Termination of Related Party Contracts. Upon the closing of any purchase and sale pursuant to this Section 15, any agreement of the Company or Property Owner to which ArchCo or an Affiliate of ArchCo is a party shall terminate at either Bluerock’s or ArchCo’s election without the payment of any termination fee and/or penalty, if any, thereunder.
Termination of Related Party Contracts. Each of the Contracts (as they may be amended through the Closing Date), if any, set forth on the Terminated Contract Schedule will be, and hereby are, terminated effective immediately upon Closing and all obligations of the parties thereunder will terminate, and hereby are terminated, without further action on the part of any of Seller, the Company, the Subsidiaries or other parties thereto and be of no further force and effect and without any liability to any of the Company or its Subsidiaries.
Termination of Related Party Contracts. At or prior to the Closing, the Company and the Subsidiaries shall terminate all Contracts with Related Parties listed in Section 5.4 of the Disclosure Schedule, without any payment by or liability to the Company.
Termination of Related Party Contracts. Upon the closing of any purchase and sale pursuant to this Section 16, the Development Agreement and any other agreement of the Company or Purchaser to which Bluerock or an Affiliate of Bluerock is a party shall terminate at either ArchCo’s or Bluerock’s election without the payment of any development fee, termination fee and/or penalty, if any, thereunder.
Termination of Related Party Contracts. Buyer and the Selling Parties hereby acknowledge and agree that, as of the Closing, all Contracts and other arrangements, whether written or oral, to which any Company is a party or pursuant to which any of the Companies’ assets are bound under which any Affiliates of the Selling Parties (other than such Companies) provide or receive any direct benefits or payments shall be terminated and of no further force or effect. The Selling Parties shall take any and all actions reasonably necessary or appropriate to effectuate the terminations of the Contracts and other arrangements described in the preceding sentence, including without limitation the Contracts listed on Schedule 9.2(a)(i)(I) attached hereto.
Termination of Related Party Contracts. The termination of each of the Terminated at Closing Related Party Transactions pursuant to one or more Termination Agreements (collectively the “Related Party Termination Agreements”) acceptable to FAAC.
Termination of Related Party Contracts. At or prior to the Closing, but subject to the occurrence of the Effective Time, the Company shall take such actions as may be necessary to terminate the Related Party Contracts, other than those Related Party Contracts set forth on Section 6.14 of the Company Disclosure Schedule, with no further obligations of the Company or its Affiliates from and after the Closing in form and substance reasonably acceptable to Parent and deliver evidence thereof to Parent.
Termination of Related Party Contracts. Except as contemplated by the Parent Ancillary Agreements or the Buyer Ancillary Agreements, on or prior to the Closing Date, all Related Party Contracts other than the Related Party Contracts set forth in Schedule 7.5 shall be terminated and shall be of no further force and effect after the Closing.
Termination of Related Party Contracts. Except with respect to the Excluded Arrangements, prior to the Effective Time, the Company shall, and shall cause its Subsidiaries to, take all actions within its control to terminate all Contracts between or among the Company or any of its Subsidiaries, on the one hand, and any Related Party, on the other hand, including the Contracts listed on Section 6.07(a) of the Company Disclosure Schedule but excluding the Contracts listed on Section 6.07(b) of the Company Disclosure Schedule, in each case, without any continuing liability of the Company or any of its Subsidiaries thereunder; provided, that, prior to terminating any Contract not listed on Section 6.07(a) of the Company Disclosure Schedule, the Company will notify Parent and Parent may elect for such Contract to remain in effect. Article 7 Covenants of Parent Parent agrees that:
Termination of Related Party Contracts. Except for those Contracts set forth on Section 5.15 of the Company Disclosure Letter, the Company shall cause all Contracts between the Company or any of its Subsidiaries, on the one hand, and any Company Related Party, on the other hand, to be settled in full and terminated at or prior to the Closing with no further Liability or obligation of the Company, the Surviving Corporation or any of their respective Subsidiaries at or following the Closing. The form and substance of such resolutions, termination agreements or similar agreements shall be subject to the reasonable prior review of Parent.
