Termination of Musk-Twitter Deal needed to happen before October 24, 2022 by@legalpdf

Termination of Musk-Twitter Deal needed to happen before October 24, 2022

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Twitter v. Elon Musk Court Filing by Potter Anderson & Corroon LLP, July 12, 2022 is part of HackerNoon’s Legal PDF Series. You can jump to any part in this filing here. This is part 12 of 31: .FACTUAL ALLEGATIONS-The Final, Agreed-upon Term Deals - Termination

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Twitter v. Elon Musk Court Filing by Potter Anderson & Corroon LLP, July 12, 2022 is part of HackerNoon’s Legal PDF Series. You can jump to any part in this filing here. This is part 12 of 31.

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FACTUAL ALLEGATIONS

III - The Final, Agreed-upon Term Deals

F. Termination

53. Defendants’ ability to terminate the agreement before the presumptive drop-dead date of October 24, 2022 is extremely limited and carefully circumscribed. While there are closing conditions related to the accuracy of Twitter’s representations and warranties and to Twitter’s compliance with its covenants, there is no right for defendants to terminate unless there is a breach sufficiently significant to cause failure of a closing condition, which, after due notice, is either incapable of being cured or is not cured within 30 days after such notice. Id. § 8.1(d). Defendants have no right to terminate, moreover, if any of them are in material breach of their own obligations under the agreement. Id.

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