Common use of Termination of Related Party Agreements Clause in Contracts

Termination of Related Party Agreements. Except as set forth on Section 7.8 of the Sellers’ Disclosure Schedule and as consented to by FID, all existing agreements (and intercompany accounts) between any member of the Target Group, on the one hand, and the Sellers or any of its respective Affiliates, or their respective shareholders, directors, officers or employees (other than the member of the Target Group), on the other hand, shall have been cancelled effective prior to or as of the Closing Date without any further obligation or liability of any member of the Target Group.

Termination of Related Party Agreements. Except as set forth on in Section 7.8 7.10 of the Sellers’ Seller Disclosure Schedule and as consented to by FIDLEC, all existing agreements (and intercompany accounts) between any member of the Target GroupCompany, on the one hand, and the Sellers Seller or any of its respective Affiliates, or their respective shareholdersstockholders, directors, officers or employees (other than the member of the Target GroupCompany), on the other hand, shall have been cancelled effective prior to or as of the Closing Date without any further obligation or liability of any member of the Target GroupCompany.