Common use of Release of outgoing Manager Clause in Contracts

Release of outgoing Manager. On retirement or removal and provided there has been payment to the Trustee of all sums due to it by the outgoing Manager under this Deed at that date, the outgoing Manager shall be released from all further obligations under this Deed but no release under this clause 16.7 shall extend to any existing or antecedent breach of contract on the part of the outgoing Manager or its officers, employees, attorneys, agents or delegates, sub-delegates, or sub-agents.