Termination of Engagement Agreement. The Engagement Agreement is hereby terminated and shall be of no further force and effect. The compensation being paid by the Company to Hermitage pursuant to this Agreement, together with the one hundred fifty thousand dollars ($150,000.00) that the Company has already paid to Hermitage, is in lieu of any compensation owing to Hermitage under the Engagement Agreement or otherwise.
Termination of Engagement Agreement. Mayday and the Company do hereby voluntarily and mutually elect to cancel and terminate, effective January 1, 1997, Mayday's engagement pursuant to that certain Engagement Agreement, dated February 1,. 1996 (the "Engagement Agreement"). From and after the date hereof, Mayday is discharged and released from all of its duties and obligations under the Engagement Agreement.
Termination of Engagement Agreement. The Engagement Agreement is terminated and replaced by this Agreement. No sections of the Engagement Agreement shall survive the termination of the Engagement Agreement and no sections of the Engagement Agreement shall be of any further force or effect.
Termination of Engagement Agreement. Alacrity's obligations to ----------------------------------- pay incremental or additional fee amounts in respect of work performed by Deloitte & Touche LLP, Alacrity's outside accountants, as reflected in that certain letter agreement dated August 4, 1999 shall have been terminated and extinguished in all respects and TranSwitch shall have received evidence of such termination and extinguishment in a form reasonably satisfactory to it.
Termination of Engagement Agreement. Subject to the terms of this Termination Agreement, the parties agree that the Engagement Agreement shall terminate effective as of the date first written above (the "Termination Date"). Except as expressly set forth herein, each of the provisions of the Engagement Agreement (including without limitation, Sections 2.3 and 2.8) shall terminate and be of no further force and effect following the Termination Date.
Termination of Engagement Agreement. Upon consummation of the Merger and payment of the Debt described in paragraph 2 to entrenet or its assigns, the Engagement Agreement shall be deemed terminated and void effective as of the Merger date. Thereafter, no party shall have any further obligation or liability, whether accrued or potentially to accrue under the Engagement Agreement, including but not limited to any further obligation by Company to entrenet or its affiliates for (i) the payment of any monies to entrenet under the Engagement Agreement or (ii) the issuance of any Company equity.
Termination of Engagement Agreement. Executive hereby agrees that the Engagement Agreement shall be terminated on the date hereof.
Termination of Engagement Agreement. Upon execution of this Settlement Agreement by all parties, the Engagement Agreement shall be deemed terminated and void as of the effective date of this Settlement Agreement. Thereafter, no party shall have any further obligation or liability, whether accrued or potentially to accrue under the Engagement Agreement, including but not limited to any further obligation by Company to entrenet or its affiliates for (i) the payment of any monies to entrenet under the Engagement Agreement or (ii) the issuance of any Company equity.
Termination of Engagement Agreement. The Parties hereby acknowledge and agree that the Engagement Agreement shall be terminated and of no further force or effect, as of the date of this Settlement Agreement, and neither Party shall have any further rights or obligations thereunder; provided, however, that (a) ACLP shall have the right, with respect to any financing raised by WISA, from the date of this Settlement Agreement, through and until the date that is twelve (12) months thereafter, (i) to be paid the Fees and Compensation as set forth in Section 3(a) and Section 3(b) of the Engagement Agreement and (ii) to be reimbursed for Expenses as set forth in Section 3(c) of the Engagement Agreement, that (b) notwithstanding the releases contained in Paragraph 2 and Paragraph 6 above both WISA and ACLP shall retain their respective rights to indemnification as set forth in Exhibit B of the Engagement Agreement, with respect solely to third-party claims and not direct claims – the Parties further agreeing that any breach of this Settlement Agreement is subject to Indemnification under Exhibit B of the Engagement Agreement, and that (c) the Preferential Right contained in Section 6 of the Engagement Agreement shall not terminate until WISA fulfills its obligations under Paragraph 1, above, as described in Paragraph 2, above. Additionally, Paragraphs 10 and 12 of the Engagement Agreement shall also survive the termination of the Engagement Agreement for such period as provided therein.
Termination of Engagement Agreement. For the avoidance of doubt, the Engagement Agreement, including any and all terms of the Engagement Agreement that by their terms survive termination of such agreement, is terminated effective upon the Plaintiff’s receipt of (i) the Initial Payment; and (ii) the Parties’ receipt of a fully executed copy of this Agreement.
