Common use of Termination of Obligations and Waiver of Conditions; Payment of Expenses Clause in Contracts

Termination of Obligations and Waiver of Conditions; Payment of Expenses. In the event this Agreement and the acquisition are terminated and abandoned pursuant to this Article 10 hereof, this Agreement shall become void and of no force and effect and there shall be no liability on the part of any of the parties hereto, or their respective directors, officers, shareholders or controlling persons to each other. For the costs and expenses incident to its negotiation and preparation of this Agreement and any of the documents evidencing the transactions contemplated hereby, including fees, expenses and disbursements of counsel, Shaft shareholders shall bear the expenses incurred by Shaft, and Elegant shareholders shall bear the expenses incurred by Elegant.