Common use of Right to Rescind Clause in Contracts

Right to Rescind. The parties to this Agreement agree and confirm ----------------- that P2S shall have the right to rescind this Agreement and the transactions contemplated hereby, and cause the parties to be restored to their status immediately prior to the Closing, in the event that the audited financial statements of Seller described in the last sentence of Section 3.9 cannot be prepared and timely filed with the Securities and Exchange Commission.