This Contract shall become effective upon being signed by both parties.
This Contract shall become effective (“Effective Date”) upon fulfillment of all the following conditions:
(1) Signing by both parties of this Contract; and
(2) Board approval by the BUYER and SELLER within xx days of signing of this Contract by each of the parties hereto;
(3) Receipt by the BUYER of the Refund Guarantee in the form annexed hereto as Exhibit A issued by the Refund Guarantor in accordance with Clause 7 Article II hereof; and
(4) Receipt by the SELLER of the 1st installment in accordance with Clause 3 (a) and 4(a) of Article II of this Contract.
If, due to any reason whatsoever, any of the above conditions fail to be fulfilled on or before xx, xx, 20xx, then this Contract shall be null and void, having no effect whatsoever and no party shall be liable to the other for any loss or damage (if any) whether under this Contract or under any applicable laws.
“This Contract sets forth the entire understanding of the Parties with respect to the subject matter discussed herein. It supersedes all prior discussions, negotiations and agreements, (including but not limited to the Letter of Intentd / Option Agreement) whether oral or written, expressed or implied.”