Common use of Release by Semtech Clause in Contracts

Release by Semtech. In consideration of the Settlement Payments, Semtech and each of its parents, subsidiaries, affiliates, predecessors, trustees, successors and assigns (the "Semtech Releasors"), do forever release and absolutely and forever discharge and covenant not to sue National Union and, with respect to claims relating to the Natio▇▇▇ Union Policies and any other insurance policies issued by National Union to Semtech, each of its past, present and future businesses, affiliates, parents, subsidiaries, joint venturers, assigns, trustees, owners, liquidators, principals, officers, directors, shareholders, agents, employees, independent contractors, suppliers, reinsurers, attorneys, and representatives, and each of them (collectively, the "National Union Releasees"), of and from any and all liability, claims, defenses, causes of action, obligations, duties, penalties, attorneys' fees, costs, damages, injuries, or liabilities of any nature whatsoever, whether based on contract, tort, statute or other legal or equitable theory of recovery, whether contingent or liquidated, which the Semtech Releasors have relating to or arising out of the Insurance Claim or the Coverage Action, including, without limitation, any such claims assigned to the Semtech Releasors by American Manufacturers Mutual Insurance Company ("AMM") or Lumbermens Mutual Casualty Company ("LMCC"), any such claims for insurance coverage under the National Union Policies, any such claims for breach of the National Union Policies, any such claims for breach of any implied covenant of good faith and fair dealing, and any such claims for bad faith and violations of the Unfair Practices Act (i.e., Insurance Code ss. 790, et seq.), arising from the Insurance Claim. Notwithstanding anything else in this Section, the Semtech Releasors are not releasing: (1) any reinsurer of any of the National Union Releasees in its capacity as an insurer of any of the Semtech Releasors; or (2) any of the National Union Releasees from any duties or obligations under this Agreement.

Release by Semtech. In consideration Upon Semtech’s receipt of the Settlement PaymentsPayment, and subject to the Court’s entry of the stipulated dismissal referenced in Section 3.1, Semtech and each of its parents, subsidiaries, affiliates, predecessors, trustees, successors and assigns (the "“Semtech Releasors"”), do forever release and absolutely and forever discharge and covenant not to sue National Union ▇▇▇ Royal and, with respect to claims relating to the Natio▇▇▇ Union Royal Policies and any other insurance policies issued by National Union Royal to Semtech, each of its past, present and future businesses, affiliates, parents, subsidiaries, joint venturers, assigns, trustees, owners, liquidators, principals, officers, directors, shareholders, agents, employees, independent contractors, suppliers, reinsurers, attorneys, and representatives, and each of them (collectively, the "National Union “Royal Releasees"”), of and from any and all liability, claims, defenses, causes of action, obligations, duties, penalties, attorneys' ’ fees, costs, damages, injuries, or liabilities of any nature whatsoever, whether based on contract, tort, statute or other legal or equitable theory of recovery, whether contingent or liquidated, which the Semtech Releasors have relating to or arising out of the Insurance Claim or the Coverage Action, including, without limitation, any such claims assigned to the Semtech Releasors by American Manufacturers Mutual Insurance Company ("“AMM"”) or Lumbermens Mutual Casualty Company ("“LMCC"”), any such claims for insurance coverage under the National Union Royal Policies, any such claims for breach of the National Union Royal Policies, any such claims for breach of any implied covenant of good faith and fair dealing, and any such claims for bad faith and violations of the Unfair Practices Act (i.e., Insurance Code ss. § 790, et seq.), arising from the Insurance Claim. Notwithstanding anything else in this Section, the Semtech Releasors are not releasing: (1) any other defendant in the Coverage Action; (2) any reinsurer of any of the National Union Royal Releasees in its capacity as an insurer of any of the Semtech Releasors; or (23) any of the National Union Royal Releasees from any duties or obligations under this Agreement.