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.
Appears in 2 contracts
Sources: Purchase Agreement (Corner Growth Acquisition Corp. 2), Purchase Agreement (Corner Growth Acquisition Corp.)
Termination of Related Party Contracts. Prior At or prior to the Closing, other than as set forth on Section 1 6.1 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 7.16.1, to the knowledge of the SPAC, the SPAC shall have no further liabilities for SPAC Related Party Contracts except as set forth on Section 7.1 6.1 of the SPAC Disclosure Schedules.
Appears in 1 contract
Sources: Securities Purchase Agreement (Armada Acquisition Corp. II)