NO CONTINUING INTEREST. Following Closing, neither SELLER nor any officer, director or shareholder of SELLER will have any direct, indirect or beneficial ownership or other financial interest in any real or personal property which is in any way involved with or related to the operation of the Assets being purchased by BUYER.
NO CONTINUING INTEREST. The parties agree that, following the Effective Time, no holder of a Company Stock Option or any participant in any Company Stock Plan or other Company Employee Plan or employee benefit arrangement of the Company or under any Employment Agreement shall have any right thereunder to acquire any equity interest (including any “phantom” stock or stock appreciation rights) in the Company, any Subsidiary of the Company or the Surviving Corporation.
NO CONTINUING INTEREST. The parties agree that, following the Effective Time, no holder of a Company Stock Option or Company Warrant or any participant in any stock plan or other equity-related or equity-based plan of the Company or a Subsidiary, including, without limitation, any plan or arrangement which provides for Company Stock Options, restricted stock, restricted stock units, phantom stock, stock appreciation rights or stock purchase rights (each, a “Company Stock Plan”) or other Company Employee Plan or employee benefit arrangement of the Company or under any Employment Agreement shall have any right thereunder to acquire any equity interest (including any “phantom” stock or stock appreciation rights) in the Company, any Subsidiary of the Company or the Surviving Corporation.
NO CONTINUING INTEREST. There are no agreements, commitments, understandings, arrangements, facts or circumstances which create or would give rise to the creation of any direct, contingent or other economic or beneficial interest being held after the Closing by KOC, the KOC Employee Affiliates, Project Partnerships or their respective lower tier Affiliates which relates directly or indirectly to any of KREG's assets including, without limitation, the development project at Bolsa Chica (collectively, the "Continuing Interests" it being understood that interests in the Investments and interests in the Project Partnerships are not Continuing Interests) and to the extent any such Continuing Interests exist, KDC, KOC, KOC Employee Affiliates, Project Partnerships and their respective lower tier Affiliates disclaim any legal or beneficial interest in such Continuing Interests and agree that if they receive any proceeds with respect thereto, to promptly remit such proceeds to KREG.
NO CONTINUING INTEREST. Seller hereby agrees that after the date hereof, it will not have any right or claim with respect to the Trust by virtue of its having owned the Interests represented by the Certificates and Seller hereby waives any such right or claim. Nothing contained in this Section shall be deemed to abridge the rights provided to Seller by this Agreement, the Notes or the Security Agreement.
NO CONTINUING INTEREST. Seller hereby agrees that after the Closing, it will not have any right or claim with respect to the Company by virtue of its having owned shares therein and Seller hereby waives any such right or claim. Nothing contained in this Section shall be deemed to abridge the rights provided to Seller by this Agreement.
