RELEASE OF SURVIVING TRUST. At the Closing, each of (i) Xxxxxxx X. Xxxxxxx, (ii) Xxxxxx Xxxxxxxxx, and (iii) each of the other Key Executives set forth in Exhibit "J" who have agreed to the conversion of their options to purchase Wellsford Common Shares into options to purchase common shares of Newco, shall release the Surviving Trust from any obligations of Wellsford to him under options to purchase Wellsford Common Shares which are exchanged for or converted into options to purchase common shares of Newco.
Appears in 4 contracts
Samples: Merger Agreement (Equity Residential Properties Trust), Merger Agreement (Wellsford Residential Property Trust), Merger Agreement (Equity Residential Properties Trust)
