Common use of Termination of Intercompany Agreements; Settlement of Intercompany Accounts Clause in Contracts

Termination of Intercompany Agreements; Settlement of Intercompany Accounts. (a) Fortrea, on behalf of itself and each other member of the Fortrea Group, on the one hand, and Labcorp, on behalf of itself and each other member of the Labcorp Group, on the other hand, hereby terminate any and all Contracts between or among Fortrea or any member of the Fortrea Group, on the one hand, and Labcorp or any member of the Labcorp Group, on the other hand, effective without further action as of the Business Transfer Time, other than this Agreement, the Transaction Documents, the Contracts set forth on Schedule 1.08 and any other Contract expressly contemplated by this Agreement to be entered into or continued by the Parties or any member of their respective Groups. No such Contract (including any provision thereof which purports to survive termination) will be of any further force or effect after the Business Transfer Time and all parties will be released from all Liabilities thereunder. Each Party will, at the reasonable request of any other Party, take or cause to be taken such other actions as may be necessary to effect the foregoing.

Termination of Intercompany Agreements; Settlement of Intercompany Accounts. (a) FortreaSpinCo, on behalf of itself and each other member of the Fortrea LW Group, on the one hand, and LabcorpConAgra, on behalf of itself and each other member of the Labcorp ConAgra Group, on the other hand, hereby terminate any and all Contracts between or among Fortrea SpinCo or any member of the Fortrea LW Group, on the one hand, and Labcorp ConAgra or any member of the Labcorp ConAgra Group, on the other hand, effective without further action as of the Business Transfer Time, other than this Agreement, the Transaction Documents, the Contracts set forth on Schedule 1.08 Ancillary Agreements and any other Contract expressly contemplated by this Agreement to be entered into or continued by the Parties or any member of their respective Groups. No such Contract (including any provision thereof which purports to survive termination) will be of any further force or effect after the Business Transfer Time and all parties will be released from all Liabilities thereunder. Each Party will, at the reasonable request of any other Party, take take, or cause to be taken taken, such other actions as may be necessary to effect the foregoing.