Extract to table
Pull the structured facts out of a document: parties, dates, amounts, obligations.
Extract to table / reverse-termination-fee-inapplicability-memo.docx
reverse-termination-fee-inapplicability-memo.docx
Parties
HARKNESS LLP
Penterra Pharmaceuticals Corp
Ridgeway Partners LLC
Cole LLP
Broadleaf Scientific Consulting LLC
Huntsman Corp
Diamond State Port Corp
Dates
October 10, 2024
June 10, 2024
September 30, 2024
August 14, 2024
August 22, 2024
June 7, 2024
October 1, 2024
December 31, 2023
September 8, 2024
December 10, 2024
Amounts
$45,000,000
$500,000,000
$2.1
$900,000,000
$87.3
$14.2
$4.87
$400,000,000
$1,750,000
$4,795
Obligations
2(a) provides that the representations and warranties of the Sellers set forth in Article III of the SPA shall be true and correct in all respects (subject to the materiality and material adverse effect qualifiers set forth therein) as of the Closing Date as though made on and as of such date (except to the extent that any such representation or warranty expressly relates to an earlier date, in which case it shall be true and correct as of such earlier date)
2(b) provides that no material adverse effect shall have occurred since the date of the SPA (June 10, 2024) and be continuing as of the Closing Date
1, the SPA shall become void and of no further force or effect, and there shall be no liability on the part of any party hereto, except that the following provisions shall survive termination: (i) the confidentiality obligations set forth in Section 5
3 includes a proviso that the foregoing limitation on liability shall not relieve any party from liability for damages arising from a "willful and material breach" of the SPA
To illustrate: it is true that the conditions precedent to funding under the Commitment Letter include a "SPA Rep Condition" requiring that the representations and warranties of the Sellers under the SPA be true and correct, and a "No MAE Condition" requiring that no MAE shall have occurred
Under the well-established Delaware canon that all provisions of a contract must be given effect and no provision should be rendered superfluous, see DCV Holdings, Inc