Common use of Failure of a Condition Precedent Clause in Contracts

Failure of a Condition Precedent. In the event that on or prior to the Closing Date any of the foregoing conditions precedent cannot be satisfied on the Closing Date and Contributor or Acquiror, as the case may be, is not willing to give a written waiver of such condition precedent, then any Contributor or Acquiror shall have the right to terminate this Agreement upon written notice of such failure, and this Agreement shall be deemed terminated without any further act of deed of any party.

Failure of a Condition Precedent. In the event that on or prior to the Closing Date any of the foregoing conditions precedent cannot be satisfied on the Closing Date and any Contributor or Acquiror, as the case may be, is not willing to give a written waiver of such condition precedent, then any Contributor or Acquiror shall have the right to terminate this Agreement upon written notice of such failure, and this Agreement shall be deemed terminated without any further act of deed of any party.

Failure of a Condition Precedent. In the event that on or prior to the Closing Date any of the foregoing conditions precedent cannot be satisfied on the Closing Date and each Contributor or Acquiror, as the case may be, is not willing to give a written waiver of such condition precedent, then either any Contributor or Acquiror shall have the right to terminate this Agreement upon written notice of such failure, and this Agreement shall be deemed terminated without any further act of deed of any party.