Common use of Purchaser’s Release Clause in Contracts

Purchaser’s Release. In consideration of the making of this Agreement, the conveyance of the Properties to Purchaser, and the covenants of Seller to remediate and to indemnify Purchaser as provided in Paragraph 7.4 and 7.8 ("Seller's Obligations"), Purchaser agrees to accept the conveyance of the Properties in their present condition and, if Seller fulfills Seller's Obligations, to make no claim regarding the environmental condition of the Properties. Purchaser hereby releases Seller from all Claims (including Claims under the Comprehensive Environmental Response Compensation and Liability Act of 1980 as amended, (CERCLA) and the Resource Conservation and Recovery Act of 1976, as amended (RCRA) and other environmental laws) for injury, death, destruction, loss or damage to the person or property of Purchaser and its employees arising out (i) the environmental condition of the Properties and the improvements and the equipment on the Properties, and (ii) the existence of Covered Contamination on the Properties. This release does not include: (a) Seller's Obligations; and (b) Claims by third parties and Governmental Authorities relating to Covered Contamination on the Properties.