Agreements Terminated. Effective as of the Closing Date following the satisfaction of all conditions to close contained in this Agreement, including pursuant to Sections 2, 4, 5 and 6 of this Agreement, the Loan Agreement, the Promissory Note, the Secured Promissory Note, the Chinapac Charge/Debenture, the PPVSL Guarantee, the Pledge Letter, the Warrant, the PPVSL Charge/Debenture, the Consulting Agreements, and the November 12, 2006 Agreement (together, the "Parties' Agreements") shall be deemed terminated and without any legal meaning or effect whatsoever as between the parties to this Release and Settlement Agreement.
Agreements Terminated. Effective upon the payment reflected in paragraph 1, except as expressly set forth below, the following are hereby terminated and shall be of no further force and effect: (a) the SPA; (b) the Warrant; (c) the Investors Rights Agreement by and among Bxxxxx, Lxxxxx Lxxxxxxxx, E. Xxxxx and F. Xxxxx dated as of June 30, 2006; (d) the Registration Rights Agreement dated as of June 30, 2006 by and between Bxxxxx and Lxxxxx Lxxxxxxxx; and (e) all other agreements and letters between or among the Parties executed in connection with the SPA, including without limitation those listed in Section 6.1(g) to the SPA. Notwithstanding the foregoing, and any other provision of this Release, (i) Lxxxxx Leichtman’s confidentiality and other obligations as set forth in Section 13.14 of the SPA are incorporated by reference into this Release and Lxxxxx Lxxxxxxxx shall be obligated to adhere to such obligations pursuant to this Release, and (ii) the Companies’ obligations as set forth in Section 8 of the SPA are incorporated into this Release by reference and the Companies shall be obligated to adhere to such obligations pursuant to this Release. Except as set forth in the preceding sentence, all of the provisions, obligations, rights, covenants and liabilities created by the agreements and letters terminated pursuant to this paragraph 3 are intended to be and hereby are terminated regardless of whether or not such provisions, obligations, rights, covenants or liabilities expressly purport to survive any termination of the agreement or letter which creates them or not.
Agreements Terminated. The Option Agreement, the Investors' Agreements and the Management Agreements shall have been terminated and all sums due and owing under the Investors' Agreements and the Management Agreements shall have been paid in full.
Agreements Terminated. Each party acknowledges that upon the execution and delivery of this Agreement the Security Agreement, Subordination Agreement and Guaranty shall each terminate and be of no force and effect effective immediately.
Agreements Terminated. 7.1 The GENXON/Catalytica Combustion Systems License Agreement, effective as of the October 21, 1996, by and between the Company and CCSI, is hereby, as of the date of this Agreement, superseded and terminated and shall be null, void and of no further force and effect.
