Common use of Extinguishment of Interests Clause in Contracts

Extinguishment of Interests. (a) Expiration of the Term shall automatically cause, as of the expiration date, the complete reversion to the Department, and cessation, of the Developer’s Interest, at no charge to the Department, but subject to Section 19.6.4.6 of the Agreement and without prejudice to any Claim of liability pursuant to Section 19.8.3 of the Agreement. (b) Early termination of this Lease and the Agreement shall automatically cause, as of the Termination Date, the complete reversion to the Department, and cessation, of the Developer’s Interest, except for its right to Termination Compensation.