Termination of Related Party Contracts Clause Samples
Termination of Related Party Contracts. Each of the parties hereto that is a party to any of the Contracts (as they may be amended through the Closing) set forth on Schedule 2.2(c) hereby acknowledges and agrees, on behalf of itself and its Affiliates and Related Persons, that such Contracts and all obligations of all parties thereunder are, without further action on the part of any of the parties thereto, hereby terminated effective immediately prior to the Closing, in each case without any liability to any of the Acquired Companies or the Sellers.
Termination of Related Party Contracts. Upon the closing of any purchase and sale pursuant to this Section 15, any agreement of the Company or Property Owner to which ArchCo or an Affiliate of ArchCo is a party shall terminate at either Bluerock's or ArchCo's election without the payment of any termination fee and/or penalty, if any, thereunder.
Termination of Related Party Contracts. At or prior to the Closing, the Company and the Subsidiaries shall terminate all Contracts with Related Parties listed in Section 5.4 of the Disclosure Schedule, without any payment by or liability to the Company.
Termination of Related Party Contracts. Upon the closing of any purchase and sale pursuant to this Section 16, the Development Agreement and any other agreement of the Company or Purchaser to which Bluerock or an Affiliate of Bluerock is a party shall terminate at either ArchCo’s or Bluerock’s election without the payment of any development fee, termination fee and/or penalty, if any, thereunder.
Termination of Related Party Contracts. At or prior to the Closing, but subject to the occurrence of the Effective Time, the Company shall take such actions as may be necessary to terminate the Related Party Contracts, other than those Related Party Contracts set forth on Section 6.14 of the Company Disclosure Schedule, with no further obligations of the Company or its Affiliates from and after the Closing in form and substance reasonably acceptable to Parent and deliver evidence thereof to Parent.
Termination of Related Party Contracts. Buyer and the Selling Parties hereby acknowledge and agree that, as of the Closing, all Contracts and other arrangements, whether written or oral, to which any Company is a party or pursuant to which any of the Companies’ assets are bound under which any Affiliates of the Selling Parties (other than such Companies) provide or receive any direct benefits or payments shall be terminated and of no further force or effect. The Selling Parties shall take any and all actions reasonably necessary or appropriate to effectuate the terminations of the Contracts and other arrangements described in the preceding sentence, including without limitation the Contracts listed on Schedule 9.2(a)(i)(I) attached hereto.
Termination of Related Party Contracts. The termination of each of the Terminated at Closing Related Party Transactions pursuant to one or more Termination Agreements (collectively the “Related Party Termination Agreements”) acceptable to FAAC.
Termination of Related Party Contracts. Except as contemplated by the Parent Ancillary Agreements or the Buyer Ancillary Agreements, on or prior to the Closing Date, all Related Party Contracts other than the Related Party Contracts set forth in Schedule 7.5 shall be terminated and shall be of no further force and effect after the Closing.
Termination of Related Party Contracts. Prior to the Closing, other than as set forth on Schedule 7.1 hereto, the Sponsor and the SPAC shall each terminate all SPAC Related Party Contracts with no further liability to the SPAC and make any payments due thereunder such that there is no further liability to the SPAC (including by using cash in the operating account of either the Sponsor or the SPAC). Following the settlement and termination of the liabilities contemplated by this Section 7.1, to the knowledge of the SPAC and Sponsor, the SPAC shall have no further liabilities except as set forth on Exhibit B and C.
Termination of Related Party Contracts. Prior to the Closing, other than as set forth on Section 1 of the SPAC Disclosure Schedules, the Sponsor and the SPAC shall each terminate all SPAC Related Party Contracts with no further liability to the SPAC and make any payments due thereunder such that there is no further liability to the SPAC (including by using cash in the operating account of either the Sponsor or the SPAC). Following the settlement and termination of the liabilities contemplated by this Section 7.1, to the knowledge of the SPAC, the SPAC shall have no further liabilities except as set forth on Section 7.1 of the SPAC Disclosure Schedules.