Common use of HSR Denial Clause in Contracts

HSR Denial. The licenses granted pursuant to Article 2 shall not be effective until the HSR Clearance Date, if applicable, otherwise the licenses shall be effective as of the Effective Date. In the event that either (a) the FTC and/or the DOJ shall seek a preliminary injunction under the HSR Act against Licensee and Licensor to enjoin the transactions contemplated by this Agreement or (b) the HSR Clearance Date (as defined in Section 14.2) shall not have occurred on or prior to December 31, 2017 this Agreement shall terminate and all payments made to Licensor and held in escrow pursuant to Section 14.1 shall be returned to Licensee.

HSR Denial. The licenses granted pursuant to Article 2 shall not be effective until the HSR Clearance Date, if applicable, otherwise the licenses shall be effective as of the Effective Date. In the event that either (a) the FTC and/or the DOJ shall seek a preliminary injunction under the HSR Act against Licensee and Licensor to enjoin the transactions contemplated by this Agreement or (b) the HSR Clearance Date (as defined in Section 14.2) shall not have occurred on or prior to December 31, 2017 this Agreement shall terminate and all payments made to Licensor and held in escrow pursuant to Section 14.1 shall be returned to Licensee. [THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK.]