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

Feature Image: HackerNoon’s Stable Diffusion AI, Prompt “Signing on the Dotted Line”

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.