Common use of Failure to Close Clause in Contracts

Failure to Close. If any of the conditions to the Closing specified in this Agreement shall not have been fulfilled to the satisfaction of the Placement Agents or if the Closing shall not have occurred on or before 10:00 a.m. (New York City time) on May 22, 2003, then each party hereto, notwithstanding anything to the contrary in this Agreement, shall be relieved of all further obligations under this Agreement without thereby waiving any rights it may have by reason of such nonfulfillment or failure; provided, however, that the obligations of the parties under Sections 2.4.2, 7.5 and 9 shall not be so relieved and shall continue in full force and effect.

Appears in 3 contracts

Sources: Placement Agreement (Pxre Group LTD), Placement Agreement (Fpic Insurance Group Inc), Placement Agreement (American Physicians Capital Inc)

Failure to Close. If any of the conditions to the Closing specified in this Agreement shall not have been fulfilled to the satisfaction of the Placement Agents or if the Closing shall not have occurred on or before 10:00 a.m. (New York City time) on May 22November 5, 2003, or such later Closing Date consented to by the Purchaser pursuant to Section 2.3.1, then each party hereto, notwithstanding anything to the contrary in this Agreement, shall be relieved of all further obligations under this Agreement without thereby waiving any rights it may have by reason of such nonfulfillment or failure; provided, however, that the obligations of the parties under Sections 2.4.2, 7.5 and 9 shall not be so relieved and shall continue in full force and effect.

Appears in 2 contracts

Sources: Placement Agreement (American Physicians Capital Inc), Placement Agreement (Fpic Insurance Group Inc)

Failure to Close. If any of the conditions to the Closing specified in this Agreement shall not have been fulfilled to the satisfaction of the Placement Agents or if the Closing shall not have occurred on or before 10:00 a.m. (New York City time) on May December 22, 20032004 or such later Closing Date consented to by the Purchaser pursuant to Section 2.3.1, then each party hereto, notwithstanding anything to the contrary in this Agreement, shall be relieved of all further obligations under this Agreement without thereby waiving any rights it may have by reason of such nonfulfillment or failure; providedPROVIDED, howeverHOWEVER, that the obligations of the parties under Sections 2.4.2, 7.5 and 9 shall not be so relieved and shall continue in full force and effect.

Appears in 1 contract

Sources: Placement Agreement (Tower Group, Inc.)

Failure to Close. If any of the conditions to the Closing specified in this Agreement shall not have been fulfilled to the satisfaction of the Placement Agents Agent or if the Closing shall not have occurred on or before 10:00 11:00 a.m. (New York City time) on May 22September 4, 20032005, then each party hereto, notwithstanding anything to the contrary in this Agreement, shall be relieved of all further obligations under this Agreement without thereby waiving any rights it may have by reason of such nonfulfillment or failure; provided, however, that the obligations of the parties under Sections 2.4.22.4, 7.5 and 9 8 shall not be so relieved and shall continue in full force and effect.

Appears in 1 contract

Sources: Placement Agreement (Southcoast Financial Corp)

Failure to Close. If any of the conditions to the Closing specified in this Agreement shall not have been fulfilled to the satisfaction of the Placement Agents or if the Closing shall not have occurred on or before 10:00 a.m. (New York City time) on May 22November 5, 20032003 or such later Closing Date consented to by the Purchaser pursuant to Section 2.3.1, then each party hereto, notwithstanding anything to the contrary in this Agreement, shall be relieved of all further obligations under this Agreement without thereby waiving any rights it may have by reason of such nonfulfillment or failure; provided, however, that the obligations of the parties under Sections 2.4.2, 7.5 and 9 shall not be so relieved and shall continue in full force and effect.

Appears in 1 contract

Sources: Placement Agreement (Pxre Group LTD)

Failure to Close. If any of the conditions to the Closing specified in this Agreement shall not have been fulfilled to the satisfaction of the Placement Agents Agent or if the Closing shall not have occurred on or before 10:00 11:00 a.m. (New York City time) on May 22January 15, 20032007, then each party hereto, notwithstanding anything to the contrary in this Agreement, shall be relieved of all further obligations under this Agreement without thereby waiving any rights it may have by reason of such nonfulfillment or failure; provided, however, that the obligations of the parties under Sections 2.4.2, 7.5 2.4 and 9 8 shall not be so relieved and shall continue in full force and effect.

Appears in 1 contract

Sources: Placement Agreement (Horizon Bancorp /In/)

Failure to Close. If any of the conditions to the Closing specified in this Agreement shall not have been fulfilled to the satisfaction of the Placement Agents or if the Closing shall not have occurred on or before 10:00 a.m. (New York City time) on May 22December 1, 20032005 or such later Closing Date consented to by the Purchaser pursuant to Section 2.3.1, then each party hereto, notwithstanding anything to the contrary in this Agreement, shall be relieved of all further obligations under this Agreement without thereby waiving any rights it may have by reason of such nonfulfillment or failure; provided, however, that the obligations of the parties under Sections 2.4.2, 7.5 and 9 shall not be so relieved and shall continue in full force and effect.

Appears in 1 contract

Sources: Placement Agreement (American Safety Insurance Holdings LTD)

Failure to Close. If any of the conditions to the Closing specified in this Agreement shall not have been fulfilled to the reasonable satisfaction of the Placement Agents Agent or if the Closing shall not have occurred on or before 10:00 11:00 a.m. (New York City time) on May 2219, 20032006, then each party hereto, notwithstanding anything to the contrary in this Agreement, shall be relieved of all further obligations under this Agreement without thereby waiving any rights it may have by reason of such nonfulfillment or failure; provided, however, that the obligations of the parties under Sections 2.4.2, 7.5 2.4 and 9 8 shall not be so relieved and shall continue in full force and effect.

Appears in 1 contract

Sources: Placement Agreement (Blue River Bancshares Inc)

Failure to Close. If any of the conditions to the Closing specified in this Agreement shall not have been fulfilled to the satisfaction of the Placement Agents Agent or if the Closing shall not have occurred on or before 10:00 a.m. (New York City time) on May 22December 29, 20032004 or such later Closing Date consented to by the Purchaser pursuant to Section 2.3.1, then each party hereto, notwithstanding anything to the contrary in this Agreement, shall be relieved of all further obligations under this Agreement without thereby waiving any rights it may have by reason of such nonfulfillment or failure; providedPROVIDED, howeverHOWEVER, that the obligations of the parties under Sections 2.4.2, 7.5 and 9 shall not be so relieved and shall continue in full force and effect.

Appears in 1 contract

Sources: Placement Agreement (Tower Group, Inc.)

Failure to Close. If any of the conditions to the Closing specified in this Agreement shall not have been fulfilled to the satisfaction of the Placement Agents or if the Closing shall not have occurred on or before 10:00 a.m. (New York City time) on May 2215, 2003, then each party hereto, notwithstanding anything to the contrary in this Agreement, shall be relieved of all further obligations under this Agreement without thereby waiving any rights it may have by reason of such nonfulfillment or failure; provided, however, that the obligations of the parties under Sections 2.4.2, 7.5 and 9 shall not be so relieved and shall continue in full force and effect.

Appears in 1 contract

Sources: Placement Agreement (Penn America Group Inc)

Failure to Close. If any of the conditions to the Closing specified in this Agreement shall not have been fulfilled to the satisfaction of the Placement Agents or if the Closing shall not have occurred on or before 10:00 a.m. (New York City time) on May 22January 25, 20032007 or such later Closing Date consented to by the Purchaser pursuant to Section 2.3.1, then each party hereto, notwithstanding anything to the contrary in this Agreement, shall be relieved of all further obligations under this Agreement without thereby waiving any rights it may have by reason of such nonfulfillment or failure; provided, however, that the obligations of the parties under Sections 2.4.2, 7.5 2.4.2 and 9 shall not be so relieved and shall continue in full force and effect.

Appears in 1 contract

Sources: Placement Agreement (Tower Group, Inc.)

Failure to Close. If any of the conditions to the Closing specified in this Agreement shall not have been fulfilled to the satisfaction of the Placement Agents Agent or if the Closing shall not have occurred on or before 10:00 11:00 a.m. (New York City time) on May 22June 29, 20032005, then each party hereto, notwithstanding anything to the contrary in this Agreement, shall be relieved of all further obligations under this Agreement without thereby waiving any rights it may have by reason of such nonfulfillment or failure; provided, however, that the obligations of the parties under Sections 2.4.22.4, 7.5 and 9 8 shall not be so relieved and shall continue in full force and effect.

Appears in 1 contract

Sources: Placement Agreement (Hersha Hospitality Trust)

Failure to Close. If any of the conditions to the Closing specified in this Agreement shall not have been fulfilled to the satisfaction of the Placement Agents Agent or if the Closing shall not have occurred on or before 10:00 11:00 a.m. (New York City time) on May 22January 26, 20032007, then each party hereto, notwithstanding anything to the contrary in this Agreement, shall be relieved of all further obligations under this Agreement without thereby waiving any rights it may have by reason of such nonfulfillment or failure; provided, however, that the obligations of the parties under Sections 2.4.2, 7.5 2.4 and 9 8 shall not be so relieved and shall continue in full force and effect.

Appears in 1 contract

Sources: Placement Agreement (Greer Bancshares Inc)

Failure to Close. If any of the conditions to the Closing specified in this Agreement shall not have been fulfilled to the satisfaction of the Placement Agents Agent or if the Closing shall not have occurred on or before 10:00 11:00 a.m. (New York City time) on May 22January 5, 20032006, then each party hereto, notwithstanding anything to the contrary in this Agreement, shall be relieved of all further obligations under this Agreement without thereby waiving any rights it may have by reason of such nonfulfillment or failure; provided, however, that the obligations of the parties under Sections 2.4.22.4, 7.5 and 9 8 shall not be so relieved and shall continue in full force and effect.

Appears in 1 contract

Sources: Placement Agreement (Vision Bancshares Inc)

Failure to Close. If any of the conditions to the Closing specified in this Agreement shall not have been fulfilled to the satisfaction of the Placement Agents or if the Closing shall not have occurred on or before 10:00 a.m. (New York City time) on May 22December 4, 20032002, then each party hereto, notwithstanding anything to the contrary in this Agreement, shall be relieved of all further obligations under this Agreement without thereby waiving any rights it may have by reason of such nonfulfillment or failure; provided, however, that the obligations of the parties under Sections 2.4.2, 7.5 and 9 shall not be so relieved and shall continue in full force and effect.

Appears in 1 contract

Sources: Placement Agreement (Penn America Group Inc)

Failure to Close. If any of the conditions to the Closing specified in this Agreement shall not have been fulfilled to the satisfaction of the Placement Agents or if the Closing shall not have occurred on or before 10:00 a.m. (New York City time) on May 22, 2003, then each party hereto, notwithstanding anything to the contrary in this Agreement, shall be relieved of all further obligations under this Agreement without thereby waiving any rights it may have by reason of such nonfulfillment or failure; providedPROVIDED, howeverHOWEVER, that the obligations of the parties under Sections 2.4.2, 7.5 and 9 shall not be so relieved and shall continue in full force and effect.

Appears in 1 contract

Sources: Placement Agreement (Donegal Group Inc)

Failure to Close. If any of the conditions to the Closing specified in this Agreement shall not have been fulfilled to the satisfaction of the Placement Agents Agent or if the Closing shall not have occurred on or before 10:00 11:00 a.m. (New York City time) on May 22January 20, 20032006, then each party hereto, notwithstanding anything to the contrary in this Agreement, shall be relieved of all further obligations under this Agreement without thereby waiving any rights it may have by reason of such nonfulfillment or failure; provided, however, that the obligations of the parties under Sections 2.4.22.4, 7.5 and 9 8 shall not be so relieved and shall continue in full force and effect.

Appears in 1 contract

Sources: Placement Agreement (Greenville First Bancshares Inc)

Failure to Close. If any of the conditions to the Closing specified in this Agreement shall not have been fulfilled to the satisfaction of the Placement Agents Purchaser or if the Closing shall not have occurred on or before 10:00 11:00 a.m. (New York City time) on May 22June 7, 20032007, then each party hereto, notwithstanding anything to the contrary in this Agreement, shall be relieved of all further obligations under this Agreement without thereby waiving any rights it may have by reason of such nonfulfillment or failure; provided, however, that the obligations of the parties under Sections 2.4.2, 7.5 2.4 and 9 8 shall not be so relieved and shall continue in full force and effect.

Appears in 1 contract

Sources: Purchase Agreement (Medallion Financial Corp)

Failure to Close. If any of the conditions to the Closing specified in this Agreement shall not have been fulfilled to the satisfaction of the Placement Agents or if the Closing shall not have occurred on or before 10:00 a.m. (New York City time) on May 22March 29, 20032007 or such later Closing Date consented to by the Purchaser pursuant to Section 2.3.1, then each party hereto, notwithstanding anything to the contrary in this Agreement, shall be relieved of all further obligations under this Agreement without thereby waiving any rights it may have by reason of such nonfulfillment or failure; provided, however, that the obligations of the parties under Sections 2.4.20, 7.5 and 9 shall not be so relieved and shall continue in full force and effect.

Appears in 1 contract

Sources: Placement Agreement (KMG America CORP)

Failure to Close. If any of the conditions to the Closing specified in this Agreement shall not have been fulfilled to the satisfaction of the Placement Agents Agent or if the Closing shall not have occurred on or before 10:00 11:00 a.m. (New York City time) on May 22January 14, 20032005, then each party hereto, notwithstanding anything to the contrary in this Agreement, shall be relieved of all further obligations under this Agreement without thereby waiving any rights it may have by reason of such nonfulfillment or failure; provided, however, that the obligations of the parties under Sections 2.4.22.4, 7.5 and 9 8 shall not be so relieved and shall continue in full force and effect.

Appears in 1 contract

Sources: Placement Agreement (Community Shores Bank Corp)