Common use of Termination of Affiliate Contracts Clause in Contracts

Termination of Affiliate Contracts. Purchaser shall, and shall cause its Affiliates (other than the Company), on the one hand, and the Company, on the other hand, to terminate the Affiliate Contracts with effect as of the Closing (the “Termination of Affiliate Contracts”). The Termination of Affiliate Contracts shall be without Liability or Loss to the Company, including as to Liabilities or Losses remaining under any Affiliate Contracts. Seller shall provide a full written release and exculpation to, and for the benefit of, the Company and Purchaser from any Liability, Loss, restriction or performance in connection with, arising out of, or relating to, the Termination of Affiliate Contracts.

Appears in 2 contracts

Samples: Purchase Agreement (MGM Mirage), Purchase Agreement (Herbst Gaming Inc)

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Termination of Affiliate Contracts. Purchaser Seller shall, and shall cause its Affiliates (other than the Company), on the one hand, and the Company, on the other hand, to terminate the Affiliate Contracts with effect as of the Closing (the “Termination of Affiliate Contracts”). The Termination of Affiliate Contracts shall be without Liability or Loss to the Company, including as to Liabilities or Losses remaining under any Affiliate Contracts. Seller shall provide a full written release and exculpation toFor the avoidance of doubt, and for the benefit of, the Company and any Liability or Loss incurred by Purchaser from any Liability, Loss, restriction or performance in connection with, arising out of, or relating to, with any Affiliate Contract shall not be subject to the Termination provisions of Affiliate ContractsSection 8.2(c).

Appears in 2 contracts

Samples: Purchase Agreement (MGM Mirage), Purchase Agreement (MGM Mirage)

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Termination of Affiliate Contracts. Purchaser Seller shall, and shall cause its Affiliates (other than the Company), on the one hand, and the CompanyCompany and its Affiliates, on the other hand, to terminate the Affiliate Contracts with effect effective as of the Closing Effective Time (the “Termination of Affiliate Contracts”); provided that, for the avoidance of doubt, with respect to any Affiliate Contracts that are enterprise-level Contracts maintained by Seller or its Affiliates (other than the Company), Seller shall terminate only the Company’s rights and obligations with respect to such Contracts. The Termination of Affiliate Contracts shall be without Liability liability or Loss loss to the Company, including as to Liabilities or Losses remaining under any Affiliate Contracts. Seller shall provide a full written release and exculpation to, and for the benefit of, the Company and Purchaser from any Liability, Loss, restriction or performance in connection with, arising out of, or relating to, the Termination of Affiliate Contracts.

Appears in 1 contract

Samples: Equity Purchase Agreement (Isle of Capri Casinos Inc)

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