Common use of Creditor Release Clause in Contracts

Creditor Release. Effective upon the issuance of the Settlement Shares, Creditor, for itself and for any and all of its past or present shareholders, members, predecessors, successors, parents and subsidiaries, partners, officers, directors, managers, employees, agents, servants, attorneys, assigns, transferees, beneficiaries, subrogees, insurers, underwriters, and any others claiming by, through, under, or in concert with it, and each of them (collectively, the “Creditor Releasors”), does hereby release and forever discharge each of CBC, its express third-party beneficiaries PlayBev, PBE, Playboy Enterprises International, Inc. (“Playboy”), and to the extent they are acting by, through, under, or in concert with CBC, PlayBev, PBE, or Playboy or on their behalf, any and all of each of CBC’s, PlayBev’s, PBE’s, or Playboy’s past or present shareholders, members, predecessors, successors, parents and subsidiaries, partners, officers, directors, managers, employees, agents, servants, attorneys, assigns, transferees, beneficiaries, subrogees, insurers, underwriters, and any others claiming by, through, under, or in concert with it, and each of them (collectively, the “Releasees”), of and from any and all claims, obligations, damages, losses, injuries, debts, rights, rights to payment, rights to equitable remedies, rights to legal or equitable relief, demands, allegations, counterclaims, cross-claims, contracts, covenants, agreements, promises, trespasses, torts, tortious conduct, dues, accounts, bonds, bills, notices, costs, expenses, attorneys’ fees, judgments, executions, liens, encumbrances, contribution rights, indemnity rights, actions, causes of action, choses in action, suits, controversies, disputes, vicarious liability, challenges, and liabilities of any kind or nature whatsoever in law, equity, or otherwise, whether known or unknown, suspected or unsuspected, asserted or unasserted, fixed or contingent, matured or unmatured, accrued or inchoate, which have existed or may have existed or that may yet exist or do exist, that any of the Creditor Releasors at any time had, owned, or held from the beginning of the world through the Effective Date against any of the Releasees arising under or relating to any matter or thing done, omitted, or suffered to be done by the Releasees arising from, out of, or in any way connected with all agreements, business, transactions, prior negotiations, courses of dealing, representations, omissions, expectations, agreements, arrangements, or transactions, including: (a) the Creditor Advance or the Advance Documents; (b) the Products; (c) the business of CBC and PlayBev as a manufacturer and distributor of the Products; (d) any alleged interference with Creditor’s economic relations or any related tort and contract theories; (e) any act, omission, event, or condition that might arguably create or constitute a breach or default under the Advance Documents; (f) any alleged violations of the automatic stay in PlayBev’s bankruptcy case, any provision of the United States Bankruptcy Code or any applicable non-bankruptcy law, and any other matter whatsoever.