Termination of Arrangements. All contingent obligations of VSCO shall be terminated, including without limitation, any lease and line of credit arrangement. Each creditor of VSCO, other than the creditors set forth in Schedule 4.9 (and only up to the amounts set forth therein) shall cancel or waive all debts of VSCO. All subsidiaries of VSCO shall have been assigned or otherwise liquidated.
Termination of Arrangements. 23.4.1 The Buyer and the Seller shall procure that, save as provided in this Sale and Purchase Agreement or any of the Transaction Documents, all contracts, agreements, courses of dealing, business practices and arrangements in place between any member of the Seller Group and any Target Company prior to Completion, other than the Surviving Contracts, shall terminate with effect from Completion without cost or Liability to any Target Company.
23.4.2 The Buyer shall procure that, save in relation to Intra-Group Trade Receivables or rights or Liabilities arising under this Sale and Purchase Agreement or any of the Transaction Documents, following Completion neither the Buyer, any member of the Buyer’s Group, any Target Company nor any NSC Newco shall make any claim against any member of the Seller Group in respect of any matter or event which occurred prior to Completion and the Seller shall procure that, save in relation to Intra-Group Trade Payables or rights or Liabilities arising under this Sale and Purchase Agreement or any of the Transaction Documents, following Completion no member of the Seller Group shall make any claim against any Target Company in respect to any matter or event which occurred prior to Completion.
23.4.3 Nothing in this Clause 23.4 shall prevent any Claim being made by or against any member of the Seller Group or the Buyer’s Group or any Target Company in respect of any matter or event which occurred prior to Completion in the event of fraud.
23.4.4 For the avoidance of doubt, nothing in this Sale and Purchase Agreement shall terminate or modify in any respect any agreements between the Seller and Peugeot Citroen Automobiles SA relating to engine supply or between any Target Company and Getrag Ford Transmissions GmbH relating to the supply of transmissions.
Termination of Arrangements. Seller shall have delivered to Purchaser evidence reasonably satisfactory to Purchaser of (i) the release, termination or satisfaction of all indebtedness described in Section 5.7, (ii) the termination and release of any and all Encumbrances (including, without limitation, all Encumbrances arising under the Credit Facility) relating to (x) the Company, its Subsidiaries or any of their respective assets and properties, other than any Permitted Encumbrances, (y) the Shares or (z) any capital stock of any Subsidiary of the Company, and (iii) the termination and release of any Guaranty, other than the Guaranty described on Exhibit L.
Termination of Arrangements. The Initial Members shall have delivered to Purchaser evidence reasonably satisfactory to Purchaser of (i) the termination or satisfaction of all Debt not reflected in the Payoff Letters described in Section 6.7, including the termination of all underlying credit and related Contracts, (ii) the termination and release of any and all Encumbrances relating to the Company or any of its Assets, other than those Encumbrances referred to and addressed to Purchaser’s satisfaction in the Payoff Letters, (iii) the termination and release of any Guaranty made by the Company, (iv) the termination of the Company’s 401(k) Plan as described in Section 6.11 hereof, (v) the termination of the Company’s Incentive Plan as described in Section 6.13, and conversion of all outstanding units under the Incentive Plan to Additional Interests, (vi) the payment of all employee bonuses, commissions or other incentive compensation as described in Section 6.6, (vii) the termination of the Contracts listed on Exhibit 7.11(a), or the amendment of such Contracts to eliminate any noncompete obligations of the Company thereunder, (viii) the termination of the Contracts listed on Exhibit 7.11(b), and (ix) the delivery by the Company of written notice of Contract termination with respect to the Contracts listed on Exhibit 7.11(c).
Termination of Arrangements. A arrangement may be terminated without a specific period of notice by mutual consent of all parties to the arrangements. At the end of the arrangement the shared position will revert back to the incumbent of the position. The will return to their former position. Where the sharer in the arrangement resigns or transfers or is the successful applicant for a posted position the arrangement will be terminated. The will resume their former position. Where the in the arrangement resigns or transfers, the shared position will revert back to the incumbent who may begin the process again. At the conclusion of the arrangement the will have no bumping rights because of a reduction in hours.
Termination of Arrangements. All contingent obligations of ENDD shall be terminated, including without limitation, any lease and line of credit arrangement. Each creditor of ENDD, other than the creditors set forth in Schedule 4.9 (and only up to the amounts set forth therein) shall cancel or waive all debts of ENDD. All subsidiaries of ENDD shall have been assigned or otherwise liquidated.
Termination of Arrangements. All contingent obligations of SEAA shall be terminated, including without limitation, any lease and line of credit arrangement. Each creditor of SEAA, other than the creditors set forth in Schedule 4.9 (and only up to the amounts set forth therein) shall cancel or waive all debts of SEAA. All subsidiaries of SEAA shall have been assigned or otherwise liquidated.
Termination of Arrangements. All contingent obligations of Norpac shall be terminated, including without limitation, any lease and line of credit arrangement. Each creditor of Norpac, other than the creditors set forth in Schedule 4.9 (and only up to the amounts set forth therein) shall cancel or waive all debts of Norpac. All subsidiaries of Norpac shall have been assigned or otherwise liquidated.
Termination of Arrangements. All contingent obligations of Granscal shall be terminated, including without limitation, any lease and line of credit arrangement, unless otherwise agreed to in writing by ISL at the Closing.
Termination of Arrangements. The Company shall have delivered, or cause to be delivered, to Parent, evidence in form reasonably satisfactory to Parent of the termination of agreements set forth in Section 9.02(e) of the Company Disclosure Schedule.
