Common use of Cancellation of Debt Clause in Contracts

Cancellation of Debt. Effective as of immediately following the consummation of the transactions set forth in Section 1(b), the [name of agreement] is hereby cancelled and terminated.

Cancellation of Debt. Effective as of immediately following the consummation of the transactions set forth in Section 1(b), the [name of agreement] is Loan Agreements are hereby cancelled and terminated.

Cancellation of Debt. Effective as of immediately following the consummation of the transactions set forth in Section 1(b), the [name of agreement] is Loans are hereby cancelled and terminated.