Termination of Participation Agreement. The parties hereby mutually agree to terminate the Participation Agreement as of the Effective Date and waive the notice requirement for termination as set forth therein.
Termination of Participation Agreement. As of the Closing Date, the Parties agree that notwithstanding the terms of Section 15.1 of the Participation Agreement, the Participation Agreement shall be, and hereby is, terminated, and shall have no further force or effect.
Termination of Participation Agreement. Notwithstanding the preservation of the grant of the NRI to the Xxxxxx Trust, the Participation Agreement is hereby terminated and neither Party shall have any rights or legal obligations thereunder unless otherwise set forth in this Agreement.
Termination of Participation Agreement. Any Participation Agreement with a Participating Entity may be terminated immediately upon notice by either party thereto if the other party becomes insolvent, ceases operations, is the subject of a bankruptcy petition, enters receivership or any state insolvency proceeding or makes an assignment for the benefit of its creditors.
Termination of Participation Agreement. The Parties hereby acknowledge and agree that the Participation Agreement (other than Section 9.1(c) thereof) shall terminate and be of no further force or effect from and after the Termination Time. As consideration for such termination (a) Seller shall be obligated to pay Buyer at the Effective Time the Transaction Fee Termination Amount and (b) Seller shall irrevocably Transfer legal title to the Transferred Securities (including all rights and obligations pursuant thereto under the Participation Agreement) to ING Bank pursuant to the procedures set out in the Transfer Procedures Agreement prior to the Effective Time. As a result of the payment in accordance with the Valuation Letter, all of Seller's obligations in respect of the Transaction Fee shall be fully discharged, released and terminated at the Effective Time.
Termination of Participation Agreement. LSU reserves the right to terminate this Agreement with Participant at anytime, for any reason, provided LSU gives Participant a thirty (30) day written notification. If this Agreement is terminated, LSU shall be entitled to recover from Participant the stipulated sums up to and including the date of actual surrender of the premises to LSU.
Termination of Participation Agreement. Effective as of the Effective Time, subject to the conditions set forth in Section 3 hereof, Lender, Borrower and Borrower Member hereby agree to terminate the Participation Agreement, such that the Participation Agreement shall have no further force and effect, prospectively, subject to and conditioned upon, the simultaneous delivery to Lender of the Warrant Agreement.
Termination of Participation Agreement. Intentionally omitted.
Termination of Participation Agreement. The Participation Agreement is hereby terminated and neither Party shall have any rights or legal obligations thereunder unless otherwise set forth in this Agreement. .
Termination of Participation Agreement. Without prejudice to any right to terminate this Operator Contract at common law, or pursuant to the terms of the Administration Contract incorporated by reference pursuant to Clause 1.3 above, this Operator Contract shall terminate automatically where the Participation Agreement is cancelled or terminated.
