This Agreement shall terminate automatically if the Effective Date does not occur prior to December 31, 2016.  This Agreement shall terminate on the date that neither JLL nor its Affiliated Entities, on the one hand, and neither DSM nor its Affiliated Entities, on the other hand, owns any Registrable Securities; provided , however , that to the extent that any Demand Registration or Piggyback Registration has commenced as of such time, this Agreement shall remain in effect until the termination or expiration of the Demand Registration or Piggyback Registration, as the case may be, and the Shareholders’ obligations pursuant to Section 5.04 hereof shall continue until ninety (90) days following the effectiveness of the registration statement related thereto.  From and after the date of the termination of this Agreement in accordance with the foregoing, each Shareholder shall no longer be bound by any obligations, or be entitled to any benefits, under this Agreement (other than those of its rights that have accrued prior to such date or that arise thereafter under Section 5.07 or this Article VII ).