No Further Interest Sample Clauses
The "No Further Interest" clause establishes that, after a certain event or date—such as full payment or settlement—no additional interest will accrue on the outstanding amount. In practice, this means that once the specified condition is met, the party owing money is no longer liable for any further interest charges, even if payment is delayed for administrative reasons. This clause provides certainty to both parties by clearly defining when interest obligations end, thereby preventing ongoing or unexpected interest liabilities.
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No Further Interest. Contributor acknowledges and agrees that effective upon the Closing, and without any further action by Contributor, the Contributed Interests shall be transferred, assigned and conveyed to the Operating Partnership, or a subsidiary thereof, and Contributor shall no longer be an equity holder of any of the Contributed Entities, shall no longer be entitled to receive any distributions from any of the Contributed Entities, and shall have no further right, title or interest in any of the Contributed Interests, the Contributed Entities or the Property Entities.
No Further Interest. The Seller acknowledges and agrees that effective upon the Closing, and without any further action by the Seller, the Interests shall be transferred, assigned and conveyed to the REIT and the Seller shall no longer be an equity holder of any Property Entity, shall no longer be entitled to receive any distributions from any Property Entity, and shall have no further right, title or interest in any of the Properties or the Property Entities.
No Further Interest. Seller acknowledges and agrees that effective upon Closing, the Interests shall be transferred, assigned and conveyed to Purchaser, or a subsidiary thereof, and 1 This form was created for the nine (9) transfers of membership interests related to the 1031 transaction. This form will be modified for the two (2) transfers of membership interests related to the Sale Properties, such that (i) the REIT replaces the OP as purchaser and (ii) definition and indemnity of GP (as GP of OP) are removed. Seller shall no longer be a direct holder of any equity interests in the Company, shall no longer be entitled to receive any distributions from the Company, and shall have no further right, title or interest in any of the Interests, the Company, or the Property, other than indirectly through the ownership of any equity interest in Purchaser or corporate stock in the REIT.
No Further Interest. Effective on the Closing, Seller hereby confirms he has no further interest of any kind in the Purchaser, the Interest, the Stock or the Company.
No Further Interest. Developer acknowledges that after conveyance of the Developer Property to the Club, Developer shall have no claim or interest in the Developer Property, except as may be provided in this Assignment, and no further claim or interest in Vacation Credits sold by it after expiration of Developer's purchase money security interest therein.
No Further Interest. Contributor acknowledges and agrees that effective at the Closing Date, and without any further action by Contributor, the Contributed Interests shall be transferred, assigned and conveyed to the Operating Partnership, or a subsidiary thereof, and Contributor shall no longer be a direct holder of any equity interests in the Contributed Entities, shall no longer be entitled to receive any distributions from any of the Contributed Entities, and shall have no further right, title or interest in any of the Contributed Interests, the Contributed Entities or the Properties, other than indirectly through the ownership of any OP Units.
No Further Interest. Other than as specifically set forth above, you shall have no interest in the Franchised Business upon termination or expiration of this Agreement.
No Further Interest. Other than as specifically set forth above, the Franchisee shall have no interest in the Franchised Business upon termination or expiration of this Agreement.
No Further Interest. If the Purchaser exchanges a Note in its entirety pursuant to this Section 2.09, then such Note shall be deemed to be paid in full and no further interest shall accrue thereunder.
No Further Interest. Other than as specifically set forth above, the Licensees shall have no interest in the Licensed Business upon termination or expiration of this Agreement.