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Posted On: 01/07/2021 1:37:11 PM
Post# of 36541
The Form 10 explicitly says it becomes effective after 60 days. So I didn't know if the 8k works the same way.
The 8k guidance does say this:
Item 1.02 Termination of a Material Definitive
Agreement.
No Form 8‐K needs to be filed if the
agreement, even if material, is terminated by
its terms.
So if the deal was terminated per the terms:
Either party shall have the right to terminate this Agreement at any time: (i) any party fails to perform its obligations under this Agreement and fails to cure such default within ten business days after notified by written notice from any non-breaching party; (ii) if Party B has not provide relevant Technical Information to the cooperative research team in accordance with Section 2.1 of this Agreement, the Joint Entity may notify Party B in writing and terminate this Agreement. (iii) Due to changes in national laws and regulations or related management provisions, the party C can not complete the framework agreement, and the party C has the right to terminate the framework agreement without any responsibility.,
an 8k is not required.
Again, if EOB comes and we don't hear anything, I think we should each ask for clarification. This is substantial.
The 8k guidance does say this:
Item 1.02 Termination of a Material Definitive
Agreement.
No Form 8‐K needs to be filed if the
agreement, even if material, is terminated by
its terms.
So if the deal was terminated per the terms:
Either party shall have the right to terminate this Agreement at any time: (i) any party fails to perform its obligations under this Agreement and fails to cure such default within ten business days after notified by written notice from any non-breaching party; (ii) if Party B has not provide relevant Technical Information to the cooperative research team in accordance with Section 2.1 of this Agreement, the Joint Entity may notify Party B in writing and terminate this Agreement. (iii) Due to changes in national laws and regulations or related management provisions, the party C can not complete the framework agreement, and the party C has the right to terminate the framework agreement without any responsibility.,
an 8k is not required.
Again, if EOB comes and we don't hear anything, I think we should each ask for clarification. This is substantial.
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