TRA Acceleration. The Parties agree that the consummation of the Transactions will give rise to a “Change of Control” as defined in the TRA (such Change of Control, the “MA Change of Control”). Furthermore, the Parties agree that, notwithstanding anything to the contrary contained in the TRA and without any further action on the part of any person (including, without limitation, the Parties), the TRA shall be terminated in its entirety upon the Effective Time, and thereafter neither the Company nor any person entitled to payment under the TRA (each such person, a “TRA Holder”) shall have any further obligations under the TRA other than those obligations set forth in this Agreement.
Appears in 2 contracts
Sources: Tax Receivable Agreement Amendment (Aris Water Solutions, Inc.), Tax Receivable Agreement Amendment (Western Midstream Partners, LP)
TRA Acceleration. The Parties agree that the consummation of the Transactions transactions contemplated by the Merger Agreement will give rise to a “Change of Control” as defined in the TRA (such Change of Control, the “MA Change of Control”). Furthermore, the Parties agree that, notwithstanding anything to the contrary contained in the TRA and without any further action on the part of any person (including, without limitation, the Parties), the TRA shall be terminated in its entirety upon payment of the Effective TimeTermination Payments, and thereafter neither the Company nor any person entitled to payment under the TRA (each such person, a “TRA Holder”) no Party shall have any further obligations under the TRA other than those obligations set forth in this Agreement.
Appears in 2 contracts
Sources: Merger Agreement (Pioneer Natural Resources Co), Tax Receivable Agreement (Parsley Energy, Inc.)
TRA Acceleration. The Parties agree that the consummation of the Transactions transactions contemplated by the Merger Agreement will give rise to a “Change of Control” in Control as defined in the TRA (such Change of in Control, the “MA Change of in Control”). Furthermore, the Parties agree that, notwithstanding anything to the contrary contained in the TRA and without any further action on the part of any person (including, without limitation, the Parties), that the TRA shall be terminated in its entirety upon payment of the Effective TimeTermination Payments (defined below), and thereafter neither the Company nor any person entitled to payment under the TRA (each such person, a “TRA Holder”) no party shall have any further obligations under the TRA other than those obligations set forth in this Agreement.
Appears in 1 contract