Common use of Mutual Releases Clause in Contracts

Mutual Releases. In consideration of the covenants contained in this Agreement, including, without limitation, RVI’s agreements with respect to the Pension Plan pursuant to paragraph 2 of this Agreement, and other good and valuable consideration (receipt and sufficiency of which is hereby acknowledged) on the Effective Date: (i) the Debtors, their estates, the Committee, and any party that may acquire standing to prosecute estate claims on their behalf (the “Debtor Releasors”) shall be deemed to forever release RVI and DSW and their officers, directors, agents, attorneys and employees and the ▇▇▇▇▇▇▇ Releasees (as hereinafter defined) (collectively, the “RVI/DSW Releasees”) from any and all claims and causes of action of any nature whatsoever, including, without limitation, any and all claims pursuant to Chapter 5 of the Bankruptcy Code, that the Debtor Releasors may have against the RVI/DSW Releasees; (ii) the RVI/DSW Releasees shall be deemed to forever release the Debtor Releasors from any and all claims and causes of action that the RVI/DSW Releasees may have against the Debtor Releasors, except with respect to those claims allowed herein; and (iii) to the extent approved by the Bankruptcy Court in the context of a Chapter 11 plan of liquidation or reorganization to be proposed in the Debtors’ Chapter 11 cases, to the extent a creditor votes in favor of any plan of liquidation or reorganization proposed by the Debtors and/or the Committee (the “Plan”), or to the fullest extent permitted by law, such creditor shall be deemed to forever release the RVI/DSW Releasees from any and all claims and causes of action that such creditor may have against the RVI/DSW Releasees related to the prepetition and postpetition conduct of the Debtors’ business and the Debtors’ Chapter 11 cases; provided, however, that the foregoing releases shall not limit the rights of any party to enforce the terms of this Agreement. Approval of the release provided in paragraph 9(iii) of this Agreement shall not serve as a condition precedent to the effectiveness of the RVI/DSW Settlement, provided that the Debtors and the Committee shall cooperate in good faith and use their best efforts to obtain such approval. The releases provided under this paragraph 9 shall apply to all rights arising from or pursuant to Chapter 5 of the Bankruptcy Code; for the avoidance of doubt, claims against RVI and/or DSW, including under Chapter 5 of the Bankruptcy Code, shall not be used to offset RVI Claims and/or DSW Claims. As used in this Agreement, the term “▇▇▇▇▇▇▇ Releasees” refers to FB II Acquisition Corp., its subsidiaries and other affiliates (excluding the Debtors and any of their subsidiaries which may from time to time exist) and their respective stockholders, directors, managers, officers, employees, agents, attorneys and representatives (excluding such persons of the Debtors and any of their subsidiaries which may from time to time exist).

Appears in 3 contracts

Sources: Settlement Agreement (DSW Inc.), Settlement Agreement (Retail Ventures Inc), Settlement Agreement (Retail Ventures Inc)

Mutual Releases. In consideration of the covenants contained in this Agreementa. Ability hereby waives and releases, includingacquits, without limitation, RVI’s agreements with respect to the Pension Plan pursuant to paragraph 2 of this Agreementsatisfies, and other good forever discharges the Alachua County Housing Finance Authority and valuable consideration (receipt the County, including its elected officials and sufficiency of which is hereby acknowledged) on the Effective Date: (i) the Debtors, their estates, the Committeeemployees, and any party that may acquire standing to prosecute estate claims on their behalf (the “Debtor Releasors”) shall be deemed to forever release RVI and DSW all affiliates, legal representatives, insurance carriers, successors, and their officers, directors, agents, attorneys and employees and the ▇▇▇▇▇▇▇ Releasees (as hereinafter defined) assigns thereof (collectively, the “RVI/DSW ReleaseesCounty’s Related Parties) ), from any and all claims and claims, counterclaims, defenses, actions, causes of action action, suits, controversies, agreements, promises, and demands whatsoever which Ability ever had or now has, in law or in equity, for, upon, or by any reason arising from or related to its Dogwood Village Project and the Property. In addition, and without waiving the generality of any nature whatsoeverthe foregoing, includingAbility covenants with and warrants to the Alachua County Housing Finance Authority and the County, without limitationincluding the County’s Related Parties, that no other subsidiary or affiliated company of Ability has, nor will have, any claims that are not included in, covered by, and all claims pursuant settled in-full by this Settlement Agreement. The release set forth in this provision does not apply to Chapter 5 of any rights granted by or arising from this Settlement Agreement. b. The County hereby waives and releases, acquits, satisfies, and forever discharges Ability, including its legal representatives, insurance carriers, successors, heirs, and assigns thereof (collectively, the Bankruptcy Code“Related Parties”), that the Debtor Releasors may have against the RVI/DSW Releasees; (ii) the RVI/DSW Releasees shall be deemed to forever release the Debtor Releasors from any and all claims and claims, counterclaims, defenses, actions, causes of action that action, suits, controversies, agreements, promises, and demands whatsoever which the RVI/DSW Releasees may have against the Debtor ReleasorsCounty ever had or now has, except with respect to those claims allowed herein; and (iii) to the extent approved by the Bankruptcy Court in the context of a Chapter 11 plan of liquidation law or reorganization to be proposed in the Debtors’ Chapter 11 casesequity, to the extent a creditor votes in favor of any plan of liquidation or reorganization proposed by the Debtors and/or the Committee (the “Plan”)for, upon, or to the fullest extent permitted by law, such creditor shall be deemed to forever release the RVI/DSW Releasees any reason arising from any and all claims and causes of action that such creditor may have against the RVI/DSW Releasees or related to Ability’s Dogwood Village Project or the prepetition and postpetition conduct of the Debtors’ business and the Debtors’ Chapter 11 cases; provided, however, that the Property. The release set forth in this provision does not apply to any rights granted by or arising from this Settlement Agreement.’ c. The foregoing releases shall not limit the rights be of any party to enforce the terms of no force and effect should this Agreement. Approval of the release Settlement Agreement terminate and become null and void as provided in paragraph 9(iii) of this Agreement shall not serve as a condition precedent to the effectiveness of the RVI/DSW Settlement, provided that the Debtors and the Committee shall cooperate in good faith and use their best efforts to obtain such approval. The releases provided under this paragraph 9 shall apply to all rights arising from or pursuant to Chapter Paragraph 5 of the Bankruptcy Code; for the avoidance of doubt, claims against RVI and/or DSW, including under Chapter 5 of the Bankruptcy Code, shall not be used to offset RVI Claims and/or DSW Claims. As used in this Agreement, the term “▇▇▇▇▇▇▇ Releasees” refers to FB II Acquisition Corp., its subsidiaries and other affiliates (excluding the Debtors and any of their subsidiaries which may from time to time exist) and their respective stockholders, directors, managers, officers, employees, agents, attorneys and representatives (excluding such persons of the Debtors and any of their subsidiaries which may from time to time exist)above.

Appears in 2 contracts

Sources: Settlement Agreement, Settlement Agreement

Mutual Releases. In consideration (a) Effective on the Closing Date (assuming consummation of the covenants contained in this Agreementtransactions contemplated hereby) and without limiting the effect of the Termination Acknowledgment, includingthe Trust releases, without limitation, RVI’s agreements with respect to the Pension Plan pursuant to paragraph 2 of this Agreementholds harmless, and other good forever discharges each of Grace and valuable consideration (receipt and sufficiency of which is hereby acknowledged) on the Effective Date: (i) the Debtors, their estates, the Committee, and any party that may acquire standing to prosecute estate claims on their behalf (the “Debtor Releasors”) shall be deemed to forever release RVI and DSW Grace Parent and their officersrespective Subsidiaries and Controlled Affiliates and all senior key employees, directors, agents, attorneys officers or directors of each such Subsidiary and employees and the ▇▇▇▇▇▇▇ Releasees (as hereinafter defined) Controlled Affiliate (collectively, the RVI/DSW ReleaseesGrace Released Parties”) from any and all claims and claims, actions, causes of action action, liability, obligations or expense (collectively, “Released Claims”) of any nature whatsoever, includingknown or unknown, without limitation, any and all claims pursuant to Chapter 5 of the Bankruptcy Codefixed or contingent, that the Debtor Releasors Trust has or may have on the Closing Date or may have after the Closing Date against the RVI/DSW Releasees;Grace Released Parties (or any of them), arising under, out of or in connection with the DPA, the Deferred Payments (PI), the Deferred Payment Documents (PI) or the DPA Obligation but nothing in the foregoing shall release, hold harmless or discharge any of the Grace Released Parties from their respective obligations under this Agreement, or under the DPA or the Guarantee to the extent such agreements are reinstated in accordance with the terms Section 11 or 12 thereof, respectively. (iib) Effective on the RVI/DSW Releasees Closing Date (assuming consummation of the transactions contemplated hereby), each of Grace and Grace Parent shall be deemed to forever release release, hold harmless and discharge the Debtor Releasors Trust and its Controlled Affiliates (collectively the “Trust Released Parties”) from any and all claims and causes Released Claims, of action any nature whatsoever, known or unknown, fixed or contingent that the RVI/DSW Releasees Grace, Grace Parent or either or both of them have or may have on the Closing Date or may have after the Closing Date against the Debtor ReleasorsTrust Released Parties (or any of them), except arising under or out of or in 132303/v8 8 connection with respect to those claims allowed herein; and the DPA, the Deferred Payments (iiiPI) or the DPA Obligations, but nothing in the foregoing shall release, hold harmless or discharge any of the Trust Released Parties from their obligations under this Agreement or the Termination Acknowledgment or under the DPA or the Guarantee to the extent approved by the Bankruptcy Court such agreements are reinstated in the context of a Chapter 11 plan of liquidation or reorganization to be proposed in the Debtors’ Chapter 11 cases, to the extent a creditor votes in favor of any plan of liquidation or reorganization proposed by the Debtors and/or the Committee (the “Plan”), or to the fullest extent permitted by law, such creditor shall be deemed to forever release the RVI/DSW Releasees from any and all claims and causes of action that such creditor may have against the RVI/DSW Releasees related to the prepetition and postpetition conduct of the Debtors’ business and the Debtors’ Chapter 11 cases; provided, however, that the foregoing releases shall not limit the rights of any party to enforce accordance with the terms of this Agreement. Approval of the release provided in paragraph 9(iii) of this Agreement shall not serve as a condition precedent to the effectiveness of the RVI/DSW SettlementSection 11 or 12 thereof, provided that the Debtors and the Committee shall cooperate in good faith and use their best efforts to obtain such approval. The releases provided under this paragraph 9 shall apply to all rights arising from or pursuant to Chapter 5 of the Bankruptcy Code; for the avoidance of doubt, claims against RVI and/or DSW, including under Chapter 5 of the Bankruptcy Code, shall not be used to offset RVI Claims and/or DSW Claims. As used in this Agreement, the term “▇▇▇▇▇▇▇ Releasees” refers to FB II Acquisition Corp., its subsidiaries and other affiliates (excluding the Debtors and any of their subsidiaries which may from time to time exist) and their respective stockholders, directors, managers, officers, employees, agents, attorneys and representatives (excluding such persons of the Debtors and any of their subsidiaries which may from time to time exist)respectively.

Appears in 1 contract

Sources: Obligation Termination Agreement (W R Grace & Co)

Mutual Releases. In consideration of Landlord releasing Tenant from its obligation to pay the covenants contained in this Agreement, including, without limitation, RVI’s agreements with respect balance of the rentals due under the Lease subsequent to the Pension Plan pursuant to paragraph 2 of Surrender Date and executing this Agreement, and in consideration of the representations and other good agreements herein contained, Landlord and valuable consideration (receipt Tenant hereby release and sufficiency of which is hereby acknowledged) on the Effective Date: (i) the Debtors, their estates, the Committeeforever discharge each other, and any party that may acquire standing to prosecute estate claims on their behalf (the “Debtor Releasors”) shall be deemed to forever release RVI and DSW and their respective partners, members, officers, directors, agents, attorneys trustees, beneficiaries, and employees, of and from any and all claims, acts, damages, demands, rights of action and causes of action which each party ever had, now has, or in the future may have, known or unknown, foreseeable or unforeseeable, against the other, arising from or in any way connected with the Lease, or Landlord’s management or operation of the Building and Project (“Claims”), except Claims which are related to or arising from (i) those obligations, representations, and liabilities contained herein or reinstated pursuant to the provisions of this Agreement, (ii) Tenant’s failure to use the Premises or any portion thereof in compliance with applicable statutes, ordinances, rules, regulations and orders and/or T▇▇▇▇▇’s use of the Premises, in a manner constituting waste or nuisance, (iii) Tenant’s failure to pay personal property taxes as contemplated under the Lease, (iv) Tenant’s failure to pay all Rent and any other payments due Landlord on or before the Surrender Date which may not be received as of the Surrender Date, (v) any violation of the terms of the Lease relating to liens against the Premises, the Building and/or the Project, (vi) any violation by Tenant or its subtenants, agents, employees or contractors relative to environmental laws concerning hazardous or toxic materials or substances, and/or (vii) the occurrence of any events in connection with which Tenant is required to indemnify Landlord or hold Landlord harmless as provided in the Lease, and/or (viii) the occurrence of any events in connection with which Landlord is required to indemnify Tenant or hold Tenant harmless as provided in the Lease (collectively, the “Reserved Claims”). Each of Landlord and Tenant reserves its rights and remedies under the Lease with respect to Reserved Claims. Except with respect to the Reserved Claims, this release is intended as a full settlement and compromise of each, every and all Claims of every kind and nature relating to the Lease, the management of the Building and Project and the occupancy and/or use of the Premises, the Building and/or the Project. Landlord and T▇▇▇▇▇ acknowledge that they are familiar with Section 1542 of the Civil Code of the State of California which provides: “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASING PARTY.” Landlord and Tenant expressly waive any and all rights which they may have under Section 1542 of the Civil Code of the State of California or the benefit they have or might have under any similar provision of the statutory or non-statutory law of any jurisdiction (or such similar statutes) pertaining to the Claims (other than the Reserved Claims). Landlord’s Initials: Tenant’s Initials: L▇▇▇▇▇▇▇ Releasees (as hereinafter defined) (collectively, the “RVI/DSW Releasees”) from any and all claims and causes of action of any nature whatsoever, including, without limitation, any and all claims pursuant to Chapter 5 of the Bankruptcy Code, that the Debtor Releasors may have against the RVI/DSW Releasees; (ii) the RVI/DSW Releasees shall be deemed to forever release the Debtor Releasors from any and all claims and causes of action that the RVI/DSW Releasees may have against the Debtor Releasors, except with respect to those claims allowed herein; and (iii) to the extent approved by the Bankruptcy Court in the context of a Chapter 11 plan of liquidation or reorganization to be proposed in the Debtors’ Chapter 11 cases, to the extent a creditor votes in favor of any plan of liquidation or reorganization proposed by the Debtors and/or the Committee (the “Plan”), or to the fullest extent permitted by law, such creditor shall be deemed to forever release the RVI/DSW Releasees from any and all claims and causes of action that such creditor may have against the RVI/DSW Releasees related to the prepetition and postpetition conduct of the Debtors’ business and the Debtors’ Chapter 11 cases; provided, however, that the foregoing releases shall not limit the rights of any party to enforce the terms of this Agreement. Approval of the release provided in paragraph 9(iii) of this Agreement shall not serve as a condition precedent to the effectiveness of the RVI/DSW Settlement, provided that the Debtors and the Committee shall cooperate in good faith and use their best efforts to obtain such approval. The releases provided under this paragraph 9 shall apply to all rights arising from or pursuant to Chapter 5 of the Bankruptcy Code; for the avoidance of doubt, claims against RVI and/or DSW, including under Chapter 5 of the Bankruptcy Code, shall not be used to offset RVI Claims and/or DSW Claims. As used in this Agreement, the term “▇▇T▇▇▇▇▇ Releasees” refers to FB II Acquisition Corp.understand and agree that by execution of this Agreement, each party and its subsidiaries and other affiliates (excluding the Debtors and any of their subsidiaries which may from time to time exist) and their respective stockholderspartners, officers, directors, managers, officers, employees, agents, attorneys trustees, beneficiaries, and representatives (excluding such persons employees do not admit any liability of any nature whatsoever. This Agreement is made entirely as a compromise and for the purpose of terminating the Lease and settling and extinguishing the respective claims, acts, damages, demands, rights of action or causes of action of the Debtors and any of their subsidiaries which may from time to time exist)parties hereto.

Appears in 1 contract

Sources: Lease Termination Agreement (Histogen Inc.)

Mutual Releases. (a) In consideration of the payments and covenants contained in this Agreementof the Purchaser set forth herein, includingExecutive (on behalf of himself and his respective heirs, without limitationassigns or executors) hereby releases the Purchaser, RVI’s agreements with respect to the Pension Plan pursuant to paragraph 2 of this AgreementCompany, and other good their respective predecessors, successors and valuable consideration (receipt and sufficiency of which is hereby acknowledged) on the Effective Date: (i) the Debtors, their estates, the Committeeassigns, and any party that may acquire standing to prosecute estate claims on their behalf (the “Debtor Releasors”) shall be deemed to forever release RVI respective present and DSW and their former direct or indirect affiliates, shareholders, subsidiaries, officers, directors, agentspartners, members, managers, employees, agents and attorneys and employees and the ▇▇▇▇▇▇▇ Releasees (as hereinafter defined) (collectively, the “RVI/DSW Releasees”) from any and all claims claims, actions, lawsuits, obligations, agreements, contracts, commitments and causes of action liabilities which exist or may exist of any nature kind whatsoever, includingwhether known or unknown (collectively, without limitation“Claims”), which Executive (including any heirs, assigns or executors) now has or may in the future have against any of the Releasees which relate in any way to Executive’s employment with the Company, Executive’s ownership of the Executive Securities or otherwise relate to Executive’s association with any of the Releasees; provided that “Claims” shall not include, and this Section 3(a) shall not be deemed a release of, any and all claims pursuant to Chapter 5 obligations of the Bankruptcy CodePurchaser or the Company expressly set forth in this Agreement or in the Company Note. Notwithstanding the foregoing, that Executive shall be entitled to the Debtor Releasors may have against benefits of the RVI/DSW Releasees;indemnity provided by the LLC Agreement and the Company’s certificate of incorporation or bylaws as of the date hereof, and any subsequent changes to the certificate of incorporation or bylaws enlarging or reducing the indemnity granted to Executive shall not affect the rights of Executive existing as of the date hereof. (iib) In consideration of the RVI/DSW Releasees shall be deemed to forever release covenants of Executive set forth herein, the Debtor Releasors Purchaser and the Company each hereby releases Executive and his respective heirs, successors or executors, from any and all claims Claims which the Purchaser and/or the Company (including their successors and causes assigns) (also referred to as “Releasees”) now has or may in the future have against Executive which relate in any way to Executive’s employment with the Company, Executive’s ownership of action the Executive Securities, or otherwise relate to Executive’s association with any of the Company or the Purchaser; provided that “Claims” shall not include, and this Section 3(b) shall not be deemed a release of, any obligations of Executive expressly set forth in this Agreement or the Surviving Provisions of the Employment Agreement (as amended hereby). (c) By entering into this Agreement, each of the Parties intends that it shall be effective as a bar to each and every one of the Claims hereinabove mentioned or implied. Each of the Parties expressly consents that this Agreement shall be given full force and effect according to each and all of its express terms and provisions, including those relating to unknown and unsuspected Claims. Each of the Parties acknowledges and agrees that the RVI/DSW Releasees may provisions hereof are reasonable in context and scope and that this waiver is an essential and material term of this Agreement and without such waiver the Parties would not have made the promises described in this Agreement. (d) Each of the Parties further agrees that in the event such Party brings its own Claim in which it seeks damages against the Debtor ReleasorsReleasees or in the event such Party seeks to recover against any other Party or any of the Releasees in any Claim brought by a governmental agency on such person’s behalf, except with respect the releases set forth in this Agreement shall serve as a complete defense to those claims allowed herein; andsuch Claims. (iiie) to the extent approved by the Bankruptcy Court in the context of a Chapter 11 plan of liquidation or reorganization to be proposed in the Debtors’ Chapter 11 cases, to the extent a creditor votes in favor of any plan of liquidation or reorganization proposed by the Debtors and/or the Committee (the “Plan”), or to the fullest extent permitted by law, such creditor shall be deemed to forever release the RVI/DSW Releasees from any and all claims and causes of action that such creditor may have against the RVI/DSW Releasees related to the prepetition and postpetition conduct of the Debtors’ business and the Debtors’ Chapter 11 cases; provided, however, Executive acknowledges that the foregoing releases shall not limit the rights of any party Company has provided Executive at least twenty-one (21) days to enforce the terms of decide whether to execute this Agreement. Approval of Executive hereby agrees and acknowledges that the release provided in paragraph 9(iii) of this Agreement Company shall not serve as a condition precedent have no obligations to make payments to him hereunder prior to the effectiveness of the RVI/DSW Settlement, provided that the Debtors and the Committee shall cooperate in good faith and use their best efforts to obtain such approval. The releases provided under this paragraph 9 shall apply to all rights arising from or pursuant to Chapter 5 of the Bankruptcy Code; for the avoidance of doubt, claims against RVI and/or DSW, including under Chapter 5 of the Bankruptcy Code, shall not be used to offset RVI Claims and/or DSW Claims. As used in this Agreement, the term “▇▇▇▇▇▇▇ Releasees” refers to FB II Acquisition Corp., its subsidiaries and other affiliates (excluding the Debtors and any of their subsidiaries which may from time to time exist) and their respective stockholders, directors, managers, officers, employees, agents, attorneys and representatives (excluding such persons of the Debtors and any of their subsidiaries which may from time to time exist)Closing Date.

Appears in 1 contract

Sources: Termination and Purchase Agreement (CTN Media Group Inc)

Mutual Releases. In For and in consideration of the covenants contained transactions contemplated in this Agreement and the execution of the Restated Non-Competition Agreement, including, without limitation, RVI’s agreements with respect to the Pension Plan pursuant to paragraph 2 of this Agreement, and other good and valuable consideration (receipt and sufficiency of which is hereby acknowledged, the parties hereby grant the following mutual releases: 1. Company/Partnership Release The Company and the Partnership (collectively, the "Company Releasors") hereby release and forever discharge ▇▇▇▇▇▇▇▇▇, his agents, servants, employees, heirs and assigns, and all other persons, firms and corporations with whom and which he is, was, or in the future may be, related or affiliated, both directly and indirectly (collectively, the "▇▇▇▇▇▇▇▇▇ Releasees"), from any and all claims, demands, actions and causes of action, and all liability whatsoever (collectively "Losses,") on account of or in any manner arising or to arise out of actions or inactions by the Effective Date: ▇▇▇▇▇▇▇▇▇ Releasees at any time before the date hereof, whether released or indemnified against under this Agreement, the by-laws of the Company, the Partnership's Limited Partnership Agreement or the Contribution Agreement; excluding, however, (i) the Debtorsenforceability of the covenants, their estatesrepresentations and warranties under the terms of this Agreement; (ii) the enforceability of the Restated Non-Competition Agreement; (iii) the willful misconduct or gross negligence of the ▇▇▇▇▇▇▇▇▇ Releasees, which is injurious to the CommitteeCompany and/or the Partnership; (iv) the ▇▇▇▇▇▇▇▇▇ Releasees conviction of, or plea of guilty to, a felony; (v) actions which are ultra ▇▇▇▇▇ or otherwise outside the scope of ▇▇▇▇▇▇▇▇▇'▇ authority as chief executive officer and/or director of the Company; and any party (vi) acts of dishonesty or fraud by the ▇▇▇▇▇▇▇▇▇ Releasees with respect to the Company and/or the Partnership; provided, however, that may acquire standing to prosecute estate claims on their behalf the foregoing exclusions (the “Debtor Releasors”i) through (vi) shall be deemed not apply to forever release RVI those activities, transactions and DSW matters by, between and their officers, directors, agents, attorneys and employees among the Company Releasors and the ▇▇▇▇▇▇▇▇▇ Releasees (as hereinafter defined"Activities") (collectively, the “RVI/DSW Releasees”) from any and all claims and causes of action of any nature whatsoever, including, without limitation, any and all claims pursuant to Chapter 5 of the Bankruptcy Code, that the Debtor Releasors may have against the RVI/DSW Releasees; (ii) the RVI/DSW Releasees shall be deemed to forever release the Debtor Releasors from any and all claims and causes of action that the RVI/DSW Releasees may have against the Debtor Releasors, except with respect to those claims allowed herein; and (iii) which prior to the extent approved Effective Date have been disclosed by the Bankruptcy Court in the context of a Chapter 11 plan of liquidation or reorganization to be proposed in the Debtors’ Chapter 11 cases, to the extent a creditor votes in favor of any plan of liquidation or reorganization proposed by the Debtors and/or the Committee (the “Plan”), or to the fullest extent permitted by law, such creditor shall be deemed to forever release the RVI/DSW Releasees from any and all claims and causes of action that such creditor may have against the RVI/DSW Releasees related to the prepetition and postpetition conduct of the Debtors’ business and the Debtors’ Chapter 11 cases; provided, however, that the foregoing releases shall not limit the rights of any party to enforce the terms of this Agreement. Approval of the release provided in paragraph 9(iii) of this Agreement shall not serve as a condition precedent to the effectiveness of the RVI/DSW Settlement, provided that the Debtors and the Committee shall cooperate in good faith and use their best efforts to obtain such approval. The releases provided under this paragraph 9 shall apply to all rights arising from or pursuant to Chapter 5 of the Bankruptcy Code; for the avoidance of doubt, claims against RVI and/or DSW, including under Chapter 5 of the Bankruptcy Code, shall not be used to offset RVI Claims and/or DSW Claims. As used in this Agreement, the term “▇▇▇▇▇▇▇▇▇ Releasees” refers Releasees to FB II Acquisition Corp.the Company Releasors other than new facts with respect to such Activities which were not disclosed to the Company Releasors prior to the date hereof. The execution of this instrument by the Company Releasors releases the ▇▇▇▇▇▇▇▇▇ Releasees of and from all Losses, its subsidiaries and other affiliates (excluding known or unknown at the Debtors and any time of their subsidiaries the execution of this instrument, which have resulted or may hereafter result, or which may from time hereafter be discovered, and which relate in any way to time exist) the subject matter of this Section 9.a. 2. ▇▇▇▇▇▇▇▇▇ Release ▇▇▇▇▇▇▇▇▇, his agents, servants, employees, heirs and assigns, and all other persons, firms and corporations with whom and which he is, was, or in the future may be, related or affiliated, both directly and indirectly (collectively the "▇▇▇▇▇▇▇▇▇ Releasors"), hereby release and forever discharge the Company, the Partnership, their respective stockholdersofficers, directors, managerstrustees and employees and other persons, officersfirms and corporations with whom and which they are, employeeswere, agentsor in the future may be, attorneys related or affiliated, both directly and representatives indirectly (excluding such persons collectively, the "Company Releasees") from any and all Losses on account of or in any manner arising or to arise out of actions or inactions by the Company Releasees at any time before the date hereof, whether indemnified against under the Contribution Agreement or this Agreement; excluding, however, (i) the enforceability of the Debtors covenants, representations and any warranties made by the Company Releasees under the terms of their subsidiaries this Agreement or the Contribution Agreement, and (ii) the indemnification provisions contained in this Agreement, the by-laws of the Company and the Limited Partnership Agreement of the Partnership. The execution of this instrument by the ▇▇▇▇▇▇▇▇▇ Releasees releases the Company Releasees of and from all Losses, known or unknown at the time of the execution of this instrument, which have resulted or may hereafter result, or which may from time hereafter be discovered, and which relate in any way to time exist)the subject matter of this Section 9.b.

Appears in 1 contract

Sources: Severance and Consulting Agreement (Acadia Realty Trust)

Mutual Releases. In consideration a. Executive hereby acknowledges full and complete satisfaction of and does hereby release and forever discharge the covenants contained Company Releasees (as defined in Section 2 above) of and from any and all claims, demands, and causes of action of whatever kind or nature (including without limitation, claims for damages, costs, expenses, and reasonable attorneys’ and accountants’ fees and expenses), whether known or unknown, suspected or unsuspected by Executive (collectively, “Claims”), that Executive now owns or holds or has at any time previously owned or held, up to the date of this Agreement, against the Company Releasees, or any of them, arising or relating, directly or indirectly, to: (i) the employment of Executive by the Company on or prior to the date of this Agreement; (ii) the circumstances related to the execution and delivery of this Agreement; or (iii) the performance of Executive’s duties on behalf of the Company on or prior to the date of this Agreement, whether arising under tort, contract or other law and whether arising under state, federal or other law including, without limitation, RVI’s agreements with respect to under Title VII of the Pension Plan pursuant to paragraph 2 Civil Rights Act of this Agreement, and other good and valuable consideration (receipt and sufficiency of which is hereby acknowledged) on the Effective Date: (i) the Debtors, their estates1964, the Committee, and any party that may acquire standing to prosecute estate claims on their behalf Civil Rights Act of 1991; the Americans with Disabilities Act; the Age Discrimination in Employment Act (“ADEA”); the Older Workers Benefit Protection Act of 1990 (the “Debtor ReleasorsOWBPA) shall be deemed to forever release RVI ); the National Labor Relations Act (the “NLRA”); the Occupational Safety and DSW Health Act; the Immigration Reform Control Act; § 503 of the Rehabilitation Act of 1973; the Civil Rights Act of 1866; except as otherwise provided herein the Consolidated Omnibus Budget Reconciliation Act of 1985; Executive Order 11246; the Employee Retirement Income Security Act; the Workers Adjustment and their officers, directors, agents, attorneys and employees and Retraining Notification Act; the ▇▇▇▇▇▇▇▇-▇▇▇▇Releasees Act of 2002; the United States Constitution, including any rights of privacy thereunder; the Maryland Fair Employment Practices Act; claims for breach of express or implied contract, including breach of the covenant of good faith and fair dealing; claims for unpaid wages, medical expenses, or other benefits or compensation; any claims arising out of any and all employee handbooks, policy and procedure manuals, and other policies and practices of the Company from the time of Executive’s employment to the date Executive signs this Agreement; claims for attorneys’ fees and costs; and any and all claims arising under any other federal, state, or local laws, statutes, regulations, or ordinances, as well as any and all common law legal or equitable claims (as hereinafter defined) (collectively, the “RVI/DSW ReleaseesExecutive Release) ). b. Executive recognizes that he may have some claim, demand, or cause of action against a Company Releasee of which Executive is totally unaware and unsuspecting that Executive is giving up by execution of this release. It is the intention of Executive in executing this release that this release will deprive Executive of each such claim, demand, and cause of action and prevent Executive from asserting it against any Company Releasee (in each case except as such claim, demand, or cause of action has been excluded from the Executive Release). c. Executive represents and warrants to the Company that no portion of any claim, demand, cause of action, or other matter released by Executive herein, nor any portion of any recovery or settlement to which Executive might be entitled from any Company Releasee, has been assigned or transferred to any other person or entity, either directly or by way of subrogation or operation of law. Executive hereby agrees to indemnify, defend, and hold the Company harmless from any and all loss, cost, claim, and expense (including, but not limited to, all expenses of investigation and defense of any such claim or action, including reasonable attorneys’ and accountants’ fees, costs, and expenses) arising out of any claim made or action instituted against any Company Releasee by any person or entity that claims to be the beneficiary of any assignment or transfer from Executive and to pay and satisfy any judgment resulting from any settlement of any such claim or action. Although Executive is releasing all claims under the ADEA and OWBPA, Executive understands that this indemnity, defense, and hold harmless agreement does not apply to challenges to the knowing and voluntary nature of this Agreement under the ADEA and OWBPA. d. The Company hereby acknowledges full and complete satisfaction of and does hereby release and forever discharge Executive of and from any and all claims, demands, and causes of action of any whatever kind or nature whatsoever, including, (including without limitation, any claims for damages, costs, expenses, and all claims pursuant to Chapter 5 of reasonable attorneys’ and accountants’ fees and expenses), whether known or unknown, suspected or unsuspected by the Bankruptcy CodeCompany (collectively, “Company Claims”), that the Debtor Releasors may have Company now owns or holds or has at any time previously owned or held, up to the date of this Agreement, against Executive, arising or relating, directly or indirectly, to: (i) the RVI/DSW Releasees; employment of Executive by the Company on or prior to the date of this Agreement; (ii) the RVI/DSW Releasees shall circumstances related to the execution and delivery of this Agreement; or (iii) the performance of Executive’s duties on behalf of the Company on or prior to the date of this Agreement, whether arising under tort, contract or other law and whether arising under state, federal or other law and any claims arising out of any and all employee handbooks, policy and procedure manuals, and other policies and practices of the Company from the time of Executive’s employment to the date Executive signs this Agreement. e. The Company recognizes that it may have some claim, demand, or cause of action against Executive of which the Company is totally unaware and unsuspecting that the Company is giving up by execution of this release. It is the intention of the Company in executing this release that this release will deprive the Company of each such claim, demand, and cause of action and prevent the Company from asserting it against the Executive (in each case except as such claim, demand, or cause of action has been excluded from this release). f. The Company represents and warrants to Executive that no portion of any claim, demand, cause of action, or other matter released by the Company herein, nor any portion of any recovery or settlement to which the Company might be deemed entitled from Executive, has been assigned or transferred to forever release the Debtor Releasors any other person or entity, either directly or by way of subrogation or operation of law. The Company hereby agrees to indemnify, defend, and hold Executive harmless from any and all loss, cost, claim, and expense (including, but not limited to, all expenses of investigation and defense of any such claim or action, including reasonable attorneys’ and accountants’ fees, costs, and expenses) arising out of any claim made or action instituted against Executive by any person or entity that claims and causes of action that the RVI/DSW Releasees may have against the Debtor Releasors, except with respect to those claims allowed herein; and (iii) to the extent approved by the Bankruptcy Court in the context of a Chapter 11 plan of liquidation or reorganization to be proposed in the Debtors’ Chapter 11 cases, to the extent a creditor votes in favor beneficiary of any plan of liquidation assignment or reorganization proposed by transfer from the Debtors and/or the Committee (the “Plan”), or Company and to the fullest extent permitted by law, such creditor shall be deemed to forever release the RVI/DSW Releasees pay and satisfy any judgment resulting from any and all claims and causes of action that such creditor may have against the RVI/DSW Releasees related to the prepetition and postpetition conduct of the Debtors’ business and the Debtors’ Chapter 11 cases; provided, however, that the foregoing releases shall not limit the rights settlement of any party to enforce the terms of this Agreement. Approval of the release provided in paragraph 9(iii) of this Agreement shall not serve as a condition precedent to the effectiveness of the RVI/DSW Settlement, provided that the Debtors and the Committee shall cooperate in good faith and use their best efforts to obtain such approval. The releases provided under this paragraph 9 shall apply to all rights arising from claim or pursuant to Chapter 5 of the Bankruptcy Code; for the avoidance of doubt, claims against RVI and/or DSW, including under Chapter 5 of the Bankruptcy Code, shall not be used to offset RVI Claims and/or DSW Claims. As used in this Agreement, the term “▇▇▇▇▇▇▇ Releasees” refers to FB II Acquisition Corp., its subsidiaries and other affiliates (excluding the Debtors and any of their subsidiaries which may from time to time exist) and their respective stockholders, directors, managers, officers, employees, agents, attorneys and representatives (excluding such persons of the Debtors and any of their subsidiaries which may from time to time exist)action.

Appears in 1 contract

Sources: Separation Agreement (American Capital, LTD)

Mutual Releases. In consideration a. Sellers’ Representative (“Seller Releasor”), on behalf of himself, Sellers and his and their respective Affiliates, successors and assigns (collectively, the “Seller Release Parties”), hereby fully releases and forever discharges any and all rights and claims that he has had, now has or might now have against Purchaser and its Affiliates and each of their officers, directors, representatives, subsidiaries, predecessors, successors, assigns, beneficiaries, heirs, executors, insurers, and attorneys of each of them (collectively, the “Purchaser Release Parties”) in connection with the matters that are the subject of Section 2 of this Amendment, including payment of any Earnout Amount; provided, however, that for the avoidance of doubt, Purchaser Release Parties’ obligations under Article X of the covenants contained in Purchase Agreement shall survive according to their terms for all matters that do not directly arise from the matters that are the subject of Section 2 of this Agreement, including, without limitation, RVI’s agreements with respect Amendment. Seller Releasor acknowledges that there is a possibility that subsequent to the Pension Plan pursuant date hereof, Seller Releasor or the Seller Release Parties will discover facts or incur or suffer claims that were unknown or unsuspected at the time this Amendment was executed, and which if known by Seller Releasor or the Seller Release Parties at that time may have materially affected their decision to paragraph 2 agree to this Section 3(a). Seller Releasor, on behalf of himself and the Seller Release Parties, acknowledges and agrees that by reason of this Agreement, and the releases contained in the first sentence of this Section 3(a), Seller Releasor, on behalf of himself and the Seller Release Parties, is assuming any risk of such unknown facts and such unknown and unsuspected claims. Seller Releasor, on behalf of himself and the Seller Release Parties, agrees that Seller Releasor and the Seller Release Parties will forever refrain and forbear from commencing, instituting or prosecuting any lawsuit, action or other good and valuable consideration (receipt and sufficiency proceeding of any kind whatsoever, by way of action, defense, set-off, cross-complaint or counterclaim, against the Purchaser Release Parties based on, arising out of, or in connection with any right or claim, which is hereby acknowledgedreleased and discharged by reason of the first sentence of this Section 3(a). If any provision of this Section 3(a) on the Effective Date: (i) the Debtorsis held to be invalid or unenforceable for any reason, their estates, the Committee, and any party that may acquire standing to prosecute estate claims on their behalf (the “Debtor Releasors”) such provision shall be deemed to forever release RVI and DSW and their officers, directors, agents, attorneys and employees and the ▇▇▇▇▇▇▇ Releasees (as hereinafter defined) (collectively, the “RVI/DSW Releasees”) from any and all claims and causes of action of any nature whatsoever, including, without limitation, any and all claims pursuant to Chapter 5 of the Bankruptcy Code, that the Debtor Releasors may have against the RVI/DSW Releasees; (ii) the RVI/DSW Releasees shall be deemed to forever release the Debtor Releasors from any and all claims and causes of action that the RVI/DSW Releasees may have against the Debtor Releasors, except with respect to those claims allowed herein; and (iii) ineffective to the extent approved by the Bankruptcy Court in the context of a Chapter 11 plan of liquidation such invalidity or reorganization to be proposed in the Debtors’ Chapter 11 cases, to the extent a creditor votes in favor of any plan of liquidation or reorganization proposed by the Debtors and/or the Committee (the “Plan”), or to the fullest extent permitted by law, such creditor shall be deemed to forever release the RVI/DSW Releasees from any and all claims and causes of action that such creditor may have against the RVI/DSW Releasees related to the prepetition and postpetition conduct of the Debtors’ business and the Debtors’ Chapter 11 casesunenforceability; provided, however, that the foregoing releases shall not limit the rights of any party to enforce the terms remaining provisions of this Agreement. Approval Section 3(a) will continue in full force and effect without being impaired or invalidated in any way unless such invalid or unenforceable provision or clause is so significant as to materially affect the expectations of the parties regarding this Section 3(a). Otherwise, any invalid or unenforceable provision shall be replaced by the parties with a valid provision that most closely approximates the intent and economic effect of the invalid or unenforceable provision. b. Purchaser Release Parties hereby fully release provided and forever discharge any and all rights and claims that they have had, now have or might now have against Seller Releasor and Seller Release Parties in paragraph 9(iii) connection with the matters that are the subject of Section 2 of this Agreement shall not serve as a condition precedent to the effectiveness of the RVI/DSW SettlementAmendment; provided, provided however, that the Debtors and the Committee shall cooperate in good faith and use their best efforts to obtain such approval. The releases provided under this paragraph 9 shall apply to all rights arising from or pursuant to Chapter 5 of the Bankruptcy Code; for the avoidance of doubt, claims against RVI and/or DSW, including Seller Releasor’s and Seller Release Parties’ obligations under Chapter 5 Article X of the Bankruptcy CodePurchase Agreement shall survive according to their terms for all matters that do not directly arise from the matters that are the subject of Section 2 of this Amendment. Purchaser Release Parties acknowledge that there is a possibility that subsequent to the date hereof, shall not be used Purchaser Release Parties will discover facts or incur or suffer claims that were unknown or unsuspected at the time this Amendment was executed, and which if known by Purchaser Release Parties at that time may have materially affected their decision to offset RVI Claims and/or DSW Claimsagree to this Section 3(b). As used in Purchaser Release Parties, acknowledge and agree that by reason of this Agreement, and the term “▇▇▇▇▇▇▇ Releasees” refers to FB II Acquisition Corp.releases contained in the first sentence of this Section 3(b), its subsidiaries the Purchaser Release Parties, are assuming any risk of such unknown facts and such unknown and unsuspected claims. Purchase Release Parties agree that the Purchaser Release Parties will forever refrain and forbear from commencing, instituting or prosecuting any lawsuit, action or other affiliates (excluding proceeding of any kind whatsoever, by way of action, defense, set-off, cross-complaint or counterclaim, against the Debtors Seller Release Parties based on, arising out of, or in connection with any right or claim, which is released and any of their subsidiaries which may from time to time exist) and their respective stockholders, directors, managers, officers, employees, agents, attorneys and representatives (excluding such persons discharged by reason of the Debtors first sentence of this Section 3(b). If any provision of this Section 3(b) is held to be invalid or unenforceable for any reason, such provision shall be ineffective to the extent of such invalidity or unenforceability; provided, however, that the remaining provisions of this Section 3(b) will continue in full force and effect without being impaired or invalidated in any way unless such invalid or unenforceable provision or clause is so significant as to materially affect the expectations of their subsidiaries which may from time to time existthe parties regarding this Section 3(b). Otherwise, any invalid or unenforceable provision shall be replaced by the parties with a valid provision that most closely approximates the intent and economic effect of the invalid or unenforceable provision.

Appears in 1 contract

Sources: Asset Purchase Agreement (Genesco Inc)

Mutual Releases. In consideration (a) Each of the covenants contained in this AgreementCypress, includingits subsidiaries, without limitationaffiliates under its control, RVI’s agreements with respect to the Pension Plan pursuant to paragraph 2 of this Agreementpredecessors, successors and assigns, and other good the current and valuable consideration (receipt and sufficiency of which is hereby acknowledged) on the Effective Date: (i) the Debtors, their estates, the Committee, and any party that may acquire standing to prosecute estate claims on their behalf (the “Debtor Releasors”) shall be deemed to forever release RVI and DSW and their officers, former directors, agents, attorneys and employees and the ▇▇▇▇▇▇▇ Releasees (as hereinafter defined) (collectively, the “RVI/DSW Releasees”) from any and all claims and causes of action of any nature whatsoever, including, without limitation, any and all claims pursuant to Chapter 5 of the Bankruptcy Code, that the Debtor Releasors may have against the RVI/DSW Releasees; (ii) the RVI/DSW Releasees shall be deemed to forever release the Debtor Releasors from any and all claims and causes of action that the RVI/DSW Releasees may have against the Debtor Releasors, except with respect to those claims allowed herein; and (iii) to the extent approved by the Bankruptcy Court in the context of a Chapter 11 plan of liquidation or reorganization to be proposed in the Debtors’ Chapter 11 cases, to the extent a creditor votes in favor of any plan of liquidation or reorganization proposed by the Debtors and/or the Committee (the “Plan”), or to the fullest extent permitted by law, such creditor shall be deemed to forever release the RVI/DSW Releasees from any and all claims and causes of action that such creditor may have against the RVI/DSW Releasees related to the prepetition and postpetition conduct of the Debtors’ business and the Debtors’ Chapter 11 cases; provided, however, that the foregoing releases shall not limit the rights of any party to enforce the terms of this Agreement. Approval of the release provided in paragraph 9(iii) of this Agreement shall not serve as a condition precedent to the effectiveness of the RVI/DSW Settlement, provided that the Debtors and the Committee shall cooperate in good faith and use their best efforts to obtain such approval. The releases provided under this paragraph 9 shall apply to all rights arising from or pursuant to Chapter 5 of the Bankruptcy Code; for the avoidance of doubt, claims against RVI and/or DSW, including under Chapter 5 of the Bankruptcy Code, shall not be used to offset RVI Claims and/or DSW Claims. As used in this Agreement, the term “▇▇▇▇▇▇▇ Releasees” refers to FB II Acquisition Corp., its subsidiaries and other affiliates (excluding the Debtors and any of their subsidiaries which may from time to time exist) and their respective stockholders, directors, managers, officers, employees, agents, attorneys and representatives of each of them (excluding collectively, the “Cypress Parties”), hereby releases ▇▇▇▇▇▇▇ and forever discharges ▇▇▇▇▇▇▇ from all liability relating in any way to any and all Claims (defined below): (i) asserted in or that could have been asserted in the Delaware Actions, to the extent such persons Claims arise out of facts disclosed in connection with the Delaware Actions, and (ii) arising from ▇▇▇▇▇▇▇’▇ actions, within the course and scope of his service to Cypress as Executive Chairman or member of the Debtors Board, which are known as of the time of the execution of this Agreement to the Board or the Chief Executive Officer of Cypress, other than Claims relating to fraud (with respect to both subparts (i) and (ii) in this subparagraph), which the Cypress Parties ever had, now have or hereafter can, shall or may have, for, upon or by reason of any matter, cause or thing whatsoever from the beginning of their subsidiaries the world to the date of this Agreement; provided, however, that the releases set forth in this Section 1 shall not affect the Parties’ obligations set forth in this Agreement and shall not affect the rights of ▇▇▇▇▇▇▇ to advancement or indemnification under any preexisting obligation, bylaw, agreement, or statute. (b) ▇▇▇▇▇▇▇ hereby releases the Cypress Parties and forever discharges the Cypress Parties from all liability relating in any way to any and all Claims: (i) asserted in or that could have been asserted in the Delaware Actions, to the extent such Claims arise out of facts disclosed in connection with the Delaware Actions, and (ii) arising from any Cypress Party’s actions, which are known to ▇▇▇▇▇▇▇ as of the time of the execution of this Agreement, other than Claims relating to fraud (with respect to both subparts (i) and (ii) in this subparagraph), which ▇▇▇▇▇▇▇ ever had, now has or hereafter can, shall or may have, for, upon or by reason of any matter, cause or thing whatsoever from time the beginning of the world to time exist)the date of this Agreement; provided, however, that the releases set forth in this Section 1 shall not affect the Parties’ obligations set forth in this Agreement and shall not affect the rights of the Cypress Parties to advancement or indemnification under any preexisting obligation, bylaw, agreement, or statute.

Appears in 1 contract

Sources: Mutual Release Agreement (Cypress Semiconductor Corp /De/)

Mutual Releases. In consideration (a) Each of the covenants contained in this AgreementCBS Parties, including, without limitation, RVI’s agreements with respect to the Pension Plan pursuant to paragraph 2 of this Agreement, hereby releases and other good and valuable consideration (receipt and sufficiency of which is hereby acknowledged) on the Effective Date: forever discharges from all liability (i) NAI/Redstone Parties, (ii) the DebtorsOfficer and Director Parties and (iii) the Additional CBS Officers, their estates, the Committee, and any party that may acquire standing to prosecute estate claims on their behalf (the “Debtor Releasors”) shall be deemed to forever release RVI and DSW and their officers, directors, agents, attorneys and employees and the ▇▇▇▇▇▇▇ Releasees (as hereinafter defined) (collectively, the “RVI/DSW Releasees”) from any and all claims and causes Claims (as defined below) arising out of action of any nature whatsoever, including, without limitation, any and all claims pursuant to Chapter 5 of the Bankruptcy Code, that the Debtor Releasors may have against the RVI/DSW Releasees; (ii) the RVI/DSW Releasees shall be deemed to forever release the Debtor Releasors from any and all claims and causes of action that the RVI/DSW Releasees may have against the Debtor Releasors, except with respect to those claims allowed herein; and (iii) or relating to the extent approved NAI Entities’ investment in CBS, including actions taken by directors and officers in connection therewith and conduct alleged or asserted in, and the Bankruptcy Court in the context of a Chapter 11 plan of liquidation or reorganization to be proposed in the Debtors’ Chapter 11 cases, to the extent a creditor votes in favor of any plan of liquidation or reorganization proposed by the Debtors and/or the Committee (the “Plan”)Claims asserted in, or to that could have been asserted in, the fullest extent permitted by law, such creditor shall be deemed to forever release the RVI/DSW Releasees from any and all claims and causes of action that such creditor may have against the RVI/DSW Releasees related to the prepetition and postpetition conduct of the Debtors’ business and the Debtors’ Chapter 11 cases; provided, however, that the foregoing releases shall not limit the rights of any party to enforce the terms of this Agreement. Approval of the release provided in paragraph 9(iii) of this Agreement shall not serve as a condition precedent to the effectiveness of the RVI/DSW Settlement, provided that the Debtors and the Committee shall cooperate in good faith and use their best efforts to obtain such approval. The releases provided under this paragraph 9 shall apply to all rights arising from or pursuant to Chapter 5 of the Bankruptcy Code; Litigation (for the avoidance of doubt, claims against RVI and/or DSWother than any Specified Matters, including under Chapter 5 the “Released Claims”), which such CBS Party ever had, now has or hereafter can, shall or may have, for, upon or by reason of any matter, cause or thing whatsoever from the beginning of the Bankruptcy Codeworld to the date of this Settlement. (b) Each of the NAI/Redstone Parties hereby releases and forever discharges from all liability (i) the CBS Parties, (ii) the Officer and Director Parties and (iii) the Additional CBS Officers from any and all Released Claims which such NAI/Redstone Party ever had, now has or hereafter can, shall not be used or may have, for, upon or by reason of any matter, cause or thing whatsoever from the beginning of the world to offset RVI the date of this Settlement. (c) Each of the Officer and Director Parties hereby releases and forever discharges from all liability (i) the NAI/Redstone Parties and (ii) the CBS Parties from any and all Released Claims and/or DSW Claims. As used which such Officer and Director Party ever had, now has or hereafter can, shall or may have, for, upon or by reason of any matter, cause or thing whatsoever from the beginning of the world to the date of this Settlement. (d) Nothing in this AgreementSettlement shall affect (i) the rights of any CBS Party, NAI/Redstone Party or Officer and Director Party to coverage under any preexisting insurance policies maintained by CBS or any of its affiliates or under any preexisting indemnity rights, obligations or arrangements that any such person or entity may have with CBS (including for the avoidance of doubt pursuant to the Charter or the Bylaws) or any of its affiliates or (ii) except as expressly set forth in this Settlement, the term “▇▇▇▇▇▇▇ Releasees” refers to FB II Acquisition Corp.rights of any CBS Party, its subsidiaries NAI/Redstone Party or Officer and other affiliates (excluding Director Party who owns shares of capital stock of CBS, of record or beneficially, in connection with the Debtors and any ownership of their subsidiaries which may from time to time exist) and their respective stockholderssuch shares under the Delaware General Corporation Law, directors, managers, officers, employees, agents, attorneys and representatives (excluding such persons of the Debtors and any of their subsidiaries which may from time to time exist)Charter or the Bylaws.

Appears in 1 contract

Sources: Settlement and Release Agreement (CBS Corp)

Mutual Releases. In consideration THE PARTIES HEREBY MUTUALLY RELEASE, effective as of the covenants contained in this Agreement, including, without limitation, RVI’s agreements with respect to the Pension Plan pursuant to paragraph 2 of this Agreement, and other good and valuable consideration (receipt and sufficiency of which is hereby acknowledged) on the Effective Date: (i) , all claims between the Debtors, their estates, State Plaintiffs and CLST on the Committeeone hand and the Directors on the other, and between the Red Oak Parties on the one hand and the Directors and CLST on the other of any party type or nature, known and unknown, arising prior to the Effective Date, including but not limited to claims for negligence, fraud, breach of fiduciary duty or any other legal duty, violation of any statute or regulation, or recoupment, reimbursement, or any similar theory, and also including but not limited to claims that may acquire standing to prosecute estate have been, could have been, or in the future might be or could be asserted in any forum by CLST shareholders derivatively on behalf of CLST relating to, arising out of, or derived from the allegations, facts, transactions, or claims on their behalf made the subject of any pleading or allegation in either of the Actions (the “Debtor ReleasorsReleased Claims”) (the releases effectuated hereby shall hereinafter be deemed referred to forever release RVI and DSW and their officers, directors, agents, attorneys and employees and as the ▇▇▇▇▇▇▇ Releasees (as hereinafter defined) (collectively“Releases”). Notwithstanding the foregoing, the “RVI/DSW Releasees”) from Released Claims shall not include any claims by the Directors for indemnity and all advancement under the Company’s certificate of incorporation, charter, and bylaws, nor shall the Released Claims include any claims and causes of action of by the Company or the Directors under any nature whatsoeverinsurance policy maintained by the Company. If requested by the Directors, including, without limitation, the State Plaintiffs shall file any and all claims pursuant necessary amended pleadings to Chapter 5 of the Bankruptcy Code, that the Debtor Releasors may have against the RVI/DSW Releasees; (ii) the RVI/DSW Releasees shall be deemed to forever release the Debtor Releasors from any and all claims and causes of action that the RVI/DSW Releasees may have against the Debtor Releasors, except with respect to those claims allowed herein; and (iii) provide maximum effect to the extent approved by foregoing and agree to meet and confer with counsel for the Bankruptcy Court Directors in the context of a Chapter 11 plan of liquidation or reorganization good faith to be proposed in the Debtors’ Chapter 11 cases, determine whether to the extent a creditor votes in favor of any plan of liquidation or reorganization proposed by the Debtors and/or the Committee (the “Plan”), or to the fullest extent permitted by law, such creditor shall be deemed to forever release the RVI/DSW Releasees from any and all claims and causes of action that such creditor may have against the RVI/DSW Releasees related to the prepetition and postpetition conduct of the Debtors’ business and the Debtors’ Chapter 11 cases; provided, however, that the foregoing releases shall not limit the rights of any party to enforce the terms of this Agreement. file an amended petition before Final Approval of the release provided Settlement alleging all factual allegations known to the State Plaintiffs and all legal theories reasonably supported by such allegations. The filing of any further pleadings referred to in paragraph 9(iii) of this Agreement Section shall not serve as a condition precedent to in any way limit the effectiveness scope of the RVI/DSW SettlementReleases, provided that including the Debtors and the Committee shall cooperate in good faith and use their best efforts to obtain such approval. The releases provided under this paragraph 9 shall apply to all rights arising from or pursuant to Chapter 5 application of the Bankruptcy Code; for the avoidance of doubt, claims against RVI and/or DSW, including under Chapter 5 of the Bankruptcy Code, shall not be used Release to offset RVI Claims and/or DSW Claims. As used in this Agreement, the term “▇▇▇▇▇▇▇ Releasees” refers to FB II Acquisition Corp., its subsidiaries and other affiliates (excluding the Debtors and any of their subsidiaries which may from time to time exist) and their respective stockholders, directors, managers, officers, employees, agents, attorneys and representatives (excluding such persons of the Debtors and any of their subsidiaries which may from time to time exist)unknown claims.

Appears in 1 contract

Sources: Memorandum of Understanding (CLST Holdings, Inc.)

Mutual Releases. (a) In consideration exchange for the rights and benefits arising under this Release, and except for any failure by Buyer to pay the Settlement Amount in accordance with Section 1 above (including payment of the covenants contained in this AgreementNotes, includingas may have been adjusted), without limitationeach Seller, RVI’s agreements with respect to the Pension Plan pursuant to paragraph 2 of this Agreementon his or her own behalf, and other good on behalf of his or her heirs, beneficiaries, legal and valuable consideration (receipt personal representatives, successors, assigns, affiliates and sufficiency of which is hereby acknowledged) anyone else acting on the Effective Date: (i) the Debtors, their estates, the Committee, and any party that may acquire standing to prosecute estate claims on their his or her behalf (the “Debtor Releasors”) shall be deemed to forever release RVI and DSW and their officers, directors, agents, attorneys and employees and the ▇▇▇▇▇▇▇ Releasees (as hereinafter defined) (collectively, the “RVI/DSW ReleaseesSeller Parties”) from any hereby irrevocably releases and all claims and causes of action of any nature whatsoever, including, without limitation, any and all claims pursuant to Chapter 5 of the Bankruptcy Code, that the Debtor Releasors may have against the RVI/DSW Releasees; (ii) the RVI/DSW Releasees shall be deemed to forever release the Debtor Releasors from any and all claims and causes of action that the RVI/DSW Releasees may have against the Debtor Releasors, except with respect to those claims allowed herein; and (iii) to the extent approved by the Bankruptcy Court in the context of a Chapter 11 plan of liquidation or reorganization to be proposed in the Debtors’ Chapter 11 cases, to the extent a creditor votes in favor of any plan of liquidation or reorganization proposed by the Debtors and/or the Committee (the “Plan”), or to the fullest extent permitted by law, such creditor shall be deemed to forever release the RVI/DSW Releasees from any and all claims and causes of action that such creditor may have against the RVI/DSW Releasees related to the prepetition and postpetition conduct of the Debtors’ business discharges Buyer and the Debtors’ Chapter 11 cases; provided, however, that the foregoing releases shall not limit the rights of any party to enforce the terms of this Agreement. Approval of the release provided in paragraph 9(iii) of this Agreement shall not serve as a condition precedent to the effectiveness of the RVI/DSW Settlement, provided that the Debtors Company and the Committee shall cooperate in good faith and use their best efforts to obtain such approval. The releases provided under this paragraph 9 shall apply to all rights arising from or pursuant to Chapter 5 of the Bankruptcy Code; for the avoidance of doubt, claims against RVI and/or DSW, including under Chapter 5 of the Bankruptcy Code, shall not be used to offset RVI Claims and/or DSW Claims. As used in this Agreement, the term “▇▇▇▇▇▇▇ Releasees” refers to FB II Acquisition Corp., its subsidiaries and other affiliates (excluding the Debtors and any each of their subsidiaries which may from time to time exist) respective parents, subsidiaries, divisions, affiliates, predecessors, successors and assigns, and their respective stockholders, present and former directors, managersofficers, officersshareholders, employees, agents, attorneys attorneys, representatives, successors, beneficiaries, heirs and representatives assigns (excluding collectively, “Buyer Parties”) from, and waives and relinquishes, any and all Claims, whether presently known or unknown, of any kind or nature arising out of, relating to or based upon the Payment or the calculation thereof. Each Seller knowingly grants such persons release and discharge notwithstanding that he or she may hereafter discover facts in addition to, or different from, those which he or she now knows or believes to be true, and without regard to the subsequent discovery or existence of such different or additional facts, and each Seller expressly waives any and all rights that he or she may have under any statute or common law principle which would limit the effect of the Debtors foregoing release and discharge to those Claims actually known or suspected to exist. (b) In exchange for the rights and benefits arising under this Release, and except for any breach of their subsidiaries this Release, Buyer hereby irrevocably releases and forever discharges Sellers from, and waives and relinquishes, any and all Claims, whether presently known or unknown, of any kind or nature arising out of, relating to or based upon the Unearned Revenues or the calculation thereof. Buyer knowingly grants such release and discharge notwithstanding that it may hereafter discover facts in addition to, or different from, those which it now knows or believes to be true, and without regard to the subsequent discovery or existence of such different or additional facts, and Buyer expressly waives any and all rights that it may from time have under any statute or common law principle which would limit the effect of the foregoing release and discharge to time those Claims actually known or suspected to exist).

Appears in 1 contract

Sources: Settlement Agreement (National Investment Managers Inc.)

Mutual Releases. In consideration of Each party hereby releases, discharges and acquits the covenants contained in this Agreement, including, without limitation, RVI’s agreements with respect to the Pension Plan pursuant to paragraph 2 of this Agreementother party, and the other good and valuable consideration (receipt and sufficiency of which is hereby acknowledged) on the Effective Date: (i) the Debtorsparty’s members, their estatespartners, the Committeeaffiliates, and any party that may acquire standing to prosecute estate claims on their behalf (the “Debtor Releasors”) shall be deemed to forever release RVI and DSW and their subsidiaries, officers, directors, agents, attorneys attorneys, employees, successors, and employees assigns; from and the ▇▇▇▇▇▇▇ Releasees (as hereinafter defined) (collectively, the “RVI/DSW Releasees”) from of any and all claims debts, claims, liabilities, demands, damages, actions and causes of action of any nature kind and of all kinds whatsoever, includingwhether known or unknown, without limitationsuspected or unsuspected, any and all claims pursuant to Chapter 5 that either party has or could have had against the other as of the Bankruptcy Codedate hereof, that arising out of or relating in any way to the Debtor Releasors Lease and the occupancy or use of the Premises prior to the Agreement Date, except for: (i) a party’s obligations to pay or to refund or credit underpayments or overpayment, as the case may be, by Tenant of Additional Rent after actual amounts of Additional Rent have against the RVI/DSW Releasees; been determined; (ii) any indemnification obligations of Tenant under the RVI/DSW Releasees shall be deemed Lease which are covered by Tenant’s insurance; (iii) Tenant’s obligations and liabilities under the Subleases that accrued prior to forever release the Debtor Releasors from Agreement Date; and (iv) any and all claims and causes of action that the RVI/DSW Releasees may have against the Debtor Releasors, except obligations or liabilities with respect to those claims allowed herein; and (iii) to space being retained by Tenant, including as described in the extent approved Fourth Amendment. This limited release shall be governed by the Bankruptcy Court in laws of the context State of a Chapter 11 plan of liquidation or reorganization California. It is understood by the undersigned Landlord and Tenant that the facts with respect to which this limited release is given may hereafter turn out to be proposed other than or different from the facts in that connection now known to it or believed by it to be true, and that each of Landlord and Tenant therefore expressly assumes the Debtors’ Chapter 11 cases, to the extent a creditor votes in favor of any plan of liquidation or reorganization proposed by the Debtors and/or the Committee (the “Plan”), or to the fullest extent permitted by law, such creditor shall be deemed to forever release the RVI/DSW Releasees from any and all claims and causes of action that such creditor may have against the RVI/DSW Releasees related to the prepetition and postpetition conduct risk of the Debtors’ business facts turning out to be different and the Debtors’ Chapter 11 cases; provided, however, agrees that the foregoing releases limited release shall be in all respects effective and not limit the rights of any party subject to enforce the terms of this Agreement. Approval of the release provided in paragraph 9(iii) of this Agreement shall not serve termination or rescission as a condition precedent to the effectiveness result of the RVI/DSW Settlementsuch difference in facts. This limited release shall bind all persons or entities claiming any rights under or through Landlord or Tenant, provided that the Debtors and the Committee shall cooperate in good faith and use their best efforts to obtain such approval. The releases provided under this paragraph 9 shall apply to all rights arising from whether as stockholders or pursuant to Chapter 5 of the Bankruptcy Code; for the avoidance of doubt, claims against RVI and/or DSW, including under Chapter 5 of the Bankruptcy Code, shall not be used to offset RVI Claims and/or DSW Claims. As used in this Agreement, the term “▇▇▇▇▇▇▇ Releasees” refers to FB II Acquisition Corp., its subsidiaries and other affiliates (excluding the Debtors and any of their subsidiaries which may from time to time exist) and their respective stockholders, directors, managers, officers, employees, agents, attorneys and representatives (excluding such persons of the Debtors and any of their subsidiaries which may from time to time exist)otherwise.

Appears in 1 contract

Sources: Lease Agreement (Broadvision Inc)

Mutual Releases. In consideration of the covenants contained in this Agreement, including, without limitation, RVI’s agreements with respect (a) Subject to the Pension Plan pursuant to payments and deliveries described in paragraph 2 hereof, MTE, TVLC and TVLCA hereby unconditionally release and forever discharge each other, their current and former officers, directors, shareholders, partners, beneficiaries, agents, subsidiaries, affiliates, affiliated agents, employees, attorneys, representatives, insurers, successors, assigns and heirs from any and all sums of money, accounts, and claims, arising out of or relating to TVLCA's failure to pay the Overdue Payments to MTE in accordance with the Lease Agreement. (b) All parties to this Agreement do hereby acknowledge that there is a risk that subsequent to the execution of this Agreement, one or more parties may incur or suffer loss, damage or injuries which are in some way caused by the transactions or dealings referred to in paragraph 1(a) above, but which are unknown and other good and valuable consideration (receipt and sufficiency of which unanticipated at the time this Agreement is hereby acknowledged) on the Effective Date:signed. (ic) All parties hereto do hereby assume the Debtorsabove-mentioned risks and intend that this Agreement shall apply to all unknown or unanticipated results of the transactions and occurrences described above, their estates, the Committeeas well as those known and anticipated, and any party that may acquire standing to prosecute estate claims on their behalf (upon the “Debtor Releasors”) shall be deemed to forever release RVI and DSW and their officersadvice of legal counsel, directors, agents, attorneys and employees and the ▇▇▇▇▇▇▇ Releasees (as hereinafter defined) (collectively, the “RVI/DSW Releasees”) from all parties do hereby waive any and all rights to bring forth any claims and causes of action of any nature whatsoever, including, without limitation, any and all claims pursuant whatsoever relating to Chapter 5 of transactions or dealings between the Bankruptcy Code, that the Debtor Releasors may have against the RVI/DSW Releasees;parties hereto. (iid) the RVI/DSW Releasees shall be deemed The advice of legal counsel has been obtained by all parties prior to forever release the Debtor Releasors from any and all claims and causes of action that the RVI/DSW Releasees may have against the Debtor Releasors, except with respect to those claims allowed herein; and (iii) to the extent approved by the Bankruptcy Court in the context of a Chapter 11 plan of liquidation or reorganization to be proposed in the Debtors’ Chapter 11 cases, to the extent a creditor votes in favor of any plan of liquidation or reorganization proposed by the Debtors and/or the Committee (the “Plan”), or to the fullest extent permitted by law, such creditor shall be deemed to forever release the RVI/DSW Releasees from any and all claims and causes of action that such creditor may have against the RVI/DSW Releasees related to the prepetition and postpetition conduct of the Debtors’ business and the Debtors’ Chapter 11 cases; provided, however, that the foregoing releases shall not limit the rights of any party to enforce the terms of signing this Agreement. Approval All parties represent that they have executed this Agreement voluntarily, with full knowledge of its significance, and with the express intention of extinguishing of all obligations between the parties arising out of or relating to the transactions or dealings referred to in paragraph 1(a) above. (e) Each party hereto represents and warrants that no portion of any claim or claims, nor any portion of any recovery or settlement, To Whom It May Concern: which each party might be entitled has been assigned, subrogated or transferred to any other person or entity, whether firm, partnership, corporation or otherwise. In the event that any claim, demand or suit should be made or instituted against any of the release provided in paragraph 9(iii) parties hereto because of this Agreement shall any such purported assignment or subrogation or transfer, the other party, as the case may be, agrees to defend, indemnify and hold harmless the other parties against any claim or claims, and to pay and satisfy any such claims, sale or demand, including necessary expenses of investigation, attorneys' fees and costs. It is the express intention of the parties hereto that payment is not serve as a condition precedent to the effectiveness of the RVI/DSW Settlement, provided that the Debtors and the Committee shall cooperate in good faith and use their best efforts to obtain such approval. The releases provided under this paragraph 9 shall apply to all rights arising from or pursuant to Chapter 5 of the Bankruptcy Code; for the avoidance of doubt, claims against RVI and/or DSW, including under Chapter 5 of the Bankruptcy Code, shall not be used to offset RVI Claims and/or DSW Claims. As used in this Agreement, the term “▇▇▇▇▇▇▇ Releasees” refers to FB II Acquisition Corp., its subsidiaries and other affiliates (excluding the Debtors and any of their subsidiaries which may from time to time exist) and their respective stockholders, directors, managers, officers, employees, agents, attorneys and representatives (excluding such persons of the Debtors and any of their subsidiaries which may from time to time exist)Indemnity.

Appears in 1 contract

Sources: Mutual General Release Agreement (Truevision International Inc)

Mutual Releases. In consideration of Symantec releasing Tenant from its obligation to pay the covenants contained in balance of the rentals due under the Leases subsequent to the De Anza Termination Date or the applicable Torre Termination Date, as applicable, and executing this Agreement, and in consideration of Tenant’s agreement to pay the Termination Fee described in Section 5 above, and the representations and other agreements herein contained, Symantec and Tenant hereby release and forever discharge each other, and their respective partners, members, officers, directors, agents, trustees, beneficiaries, and employees, of and from any and all claims, acts, damages, demands, rights of action and causes of action which each party ever had, now has, or in the future may have, against the other, arising from or in any way connected with the Leases, or Symantec’s or Landlord’s management or operation of the Buildings, except for those obligations and liabilities contained herein or reinstated pursuant to the provisions hereof, including, without limitation, RVI’s agreements with respect the failure of either party to perform its obligations pursuant to this Agreement. This release is intended as a full settlement and compromise of each, every and all claims of every kind and nature relating to the Pension Plan pursuant Leases, the management of the Buildings and the occupancy and/or use of the Premises. Symantec and Tenant acknowledge that they are familiar with Section 1542 of the Civil Code of the State of California which provides: “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.” Symantec and Tenant expressly waive any and all rights which they may have under Section 1542 of the Civil Code of the State of California or the benefit they have or might have under any similar provision of the statutory or non-statutory law of any jurisdiction pertaining to paragraph 2 the Leases (or such similar statutes). Symantec’s Initials: /s/ SCM Tenant’s Initials: /s/ LB Symantec and Tenant understand and agree that by execution of this Agreement, each party and other good and valuable consideration (receipt and sufficiency of which is hereby acknowledged) on the Effective Date: (i) the Debtorsits partners, their estates, the Committee, and any party that may acquire standing to prosecute estate claims on their behalf (the “Debtor Releasors”) shall be deemed to forever release RVI and DSW and their officers, directors, agents, attorneys trustees, beneficiaries, and employees do not admit any liability of any nature whatsoever. This Agreement is made entirely as a compromise and for the ▇▇▇▇▇▇▇ Releasees (as hereinafter defined) (collectivelypurpose of terminating the Leases and settling and extinguishing the respective claims, the “RVI/DSW Releasees”) from any and all claims and acts, damages, demands, rights of action or causes of action of any nature whatsoever, including, without limitation, any and all claims pursuant to Chapter 5 of the Bankruptcy Code, that the Debtor Releasors may have against the RVI/DSW Releasees; (ii) the RVI/DSW Releasees shall be deemed to forever release the Debtor Releasors from any and all claims and causes of action that the RVI/DSW Releasees may have against the Debtor Releasors, except with respect to those claims allowed herein; and (iii) to the extent approved by the Bankruptcy Court in the context of a Chapter 11 plan of liquidation or reorganization to be proposed in the Debtors’ Chapter 11 cases, to the extent a creditor votes in favor of any plan of liquidation or reorganization proposed by the Debtors and/or the Committee (the “Plan”), or to the fullest extent permitted by law, such creditor shall be deemed to forever release the RVI/DSW Releasees from any and all claims and causes of action that such creditor may have against the RVI/DSW Releasees related to the prepetition and postpetition conduct of the Debtors’ business and the Debtors’ Chapter 11 cases; provided, however, that the foregoing releases shall not limit the rights of any party to enforce the terms of this Agreement. Approval of the release provided in paragraph 9(iii) of this Agreement shall not serve as a condition precedent to the effectiveness of the RVI/DSW Settlement, provided that the Debtors and the Committee shall cooperate in good faith and use their best efforts to obtain such approval. The releases provided under this paragraph 9 shall apply to all rights arising from or pursuant to Chapter 5 of the Bankruptcy Code; for the avoidance of doubt, claims against RVI and/or DSW, including under Chapter 5 of the Bankruptcy Code, shall not be used to offset RVI Claims and/or DSW Claims. As used in this Agreement, the term “▇▇▇▇▇▇▇ Releasees” refers to FB II Acquisition Corp., its subsidiaries and other affiliates (excluding the Debtors and any of their subsidiaries which may from time to time exist) and their respective stockholders, directors, managers, officers, employees, agents, attorneys and representatives (excluding such persons of the Debtors and any of their subsidiaries which may from time to time exist)parties hereto.

Appears in 1 contract

Sources: Lease Termination Agreement (Portal Software Inc)

Mutual Releases. In consideration of (a) Except for the covenants rights and obligations contained in this AgreementAgreement and in the Judgments/Injunctions, including, without limitation, RVI’s agreements with respect to craigslist releases and forever discharges the Pension Plan pursuant to paragraph 2 of this Agreement, and other good and valuable consideration (receipt and sufficiency of which is hereby acknowledged) on the Effective Date: (i) the Debtors, their estates, the Committee, and any party that may acquire standing to prosecute estate claims on their behalf (the “Debtor Releasors”) shall be deemed to forever release RVI and DSW Settling Defendants and their employees, officers, directors, agentsand attorneys from any and all manner of causes of actions, attorneys suits, proceedings, debts, contracts, judgments, damages, costs, claims and employees demands of any kind (“Claims”), whether in law, equity or otherwise, which they have ever had, now have or may have in the future, arising on or before the Effective Date from the conduct at issue in the Action or other conduct known to craigslist as of the Effective Date, including all claims and counterclaims alleged in the Action. For the avoidance of doubt, this release does not encompass Defendant ▇▇▇▇▇ ▇▇▇▇▇▇▇ Releasees or any contractors or other third party individuals or entities from whom the Settling Defendants have sourced, acquired, or received content from craigslist’s website or computer systems. (as hereinafter definedb) (collectivelyThe Settling Defendants hereby release and forever discharge craigslist and its employees, the “RVI/DSW Releasees”) officers, directors, and attorneys from any and all Claims, whether in law, equity or otherwise, which they ever had, now have or may have in the future, arising on or before the Effective Date from the conduct at issue in the Action or other conduct known to the Settling Defendants as of the Effective Date, including all claims and counterclaims alleged in the Action. (c) For the avoidance of doubt, the Parties do not release claims for breach of this Agreement or the enforcement of the Judgments/Injunctions. (d) It is the intention of the Parties that this Agreement shall be effective as a full and final release of all of the Claims released in sections 6(a) and 6(b) above, subject to the terms of this Agreement, whether the full facts and circumstances relating to the Claims are known or unknown. In furtherance thereof, the Parties, for themselves and their respective predecessors, successors and assigns and all persons acting by, through, under, or in concert with any of them, acknowledge that they have been advised by legal counsel of their own choosing concerning this Agreement, and are familiar with, the provisions of California Civil Code Section 1542, which provides: Each of the Parties hereby expressly waives and relinquishes any and all rights and benefits vis-à-vis the Parties released hereunder, which he, she or it has or may have under section 1542 of the Civil Code, with respect to the Claims released in sections 6(a) and 6(b) above. Each of the Parties acknowledges that he, she or it is aware that he, she or it or his, her or its attorneys may hereafter discover facts different from or in addition to those which the Parties or their respective attorneys now know or believe to be true with respect to the claims, demands, debts, liabilities, accounts, obligations, and causes of action of any nature whatsoeverevery kind flowing from the foregoing released Claims, including, without limitation, any and all claims pursuant to Chapter 5 they each agree that the release so given shall be and remain in effect as a full and complete release of the Bankruptcy CodeParties released thereby notwithstanding any such different or additional facts, that the Debtor Releasors may have against the RVI/DSW Releasees; (ii) the RVI/DSW Releasees shall be deemed subject to forever release the Debtor Releasors from any and all claims and causes of action that the RVI/DSW Releasees may have against the Debtor Releasors, except with respect to those claims allowed herein; and (iii) to the extent approved by the Bankruptcy Court in the context of a Chapter 11 plan of liquidation or reorganization to be proposed in the Debtors’ Chapter 11 cases, to the extent a creditor votes in favor of any plan of liquidation or reorganization proposed by the Debtors and/or the Committee (the “Plan”), or to the fullest extent permitted by law, such creditor shall be deemed to forever release the RVI/DSW Releasees from any and all claims and causes of action that such creditor may have against the RVI/DSW Releasees related to the prepetition and postpetition conduct of the Debtors’ business and the Debtors’ Chapter 11 cases; provided, however, that the foregoing releases shall not limit the rights of any party to enforce the terms of this Agreement. Approval of the release provided in paragraph 9(iii) of this Agreement shall not serve as a condition precedent to the effectiveness of the RVI/DSW Settlement, provided that the Debtors and the Committee shall cooperate in good faith and use their best efforts to obtain such approval. The releases provided under this paragraph 9 shall apply to all rights arising from or pursuant to Chapter 5 of the Bankruptcy Code; for the avoidance of doubt, claims against RVI and/or DSW, including under Chapter 5 of the Bankruptcy Code, shall not be used to offset RVI Claims and/or DSW Claims. As used in this Agreement, the term “▇▇▇▇▇▇▇ Releasees” refers to FB II Acquisition Corp., its subsidiaries and other affiliates (excluding the Debtors and any of their subsidiaries which may from time to time exist) and their respective stockholders, directors, managers, officers, employees, agents, attorneys and representatives (excluding such persons of the Debtors and any of their subsidiaries which may from time to time exist).

Appears in 1 contract

Sources: Settlement Agreement

Mutual Releases. A. In consideration of the covenants contained in this Agreementagreements of ALRe and Holdings hereunder, includingXL and XL Re release and forever discharge ALRe and Holdings, without limitationtheir subsidiaries, RVI’s agreements with respect to the Pension Plan pursuant to paragraph 2 of this Agreementpredecessors, successors and assigns, and other good each of their respective officers, directors and valuable consideration (receipt and sufficiency of which is hereby acknowledged) on the Effective Date: (i) the Debtors, their estates, the Committee, and any party that may acquire standing to prosecute estate claims on their behalf affiliates (the “Debtor Releasors”) shall be deemed to forever release RVI and DSW and their officers, directors, agents, attorneys and employees and the ▇▇▇▇▇▇▇ Releasees (as hereinafter defined) (collectively, the “RVI/DSW Releasees”"ALRe Related Parties") from any and all claims liabilities and causes obligations of action the ALRe Related Parties arising under or related to the Retrocession Agreements, the Administration Agreement, the Master Agreement and the Letters of any nature whatsoeverIntent, whether known or unknown, reported or unreported and whether currently existing or arising in the future, including, but not limited to, all claims, debts, demands, causes of action, duties, sums of money, covenants, contracts, controversies, agreements, promises, doings, omissions, damages, judgments, costs, expenses, and losses whatsoever (including without limitationlimitation any claims based on fraud, any bad faith or extracontractual liabilities). XL and all claims pursuant to Chapter 5 of the Bankruptcy Code, XL Re further acknowledge that the Debtor Releasors may have against the RVI/DSW Releasees; (ii) the RVI/DSW Releasees shall be deemed to forever release the Debtor Releasors from any and all claims and causes of action that the RVI/DSW Releasees may have against the Debtor Releasors, except with respect to those claims allowed herein; and (iii) to the extent approved by the Bankruptcy Court in the context of a Chapter 11 plan of liquidation or reorganization to be proposed in the Debtors’ Chapter 11 cases, to the extent a creditor votes in favor of any plan of liquidation or reorganization proposed by the Debtors and/or the Committee (the “Plan”), or to the fullest extent permitted by law, such creditor shall be deemed to forever release the RVI/DSW Releasees from any and all claims and causes of action that such creditor may have against the RVI/DSW Releasees related to the prepetition and postpetition conduct of the Debtors’ business and the Debtors’ Chapter 11 cases; provided, however, that the foregoing releases shall not limit the rights of any party to enforce the terms of this Agreement. Approval of the release provided in paragraph 9(iii) provisions of this Agreement shall not serve as a condition precedent to are in complete accord, satisfaction, settlement and commutation of ALRe's liabilities and obligations under the effectiveness of Retrocession Agreements, the RVI/DSW SettlementAdministration Agreement, provided that the Debtors Master Agreement and the Committee shall cooperate in good faith and use their best efforts to obtain such approval. The releases Letters of Intent; provided under this paragraph 9 shall apply to all rights arising from or pursuant to Chapter 5 of the Bankruptcy Code; that, for the avoidance of doubt, nothing in this Agreement shall be construed to (i) release or relieve ALRe or Holdings from any indemnification obligation that it owes or may owe in the future to any of its directors that are officers, directors, or designees of, or otherwise related to, XL, (ii) release or relieve ALRe or Holdings from any obligation that it may have, now or in the future, to any affiliate of XL as a shareholder or warrantholder of Holdings, (iii) release any party from its obligations under this Agreement or (iv) preclude XL from making any claims or cross-claims in connection with existing or future shareholder lawsuits against RVI and/or DSW, including under Chapter 5 Holdings. B. In consideration of the Bankruptcy Codeagreements of XL and XL Re hereunder, shall not be used ALRe and Holdings hereby release and forever discharge XL and XL Re, their subsidiaries , predecessors, successors and assigns, and each of their respective officers, directors and affiliates (the "XL Related Parties") from any and all liabilities and obligations of the XL Related Parties arising under or related to offset RVI Claims and/or DSW Claims. As used in this the Retrocession Agreements, the Administration Agreement, the term “▇▇▇▇▇▇▇ Releasees” refers Master Agreement, and the Letters of Intent, whether known or unknown, reported or unreported, and whether currently existing or arising in the future, including, but not limited to, all claims, debts, demands, causes of action, duties, sums of money, covenants, contracts, controversies, agreements, promises, doings, omissions, damages, judgments, costs, expenses, and losses whatsoever (including without limitation all claims based on fraud, bad faith or extracontractual liabilities). ALRe and Holdings further acknowledge that the provisions of this Agreement are in complete accord, satisfaction, settlement and commutation of XL's and XL Re's liabilities and obligations under the Retrocession Agreements, the Master Agreement and the Letters of Intent, provided that nothing in this Agreement shall be construed to FB II Acquisition Corp.release any party from its obligations under this Agreement. C. In the event that a court of Bermuda, its subsidiaries the United States or any state of the United States (i) avoids or does not enforce or give full effect to the releases given by any party herein or (ii) avoids or does not give full effect to any payment or obligation made or required to be made by any party hereunder, then this Agreement and the releases herein by the parties shall, at the option of XL if the party referred to in (i) or (ii) is ALRe or Holdings or at the option of ALRe if the party referred to in (i) is XL or XL Re, be null and void. D. Each of the parties agrees and covenants that it will not file or cause to be filed any lawsuit, arbitration or other affiliates proceeding asserting any claim released by the release executed by it. In the event a party files any such lawsuit, arbitration or other proceeding, the party so filing will indemnify the other parties for all costs incurred in defending against such proceeding, including attorneys' fees. E. The parties shall not seek to reopen, set aside or otherwise dispute the effectiveness of this Agreement on any grounds whatsoever, including without limitation, (excluding i) that this Agreement is void or voidable on the Debtors grounds of intentional fraud, misrepresentation, mistake of law, mistake of fact or any other basis (it being understood that neither party has relied on any statement of any other party not set forth as an express warranty herein and that there is no fact that is or could be known to one party the disclosure of which would have caused the other party not to enter into this Agreement), (ii) that any of their subsidiaries the parties in the future becomes aware of any mistake of law (including such mistake arising as a result of a subsequent change of law, which may from time to time exist) and their respective stockholdersshall include, directorswithout limitation, managers, officers, employees, agents, attorneys and representatives (excluding such persons a settled understanding of the Debtors and law which is subsequently departed from by judicial decision) and/or (iii) any mistake of their subsidiaries which may from time to time exist)fact in any way whatsoever connected with this Agreement.

Appears in 1 contract

Sources: Settlement Agreement (Annuity & Life Re Holdings LTD)

Mutual Releases. In As further consideration hereunder, as of the covenants contained Effective Date of this Settlement Agreement and except for the obligations set forth in this Settlement Agreement and the Relationship Agreement, includingthe Parties hereby completely release, without limitation, RVI’s agreements with respect to the Pension Plan pursuant to paragraph 2 of this Agreementacquit, and other good and valuable consideration (receipt and sufficiency of which is hereby acknowledged) on the Effective Date: (i) the Debtors, their estates, the Committeeforever discharge one another, and any party that may acquire standing to prosecute estate claims on their behalf (the “Debtor Releasors”) shall be deemed to forever release RVI and DSW and their respective owners, officers, directors, shareholders, members, managers, representatives, employees, lawyers, agents, attorneys assigns, actual and employees potential investors, parent companies and the ▇▇▇▇▇▇▇ Releasees (as hereinafter defined) (collectivelysubsidiary companies, the “RVI/DSW Releasees”) from and against any and all claims and (including those in law or equity), demands, rights, obligations, debts, expenses, liabilities, defenses, or causes of action action, whether or not alleged, recited, described, or currently asserted, whether known or unknown, fixed or contingent, that were or may have been asserted concerning the same, from the beginning of time through the Effective Date, including but not limited to, those that arise out of, concern, or relate to the Utah Lawsuit and the Missouri Lawsuit or the facts alleged therein. The Parties hereby waive the benefits of any nature whatsoever, including, without limitation, law of California or Utah or any and all claims pursuant to Chapter 5 other state of the Bankruptcy CodeUnited States which provides that a general release does not extend to claims which the Party does not know or expect to exist in its favor at the time of executing the release, that the Debtor Releasors which if known to him may have against materially affected the RVI/DSW Releasees; (ii) settlement. It is the RVI/DSW Releasees shall be deemed intention of the Parties to forever discharge and release the Debtor Releasors from any all known and all claims and causes of action that the RVI/DSW Releasees may have against the Debtor Releasorsunknown claims. IT IS EXPRESSLY UNDERSTOOD AND AGREED THAT A PORTION OF THE CONSIDERATION BEING GIVEN UNDER THIS SETTLEMENT AGREEMENT IS IN CONSIDERATION FOR THE RELEASE OF CLAIMS AND INJURIES THE NATURE, except with respect to those claims allowed herein; and (iii) to the extent approved by the Bankruptcy Court in the context of a Chapter 11 plan of liquidation or reorganization to be proposed in the Debtors’ Chapter 11 casesEXTENT AND AMOUNT OF WHICH ARE NOT, to the extent a creditor votes in favor of any plan of liquidation or reorganization proposed by the Debtors and/or the Committee (the “Plan”)AND DESPITE REASONABLE DILIGENCE COULD NOT NOW BE KNOWN AND THAT ANY PRINCIPLE OR RULE OF LAW TO THE CONTRARY, or to the fullest extent permitted by law, such creditor shall be deemed to forever release the RVI/DSW Releasees from any and all claims and causes of action that such creditor may have against the RVI/DSW Releasees related to the prepetition and postpetition conduct of the Debtors’ business and the Debtors’ Chapter 11 cases; provided, however, that the foregoing releases shall not limit the rights of any party to enforce the terms of this Agreement. Approval of the release provided in paragraph 9(iii) of this Agreement shall not serve as a condition precedent to the effectiveness of the RVI/DSW Settlement, provided that the Debtors and the Committee shall cooperate in good faith and use their best efforts to obtain such approval. The releases provided under this paragraph 9 shall apply to all rights arising from or pursuant to Chapter 5 of the Bankruptcy Code; for the avoidance of doubt, claims against RVI and/or DSW, including under Chapter 5 of the Bankruptcy Code, shall not be used to offset RVI Claims and/or DSW Claims. As used in this Agreement, the term “▇▇▇▇▇▇▇ Releasees” refers to FB II Acquisition Corp., its subsidiaries and other affiliates (excluding the Debtors and any of their subsidiaries which may from time to time exist) and their respective stockholders, directors, managers, officers, employees, agents, attorneys and representatives (excluding such persons of the Debtors and any of their subsidiaries which may from time to time exist)THE INTENT AND AGREEMENT OF THE PARTIES IS THAT ANY AND ALL UNKNOWN CLAIMS ARE AND SHALL BE RELEASED BY VIRTUE OF THE FOREGOING PROVISIONS OF THIS SETTLEMENT AGREEMENT.

Appears in 1 contract

Sources: Settlement Agreement (STAMPS.COM Inc)

Mutual Releases. In consideration of the covenants contained in this Agreement, including, without limitation, RVI’s agreements with respect to the Pension Plan pursuant to paragraph 2 of this Agreement, and other good and valuable consideration (receipt and sufficiency of which is hereby acknowledged) on On the Effective Date: (i) , Woodlands, on the Debtors, their estates, the Committeeone hand, and any party that may acquire standing to prosecute estate claims on their behalf (the “Debtor Releasors”) shall be deemed to forever release RVI and DSW and their officers, directors, agents, attorneys and employees and each of the ▇▇▇▇▇▇ Entities and the Other ▇▇▇▇▇▇ Releasees (Debtors, on the other hand, shall execute and deliver mutual releases in the forms for Woodlands and LBHI attached hereto as hereinafter defined) (collectivelyExhibits B and C, the “RVI/DSW Releasees”) from any respectively, whereby such Party will release and all claims waive or cause to be released and causes waived on its behalf, and on behalf of action of any nature whatsoever, including, without limitationits related parties identified in such form, any and all claims pursuant to Chapter 5 claims, demands, liabilities and causes of the Bankruptcy Codeaction, both in law and in equity, that the Debtor Releasors it has, had or claims to have or have had or hereafter can, may or shall have against the RVI/DSW Releasees; other and its related parties (iias identified in such form of release) from the RVI/DSW Releasees shall be deemed beginning of time and arising out of actions, omissions or events occurring, or circumstances existing, on or prior to forever release the Debtor Releasors from any and all claims and causes of action that the RVI/DSW Releasees may have against the Debtor ReleasorsMarch 31, 2010, except with respect to those claims allowed herein; and (iii) to the extent approved by the Bankruptcy Court as otherwise provided in the context such form of a Chapter 11 plan of liquidation or reorganization to be proposed in the Debtors’ Chapter 11 cases, to the extent a creditor votes in favor of any plan of liquidation or reorganization proposed by the Debtors and/or the Committee (the “Plan”), or to the fullest extent permitted by law, such creditor shall be deemed to forever release the RVI/DSW Releasees from any and all claims and causes of action that such creditor may have against the RVI/DSW Releasees related to the prepetition and postpetition conduct of the Debtors’ business and the Debtors’ Chapter 11 casesrelease; provided, however, that nothing in any such release shall release the foregoing releases shall not limit the rights of any party to enforce the terms of this Agreement. Approval of the release provided in paragraph 9(iiiParties from their obligations under (a) of this Agreement shall not serve as a condition precedent to the effectiveness of the RVI/DSW Settlement, provided that the Debtors and the Committee shall cooperate in good faith and use their best efforts to obtain such approval. The releases provided under this paragraph 9 shall apply to all rights arising from or pursuant to Chapter 5 of the Bankruptcy Code; for the avoidance of doubt, claims against RVI and/or DSW, including under Chapter 5 of the Bankruptcy Code, shall not be used to offset RVI Claims and/or DSW Claims. As used in this Agreement, (b) under any agreements, instruments or related documents executed pursuant to this Agreement or otherwise in accordance with or necessary to implement the term “▇▇▇▇▇▇▇ Releasees” refers Settlement or any of the transactions or agreements provided for or contemplated herein or (c) the other agreements between or among the Parties in effect and still to FB II Acquisition Corp.be performed at the Effective Date identified in the form of release. The Parties hereby acknowledge and agree that, except as provided in Section 5 above, this Agreement does not, and is not intended to, resolve any of the Other Loan Funding Commitment Claims, Pending Litigation Claims, or Indemnification Claims to the extent that any such claim on the date hereof is unliquidated and each of the Parties reserves all of their rights in this regard, including the right to make claims and/or reach agreements to settle all such matters at a later date. In addition, the Parties hereby acknowledge and agree that this Agreement does not, and is not intended to address or resolve (i) any indemnification or contribution obligations of LBHI or any of its subsidiaries and other affiliates (excluding the Debtors and to Woodlands or any of their its subsidiaries, or any other intercompany claims, in each case not yet known to Woodlands as of the date hereof, or any indemnification or contribution obligations of Woodlands to LBHI and its subsidiaries, or any other intercompany claims, in each case not yet known to LBHI or its subsidiaries which may from time to time existas of the date hereof; (ii) and their any claim that Woodlands or its respective stockholders, current or former directors, managers, officers, employees, agents, attorneys officers and representatives employees have under (excluding such persons A) any insurance policies that are or were maintained by LBHI or (B) the bylaws or certificate of the Debtors and any incorporation of their subsidiaries which may from time to time exist).LBHI or Bancorp; and

Appears in 1 contract

Sources: Settlement Agreement

Mutual Releases. In 4.1 For and in consideration of the covenants contained in this Agreementpayments to be made and the other agreements of AMASYS set forth herein, includingPBGC hereby irrevocably releases and forever discharges AMASYS and its directors, without limitation, RVI’s agreements with respect to the Pension Plan pursuant to paragraph 2 of this Agreement, and other good and valuable consideration (receipt and sufficiency of which is hereby acknowledged) on the Effective Date: (i) the Debtors, their estates, the Committee, and any party that may acquire standing to prosecute estate claims on their behalf (the “Debtor Releasors”) shall be deemed to forever release RVI and DSW and their officers, directorsemployees, trustees, agents, attorneys and employees assigns (individually a "Releasee" and the ▇▇▇▇▇▇▇ Releasees (as hereinafter defined) (collectively, the “RVI/DSW "Releasees") from any and all claims Claims (as defined in Section 1.2) arising out of or in any way related to the Note and causes of action of the Plan and the Amended Term Sheet as they relate to the Note (except as provided below) and waives, releases and covenants not to sue AMASYS o▇ ▇ny other Releasee with respect to matters which were or might have been alleged in any nature whatsoeverClaim arising from or in any way related to the Note, includingand the Plan and the Amended Term Sheet as they relate to the Note. The PBGC expressly acknowledges that this release is intended to include, without limitation, any and all claims pursuant to Chapter 5 of the Bankruptcy Code, that the Debtor Releasors may have against the RVI/DSW Releasees; (ii) the RVI/DSW Releasees shall be deemed to forever release the Debtor Releasors from any and all claims and causes of action that the RVI/DSW Releasees may have against the Debtor Releasors, except with respect to those claims allowed herein; and (iii) to the extent approved by the Bankruptcy Court in the context of a Chapter 11 plan of liquidation or reorganization to be proposed in the Debtors’ Chapter 11 cases, to the extent a creditor votes in favor of any plan of liquidation or reorganization proposed by the Debtors and/or the Committee (the “Plan”), or to the fullest extent permitted by law, such creditor shall be deemed to forever release the RVI/DSW Releasees from any and all claims and causes of action that such creditor may have against the RVI/DSW Releasees Claims related to the prepetition and postpetition conduct of Note, the Debtors’ business Plan and the Debtors’ Chapter 11 cases; providedAmended Term Sheet as they relate to the Note which have arisen, howeverof which PBGC knows or does not know, should have known or has reason to know or suspect to exist in its favor at the time of execution hereof and that this Agreement contemplates the foregoing releases shall not limit the rights extinguishing of any party such Claims, except any claims to enforce the terms of this Agreement. Approval . 4.2 For and in consideration of the release provided in paragraph 9(iii) of this Agreement shall not serve as a condition precedent to the effectiveness cancellation of the RVI/DSW Settlement, provided that the Debtors Note and the Committee shall cooperate in good faith other agreements of PBGC set forth herein, AMASYS hereby irrevocably releases and use their best efforts to obtain such approval. The releases provided under this paragraph 9 shall apply to all rights arising from or pursuant to Chapter 5 of the Bankruptcy Code; for the avoidance of doubt, claims against RVI and/or DSW, including under Chapter 5 of the Bankruptcy Code, shall not be used to offset RVI Claims and/or DSW Claims. As used in this Agreement, the term “▇▇▇▇▇▇▇ Releasees” refers to FB II Acquisition Corp., forever discharges PBGC and its subsidiaries and other affiliates (excluding the Debtors and any of their subsidiaries which may from time to time exist) and their respective stockholders, directors, managers, officers, employees, trustees, agents, attorneys and representatives assigns (excluding individually a "Releasee" and collectively the "Releasees") from any and all Claims (as defined in Section 1.2) arising out of, or in any way related to, the Note and the Plan and the Amended Term Sheet as they relate to the Note (except as provided below) and waives, releases, and covenants not to sue PBGC or any ot▇▇▇ Releasee with respect to matters which were or might have been alleged in any Claim arising from or in any way related to the Note and the Plan and the Amended Term Sheet as they relate to the Note. AMASYS expressly acknowledges that this release is intended to include in its effect, without limitation, all Claims related to the Note and the Plan and the Amended Term Sheet as they relate to the Note which have arisen of which AMASYS knows or does not know, should have known or has reason to know or suspect to exist in its favor at the time of execution hereof and that this Agreement contemplates the extinguishing of any such persons Claims, except any Claims to enforce the terms of this Agreement. 4.3 Other than any conversion rights it may have with respect to the Debtors PBGC Shares, PBGC hereby waives any and all other options to purchase common stock in AMASYS. AMASYS represents that it has no knowledge of any of their subsidiaries which may from time to time exist)such purchase options held or exercisable by PBGC and acknowledges that PBGC has relied on such representation.

Appears in 1 contract

Sources: Payment and Release Agreement (Amasys Corp)

Mutual Releases. In consideration of the covenants contained in this Agreement, including, without limitation, RVI’s agreements with respect to the Pension Plan pursuant to paragraph 2 of this Agreement, and other good and valuable consideration (receipt and sufficiency of which is hereby acknowledged) on On the Effective Date: (i) , Woodlands, on the Debtors, their estates, the Committeeone hand, and any party that may acquire standing to prosecute estate claims on their behalf (the “Debtor Releasors”) shall be deemed to forever release RVI and DSW and their officers, directors, agents, attorneys and employees and each of the ▇▇▇▇▇▇ Entities and the Other ▇▇▇▇▇▇ Releasees (Debtors, on the other hand, shall execute and deliver mutual releases in the forms for Woodlands and LBHI attached hereto as hereinafter defined) (collectivelyExhibits B and C, the “RVI/DSW Releasees”) from any respectively, whereby such Party will release and all claims waive or cause to be released and causes waived on its behalf, and on behalf of action of any nature whatsoever, including, without limitationits related parties identified in such form, any and all claims pursuant to Chapter 5 claims, demands, liabilities and causes of the Bankruptcy Codeaction, both in law and in equity, that the Debtor Releasors it has, had or claims to have or have had or hereafter can, may or shall have against the RVI/DSW Releasees; other and its related parties (iias identified in such form of release) from the RVI/DSW Releasees shall be deemed beginning of time and arising out of actions, omissions or events occurring, or circumstances existing, on or prior to forever release the Debtor Releasors from any and all claims and causes of action that the RVI/DSW Releasees may have against the Debtor ReleasorsMarch 31, 2010, except with respect to those claims allowed herein; and (iii) to the extent approved by the Bankruptcy Court as otherwise provided in the context such form of a Chapter 11 plan of liquidation or reorganization to be proposed in the Debtors’ Chapter 11 cases, to the extent a creditor votes in favor of any plan of liquidation or reorganization proposed by the Debtors and/or the Committee (the “Plan”), or to the fullest extent permitted by law, such creditor shall be deemed to forever release the RVI/DSW Releasees from any and all claims and causes of action that such creditor may have against the RVI/DSW Releasees related to the prepetition and postpetition conduct of the Debtors’ business and the Debtors’ Chapter 11 casesrelease; provided, however, that nothing in any such release shall release the foregoing releases shall not limit the rights of any party to enforce the terms of this Agreement. Approval of the release provided in paragraph 9(iiiParties from their obligations under (a) of this Agreement shall not serve as a condition precedent to the effectiveness of the RVI/DSW Settlement, provided that the Debtors and the Committee shall cooperate in good faith and use their best efforts to obtain such approval. The releases provided under this paragraph 9 shall apply to all rights arising from or pursuant to Chapter 5 of the Bankruptcy Code; for the avoidance of doubt, claims against RVI and/or DSW, including under Chapter 5 of the Bankruptcy Code, shall not be used to offset RVI Claims and/or DSW Claims. As used in this Agreement, (b) under any agreements, instruments or related documents executed pursuant to this Agreement or otherwise in accordance with or necessary to implement the term “▇Settlement or any of the transactions or agreements provided for or contemplated herein or (c) the other agreements between or among the Parties in effect and still to be performed at the Effective Date identified in the form of release. The Parties hereby acknowledge and agree that, except as provided in Section 5 above, this Agreement does not, and is not intended to, resolve any of the Other Loan Funding Commitment Claims, Pending Litigation Claims, or Indemnification Claims to the extent that any such claim on the date hereof is unliquidated and each of the Parties reserves all of their rights in this regard, including the right to make claims and/or reach agreements to settle all such matters at a later date. In addition, the Parties hereby acknowledge and agree that this Agreement does not, and is not intended to address or resolve (i) any indemnification or contribution obligations of LBHI or any of its subsidiaries to Woodlands or any of its subsidiaries, or any other intercompany claims, in each case not yet known to Woodlands as of the date hereof, or any indemnification or contribution obligations of Woodlands to LBHI and its subsidiaries, or any other intercompany claims, in each case not yet known to LBHI or its subsidiaries as of the date hereof; (ii) any claim that Woodlands or its respective current or former directors, officers and employees have under (A) any insurance policies that are or were maintained by LBHI or (B) the bylaws or certificate of incorporation of LBHI or Bancorp; and (iii) any claim that Woodlands may have against LBHI under the guarantee issued by LBHI in favor of Woodlands with regard to an ISDA Master Agreement and related transactions involving ▇▇▇▇▇▇ Releasees” refers to FB II Acquisition Corp.Brothers Finance AG (all of such claims, its subsidiaries collectively, the “Unsettled Claims”), and other affiliates (excluding that each of the Debtors and any Parties hereby reserves all of their subsidiaries which may from time respective rights and remedies in respect of such matters, including the right to time exist) and their respective stockholdersmake claims and/or reach agreements to settle such claims or matters at a later date, directors, managers, officers, employees, agents, attorneys and representatives (excluding such persons subject to any applicable requirements of the Debtors and any of their subsidiaries which may from time to time exist)Bankruptcy Code.

Appears in 1 contract

Sources: Settlement Agreement (Lehman Brothers Holdings Inc)

Mutual Releases. In consideration (a) As a condition of the covenants contained in payments and benefits required under this Agreement, includingExecutive shall execute and deliver to Company on January 15, without limitation, RVI’s agreements 2005 a Release in the form attached hereto as Exhibit A. Executive acknowledges that he has consulted with respect legal counsel prior to the Pension Plan pursuant to paragraph 2 of signing this Agreement, and other good and valuable consideration (receipt and sufficiency that by virtue of the date on which the Release is hereby acknowledged) on the Effective Date: (i) the Debtors, their estatesrequired to be delivered he has at least twenty-one days to consider this Agreement, the CommitteeRelease, and any party their respective language, meaning, and effect. Executive acknowledges that may acquire standing his execution of the General Release is a precondition to prosecute estate claims on their behalf (his receiving benefits under the “Debtor Releasors”) Agreement. In the event that Executive executes the Release, he shall have eight days to revoke it. If Executive chooses to revoke the Release, he shall exercise such option by delivering written notice of the desire to so revoke in the manner set forth in the Release and in such event the Release shall be deemed to forever release RVI nullified and DSW and their officers, directors, agents, attorneys and employees and the ▇▇▇▇▇▇▇ Releasees (as hereinafter defined) (collectively, the “RVI/DSW Releasees”) from any and Company shall have all claims and causes legal rights for breach by Executive of action of any nature whatsoever, including, without limitation, any and all claims pursuant to Chapter 5 of the Bankruptcy Code, that the Debtor Releasors may have against the RVI/DSW Releasees; (ii) the RVI/DSW Releasees shall be deemed to forever release the Debtor Releasors from any and all claims and causes of action that the RVI/DSW Releasees may have against the Debtor Releasors, except with respect to those claims allowed herein; and (iii) to the extent approved by the Bankruptcy Court in the context of a Chapter 11 plan of liquidation or reorganization to be proposed in the Debtors’ Chapter 11 cases, to the extent a creditor votes in favor of any plan of liquidation or reorganization proposed by the Debtors and/or the Committee (the “Plan”), or to the fullest extent permitted by law, such creditor shall be deemed to forever release the RVI/DSW Releasees from any and all claims and causes of action that such creditor may have against the RVI/DSW Releasees related to the prepetition and postpetition conduct of the Debtors’ business and the Debtors’ Chapter 11 cases; provided, however, that the foregoing releases shall not limit the rights of any party to enforce the terms of this Agreement. Approval , including among others the right to withhold the payment otherwise due under Section 3.8. (b) Unless the Termination Date occurs due to a termination of Executive for Cause pursuant to Section 4.3 or a voluntary termination by Executive without "Good Reason" pursuant to Section 4.6, effective on the Termination Date the Company hereby releases Executive from any and all claims, causes of action, and/or liabilities of any kind or nature whatsoever, known or unknown, at law, in equity, or otherwise, that may have occurred at any time up to the date hereof, including, but not limited to, any and all possible claims arising from his employment relationship or during his employment with the Company or as a result of the parties' agreement to modify and end the employment relationship, and hereby agrees not to assert such claims or causes of action for monetary damages. This release provided in paragraph 9(iii) of this Agreement shall not serve is intended to be as a condition precedent to the effectiveness of the RVI/DSW Settlementcomplete and broad as may be permitted under law, provided that the Debtors and the Committee shall cooperate in good faith and use their best efforts to obtain such approval. The releases provided under this paragraph 9 shall apply to all rights arising from or pursuant to Chapter 5 of the Bankruptcy Code; for the avoidance of doubt, claims against RVI and/or DSW, including under Chapter 5 of the Bankruptcy Code, it shall not be used affected by the full or partial invalidity of any other provision of the Agreement. Notwithstanding the foregoing or anything else to offset RVI Claims and/or DSW Claims. As used the contrary in this Section 4.8(a), however, this release does not extend to (i) any breach of Executive's obligations under this Agreement, (ii) Executive's ongoing obligations under Section 5 hereof, and (iii) any defense and or claim by the term “▇▇▇▇▇▇▇ Releasees” refers Company relating to FB II Acquisition Corp.any right to indemnification, its subsidiaries and other affiliates (excluding the Debtors and any as an employee, officer or director of their subsidiaries which may from time to time exist) and their respective stockholders, directors, managers, officers, employees, agents, attorneys and representatives (excluding such persons Company under law or governing documents of the Debtors and any of their subsidiaries which may from time to time exist)Company, asserted by Executive.

Appears in 1 contract

Sources: Employment Agreement (Harris Interactive Inc)