Common use of Termination of Management Services Agreement Clause in Contracts

Termination of Management Services Agreement. (a) TPN and RPN agree that, effective as of the Closing Date and expressly conditioned upon occurrence of the Closing, the RPN Management Services Agreement shall terminate. (b) TPN and FWR agree that, effective as of the Closing Date and expressly conditioned upon occurrence of the Closing, the FWR Management Services Agreement shall terminate. (c) TPN agrees to assign, convey or transfer all receivables, notes, and indebtedness outstanding on the Closing Date and arising from the Management Services Agreements, to the Purchaser or its permitted assignee at the Closing.