California Code. The Parties understand and agree that all rights under Section 1542 of the California Civil Code and any other similar statute are hereby expressly waived. Section 1542 of the California Civil Code reads as follows: “A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor.” This waiver of Section 1542 is an essential term of this Agreement without which the agreement would not have been reached.
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California Code. In exchanging the general releases set forth above, each of the parties hereto waives and relinquishes all rights and benefits afforded under the provisions of section 1542 of the California Civil Code, which provides as follows: "A general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor."
California Code. The parties hereto agree that all rights under § 1542 of the Civil Code of the State of California are hereby waived by the parties. Section 1542 provides as follows:
California Code. Administrative Agent and each Lender, having consulted with their respective counsel, is aware of the contents of Section 1542 of the Civil Code of the State of California. Section 1542 reads as follows: Section 1542. (General Release - Claims Extinguished.) A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor. Administrative Agent and each Lender expressly waives and relinquishes all rights and benefits under that section and any law or legal principle of similar effect in any jurisdiction, with respect to the Released Claims Against TRI Pointe Homes. Administrative Agent and each Lender has executed this Agreement voluntarily, with full knowledge of the significance of this Section 2.27, and with the express intention of effecting the legal consequences provided by a waiver of California Civil Code Section 1542, i.e., the extinguishment of all obligations whatsoever of TRI Pointe Homes to any other party, person or entity, known or unknown.
California Code. This Release shall be effective as a bar to each and every Claim stated in Section 1 above. Accordingly, the Executive expressly waives any and all rights and benefits conferred by the provisions of SECTION 1542 OF THE CALIFORNIA CIVIL CODE, which states: A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR. The Executive acknowledges that the Executive may hereafter discover claims or facts in addition to or different from those which the Executive now knows or believes to exist with respect to the subject matter of this Release and which, if known or suspected at the time of executing this Release, may have materially affected its terms. Nevertheless, the Executive hereby waives any rights, claims or causes of action that might arise as a result of such different or additional claims or facts, excepting only those liabilities (if any) to the Executive which the Company may incur by failing to perform a material obligation under the Current Employment Agreement.
