This excerpt taken from the MBRX 8-K filed Apr 22, 2008.
(a) This Agreement may be terminated and the sale and purchase of the Common Shares and the Warrants abandoned at any time prior to the Closing, by written notice of any individual Purchaser, if the Closing has not occurred within five business days of the date hereof (other than as a result of the failure on the part of the party giving such notice of termination to perform its covenants and obligations under this Agreement in all material respects); provided, however, that the abandonment of the sale and purchase of the Common Shares and the Warrants shall be applicable only to such Purchaser providing such written notice.
(b) If this Agreement is terminated pursuant to this Section 8.1 all further obligations of the Company to such Purchaser and of such Purchaser shall terminate; provided,
however, that (i) no party shall be relieved of any liability arising from any breach by such party of any provision of this Agreement and (ii) the parties shall, in all events, remain bound by and continue to be subject to the provisions set forth in this Article 8.
This excerpt taken from the MBRX 8-K filed Mar 27, 2006.
14. Termination. In the event that the Placement Agreement is terminated by the Placement Agents pursuant to the terms thereof, this Agreement shall terminate without any further action on the part of the parties hereto.
This excerpt taken from the MBRX 10-Q filed Aug 15, 2005.
10.2 Termination at Will. In the event that Merck has abandoned its research efforts directed toward the Biological Target prior to the expiration of the Research Term, Merck may terminate this Agreement upon [***] prior written notice to Metabasis given no earlier than the [***]. In addition, at any time following the expiration of the Research Term, Merck may terminate this Agreement upon [***] prior written notice to Metabasis.