Common use of Parent Release Clause in Contracts

Parent Release. Parent (on its behalf and on behalf of its successors and assigns), hereby forever waives, releases, acquits and forever discharges each Acquired Company from any and all manner, whatsoever, of actions, suits, claims, damages, judgments, distributions, wages, interests, levies and executions, whether known or unknown, liquidated or unliquidated, fixed or contingent, direct or indirect, which Parent ever had, has or ever can, shall or may have or claim to have against any Acquired Company for, upon or by reason of any matter, act or thing occurring prior to the date of this Agreement, including, without limitation, Parent’s rights to any indemnification from Company pursuant to any Organizational Documents or otherwise.