buyer or Seller pursuant to clauses (b) or (c) of Section 12.1 shall not relieve the defaulting or breaching party from any liability to the other party hereto.
Appears in 2 contracts
Sources: Asset Purchase Agreement (Lamar Advertising Co), Asset Purchase Agreement (Outdoor Systems Inc)
Effect on Obligations. Termination of this Agreement pursuant to this Article 12 XI shall terminate all obligations and liability of the parties hereunder and this Agreement shall become void and no party shall have any obligation or liability thereunderhereunder, except for the obligations under Sections 5.312.2, 6.1. 12.11 and 10.212.12 hereof; provided, however, that termination pursuant to clause (b) or (c) of Section 11.1 shall not relieve the defaulting or breaching party from any liability to the other party hereto.
Appears in 1 contract
Effect on Obligations. Termination of this Agreement pursuant to this Article 12 VII shall terminate all obligations and liability of the parties hereunder and this Agreement shall become void and no party shall have any obligation or liability thereunderhereunder, except for the their obligations under Sections 5.3, 6.1. 9.6 and 10.29.11; provided, however, that termination pursuant to Section 7.1(b) shall not relieve the defaulting or breaching party from any liability to the other party hereto.
Appears in 1 contract
Effect on Obligations. Termination of this Agreement pursuant to this Article 12 11 shall terminate all further obligations and liability of the parties hereunder and this Agreement shall become void and no party shall have any obligation or liability thereunderhereunder, except for the obligations under Sections 5.3Article 13 and Article 14 hereof and under the Confidentiality Agreement; provided, 6.1. and 10.2however, that termination pursuant to section 11.1(c) by reason of a default under or breach of any covenant or agreement, or by reason of a failure of a representation to be true in any material respect, shall not relieve the defaulting or breaching party from any liability to the other party hereunder.
Appears in 1 contract
Effect on Obligations. Termination of this Agreement pursuant to this Article 12 Section 7 shall terminate all obligations and liability of the parties hereunder and this Agreement shall become void and no party shall have any obligation or liability thereunderhereunder, except for the obligations under Sections 5.38.1, 6.1. 8.2, 8.9 and 10.28.12; provided, however, that nothing herein shall relieve the defaulting or breaching party from any liability to the other party hereto.
Appears in 1 contract
Effect on Obligations. Termination of this Agreement pursuant to this Article 12 Section 7.1 shall terminate all obligations and liability of the parties hereunder and this Agreement shall become void and no party shall have any obligation or liability thereunderhereunder, except for the obligations under Sections 5.39.6, 6.1. 9.9, 9.11, 9.12 and 10.2this Section 7.2; provided, however, that nothing herein shall relieve the defaulting or breaching party from any liability to the other parties hereto.
Appears in 1 contract
Sources: Securities Purchase Agreement (Shells Seafood Restaurants Inc)
Effect on Obligations. Termination of this Agreement pursuant to this Article 12 Section 7 shall terminate all obligations and liability of the parties hereunder and this Agreement shall become void and no party shall have any obligation or liability thereunderhereunder, except for the obligations under Sections 5.38.1, 6.1. 8.5, and 10.28.8; provided, however, that nothing herein shall relieve the defaulting or breaching party from any liability to the other party hereto.
Appears in 1 contract
Sources: Exchange Agreement (Xata Corp /Mn/)
Effect on Obligations. Termination of this Agreement pursuant to this Article 12 X shall terminate all obligations and liability of the parties hereunder and this Agreement shall become void and no party shall have any obligation or liability thereunderhereunder, except for the obligations under Article XI and Sections 5.312.08, 6.1. 12.09, and 10.212.11; provided, however, that termination by Seller pursuant to clause (b) or by Buyer or Seller pursuant to clause (c) of Section 10.01 shall not relieve the defaulting or breaching party from any liability to the other party hereto.
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Effect on Obligations. Termination of this Agreement pursuant to this Article 12 VIII shall terminate all obligations and liability of the parties hereunder and this Agreement shall become void and no party shall have any obligation or liability thereunderhereunder, except for the obligations under Sections 5.39.11, 6.1. 9.12 and 10.29.13, the last sentence of Section 4.03 and this Section 8.02; provided, however, that nothing shall relieve the defaulting or breaching party (whether or not it is the terminating party) from any liability to the other party hereto.
Appears in 1 contract
Sources: Purchase and Sale Agreement (Gulfstream Aerospace Corp)