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.
Appears in 2 contracts
Samples: Limited Liability Company Agreement, Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.)
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 ArchCo’s or Bluerock's ’s election without the payment of any development fee, termination fee and/or penalty, if any, thereunder.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.), Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.)
