Termination of Existing Agreements. Any previous employment agreement between Executive on the one hand and Employer or any of Employer’s Affiliates (as hereinafter defined) on the other hand is hereby terminated.
Termination of Existing Agreements. This Agreement supersedes and preempts any prior understandings, agreements or representations, written or oral, by or between Employee and Employer, which may have related to the employment of Employee, Employee's Agreement Not to Compete with Employer, or the payment of salary or other compensation by Employer to Employee, and upon this Agreement becoming effective, all such understandings, agreements and representations shall terminate and shall be of no further force or effect.
Termination of Existing Agreements. Management Stockholder and Coinmach Laundry hereby agree and acknowledge that, effective as of the Closing Date, the Coinmach Stockholders Agreement, the Coinmach Registration Agreement and the CLC Equity Purchase Agreement are hereby terminated in their entirety and shall be of no further force or effect.
Termination of Existing Agreements. On the Closing Date, as of the Effective Time, the following agreements shall be automatically terminated and shall cease to be of any further legal effect (except for provisions that expressly survive such termination by their terms and except that such termination shall not affect the obligation of any party thereto to pay any amounts payable by such party thereunder as of the time of termination) with no further action required to be taken by any party thereto in order to effect such termination: (a) the Company Stockholders Agreement, (b) the Company Rights Agreement, (c) the Company Operating Agreement and (d) the Company Side Letter.
Termination of Existing Agreements. Stockholder and the Corporation hereby agree to terminate the Stock Rights Agreement dated as of August 10, 1999, as amended to date, and the Amended and Restated Stockholders' Agreement, dated as of August 6, 1999, as amended to date. Termination shall be effective upon the Effective Time.
Termination of Existing Agreements. Each of ACI and IBM hereby terminate (a) the Existing Alliance Agreement, (b) the Existing Sales Incentive Agreement and (c) the Confidentiality Agreement, and the Parties agree that each of the Existing Alliance Agreement, the Existing Sales Incentive Agreement and the Confidentiality Agreement cease to be of any further force or effect. In connection with the foregoing, IBM and ACI each hereby irrevocably waive the obligations of the other Party pursuant to (i) in the case of the Existing Alliance Agreement, Section 1.4 thereof, (ii) in the case of the Existing Sales Incentive Agreement, Section 11 thereof, and (iii) in the case of the Confidentiality Agreement, the fifth paragraph of Section 7 thereof, in each case with respect to the procedure for the termination by the Parties of such agreements.
Termination of Existing Agreements. The Existing Agreements are hereby terminated in their entirety.
Termination of Existing Agreements. Each of the Acquisition Agreement and Agreement and Plan of Merger, dated as of October 7, 2005, by and among GFC Enterprise, Inc., GFC Holding Corp. and the Company (the "Sun Merger Agreement"), the Stock Option Agreement, dated as of October 7, 2005, by and among GFC Enterprise, Inc., GFC Holding Corp. and the Company, and any other agreement between Sun Capital Partners IV, LP, or its affiliates and the Company (other than the Confidentiality Agreement dated June 20, 2005) has been duly terminated with no further liability of the Company thereunder other than the obligation to pay the Company Break Up Fee and Expenses (as such terms are defined under the Sun Agreement) pursuant to the Sun Merger Agreement which shall be paid by the Company promptly after the date hereof.
Termination of Existing Agreements. Effective upon the Initial Closing, (i) any prior stockholder agreements, voting agreements, co-sale agreements, or agreements relating to rights of first offer, rights of first refusal or preemptive rights shall have been terminated and shall be of no further force and effect, and (ii) any prior registration rights agreements shall have been terminated and shall be of no further force and effect.
Termination of Existing Agreements. This Agreement, effective on the Closing Date and upon consumption of the Transactions supersedes and preempts any prior understandings, agreements or representations, written or oral, by or between Employee and Employer, which may have related to the employment of Employee, Employee's Agreement Not to Compete with Employer, or the payment of salary or other compensation by Employer to Employee, and upon this Agreement becoming effective, all such understandings, agreements and representations shall terminate and shall be of no further force or effect.
