RELEASE BY TAG-IT Clause Samples

RELEASE BY TAG-IT. (a) Effective as of the Effective Date, Tag-It, on behalf of Tag-It and each of Tag-It's affiliates, subsidiaries, representatives, agents, successors-in-interest and assigns, hereby releases and forever discharges the Mexican Corporations and each Mexican Corporation's respective officers, directors, employees, agents, stockholders, controlling persons, representatives, affiliates, subsidiaries, successors-in-interest and assigns (individually, a "MEXICAN CORPORATION RELEASEE" and collectively, the "MEXICAN CORPORATION RELEASEES") from any and all causes of action, claims, actions, rights, judgments, attorneys' fees, obligations, contracts, damages, promissory notes, demands, accountings or liabilities of whatever kind and character, whether now known or unknown, suspected or unsuspected, both at law and in equity, which Tag-It or any of Tag-It's affiliates, subsidiaries, representatives, agents, successors-in-interest and assigns now has, have ever had or may hereafter have against the respective the Mexican Corporation Releasees arising contemporaneously with or prior to the Effective Date or on account of or arising out of any matter, cause or event occurring contemporaneously with or prior to the Closing Date; PROVIDED, HOWEVER, that nothing contained herein will operate to release any obligations of Grupo, Talon or any other party arising under the Purchase Agreement or any other agreement or instrument entered into in connection with the Purchase Agreement.