Cancellation of Promissory Note. Subject to satisfaction of the Termination Conditions, ING Bank shall promptly cancel the Promissory Note and deliver the canceled Promissory Note to SLDI. Upon such cancellation, (a) the Promissory Note shall be no longer issued and outstanding and shall be of no further force and effect, (b) ING Bank shall have no rights or obligations under the Promissory Note and SLDI shall have no further liabilities or obligations under the Promissory Note and (c) each of ING Bank and SLDI shall be forever released and discharged in all respects from any and all liabilities and obligations, under or with respect to the Promissory Note.
Appears in 2 contracts
Sources: Termination Agreement, Termination Agreement (ING U.S., Inc.)