Binding Agreement and Termination Sample Clauses

Binding Agreement and Termination. This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors and assigns. The parties acknowledge that ADPI has certain borrowing arrangements that have been publicly disclosed. Under those arrangements, ADPI’s lenders have security interests in substantially all of ADPI’s assets. In addition, after the verdict against PDHC, ADPI and its lenders entered into a Forbearance Agreement which modified the existing lending arrangements between them. In order for PDHC to perform its obligations under this settlement agreement and the contemplated definitive agreement, ADPI must obtain its lenders’ consent to the transactions contemplated by this agreement and negotiate and enter into new or modified agreements with its lenders. Therefore, PDHC’s obligations under this agreement and the definitive agreement are contingent upon ADPI obtaining such consent and entering into new or modified agreements with its lenders containing mutually satisfactory terms. The parties further agree and acknowledge that PDG and PDHC have entered into a Standstill Agreement which, according to its terms, provides for the termination of this Settlement Agreement under certain circumstances. “PDG, P.A.” “American Dental Partners, Inc.” By: /s/ ▇▇▇▇ ▇▇▇▇▇ By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ Its: President Its: Chairman “Dental Specialists of Minnesota, P.A.” “PDHC, Ltd.” By: /s/ ▇▇▇▇ ▇. Law, DDS, PhD By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ Its: President Its: Chairman “▇▇▇▇▇ ▇▇▇▇▇, D.D.S., PLLC” By: /s/ ▇▇▇▇▇ ▇▇▇▇▇ Its: Chief Manager 1. Bloomington 2. Champlin 3. Chaska 4. ▇▇▇▇ Rapids 5. Eden Prairie 6. ▇▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇ ▇▇▇▇▇▇ 8. High Pointe 9. LaSalle Plaza 10. Maplewood 11. Minnetonka 12. Roseville 13. Salem Square 14. Shakopee 15. Edina 16. Columbia Park 17. Ridge Park 18. Brookpark 19. ▇▇▇▇▇▇ 20. High Pointe Specialty 21. Ridges Specialty 22. Ridges Pediatric Specialty 23. Roseville Specialty 24. Roseville Pediatric Specialty 25. Edina Specialty 1. Apple Valley 2. Eagan 3. Maple Grove 4. Prior Lake 5. Ridges 6. ▇▇. ▇▇▇▇▇ ▇▇▇▇