Termination of Existing Equipment Lease and the Existing Guaranties. On the Closing Date the Existing Lease, together with all amendments and modifications thereto, shall terminate. Each of Lessor and Lessee for itself, its Affiliates and its and their successors and assigns agrees that the termination of the Existing Lease shall be treated as a termination by agreement without fault or breach on the part of either Lessor or Lessee and the terms of Section 3.2 of the Existing Equipment Lease shall apply to such termination provisions; provided that Section 3.2(c) shall be inapplicable and excluded in all respects for the purposes of such termination. On the Closing Date the Existing Guaranties, together with all amendments and modifications thereto, shall terminate with respect to the guaranteed obligations arising out of or under the Agreement to Lease, the Existing Lease, the Chemical Additive Supply Agreement, the Operating and Maintenance Agreement and the Technology Sublicense.
Appears in 6 contracts
Samples: Exchange Agreement (Advanced Emissions Solutions, Inc.), Exchange Agreement (Advanced Emissions Solutions, Inc.), Exchange Agreement (Advanced Emissions Solutions, Inc.)
