Common use of Parent Release Clause in Contracts

Parent Release. Effective as of the Closing, Parent fully and unconditionally releases, acquits and forever discharges American Plastics Company, Inc., New England Extrusion Inc. and all directors, officers, and employees of each (in their respective capacities as such) from any and all causes of actions, claims, obligations, demands, damages, costs, expenses, compensation or other relief, whether known or unknown, whether in law or equity, arising out of Parent’s ownership of Performance Packaging prior to the Closing.