Settlement Conditions. With the exception of the settlement of the EBOF-BFI Note (as defined in Section 2.1), the Parties hereby agree that the terms, conditions and covenants herein shall be contingent upon the final closing of the Merger (the “Closing”) and the Parties shall not be bound by such terms of this Agreement until such Closing which, according to the LOI, shall occur by or before June 30, 2008.
Appears in 2 contracts
Sources: Settlement Agreement (PNG Ventures Inc), Settlement Agreement (Earth Biofuels Inc)