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. 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 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. 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. 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. 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. 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. From and after the closing, the selling Partner shall have no further interest in the assets or profits of the Partnership and shall not be responsible for any of the Partnership losses except uninsured third party tort claims arising out of incidents which occurred prior to the closing, to the extent such selling Partner is liable. Notwithstanding the provisions of this Section 10.5, nothing contained herein is intended to place any liability on a Partner that does not otherwise exist at law. In the event that the seller of its Interests pursuant to this Article Ten or an Affiliate of such seller is personally liable under a personal guaranty of an obligation of the Partnership, then as a condition of the seller to sell its Interests at the closing, the purchaser shall take such actions or pay to the holder of the obligation such amounts that would release the seller or its Affiliate from its personal guaranty of such obligation.
No Further Interest. Employee acknowledges that as of the Effective Date, Employee will have no right, title or interest in or to any additional shares of or options covering the Company’s capital stock under the agreements referred to herein or any other document, instrument or arrangement with the Company.
No Further Interest. Seller acknowledges and agrees that upon receipt of the Purchase Price and the other documents to be delivered at Closing, it shall have no further interest in or rights to the business, assets or properties of the Company, and no further right to any return of Seller's capital contribution to the Company.
