Common use of Release of Lender Clause in Contracts

Release of Lender. Seller, Seller Principal and Seller Tenant, for themselves and for their agents, employees, representatives, officers, directors, general partners, limited partners, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employees, servants and attorneys (collectively, the “Seller Releasing Parties”) jointly and severally release and forever discharge Lender, PNC Bank, National Association, Midland Loan Services, a Division of PNC Bank, National Association, and their respective successors, assigns, partners, directors, officers, employees, agents, attorneys, administrators, trustees, subsidiaries, affiliates, beneficiaries, shareholders and representatives from all liabilities, obligations, costs, expenses, claims and damages, at law or in equity, known or unknown, which any of the Seller Releasing Parties may now or hereafter hold or claim to hold under common law or statutory right, arising in any manner out of the Property, the Loan, any of the Loan Documents or any of the documents, instruments or any other transactions relating thereto or the transactions contemplated thereby. Without limiting the generality of the foregoing, this release shall include the following matters: (a) all aspects of this Agreement and the Loan Documents, any negotiations, demands or requests with respect thereto, and (b) Lender’s exercise or attempts to exercise any of its rights under this Agreement, any of the Loan Documents, at law or in equity. The Seller Releasing Parties agree that this release is a full, final and complete release and that it may be pleaded as an absolute bar to any or all suit or suits pending or which may thereafter be filed or prosecuted by any of the Seller Releasing Parties, or anyone claiming by, through or under any of the Seller Releasing Parties. The Seller Releasing Parties agree that this release is binding upon each of them and their respective agents, employees, representatives, officers, directors, general partners, limited partners, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employees, servants and attorneys. Buyer, Buyer Principal and Buyer Tenant, for themselves and for their agents, employees, representatives, officers, directors, general partners, limited partners, managers, members, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employees, servants and attorneys (collectively, the “Buyer Releasing Parties”) jointly and severally release and forever discharge Lender, PNC Bank, National Association, Midland Loan Services, a Division of PNC Bank, National Association, and their respective successors, assigns, partners, directors, officers, employees, agents, attorneys, administrators, trustees, subsidiaries, affiliates, beneficiaries, shareholders and representatives from all liabilities, obligations, costs, expenses, claims and damages, at law or in equity, known or unknown, which arise out of any matters occurring prior to the Closing in connection with the transactions contemplated hereby. The Buyer Releasing Parties agree that this release is a full, final and complete release and that it may be pleaded as an absolute bar to any or all suit or suits pending or which may thereafter be filed or prosecuted by any of the Buyer Releasing Parties, or anyone claiming by, through or under any of the Buyer Releasing Parties. The Buyer Releasing Parties agree that this release is binding upon each of them and their respective agents, employees, representatives, officers, directors, general partners, limited partners, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employees, servants and attorneys.

Appears in 1 contract

Samples: Consent, Modification and Assumption Agreement With Release (Moody National REIT I, Inc.)

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Release of Lender. SellerBy execution of this Agreement, Seller Principal each Credit Party acknowledges and Seller Tenantconfirms that it does not have any offsets, for themselves defenses or claims against Agent and for Lenders, or any of their officers, agents, employeesdirectors or employees whether asserted or unasserted. To the extent that it may have such offsets, representativesdefenses or claims, officerseach Credit Party and its successors, directorsassigns, general partners, limited partners, joint shareholders, beneficiaries, trustees, administratorsparents, subsidiaries, affiliates, predecessors, employees, servants and attorneys (collectivelyagents, the “Seller Releasing Parties”) jointly and severally heirs, executors, as applicable, release and forever discharge LenderAgent and Lenders, PNC Banktheir subsidiaries, National Associationaffiliates, Midland Loan Services, a Division of PNC Bank, National Association, and their respective successors, assigns, partnersofficers, directors, officers, employees, agents, attorneys, administratorssuccessors and assigns, trusteesboth present and former (collectively the "Bank Affiliates" and, together with Agent and Lenders, the "Released Parties") of and from any and all manner of action and actions, cause and causes of action, suits, debts, controversies, damages, judgments, executions, claims and demands whatsoever, asserted or unasserted, in law or in equity which against the Released Parties they ever had, now have or which any of Credit Parties' successors, assigns, parents, subsidiaries, affiliates, beneficiariespredecessors, shareholders employees, agents, heirs, executors, as applicable, both present and representatives from all liabilitiesformer ever had or now has, obligationsupon or by reason of any manner, costscause, expensescauses or thing whatsoever, claims and damagesincluding, at law or in equity, known or unknown, which any of the Seller Releasing Parties may now or hereafter hold or claim to hold under common law or statutory right, arising in any manner out of the Property, the Loanwithout limitation, any of presently existing claim or defense whether or not presently suspected, contemplated or anticipated. Each Credit Party understands, acknowledges and agrees that the Loan Documents or any of the documents, instruments or any other transactions relating thereto or the transactions contemplated thereby. Without limiting the generality of the foregoing, this release shall include the following matters: (a) all aspects of this Agreement and the Loan Documents, any negotiations, demands or requests with respect thereto, and (b) Lender’s exercise or attempts to exercise any of its rights under this Agreement, any of the Loan Documents, at law or in equity. The Seller Releasing Parties agree that this release is a full, final and complete release and that it set forth above may be pleaded as a full and complete defense and may be used as a basis for an absolute bar to injunction against any or all action, suit or suits pending other proceeding which may be instituted, prosecuted or attempted in breach of the provisions of such release. Each Credit Party agrees that no fact, event, circumstance, evidence or transaction which could now be asserted or which may thereafter hereafter be filed discovered shall affect in any manner the final, absolute and unconditional nature of the release set forth above. If any Credit Party or prosecuted by any of the Seller Releasing Parties, or anyone claiming by, through or under any of the Seller Releasing Parties. The Seller Releasing Parties agree that this release is binding upon each of them and their respective agents, employees, representatives, officers, directors, general partners, limited partners, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employees, servants and attorneys. Buyer, Buyer Principal and Buyer Tenant, for themselves and for their agents, employees, representatives, officers, directors, general partners, limited partners, managers, members, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employees, servants and attorneys (collectively, the “Buyer Releasing Parties”) jointly and severally release and forever discharge Lender, PNC Bank, National Association, Midland Loan Services, a Division of PNC Bank, National Association, and their its respective successors, assigns, partnersand other legal representatives violates the foregoing covenant, directorssuch Credit Party, officersfor itself and its respective successors, employeesassigns and legal representatives, agentsagrees to pay, in addition to such other damages as any Released Party may sustain as a result of such violation, all attorneys, administrators, trustees, subsidiaries, affiliates, beneficiaries, shareholders ’ fees and representatives from all liabilities, obligations, costs, expenses, claims and damages, at law or in equity, known or unknown, which arise out of any matters occurring prior to the Closing in connection with the transactions contemplated hereby. The Buyer Releasing Parties agree that this release is a full, final and complete release and that it may be pleaded as an absolute bar to any or all suit or suits pending or which may thereafter be filed or prosecuted costs incurred by any Released Party as a result of the Buyer Releasing Parties, or anyone claiming by, through or under any of the Buyer Releasing Parties. The Buyer Releasing Parties agree that this release is binding upon each of them and their respective agents, employees, representatives, officers, directors, general partners, limited partners, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employees, servants and attorneyssuch violation.

Appears in 1 contract

Samples: Forbearance Agreement (TNP Strategic Retail Trust, Inc.)

Release of Lender. Subject to the last sentence of this paragraph, Seller, Seller Principal and Seller Tenant, for themselves itself and for their its agents, employees, representatives, officers, directors, general partners, limited partners, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employees, servants and attorneys (collectively, the “Seller Releasing Parties”) jointly and severally release and forever discharge Lender, PNC Bank, National Association, Lender and Midland Loan Services, a Division of PNC Bank, National AssociationInc., and their respective successors, assigns, partners, directors, officers, employees, agents, attorneys, administrators, trustees, subsidiaries, affiliates, beneficiaries, shareholders and representatives from all liabilities, obligations, costs, expenses, claims and damages, at law or in equity, known or unknown, which any of the Seller Releasing Parties may now or hereafter hold or claim to hold under common law or statutory right, arising in any manner out of the Property, the Loan, this Agreement, any of the Original Loan Documents or any of the documents, instruments or any other transactions relating thereto or the transactions contemplated thereby. Without limiting the generality of the foregoing, this release shall include the following matters: (a) all aspects of this Agreement and the Original Loan Documents, any negotiations, demands or requests with respect thereto, and (b) Lender’s exercise or attempts to exercise any of its rights under this Agreement, any of the Original Loan Documents, at law or in equity. The Seller Releasing Parties agree that this release is a full, final and complete release and that it may be pleaded as an absolute bar to any or all suit or suits pending or which may thereafter be filed or prosecuted by any of the Seller Releasing Parties, or anyone claiming by, through or under any of the Seller Releasing Parties. The Seller Releasing Parties agree that this release is binding upon each of them and their respective agents, employees, representatives, officers, directors, general partners, limited partners, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employees, servants and attorneys. BuyerThe foregoing to the contrary notwithstanding, nothing in this Agreement shall be deemed to release the Lender from its obligations to reimburse Seller for certain attorneys’ fees and costs as provided in Paragraph 4a of a certain Forbearance Agreement between Seller and Lender dated November 12, 2009, as the same has been increased as described in Paragraph 3 above. Buyer Principal and Buyer TenantPrincipal, for themselves and for their agents, employees, representatives, officers, directors, general partners, limited partners, managers, members, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employees, servants and attorneys (collectively, the “Buyer Releasing Parties”) jointly and severally release and forever discharge Lender, PNC Bank, National Association, Lender and Midland Loan Services, a Division of PNC Bank, National AssociationInc., and their respective successors, assigns, partners, directors, officers, employees, agents, attorneys, administrators, trustees, subsidiaries, affiliates, beneficiaries, shareholders and representatives (excluding the Receiver Parties) from all liabilities, obligations, costs, expenses, claims and damages, at law or in equity, known or unknown, which arise out of any matters occurring prior to the Closing in connection with the transactions contemplated hereby. The Buyer Releasing Parties agree that this release is a full, final and complete release and that it may be pleaded as an absolute bar to any or all suit or suits pending or which may thereafter be filed or prosecuted by any of the Buyer Releasing Parties, or anyone claiming by, through or under any of the Buyer Releasing Parties. The Buyer Releasing Parties agree that this release is binding upon each of them and their respective agents, employees, representatives, officers, directors, general partners, limited partners, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employees, servants and attorneys. Notwithstanding the foregoing release, the Buyer Releasing Parties shall not be barred from asserting any defenses or affirmative defenses in the event any of the parties released hereby initiate any proceedings against any of the Buyer Releasing Parties.

Appears in 1 contract

Samples: Consent, Assumption, and Modification Agreement With Release (Behringer Harvard Opportunity REIT II, Inc.)

Release of Lender. Seller and Seller, Seller 's Principal and Seller Tenant, for ----------------- themselves and for their agents, employees, representatives, officers, directors, general partners, limited partners, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employees, servants and attorneys (collectively, the "Seller Releasing Parties") jointly ------------------------ and severally release and forever discharge Lender, PNC Bank, National Association, Lender and Midland Loan Services, a Division of PNC Bank, National AssociationInc., and their respective successors, assigns, partners, directors, officers, employees, agents, attorneys, administrators, trustees, subsidiaries, affiliates, beneficiaries, shareholders and representatives from all liabilities, obligations, costs, expenses, claims and damages, at law or in equity, known or unknown, which any of the Seller Releasing Parties may now or hereafter hold or claim to hold under common law or statutory right, arising in any manner out of the Property, the Loan, any of the Loan Documents or any of the documents, instruments or any other transactions relating thereto or the transactions contemplated thereby. Without limiting the generality of the foregoing, this release shall include the following matters: (a) all aspects of this Agreement and the Loan Documents, any negotiations, demands or requests with respect thereto, and (b) Lender’s 's exercise or attempts to exercise any of its rights under this Agreement, any of the Loan Documents, at law or in equity. The Seller Releasing Parties agree that this release is a full, final and complete release and that it may be pleaded as an absolute bar to any or all suit or suits pending or which may thereafter be filed or prosecuted by any of the Seller Releasing Parties, or anyone claiming by, through or under any of the Seller Releasing Parties. The Seller Releasing Parties agree that this release is binding upon each of them and their respective agents, employees, representatives, officers, directors, general partners, limited partners, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employees, servants and attorneys. Buyer and Buyer, Buyer Principal and Buyer Tenant's Principal, for themselves and for their agents, employees, representatives, officers, directors, general partners, limited partners, managers, members, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employees, servants and attorneys (collectively, the "Buyer Releasing Parties") jointly and severally release and forever discharge Lender, PNC Bank, National Association, ----------------------- Lender and Midland Loan Services, a Division of PNC Bank, National AssociationInc., and their respective successors, assigns, partners, directors, officers, employees, agents, attorneys, administrators, trustees, subsidiaries, affiliates, beneficiaries, shareholders and representatives from all liabilities, obligations, costs, expenses, claims and damages, at law or in equity, known or unknown, which arise out of any matters occurring prior to the Closing in connection with the transactions contemplated hereby. The Buyer Releasing Parties agree that this release is a full, final and complete release and that it may be pleaded as an absolute bar to any or all suit or suits pending or which may thereafter be filed or prosecuted by any of the Buyer Releasing Parties, or anyone claiming by, through or under any of the Buyer Releasing Parties. The Buyer Releasing Parties agree that this release is binding upon each of them and their respective agents, employees, representatives, officers, directors, general partners, limited partners, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employees, servants and attorneys.

Appears in 1 contract

Samples: And Assumption Agreement (Alexander & Baldwin Inc)

Release of Lender. Seller, Each of Seller Principal and Seller TenantExisting Principal, for themselves itself and for their its agents, employees, representatives, officers, directors, general partners, limited partners, members, shareholders, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employeesservants, servants attorneys, successors and attorneys assigns (collectively, the “Seller Releasing Parties”) jointly and severally release and forever discharge Lender, PNC Bank, National Association, Midland Loan Services, a Division of PNC Bank, National Association, Lender and their respective its successors, assigns, partners, directors, officers, employees, agents, attorneys, administrators, trustees, subsidiaries, affiliates, beneficiaries, shareholders and representatives from all liabilities, obligations, costs, expenses, claims and damages, at law or in equity, known or unknown, which any of the Seller Releasing Parties may now or hereafter hold or claim to hold under common law law, statutory right or statutory rightotherwise, arising in any manner out of, or relating to, any matters of any kind or nature whatsoever occurring prior to the Closing in connection with the Property, the Loan, any of the Loan Documents or any of the documents, instruments or any other transactions relating thereto or the transactions contemplated therebythereby or hereby. Without limiting the generality of the foregoing, this release shall include the following matters: (a) all aspects of this Agreement and the Loan Documents, any negotiations, demands or requests with respect hereto or thereto, and (b) LenderXxxxxx’s exercise or attempts to exercise any of its rights under this Agreement, Agreement or any of the Loan Documents, at law or in equity, but excluding any claims or causes of action which Seller or Existing Principal may have in connection with Lender's failure to comply with the terms of this Agreement. The Seller Releasing Parties agree that this release is a full, final and complete release and that it may be pleaded as an absolute bar to any or all suit or suits pending or which may thereafter be filed or prosecuted by any of the Seller Releasing Parties, or anyone claiming by, through or under any of the Seller Releasing PartiesParties arising out of, or relating to, any matters of any kind or nature whatsoever occurring prior to the Closing in connection with the Property, the Loan, any of the Loan Documents, or any of the documents, instruments or any other transactions relating thereto or the transactions contemplated thereby or hereby; provided however that in no event shall any provision of this Paragraph 11 be considered a release of liability for Xxxxxx's failure to comply with the terms of this Agreement. The Seller Releasing Parties agree that this release is binding upon each of them and their respective agents, employees, representatives, officers, directors, general partners, limited partners, members, shareholders, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employees, servants and attorneys. Buyer, Each of Buyer Principal and Buyer TenantPrincipal, for themselves itself and for their its agents, employees, representatives, officers, directors, general partners, limited partners, managersmembers, membersshareholders, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employeesservants, servants attorneys, successors and attorneys assigns (collectively, the “Buyer Releasing Parties”) jointly and severally release and forever discharge Lender, PNC Bank, National Association, Midland Loan Services, a Division of PNC Bank, National Association, Lender and their respective its successors, assigns, partners, directors, officers, employees, agents, attorneys, administrators, trustees, subsidiaries, affiliates, beneficiaries, shareholders and representatives from all liabilities, obligations, costs, expenses, claims and damages, at law or in equity, known or unknown, which arise any of the Buyer Releasing Parties may now or hereafter hold or claim to hold under common law, statutory right or otherwise arising out of, or relating to, any matters of any matters kind or nature whatsoever occurring prior to the Closing in connection with the Loan, the Loan Documents, the Property, this Agreement or the transactions contemplated herebyhereby or thereby. The Buyer Releasing Parties agree that this release is a full, final and complete release and that it may be pleaded as an absolute bar to any or all suit or suits pending or which may thereafter be filed or prosecuted by any of the Buyer Releasing Parties, or anyone claiming by, through or under any of the Buyer Releasing PartiesParties arising out of, or relating to, any matters of any kind or nature whatsoever occurring prior to the Closing in connection with the Loan, the Loan Documents, the Property, this Agreement or the transactions contemplated hereby or thereby. The Buyer Releasing Parties agree that this release is binding upon each of them and their respective agents, employees, representatives, officers, directors, general partners, limited partners, members, shareholders, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employees, servants and attorneys.

Appears in 1 contract

Samples: Consent and Assumption Agreement

Release of Lender. Seller, Seller Principal and Seller Tenant, for themselves itself and for their its agents, employees, representatives, officers, directors, general partners, limited partners, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employees, servants and attorneys (collectively, the "Seller Releasing Parties") jointly and severally release and forever discharge Lender, PNC Bank, National Association, Lender and Midland Loan Services, a Division of PNC Bank, National AssociationInc., and their respective successors, assigns, partners, directors, officers, employees, agents, attorneys, administrators, trustees, subsidiaries, affiliates, beneficiaries, shareholders and representatives from all liabilities, obligations, costs, expenses, claims and damages, at law or in equity, known or unknown, which any of the Seller Releasing Parties may now or hereafter hold or claim to hold under common law or statutory right, arising in any manner out of the Property, the Loan, any of the Loan Documents or any of the documents, instruments or any other transactions relating thereto or the transactions contemplated thereby. Without limiting the generality of the foregoing, this release shall include the following matters: (a) all aspects of this Agreement and the Loan Documents, any negotiations, demands or requests with respect thereto, and (b) Lender’s 's exercise or attempts to exercise any of its rights under this Agreement, Agreement or any of the Loan Documents, at law or in equity. The Seller Releasing Parties agree that this release is a full, final and complete release and that it may be pleaded as an absolute bar to any or all suit or suits pending or which may thereafter be filed or prosecuted by any of the Seller Releasing Parties, or anyone claiming by, through or under any of the Seller Releasing Parties. The Seller Releasing Parties agree that this release is binding upon each of them and their respective agents, employees, representatives, officers, directors, general partners, limited partners, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employees, servants and attorneys. Buyer, Buyer Principal and Buyer TenantPrior Principals, for themselves and for their respective agents, employees, representatives, officers, directors, general partners, limited partners, managers, members, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employees, servants and attorneys (collectively, the “Buyer "Prior Principal Releasing Parties") jointly and severally release and forever discharge Lender, PNC Bank, National Association, Lender and Midland Loan Services, a Division of PNC Bank, National AssociationInc., and their respective successors, assigns, partners, directors, officers, employees, agents, attorneys, administrators, trustees, subsidiaries, affiliates, beneficiaries, shareholders and representatives from all liabilities, obligations, costs, expenses, claims and damages, at law or in equity, known or unknown, which arise out of any matters occurring prior to the Closing in connection with the transactions contemplated hereby. The Buyer Releasing Parties agree that this release is a full, final and complete release and that it may be pleaded as an absolute bar to any or all suit or suits pending or which may thereafter be filed or prosecuted by any of the Buyer Releasing Parties, or anyone claiming by, through or under any of the Buyer Releasing Parties. The Buyer Releasing Parties agree that this release is binding upon each of them and their respective agents, employees, representatives, officers, directors, general partners, limited partners, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employees, servants and attorneys.,

Appears in 1 contract

Samples: And Assumption Agreement (Cedar Shopping Centers Inc)

Release of Lender. SellerEach of Borrower, Seller Principal Old Guarantor and Seller TenantNew Guarantor, for themselves itself and for their its agents, employees, representatives, officers, directors, general partners, limited partners, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employees, servants and attorneys (collectively, the “Seller "Releasing Parties") jointly and severally release and forever discharge Lender, PNC Bank, National Association, and Midland Loan Services, a Division division of PNC Bank, National Association, and their respective successors, assigns, partners, directors, officers, employees, agents, attorneys, administrators, trustees, subsidiaries, affiliates, beneficiaries, shareholders and representatives from all liabilities, obligations, costs, expenses, claims and damages, at law or in equity, known or unknown, which any of the Seller Releasing Parties may now or hereafter hold or claim to hold under common law or statutory right, arising in any manner out of the Property, the Loan, any of the Loan Documents or any of the documents, instruments or any other transactions relating thereto or the transactions contemplated thereby, in each case solely to the extent arising prior to the date hereof. Without limiting the generality of the foregoing, this release shall include the following matters: (a) all aspects of this Agreement and the Loan Documents, any negotiations, demands or requests with respect thereto, and (b) Lender’s 's exercise or attempts to exercise any of its rights under this Agreement, any of the Loan Documents, at law or in equity. The Seller Releasing Parties agree that this release is a full, final and complete release and that it may be pleaded as an absolute bar to any or all suit or suits pending or which may thereafter be filed or prosecuted by any of the Seller Releasing Parties, or anyone claiming by, through or under any of the Seller Releasing Parties. The Seller Releasing Parties agree that this release is binding upon each of them and their respective agents, employees, representatives, officers, directors, general partners, limited partners, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employees, servants and attorneys. Buyer, Buyer Principal and Buyer Tenant, for themselves and for their agents, employees, representatives, officers, directors, general partners, limited partners, managers, members, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employees, servants and attorneys (collectively, the “Buyer Releasing Parties”) jointly and severally release and forever discharge Lender, PNC Bank, National Association, Midland Loan Services, a Division of PNC Bank, National Association, and their respective successors, assigns, partners, directors, officers, employees, agents, attorneys, administrators, trustees, subsidiaries, affiliates, beneficiaries, shareholders and representatives from all liabilities, obligations, costs, expenses, claims and damages, at law or in equity, known or unknown, which arise out of any matters occurring prior to the Closing in connection with the transactions contemplated hereby. The Buyer Releasing Parties agree that this release is a full, final and complete release and that it may be pleaded as an absolute bar to any or all suit or suits pending or which may thereafter be filed or prosecuted by any of the Buyer Releasing Parties, or anyone claiming by, through or under any of the Buyer Releasing Parties. The Buyer Releasing Parties agree that this release is binding upon each of them and their respective agents, employees, representatives, officers, directors, general partners, limited partners, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employees, servants and attorneys.

Appears in 1 contract

Samples: Consent Agreement (KBS Real Estate Investment Trust, Inc.)

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Release of Lender. SellerBorrower hereby releases, Seller Principal waives and Seller Tenantforever relinquishes all claims, for themselves counterclaims, demands, obligations, liabilities and for their agentscauses of action of whatever kind or nature, employeeswhether known or unknown, representativesincluding any so-called “lender liability” claims or defenses which it has, may have, or might assert now or in the future against the Lender and/or its affiliates, predecessors in interest, participants, officers, directors, general partners, limited partners, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employees, servants and attorneys (collectively, the “Seller Releasing Parties”) jointly and severally release and forever discharge Lender, PNC Bank, National Association, Midland Loan Services, a Division of PNC Bank, National Association, and their respective successors, assigns, partners, directors, officers, employees, agents, attorneys, administratorsaccountants, trusteesconsultants, subsidiariessuccessors or assigns (individually, affiliatesa “Releasee” and collectively, beneficiariesthe “Releasees”), shareholders and representatives from all liabilitiesdirectly or indirectly, obligationsarising out of, costsbased upon, expenses, claims and damages, at law or in equityany manner connected with (i) any transaction, event circumstance, action, omission, failure to act or occurrence of any sort or type, whether known or unknown, which any of occurred, existed, or was taken or permitted prior to the Seller Releasing Parties may now or hereafter hold or claim to hold under common law or statutory right, arising in any manner out of the Property, the Loan, any of the Loan Documents or any of the documents, instruments or any other transactions relating thereto or the transactions contemplated thereby. Without limiting the generality of the foregoing, this release shall include the following matters: (a) all aspects execution of this Agreement and Amendment with respect to the Obligations, the Loan Documents, or the administration thereof (ii) any discussions, commitments, negotiations, demands conversations or requests communications, whether orally or evidenced by a writing of any sort prior to the execution of this Amendment with respect theretoto the Obligations, and the collateral, or the general business operations of the Borrower, or (biii) Lender’s exercise any thing or attempts matter related to exercise any of its rights under this Agreement, any of the Loan Documents, at law or in equity. The Seller Releasing Parties agree that this release is a full, final and complete release and that it may be pleaded as an absolute bar to any or all suit or suits pending or which may thereafter be filed or prosecuted by any of the Seller Releasing Parties, or anyone claiming by, through or under any of the Seller Releasing Parties. The Seller Releasing Parties agree that this release is binding upon each of them and their respective agents, employees, representatives, officers, directors, general partners, limited partners, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employees, servants and attorneys. Buyer, Buyer Principal and Buyer Tenant, for themselves and for their agents, employees, representatives, officers, directors, general partners, limited partners, managers, members, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employees, servants and attorneys (collectively, the “Buyer Releasing Parties”) jointly and severally release and forever discharge Lender, PNC Bank, National Association, Midland Loan Services, a Division of PNC Bank, National Association, and their respective successors, assigns, partners, directors, officers, employees, agents, attorneys, administrators, trustees, subsidiaries, affiliates, beneficiaries, shareholders and representatives from all liabilities, obligations, costs, expenses, claims and damages, at law or in equity, known or unknown, which arise out of any matters occurring foregoing prior to the Closing in connection with the transactions contemplated herebyexecution of this Amendment. The Buyer Releasing Parties agree Borrower acknowledges and agrees that the inclusion of this release is paragraph in this Amendment and the execution of this Amendment by the Lender do not constitute an acknowledgment or admission by the Lender of liability for any matter, or a full, final and complete release and that it precedent upon which any liability may be pleaded as an absolute bar to asserted. If the Borrower asserts or commences any claim, counter-claim, demand, obligation, liability or all suit or suits pending or which may thereafter be filed or prosecuted by any cause of action in derogation of the Buyer Releasing Parties, foregoing release or anyone claiming by, through or under any challenges the enforceability of the Buyer Releasing Partiesforegoing release (in each case, a “Violation”), then the Borrower agrees to pay in addition to such other damages as any Releasee may sustain as a result of such Violation, all reasonable attorneys’ fees and expenses, whether incurred by in-house or outside counsel, incurred by such Releasee as a result of such Violation. The Buyer Releasing Parties agree that this release is binding upon each of them and their respective agents, employees, representatives, officers, directors, general partners, limited partners, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employees, servants and attorneys.1462637.6

Appears in 1 contract

Samples: Teltronics Inc

Release of Lender. Seller, Each of Seller Principal and Seller TenantExisting Principal, for themselves itself and for their its agents, employees, representatives, officers, directors, general partners, limited partners, members, shareholders, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employeesservants, servants attorneys, successors and attorneys assigns (collectively, the “Seller Releasing Parties”) jointly and severally release and forever discharge Lender, PNC Bank, National Association, Midland Loan Services, a Division of PNC Bank, National Association, Lender and their respective its successors, assigns, partners, directors, officers, employees, agents, attorneys, administrators, trustees, subsidiaries, affiliates, beneficiaries, shareholders and representatives from all liabilities, obligations, costs, expenses, claims and damages, at law or in equity, known or unknown, which any of the Seller Releasing Parties may now or hereafter hold or claim to hold under common law law, statutory right or statutory rightotherwise, arising in any manner out of, or relating to, any matters of any kind or nature whatsoever occurring prior to the Closing in connection with the Property, the Loan, any of the Loan Documents or any of the documents, instruments or any other transactions relating thereto or the transactions contemplated therebythereby or hereby. Without limiting the generality of the foregoing, this release shall include the following matters: (a) all aspects of this Agreement and the Loan Documents, any negotiations, demands or requests with respect hereto or thereto, and (b) Lender’s exercise or attempts to exercise any of its rights under this Agreement, Agreement or any of the Loan Documents, at law or in equity, but excluding any claims or causes of action which Seller or Existing Principal may have in connection with Lender's failure to comply with the terms of this Agreement. The Seller Releasing Parties agree that this release is a full, final and complete release and that it may be pleaded as an absolute bar to any or all suit or suits pending or which may thereafter be filed or prosecuted by any of the Seller Releasing Parties, or anyone claiming by, through or under any of the Seller Releasing PartiesParties arising out of, or relating to, any matters of any kind or nature whatsoever occurring prior to the Closing in connection with the Property, the Loan, any of the Loan Documents, or any of the documents, instruments or any other transactions relating thereto or the transactions contemplated thereby or hereby; provided however that in no event shall any provision of this Paragraph 11 be considered a release of liability for Lender's failure to comply with the terms of this Agreement. The Seller Releasing Parties agree that this release is binding upon each of them and their respective agents, employees, representatives, officers, directors, general partners, limited partners, members, shareholders, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employees, servants and attorneys. Buyer, Each of Buyer Principal and Buyer TenantPrincipal, for themselves itself and for their its agents, employees, representatives, officers, directors, general partners, limited partners, managersmembers, membersshareholders, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employeesservants, servants attorneys, successors and attorneys assigns (collectively, the “Buyer Releasing Parties”) jointly and severally release and forever discharge Lender, PNC Bank, National Association, Midland Loan Services, a Division of PNC Bank, National Association, Lender and their respective its successors, assigns, partners, directors, officers, employees, agents, attorneys, administrators, trustees, subsidiaries, affiliates, beneficiaries, shareholders and representatives from all liabilities, obligations, costs, expenses, claims and damages, at law or in equity, known or unknown, which arise any of the Buyer Releasing Parties may now or hereafter hold or claim to hold under common law, statutory right or otherwise arising out of, or relating to, any matters of any matters kind or nature whatsoever occurring prior to the Closing in connection with the Loan, the Loan Documents, the Property, this Agreement or the transactions contemplated herebyhereby or thereby. The Buyer Releasing Parties agree that this release is a full, final and complete release and that it may be pleaded as an absolute bar to any or all suit or suits pending or which may thereafter be filed or prosecuted by any of the Buyer Releasing Parties, or anyone claiming by, through or under any of the Buyer Releasing PartiesParties arising out of, or relating to, any matters of any kind or nature whatsoever occurring prior to the Closing in connection with the Loan, the Loan Documents, the Property, this Agreement or the transactions contemplated hereby or thereby. The Buyer Releasing Parties agree that this release is binding upon each of them and their respective agents, employees, representatives, officers, directors, general partners, limited partners, members, shareholders, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employees, servants and attorneys.

Appears in 1 contract

Samples: Consent and Assumption Agreement (Inland Real Estate Income Trust, Inc.)

Release of Lender. SellerSubject to and in reliance on the Lender's representations contained in Paragraph 6, Seller Principal Assignor and Seller TenantAssignor Principal, for themselves and for their agents, employees, representatives, officers, directors, general partners, limited partners, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employees, servants and attorneys (collectively, the “Seller "Assignor Releasing Parties”) "), jointly and severally release and forever discharge Lender, PNC Bank, National Association, Lender and Midland Loan Services, a Division of PNC Bank, National AssociationInc., and their respective successors, assigns, partners, directors, officers, employees, agents, attorneys, administrators, trustees, subsidiaries, affiliates, beneficiaries, shareholders and representatives from all liabilities, obligations, costs, expenses, claims and damages, at law or in equity, known or unknown, which any of the Seller Assignor Releasing Parties may now or hereafter hold or claim to hold under common law or statutory right, arising in any manner out of the Property, the Loan, any of the Loan Documents or any of the documents, instruments or any other transactions relating thereto or the transactions contemplated thereby. Without limiting the generality of the foregoing, this release shall include the following matters: (a) all aspects of this Agreement and the Loan Documents, any negotiations, demands or requests with respect thereto, and (b) Lender’s 's exercise or attempts to exercise any of its rights under this Agreement, any of the Loan Documents, at law or in equity. The Seller Subject to the qualifications set forth in this Paragraph 10, the Assignor Releasing Parties agree that this release is a full, final and complete release and that it may be pleaded as an absolute bar to any or all suit or suits pending or which may thereafter be filed or prosecuted by any of the Seller Assignor Releasing Parties, or anyone claiming by, through or under any of the Seller Assignor Releasing Parties. The Seller Assignor Releasing Parties agree that this release is binding upon each of them and their respective agents, employees, representatives, officers, directors, general partners, limited partners, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employees, servants and attorneys. BuyerSubject to and in reliance on the Lender's representations contained in Paragraph 6, Buyer Principal Assignee and Buyer TenantAssignee Principal, for themselves and for their agents, employees, representatives, officers, directors, general partners, limited partners, managers, members, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employees, servants and attorneys (collectively, the “Buyer "Assignee Releasing Parties”) "), jointly and severally release and forever discharge Lender, PNC Bank, National Association, Lender and Midland Loan Services, a Division of PNC Bank, National AssociationInc., and their respective successors, assigns, partners, directors, officers, employees, agents, attorneys, administrators, trustees, subsidiaries, affiliates, beneficiaries, shareholders and representatives from all liabilities, obligations, costs, expenses, claims and damages, at law or in equity, known or unknown, which arise out of any matters occurring occuring prior to the Closing in connection with the transactions contemplated hereby. The Buyer Assignee Releasing Parties agree that this release is a full, final and complete release and that it may be pleaded as an absolute bar to any or all suit or suits pending or which may thereafter be filed or prosecuted by any of the Buyer Assignee Releasing Parties, or anyone claiming by, through or under any of the Buyer Assignee Releasing Parties. The Buyer Subject to the qualifications set forth in this Paragraph 10 the Assignee Releasing Parties agree that this release is binding upon each of them and their respective agents, employees, representatives, officers, directors, general partners, limited partners, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employees, servants and attorneys. The releases of Lender contain in this Paragraph shall not apply to fraud, bad faith, willful misconduct or intentional misrepresentation by or of the Lender.

Appears in 1 contract

Samples: Assumption Agreement (Ramco Gershenson Properties Trust)

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