What termination exposure exists if financing fails?
The buyer may terminate if financing is unavailable by the outside date, but the termination fee remains payable when the financing failure follows a material covenant breach.03
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Review the acquisition agreementThe buyer may terminate if financing is unavailable by the outside date, but the termination fee remains payable when the financing failure follows a material covenant breach.03
Parent may terminate this Agreement if the Closing has not occurred on or before the Outside Date; provided that the right to terminate shall not be available to a party whose material breach was the principal cause of the failure to close.
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