Common use of Release Consideration Clause in Contracts

Release Consideration. At the Closing and subject to the terms and conditions set forth in this Agreement, in consideration of (i) the release provided by ▇▇▇▇ and other consideration provided by ▇▇▇▇ under this Agreement, (ii) the sale, transfer and conveyance of ▇▇▇▇’▇ interest in ZFC Royalty Partners and (iii) the assignment of all right, title and interest of ▇▇▇▇ in its Pollution Legal Liability Policy, effective as of March 1, 2005, by and between ▇▇▇▇ and AIG Environmental (and any predecessor policy relating thereto), the Purchaser shall, in addition to the assumption of the Assumed Liabilities, pay directly to ▇▇▇▇ $100,000 (the “Release Consideration”). The Release Consideration shall be payable at the Closing by wire transfer of immediately available funds made to the account of ▇▇▇▇ designated in writing by ▇▇▇▇ to Purchaser at least two Business Days prior to the Closing Date.