Common use of TERM OF AGREEMENT AND SURVIVAL OF OBLIGATIONS Clause in Contracts

TERM OF AGREEMENT AND SURVIVAL OF OBLIGATIONS. In the event that SRLHA or one of its Affiliates and HL or one of its Affiliates enter into a business relationship at the conclusion of the [ILLEGIBLE] Agreement will not be superseded by the provisions of the agreements that may be entered into by the parties except as expressly stated in such agreements. If either [ILLEGIBLE] that it does not desire to proceed with further discussion of the business relationship, such party [ILLEGIBLE] advise the other party of that decision. Both parties further acknowledge and agree that each party [ILLEGIBLE] absolute discretion, to reject any of proposals and to terminate discussions and [ILLEGIBLE]. In either case, or in the event that a business relationship is not consummated by SRLHA, [ILLEGIBLE] for any reason: (i) this Agreement shall remain in effect; and (ii) except to the [ILLEGIBLE] by law or regulation to retain a copy, each party agrees to return or destroy all Confidential Information furnished by the other, and to destroy all copies, notes, summaries, tapes, records, [ILLEGIBLE] thereof, or other documentation created by the parties in reviewing or analyzing the [ILLEGIBLE]; provided that Confidential Information held in back-up computer, word processing or [ILLEGIBLE] systems [ILLEGIBLE] be destroyed only to the extent commercially feasible to do so. In the event that [ILLEGIBLE] Confidential Information has instructed the receiving party to destroy the Confidential Information, the receiving party shall certify to [ILLEGIBLE] that such Confidential Information has been destroyed. Should [ILLEGIBLE] be required by law or regulation [ILLEGIBLE] retain a copy of the Confidential Information, such party shall do so only [ILLEGIBLE] time as may be [ILLEGIBLE] in the meantime, shall continue to [ILLEGIBLE] by the terms of this Agreement. Notwithstanding the foregoing, this Agreement and the obligations hereunder shall terminate (a) two (2) years after the termination of any business relationship between the parties [ILLEGIBLE] (b) five (5) years after the date of this Agreement; whichever date is later.

TERM OF AGREEMENT AND SURVIVAL OF OBLIGATIONS. In the event that SRLHA or one of its Affiliates and HL or one of its Affiliates enter into a business relationship at the conclusion of the [ILLEGIBLE] this Agreement will not be superseded by the provisions of the agreements that may be entered into [ILLEGIBLE] by the parties except as expressly stated in such agreements. If either party that [ILLEGIBLE] that it does not desire to proceed with further discussion of the business relationship, such party [ILLEGIBLE] promptly shall advise the other party of that decision. Both parties further acknowledge and agree that each party reserves [ILLEGIBLE] right, in its sole and absolute discretion, to reject any of or [ILLEGIBLE] proposals and to terminate discussions and [ILLEGIBLE]negotiations at any time. In either case, or in the event that a business [ILLEGIBLE] relationship is not consummated by SRLHA, [ILLEGIBLE] of its Affiliation and HL for any reason: (iI) this Agreement shall remain in effect; and (iiII) except to the extent [ILLEGIBLE] is required by law or regulation to retain a copy, each party agrees to return or destroy all Confidential Information furnished by the other, and to destroy all copies, notes, summaries, tapes, records, [ILLEGIBLE] or extracts thereof, or other documentation documents on created by the parties in reviewing or analyzing the [ILLEGIBLE]Confidential Information; provided that Confidential Information held in back-up computer, word processing or such [ILLEGIBLE] systems [ILLEGIBLE] shall be destroyed only to the extent commercially feasible to do so. In the event that [ILLEGIBLE] the owner of the Confidential Information has instructed the receiving party to destroy the Confidential Information, the receiving party shall certify to [ILLEGIBLE] the that such Confidential Information has been destroyed. Should any [ILLEGIBLE] be required by law or regulation [ILLEGIBLE] in retain a copy of the Confidential Information, such party shall do so only for [ILLEGIBLE] time as may be [ILLEGIBLE] required and, in the meantime, shall continue to [ILLEGIBLE] abide by the terms of this Agreement. Notwithstanding the foregoing, this Agreement and the obligations hereunder shall terminate (a) two (2) years after the termination of any business relationship between the parties [ILLEGIBLE] related to the Business, or (b) five (5) years after [ILLEGIBLE] the date of this Agreement; years [ILLEGIBLE] whichever date is later.