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such time as any and all terms and conditions of this Agreement are completely <br /> fulfilled. <br /> 8.9. Third Party Beneficiaries. There are no third party beneficiaries of <br /> this Agreement. The Parties hereto state and agree that they do not intend that <br /> any other person or entity shall have any interest in, or rights or duties under, this <br /> Agreement. <br /> 8.10. Counterparts. This Agreement may be executed in counterparts and <br /> all counterparts so executed shall constitute one agreement binding upon the <br /> Parties, notwithstanding that the Parties are not signatories to the original or to <br /> the same counterpart. <br /> 8.11. Controlling Law. This Agreement shall be governed and construed in <br /> accordance with the laws of the State of Colorado. <br /> 8.12. Binding Effect. The terms of this Agreement shall be binding upon the <br /> respective Parties hereto, their successors, and permitted assigns. <br /> 8.13. Effective Date. This Agreement shall not be effective or enforceable <br /> until it is approved and signed by every Party, but shall be effective and enforceable <br /> thereafter in accordance with its provisions. <br /> [REMAINDER OF PACE INTENTIONALLY LEFT BLANK] <br /> • <br /> Page 13 of 14 <br />