Release. In consideration of the agreements of the Administrative Agent and the Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquits, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective officers, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns (collectively, the “Released Lender Parties”) from any and all claims, demands, causes of action, obligations, remedies, suits, damages and liabilities (collectively, the “Loan Party Claims”) arising out of or related to the Credit Agreement, the other Loan Documents, or the transactions contemplated therein, whether now known, suspected or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the Obligations.
Appears in 3 contracts
Sources: Credit Agreement (FXCM Inc.), Credit Agreement (FXCM Inc.), Credit Agreement (FXCM Inc.)
Release. In consideration of the agreements of the Administrative Agent and the Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each Each Loan Party hereby unconditionally and irrevocably remises, acquits, and fully releases and forever releases and discharges the Administrative Agent and Agents, the Lenders and all respective affiliates each of their parents, subsidiaries and subsidiaries affiliates, past or present, and each of the Administrative Agent them, as well as each of Agents’ and the Lenders’ directors, their respective officers, agents, servants, employees, agentsshareholders, representatives, attorneys, principalsadministrators, advisorsexecutors, directors heirs, assigns, predecessors and shareholderssuccessors in interest, and their respective heirsall other persons, legal representativesfirms or corporations with whom any of the former have been, successors are now, or may hereafter be affiliated, and assigns each of them (collectively, the “Released Lender PartiesReleasees”) ), from and against any and all claims, demands, liens, agreements, contracts, covenants, actions, suits, causes of actionaction in law or equity, obligations, remediescontroversies, suitsdebts, damages costs, expenses, damages, judgments, orders and liabilities of whatever kind or nature in law, equity or otherwise, whether known or unknown, fixed or contingent, suspected or unsuspected by any Loan Party, and whether concealed or hidden (collectively, the “Claims”), which any Loan Party Claims”) arising now owns or holds or has at any time heretofore owned or held, which are based upon or arise out of or related in connection with any matter, cause or thing existing at any time prior to the Credit date hereof or anything done, omitted or suffered to be done or omitted at any time prior to the date hereof in connection with the Financing Agreement, the other Loan Documents, Documents or this Amendment (collectively the transactions contemplated therein, whether now known, suspected or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the “Released Lender Parties which may have arisen at any time on or prior to the date of this AgreementMatters”). Each Loan Party covenants represents, warrants and agrees never to (that in executing and never to cause any other Loan Party to) commenceentering into this release, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based they are not relying and have not relied upon any of representation, promise or statement made by anyone which is not recited, contained or embodied in this Amendment or the Loan Party Claims which may have arisen at any time on or prior to the date of this AgreementDocuments. Each Loan Party has reviewed this release with the Loan Parties’ legal counsel, and understands and acknowledges the significance and consequence of this release and of the specific waiver thereof contained herein. Each Loan Party understands and expressly assumes the risk that any fact not recited, contained or embodied therein may turn out hereafter to be other than, different from, or contrary to the facts now known to any Loan Party or believed by any Loan Party to be true. Nevertheless, each Loan Party intends by this release to release fully, finally and forever all Released Matters and agrees that the Released Lender Parties have acted this release shall be effective in good faith all respects notwithstanding any such difference in negotiating facts, and entering into this Agreement and that the provisions hereof are shall not in breach be subject to termination, modification or violation rescission by reason of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth such difference in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the Obligationsfacts.
Appears in 3 contracts
Sources: Financing Agreement and Forbearance Agreement (Apex Global Brands Inc.), Financing Agreement (Cherokee Inc), Financing Agreement (Cherokee Inc)
Release. In consideration (a) As of the agreements Closing Date, Liberty Broadband, on its own behalf and on behalf of the Administrative Agent and the Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquits, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective officers, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representatives, its successors and assigns (collectivelyeach a “Liberty Releasing Person”), hereby releases and forever discharges each member of the SpinCo Group and their respective current, former and future officers, directors, managers, employees, stockholders, members, partners, representatives, advisors and agents (including each member of the SpinCo Group, each a “SpinCo Released Lender PartiesPerson”) from any and all claimsLiabilities whatsoever, demandsof every name and nature, causes both at law and in equity, known or unknown, suspected or unsuspected, accrued or unaccrued, which have been or could have been asserted against any SpinCo Released Person, which any Liberty Releasing Person has or ever had, which arise out of actionor in any way relate to events, obligationsfacts, remediescircumstances or actions occurring, suitsexisting or taken prior to the Closing or with respect to the Liberty Retained Assets, damages and liabilities (collectively, Liberty Retained Businesses or Liberty Retained Liabilities to the “Loan Party Claims”) extent arising out of or related in any way relate to events, facts, circumstances or actions occurring, existing or taken prior to the Credit Closing (the “Liberty Released Claims”); provided, that, the parties hereto acknowledge and agree that this Section 7.8(a) does not apply to, and shall not constitute a release of, any rights or obligations arising under this Agreement, the other Loan DocumentsTax Sharing Agreement, the Tax Receivables Agreement, the Restructuring Agreements, the LMC Agreements or the transactions contemplated therein, whether now known, suspected or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute Contract between or cause to be commenced or prosecuted against among any of the parties (or their Affiliates) hereto that is in effect following the Closing Date. Each Liberty Releasing Person hereby irrevocably covenants to refrain from, directly or indirectly, asserting or commencing any Action against any SpinCo Released Lender Parties any action or other proceeding Person based upon any matter purported to be released hereby. Liberty Broadband, on behalf of itself and the other Liberty Releasing Persons, further hereby waives the application of any provision of applicable Law, including California Civil Code Section 1542, that purports to limit the scope of a general release (Section 1542 of the Loan Party Claims which may California Civil Code provides: “A general release does not extend to claims that the creditor or releasing party does not know or suspect to exist in his or her favor at the time of executing the release and that, if known by him or her, would have arisen at any time materially affected his or her settlement with the debtor or released party.”). Liberty Broadband, on or prior to behalf of itself and the date of this Agreement. Each Loan Party other Liberty Releasing Persons, hereby acknowledges and agrees that if, after the Closing, it or any of its other Liberty Releasing Persons should make any claim or demand or commence or threaten to commence any Action against any SpinCo Released Lender Parties Person with respect to any Liberty Released Claim, this Section 7.8(a) may be raised as a complete bar to any such Action, and the applicable SpinCo Released Person may recover from Liberty Broadband or the other Liberty Releasing Persons all costs incurred in connection with such Action, including attorneys’ fees.
(b) As of the Closing Date, SpinCo, on its own behalf and on behalf of its successors and assigns (each a “SpinCo Releasing Person”), hereby releases and forever discharges each member of the Liberty Broadband Group and their respective current, former and future officers, directors, managers, employees, stockholders, members, partners, representatives, advisors and agents (including each member of the Liberty Broadband Group, each a “Liberty Released Person”) from any and all Liabilities whatsoever, of every name and nature, both at law and in equity, known or unknown, suspected or unsuspected, accrued or unaccrued, which have acted been or could have been asserted against any Liberty Released Person, which any SpinCo Releasing Person has or ever had, which arise out of or in good faith any way relate to events, facts, circumstances or actions occurring, existing or taken prior to the Closing or with respect to the SpinCo Assets, SpinCo Businesses or SpinCo Liabilities to the extent arising out of or in negotiating any way relate to events, facts, circumstances or actions occurring, existing or taken prior to the Closing (the “SpinCo Released Claims”); provided, that, the parties hereto acknowledge and entering into agree that this Agreement Section 7.8(b) does not apply to, and shall not constitute a release of, any rights or obligations arising under this Agreement, the Tax Sharing Agreement, the Tax Receivables Agreement, the Restructuring Agreements, the LMC Agreements or any other Contract between or among any of the parties (or their Affiliates) hereto that is in effect following the Closing Date. Each SpinCo Releasing Person hereby irrevocably covenants to refrain from, directly or indirectly, asserting or commencing any Action against any Liberty Released Person based upon any matter purported to be released hereby. SpinCo, on behalf of itself and the other SpinCo Releasing Persons, further hereby waives the application of any provision of applicable Law, including California Civil Code Section 1542, that purports to limit the scope of a general release (Section 1542 of the California Civil Code provides: “A general release does not extend to claims that the provisions hereof are creditor or releasing party does not know or suspect to exist in breach his or violation her favor at the time of executing the release and that, if known by him or her, would have materially affected his or her settlement with the debtor or released party.”). SpinCo, on behalf of itself and the other SpinCo Releasing Persons, hereby acknowledges and agrees that if, after the Closing, it or any duty of its other SpinCo Releasing Persons should make any claim or obligation, express demand or implied, of the commence or threaten to commence any Action against any Liberty Released Lender Parties Person with respect to any Loan Party. The agreements set forth in SpinCo Released Claim, this Paragraph 6 shall survive the termination or expiration of this Agreement Section 7.8(b) may be raised as a complete bar to any such Action, and the termination of applicable Liberty Released Person may recover from SpinCo or the Loan Documents and the repaymentother SpinCo Releasing Persons all costs incurred in connection with such Action, satisfaction or discharge of the Obligationsincluding attorneys’ fees.
Appears in 3 contracts
Sources: Separation and Distribution Agreement (GCI Liberty, Inc.), Separation and Distribution Agreement (Liberty Broadband Corp), Separation and Distribution Agreement (GCI Liberty, Inc.)
Release. In consideration (a) Purchaser on behalf of the agreements of the Administrative Agent itself and the Lenders contained herein its respective predecessors, successors, assigns and for other good Affiliates (“Purchaser Releasors”) hereby irrevocably and valuable considerationunconditionally: (a) forever discharges, the receipt waives, relieves and sufficiency of which is hereby acknowledgedreleases Oramed and its Affiliates, each Loan Party hereby unconditionally subsidiaries and irrevocably remises, acquits, its and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective predecessors, successors, assigns, Affiliates and present and former officers, employeesdirectors, agents, attorneys, principals, advisors, directors employees and shareholders, and their respective heirs, legal representatives, successors and assigns (collectively, the “Released Lender Parties”) representatives from any and all actions, suits, claims, demands, causes of action, obligationsdemands, remedies, suits, damages and obligations and/or liabilities (collectively, the “Loan Party Claims”) arising out ), whatsoever, of every name and nature, both at law and in equity, known or unknown, accrued or unaccrued that any Purchaser Releasor had, has or hereafter may have, which are related to or arise from the issuance, purchase, ownership, exercise or disposition or the terms or provisions of the Subject Warrants or the Warrant Shares of or related by Oramed (or any other agreement to which Oramed is a party relating to the Credit AgreementSubject Warrants, including the other Loan Documents, or Tranche A Note and the transactions contemplated therein, whether now known, suspected or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party covenants and SPA); (b) agrees never not to (and never to cause each Purchaser Releasor’s officers, directors, agents, employees and representatives not to), and hereby waives any other Loan Party right to) commence, voluntarily aid in commence any wayClaim relating to, prosecute challenging the validity of or cause seeking to be commenced enjoin the operation or prosecuted against any exercise of the Released Lender Parties Subject Warrants (or any action provision thereof); and (c) waives and relinquishes all rights and benefits under applicable law, including any state law or other proceeding based upon any common law principles limiting waivers of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees unknown claims; provided that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth nothing contained in this Paragraph 6 shall survive the termination or expiration of Section 7 will operate to release Oramed from its obligations under this Agreement and the termination Assignment Forms. This Section 7 is a material inducement to the entrance by Oramed into this Agreement. Purchaser hereby agrees to indemnify and hold harmless Oramed against any Claims to which Oramed may become subject to insofar as such Claims arise out of or are based upon any misrepresentation of Purchaser or Purchaser’s failure to perform any of its covenants or agreements contained in this Agreement.
(b) Effective solely upon the Final Warrant Closing, Oramed on behalf of itself and its respective predecessors, successors, assigns and Affiliates (“Oramed Releasors”) hereby irrevocably and unconditionally: (a) forever discharges, waives, relieves and releases Purchaser and its Affiliates, subsidiaries and its and their respective predecessors, successors, assigns, Affiliates and present and former officers, directors, agents, employees and representatives from any and all Claims, whatsoever, of every name and nature, both at law and in equity, known or unknown, accrued or unaccrued that any Oramed Releasor had, has or hereafter may have, which are related to or arise from the issuance, purchase, ownership, exercise or disposition or the terms or provisions of the Loan Documents Subject Warrants or the Warrant Shares of or by Purchaser (or any other agreement to which Purchaser is a party relating to the Subject Warrants, including the Tranche A Note and the repaymentSPA); (b) agrees not to (and to cause each Oramed Releasor’s officers, satisfaction directors, agents, employees and representatives not to), and hereby waives any right to, commence any Claim relating to, challenging the validity of or discharge seeking to enjoin the operation or exercise of the ObligationsSubject Warrants (or any provision thereof); and (c) waives and relinquishes all rights and benefits under applicable law, including any state law or any common law principles limiting waivers of unknown claims; provided that nothing contained in this Section 7 will operate to release Purchaser from its obligations under this Agreement. This Section 7 is a material inducement to the entrance by Purchaser into this Agreement.
Appears in 2 contracts
Sources: Option Agreement for the Repurchase of Warrants (Oramed Pharmaceuticals Inc.), Option Agreement for the Repurchase of Warrants (Scilex Holding Co)
Release. In consideration of (a) The Employee and anyone else claiming by or through the agreements of the Administrative Agent Employee agree not to sue ▇▇▇ further agree to release KPMG and the Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquits, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective officers, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns (collectively, the “Released Lender Parties”) from Parties with respect to any and all claims, whether currently known or unknown, that the Employee now has, has ever had, or may ever have, against KPMG or any of the other Released Parties arising from or related to the Employee's association with KPMG, compensation, benefits, other terms and conditions of association with KPMG, or the termination of such association, including, without limitation, any such claims that were or could have been asserted by the Employee or on the Employee's behalf: (x) in any federal, state, or local court, commission, or agency; (y) under any common law theory; or (z) under any employment, contract, tort, federal, state, or local law, regulation, ordinance, constitution or executive order. Notwithstanding the foregoing, nothing herein shall affect: (I) any rights to indemnification that the Employee may have under the KPMG Partnership Agreement, the KPMG Bylaws, or otherwise, or (II) any vested rights that the Employee may have under the Retirement Allowance Plan (as amended), under the Supplemental Retirement Allowance Plan (as amended), or under any other plan or policy providing retirement benefits to the Employee. The Employee represents and warrants that: the Employee is the sole owner of the actual or alleged claims, demands, rights, causes of action, obligationsand other matters that are released in Sections 3.4(a) and (b); the same have not been transferred or assigned or caused to be transferred or assigned to any other person, remediesfirm, suitscorporation or other legal entity; and the Employee has the full right and power to grant, damages execute, and liabilities deliver the releases, undertakings, and agreements contained in this Agreement.
(collectivelyb) In the event that the Employee is or has been associated with KPMG in the State of California, the “Loan Party Claims”) Employee has read and understands the following language contained in Section 1542 of the California Civil Code: A general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor. Having reviewed this provision, the Employee nevertheless hereby voluntarily waives any and all rights under this statutory provision and releases KPMG and each of the other Released Parties with respect to any and all unknown or unsuspected claims arising out of from or related to the Credit AgreementEmployee's association with KPMG, the compensation, benefits, other Loan Documentsterms and conditions of association with KPMG, or the transactions contemplated thereintermination of such association, whether now knownincluding, suspected without limitation, all such claims that were or claimedcould have been asserted by the Employee or on the Employee's behalf: (x) in any federal, whether arising state, or local court, commission, or agency; (y) under any common law theory; or (z) under any employment, contract, tort, federal, state or local law, in equity regulation, ordinance, constitution or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the Obligationsexecutive order.
Appears in 2 contracts
Sources: Member Agreement (KPMG Consulting Inc), Member Distribution Agreement (KPMG Consulting Inc)
Release. In consideration (a) Upon the XL Companies’ payment of the agreements of Commutation Amount to the Administrative Agent and the Lenders contained herein and for other good and valuable considerationSCA Companies, the receipt SCA Companies, on behalf of themselves and sufficiency of which is hereby acknowledgedtheir shareholders, each Loan Party hereby unconditionally parents, affiliates and irrevocably remises, acquitssubsidiaries, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective officers, directors and employees, agentshereby irrevocably and unconditionally releases and forever discharges the XL Companies, attorneystheir parents, principals, advisors, directors subsidiaries and shareholdersaffiliates, and their respective heirspredecessors, legal successors, assigns, officers, directors, agents, employees, shareholders, representatives, successors and assigns (collectively, the “Released Lender Parties”) attorneys from any and all claims, demandspresent and future actions, causes of action, suits, debts, liens, contracts, rights, agreements, obligations, remediespromises, liabilities, claims, counterclaims, demands, damages, controversies, losses, costs and expenses (including attorneys’ fees and costs actually incurred) of any kind, character, description or nature whatsoever, known or unknown to any or all of the Parties, suspected or unsuspected, reported or unreported, fixed or contingent, which the SCA Companies now have, own or hold or claim to have, own, or hold, or at any time heretofore had, owned, or held or claimed to have had, owned, or held, or may hereafter have, own, or hold or claim to have, own, or hold, arising out of conduct or matters occurring on, prior to or subsequent to the Effective Date, against the XL Companies, arising directly or indirectly out of, based upon, or in any way related to or in connection with the Adverse Development Cover, whether grounded in law or equity, or sounding in tort or contract or otherwise; provided, however, that the provisions of this Article II(a) shall not discharge obligations of the XL Companies, which have been undertaken or imposed by the express terms of this Agreement or the Master Transaction Agreement (including the Ancillary Agreements).
(b) Contemporaneous with the payment of the Commutation Amount to the SCA Companies, the XL Companies, on behalf of themselves and their shareholders, parents, affiliates and subsidiaries, and their respective officers, directors and employees, hereby irrevocably and unconditionally releases and forever discharges the SCA Companies, their shareholders, parents, subsidiaries and affiliates, and their respective predecessors, successors, assigns, officers, directors, agents, employees, shareholders, representatives, and attorneys from any and all present and future actions, causes of action, suits, damages debts, liens, contracts, rights, agreements, obligations, promises, liabilities, claims, counterclaims, demands, damages, controversies, losses, costs and liabilities expenses (collectivelyincluding attorneys’ fees and costs actually incurred) of any kind, character, description or nature whatsoever, known or unknown to any or all of the Parties, suspected or unsuspected, reported or unreported, fixed or contingent, which the XL Companies now have, own, hold or claim to have, own, or hold, or at any time heretofore had, owned, or held or claimed to have had, owned, or held, or may hereafter have, own, or hold or claim to have, own, or hold, arising out of conduct or matters occurring on, prior to or subsequent to the Effective Date, against the SCA Companies, arising directly or indirectly out of, based upon, or in any way related to or in connection with the Adverse Development Cover, whether grounded in law or equity or sounding in tort or contract or otherwise; provided, however, that the provisions of this Article II(b) shall not discharge obligations of the SCA Companies, which have been undertaken or imposed by the express terms of this Agreement or the Master Transaction Agreement (including the Ancillary Agreements).
(c) The Parties understand that it is possible that unknown losses or claims may exist, or that present or future losses or claims may be underestimated in amounts or severity. Furthermore, the “Loan Parties expressly accept and assume the risk that the factual or legal assumptions made by any Party Claims”in connection with this Agreement may be found hereafter to be different from the true facts or law, and the Parties agree that this Agreement shall be and shall remain in full force and effect notwithstanding such differences in facts or law. Each Party expressly takes all of the foregoing into account in determining the amount of consideration to be given and paid for the giving of this Agreement, and a portion of the said consideration, having been bargained for between the Parties with the knowledge of the possibility of such unknown losses and claims, is given in exchange for the full accord, satisfaction and discharge of all such losses and claims.
(d) Full payment of the Commutation Amount shall be in complete accord, satisfaction, settlement and commutation of any and all past, current and future liabilities and obligations that each Party owes or may owe to the other arising directly or indirectly out of or related to or in connection with the Credit AgreementAdverse Development Cover and that upon payment of the Commutation Amount, the other Loan Documents, Adverse Development Cover shall be terminated as of the Effective Date and no Party shall have any further obligation or the transactions contemplated therein, whether now known, suspected or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior liability to the date of this Agreement. Each Loan other Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of under the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the ObligationsAdverse Development Cover.
Appears in 2 contracts
Sources: Master Commutation, Release and Restructuring Agreement (Security Capital Assurance LTD), Master Commutation, Release and Restructuring Agreement (Xl Capital LTD)
Release. In consideration Effective as of the agreements Closing, each Contributor, the Manager, for itself and each of its Subsidiaries, and the REIT, for itself and each of its Subsidiaries (each individually, a "Releasing Party" and collectively, "Releasing Parties"), in each case, releases and forever discharges each Contributor, the Manager (including any officer or manager of the Administrative Agent Manager) and the Lenders contained herein REIT and for other good each of their respective Subsidiaries and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquitsAffiliates, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries each of the Administrative Agent and the Lenders, their respective officersindividual, employeesjoint or mutual, agentspast, attorneys, principals, advisors, directors present and shareholders, and their respective heirs, legal representativesfuture Representatives, successors and assigns (individually, a "Releasee" and collectively, the “Released Lender Parties”"Releasees") from any and all claims, demands, Legal Proceedings, causes of actionaction and Orders that any Releasing Party now has, has ever had or may hereafter have against the respective Releasees, and from any and all obligations, remediesContracts, suitsdebts, damages liabilities and liabilities obligations that any Releasee now has, has ever had or may hereafter have in favor of any Releasing Party, in each case of any nature (whether absolute or contingent, asserted or unasserted, known or unknown, primary or secondary, direct or indirect, and whether or not accrued) arising contemporaneously with or before the Closing or on account of or arising out of any matter, cause or event occurring contemporaneously with or before the Closing, including any rights to indemnification or reimbursement, whether pursuant to their respective certificate of incorporation or by-laws (or comparable documents), Contract or otherwise and whether or not relating to claims pending on, or asserted after, the Closing (in each case other than any obligations of a Releasee arising under this Agreement or under any Transaction Documents or as otherwise specifically provided in this Agreement or in any Transaction Documents) (collectively, the “Loan "Released Claims"); provided, that the foregoing release shall not cover, and the Released Claims shall not include, claims arising from the Non-Released Matters. "Non-Released Matters" shall mean rights of any Releasing Party Claims”(i) arising out of or related to the Credit under this Agreement, including, for the other Loan Documentsavoidance of doubt, under Article II, the Advisory Agreements or any documents or instruments executed in connection herewith and therewith, (ii) to accrued fees due, and reimbursements owed, under the Advisory Agreements and (iii) to claims, if any, against current or former employees of the Manager in respect of actions, or the transactions contemplated therein, whether now known, suspected or claimed, whether arising under common lawomissions to act, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or each case prior to the date Closing Date, that result in a claim for indemnity under the provisions of this the Management Agreement. Each Loan Effective as of the Closing, each Releasing Party hereby irrevocably covenants and agrees never to (and never to cause refrain from, directly or indirectly, asserting any other Loan Party to) commenceclaim or demand, voluntarily aid in any wayor commencing, prosecute instituting or cause causing to be commenced or prosecuted commenced, any Legal Proceeding of any kind against any of the Released Lender Parties any action or other proceeding Releasee, based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the ObligationsClaim.
Appears in 2 contracts
Sources: Contribution Agreement (CorEnergy Infrastructure Trust, Inc.), Contribution Agreement (CorEnergy Infrastructure Trust, Inc.)
Release. In consideration Effective at the Closing, Seller, for itself and its Affiliates and the respective heirs, executors, beneficiaries, administrators, successors and assigns of each of the agreements of the Administrative Agent foregoing (each, a “Releasor” and the Lenders contained herein and for other good and valuable considerationcollectively, the receipt “Releasors”), hereby irrevocably and sufficiency of which is hereby acknowledgedunconditionally release and forever discharge Purchaser, the Acquired Companies, each Loan Party hereby unconditionally and irrevocably remises, acquits, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective Affiliates and each of their respective and their respective Affiliates’ present and former officers, directors, managers, equityholders, members, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representativesRepresentatives, successors and assigns of each of the foregoing (collectively, the “Released Lender PartiesReleasees”) ), from any and all claims, suits, demands, causes of action, contracts, agreements, covenants, obligations, remediesdebts, suitscosts, damages expenses, attorney’s fees, and other liabilities of whatever kind or nature, in law or equity, by statute or otherwise, whether now known or unknown, vested or contingent or suspected or unsuspected, (“Claims”), which such Releasor now has, has ever had or may hereafter have against any of the Releasees arising out of any matter, cause or event occurring contemporaneously with or prior to the Closing relating to the Business or the Acquired Companies (collectively, the “Loan Party Released Claims”) arising out ). Each Releasor hereby irrevocably consents to refrain from, directly or indirectly, asserting any Released Claim or commencing, instituting or causing to be commenced any lawsuit of any kind against any Releasee based upon any matter released hereby. Notwithstanding the foregoing, nothing contained in this Section 7.9 will operate to waive or related to the Credit Agreement, the other Loan Documents, or the transactions contemplated thereinrelease any Claims, whether now knownknown or unknown, suspected or claimedunsuspected, matured or unmatured, whether arising under common law, at law or in equity or that any Releasor has under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause , or any other Loan Party to) commenceagreements, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action certificates or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on documents entered into in accordance with, or prior to the date of pursuant to, this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the Obligations.
Appears in 2 contracts
Sources: Securities Purchase Agreement (Communications Systems Inc), Securities Purchase Agreement (Lantronix Inc)
Release. In consideration of Each Loan Party hereby acknowledges and agrees that, through the agreements date hereof, each Lender, each of the Administrative Agent Agent, the Collateral Agent, the Blackstone Representative and the Lenders contained herein Ally Representative, has acted in good faith and for has conducted itself in a commercially reasonable manner in its relationships with such Loan Party in connection with the Existing Credit Agreement (as amended hereby), and the other good Loan Documents, and valuable consideration, each Loan Party hereby waives and releases any claims to the receipt and sufficiency of which is hereby acknowledgedcontrary with respect to the period through the date hereof to the maximum extent permitted by law, each Loan Party hereby unconditionally and irrevocably remisesreleases, acquitsacquits and forever discharges each Lender, the Administrative Agent, the Collateral Agent, the Blackstone Representative and the Ally Representative as well as their respective affiliates, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective officers, directors, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns (collectivelyassigns, the “Released Lender Parties”) both present and former, from any and all claims, demands, causes of action, obligations, remediesduties, suitsliabilities, damages (including special, punitive, indirect and/or consequential damages), expenses, claims of offset, acts, omissions, losses and/or defenses, known or unknown or accrued or not accrued as of the date hereof, with respect to (i) this Amendment and liabilities (collectively, the “Loan Party Claims”) arising out of or related to the Existing Credit Agreement, the other Loan Documents, or Documents and the transactions contemplated thereinhereby and thereby, whether now known(ii) each Lender’s and the Administrative Agent’s, suspected the Collateral Agent’s, the Blackstone Representative’s and the Ally Representative’s acts, statements, conduct, representations and omissions made in connection therewith, or claimed(iii) any fact, whether arising under common lawmatter, in equity transaction or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this Agreementevent relating thereto. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based hereby acknowledges that it has not relied upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation representation of any duty or obligationkind made by any Lender, express or impliedthe Administrative Agent, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive Collateral Agent, the termination or expiration of this Agreement Blackstone Representative and the termination of Ally Representative or any affiliate or agent thereof in making the Loan Documents and the repayment, satisfaction or discharge of the Obligationsforegoing release.
Appears in 2 contracts
Sources: Credit Agreement (KLDiscovery Inc.), Credit Agreement (KLDiscovery Inc.)
Release. In Each Credit Party hereby acknowledges and agrees that: (i) neither it nor any of its Subsidiaries has any claim or cause of action against the Agent or any Lender (or any of their respective Affiliates, officers, directors, employees, attorneys, consultants or agents in their capacities for the Agent or any Lender) in connection with the Loan Documents and (ii) the Agent and each Lender has heretofore properly performed and satisfied in a timely manner all of its obligations to the Credit Parties and their Subsidiaries under the Credit Agreement and the other Loan Documents that are required to have been performed on or prior to the date hereof. Notwithstanding the foregoing, the Agent and the Lenders wish (and the Credit Parties agree) to eliminate any possibility that any past conditions, acts, omissions, events or circumstances would impair or otherwise adversely affect any of the Agent's and the Lenders' rights, interests, security and/or remedies under the Credit Agreement and the other Loan Documents. Accordingly, for and in consideration of the agreements of the Administrative Agent contained in this Amendment and the Lenders contained herein and for other good and valuable consideration, the receipt each Credit Party (for itself and sufficiency of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquits, and fully and forever releases and discharges the Administrative Agent its Subsidiaries and the Lenders successors, assigns, heirs and all respective affiliates and subsidiaries representatives of each of the Administrative Agent and the Lenders, their respective officers, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns foregoing) (collectively, the “"Releasors") does hereby fully, finally, unconditionally and irrevocably release and forever discharge the Agent, each Lender and each of their respective Affiliates, officers, directors, employees, attorneys, consultants and agents in their capacities as the Agent or any Lender (collectively, the "Released Lender Parties”") from any and all debts, claims, obligations, damages, costs, attorneys' fees, suits, demands, liabilities, actions, proceedings and causes of action, obligations, remedies, suits, damages and liabilities (collectively, the “Loan Party Claims”) arising out of or related to the Credit Agreement, the other Loan Documents, or the transactions contemplated thereinin each case, whether now knownknown or unknown, suspected contingent or claimedfixed, direct or indirect, and of whatever nature or description, and whether arising in law or in equity, under common lawcontract, in equity tort, statute or under statuteotherwise, which any Loan Party ever Releasor has heretofore had or now has against the Released Lender Parties which or hereafter can, shall or may have arisen at against any time Released Party by reason of any act, omission or thing whatsoever done or omitted to be done on or prior to the date of Ninth Amendment Effective Date arising out of, connected with or related in any way to this Agreement. Each Loan Party covenants and agrees never to (and never to cause Amendment, the Credit Agreement or any other Loan Party to) commenceDocument, voluntarily aid in or any wayact, prosecute event or cause to be commenced transaction related or prosecuted against attendant thereto, or the agreements of the Agent or any Lender contained therein, or the possession, use, operation or control of any of the Released Lender Parties assets of any action Credit Party, or the making of any Loans or other proceeding based upon any advances, or the management of such Loans or advances or the Loan Party Claims which may have arisen at any time on or Collateral prior to the date of this AgreementNinth Amendment Effective Date. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the Obligations.Section 5
Appears in 2 contracts
Sources: Credit Agreement (Rent the Runway, Inc.), Credit Agreement (Rent the Runway, Inc.)
Release. In consideration (a) Upon the Reinsurer’s payment of the agreements of Commutation Amount to the Administrative Agent and the Lenders contained herein and for other good and valuable considerationCompany, the receipt Company, on behalf of itself and sufficiency of which is hereby acknowledgedits shareholders, each Loan Party hereby unconditionally parents, affiliates and irrevocably remises, acquitssubsidiaries, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective officers, directors, and employees, agentshereby irrevocably and unconditionally releases and forever discharges the Reinsurer, attorneysits parents, principals, advisors, directors subsidiaries and shareholdersaffiliates, and their respective heirspredecessors, legal successors, assigns, officers, directors, agents, employees, shareholders, representatives, successors and assigns (collectively, the “Released Lender Parties”) attorneys from any and all claims, demandspresent and future actions, causes of action, suits, debts, liens, contracts, rights, agreements, obligations, remediespromises, liabilities, claims, counterclaims, demands, damages, controversies, losses, costs and expenses (including attorneys’ fees and costs actually incurred) of any kind, character, description or nature whatsoever, known or unknown to either or both Parties, suspected or unsuspected, reported or unreported, fixed or contingent, which the Company now has, owns or holds or claims to have, own, or hold, or at any time heretofore had, owned, or held or claimed to have had, owned, or held, or may hereafter have, own, or hold or claim to have, own, or hold, arising out of conduct or matters occurring on, prior to or subsequent to the Effective Date, against the Reinsurer, arising directly or indirectly out of, based upon, or in any way related to or in connection with the Reinsurance Agreement and/or the individual risk cessions thereunder, whether grounded in law or equity, or sounding in tort or contract or otherwise; provided, however, that the provisions of this Article II(a) shall not discharge obligations of the Reinsurer, which have been undertaken or imposed by the express terms of this Agreement or the Master Transaction Agreement (including the Ancillary Agreements).
(b) Contemporaneous with the payment of the Commutation Amount to the Company, the Reinsurer, on behalf of itself and its shareholders, parents, affiliates and subsidiaries, and their respective officers, directors and employees, hereby irrevocably and unconditionally releases and forever discharges the Company, its shareholders, parents, subsidiaries and affiliates, and their respective predecessors, successors, assigns, officers, directors, agents, employees, shareholders, representatives, and attorneys from any and all present and future actions, causes of action, suits, damages debts, liens, contracts, rights, agreements, obligations, promises, liabilities, claims, counterclaims, demands, damages, controversies, losses, costs and liabilities expenses (collectivelyincluding attorneys’ fees and costs actually incurred) of any kind, character, description or nature whatsoever, known or unknown to either or both Parties, suspected or unsuspected, reported or unreported, fixed or contingent, which the Reinsurer now has, owns, holds or claims to have, own, or hold, or at any time heretofore had, owned, or held or claimed to have had, owned, or held, or may hereafter have, own, or hold or claim to have, own, or hold, arising out of conduct or matters occurring on, prior to or subsequent to the Effective Date, against the Company, arising directly or indirectly out of, based upon, or in any way related to or in connection with the Reinsurance Agreement and/or the individual risk cessions thereunder, whether grounded in law or equity or sounding in tort or contract or otherwise; provided, however, that the provisions of this Article II(b) shall not discharge obligations of the Company, which have been undertaken or imposed by the express terms of this Agreement or the Master Transaction Agreement (including the Ancillary Agreements).
(c) The Parties understand that it is possible that unknown losses or claims may exist, or that present or future losses or claims may be underestimated in amounts or severity. Furthermore, the “Loan Parties expressly accept and assume the risk that the factual or legal assumptions made by any Party Claims”in connection with this Agreement may be found hereafter to be different from the true facts or law, and the Parties agree that this Agreement shall be and shall remain in full force and effect notwithstanding such differences in facts or law. Each Party expressly takes all of the foregoing into account in determining the amount of consideration to be given and paid for the giving of this Agreement, and a portion of the said consideration, having been bargained for between the Parties with the knowledge of the possibility of such unknown losses and claims, is given in exchange for the full accord, satisfaction and discharge of all such losses and claims.
(d) Full payment of the Commutation Amount shall be in complete accord, satisfaction, settlement and commutation of any and all past, current and future liabilities and obligations that each Party owes or may owe to the other arising directly or indirectly out of or related to or in connection with the Credit AgreementReinsurance Agreement and/or the individual risk cessions thereunder and that upon payment of the Commutation Amount, the other Loan Documents, Reinsurance Agreement shall be terminated as of the Effective Date and neither Party shall have any further obligation or the transactions contemplated therein, whether now known, suspected or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior liability to the date of this Agreement. Each Loan other Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of under the Released Lender Parties any action or other proceeding based upon any of Reinsurance Agreement and/or the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the Obligationsindividual risk cessions thereunder.
Appears in 2 contracts
Sources: Master Commutation, Release and Restructuring Agreement (Security Capital Assurance LTD), Master Commutation, Release and Restructuring Agreement (Xl Capital LTD)
Release. In further consideration of the agreements Administrative Agent’s and Lenders’ execution of the Administrative Agent and the Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledgedthis Agreement, each Loan Credit Party, individually and on behalf of its successors (including, without limitation, any trustees acting on behalf of such Credit Party hereby unconditionally and irrevocably remisesany debtor-in-possession with respect to such Credit Party), acquitsassigns, subsidiaries and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective officers, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns Affiliates (collectively, the “Released Releasors”), hereby forever releases each Agent, each Issuing Bank and each Lender Partiesand their respective successors, assigns, parents, subsidiaries, Affiliates, officers, employees, directors, agents and attorneys (collectively, the “Releasees”) from any and all debts, claims, demands, liabilities, responsibilities, disputes, causes, damages, actions and causes of actionactions (whether at law or in equity) and obligations of every nature whatsoever, obligationswhether liquidated or unliquidated, remedieswhether known or unknown, suitswhether matured or unmatured, damages and liabilities whether fixed or contingent that such Releasor has or may have against the Releasees, or any of them, which arise from or relate to any actions which the Releasees, or any of them, have or may have taken or omitted to take in connection with the Credit Agreement or the other Credit Documents prior to the date hereof (collectivelyincluding, without limitation, with respect to the “Loan Party Claims”) arising out of or related to Obligations, any Collateral, the Credit Agreement, any other Credit Document) and any third parties liable in whole or in part for the Obligations. This provision shall survive and continue in full force and effect whether or not each Credit Party shall satisfy all other provisions of this Agreement or the other Loan Credit Documents, or the transactions contemplated therein, whether now known, suspected or claimed, whether arising under common law, including payment in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date full of this Agreementall Obligations. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commenceReleasor understands, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted foregoing release set forth above may be pleaded as a full and complete defense and may be used as a basis for an injunction against any action, suit or other proceeding which may be instituted, prosecuted or attempted in good faith in negotiating and entering into this Agreement and that breach of the provisions hereof are not in breach of such release. Each Credit Party hereby agrees to indemnify and hold the Releasees, or violation any of them, harmless with respect to any and all liabilities, obligations, losses, penalties, actions, judgments, suits, costs, expenses or disbursements of any duty kind or obligationnature whatsoever incurred by the Releasees, express or impliedany of them, whether direct, indirect or consequential, as a result of, arising from or relating to any proceeding by or on behalf of any Person, including, without limitation, officers, directors, agents, trustees, creditors, partners or shareholders of any Credit Party or any parent, subsidiary or Affiliate of any Credit Party, whether threatened or initiated, asserting any claim for legal or equitable remedy under any statutes, regulation, common law principle or otherwise arising from or in connection with any matter which is the subject of the Released Lender Parties to any Loan Party. The agreements release set forth in this Paragraph 6 Section 9. The foregoing indemnity shall survive the payment in full of the Obligations and the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the Obligationsother Credit Documents.
Appears in 2 contracts
Sources: Credit and Guaranty Agreement (Sailpoint Technologies Holdings, Inc.), Credit and Guaranty Agreement (Sailpoint Technologies Holdings, Inc.)
Release. In consideration of Each Seller and each other Seller Party executing the agreements of the Administrative Agent and the Lenders contained herein and Required Documentation for other good and valuable considerationitself, the receipt and sufficiency of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquitshimself or herself, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lendersits, their respective officers, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective his or her heirs, legal personal representatives, successors and assigns (collectively, the “Releasors”), hereby (a) forever fully and irrevocably releases and discharges Buyer, the Surviving Corporation, each of its respective Subsidiaries, and each of their respective predecessors, successors, direct or indirect subsidiaries and past and present stockholders, members, managers, directors, officers, employees, agents, and other representatives (collectively, the “Released Lender Parties”) from any and all actions, suits, claims, demands, causes of actiondebts, agreements, obligations, remediespromises, suitsjudgments, damages or liabilities of any kind whatsoever in law or equity and liabilities causes of action of every kind and nature, or otherwise (collectivelyincluding, the “Loan Party Claims”claims for damages, costs, expense, and attorneys’, brokers’ and accountants fees and expenses) arising out of or related to events, facts, conditions or circumstances existing or arising prior to the Credit AgreementClosing Date, which the other Loan DocumentsReleasors can, shall or may have against the transactions contemplated thereinReleased Parties, whether now knownknown or unknown, suspected or claimedunsuspected, whether arising under common lawunanticipated as well as anticipated (collectively, in equity the “Released Claims”), and (b) irrevocably agree to refrain from directly or under statute, which indirectly asserting any Loan Party ever had claim or now has against the Released Lender Parties which may have arisen at any time on demand or prior to the date of this Agreement. Each Loan Party covenants and agrees never to commencing (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause causing to be commenced or prosecuted commenced) any Proceeding against any of the Released Lender Parties any action or other proceeding Party based upon any of Released Claim. Notwithstanding the Loan Party Claims which may have arisen at any time on or prior to the date preceding sentence of this Agreement. Each Loan Party acknowledges Section 4.8, “Released Claims” does not include, and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are of this Section 4.8 shall not in breach release or violation otherwise diminish, (i) the obligations of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements Party set forth in this Paragraph 6 shall survive the termination or expiration arising under any provisions of this Agreement or the Ancillary Agreements, and the termination (ii) if such Seller Party is an employee of the Loan Documents Company or any of its Subsidiaries, in respect of (i) the current year’s accrued but unpaid compensation and (ii) such employee’s outstanding benefits under the repayment, satisfaction or discharge Employee Benefit Plans of the ObligationsCompany as of the Closing Date.
Appears in 2 contracts
Sources: Stock Purchase and Merger Agreement (Imation Corp), Stock Purchase and Merger Agreement (Imation Corp)
Release. In consideration exchange for the payment to Employee of the agreements consideration described in Paragraph 1 of the Administrative Agent this Agreement, Employee hereby fully, forever, irrevocably and the Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquits, and fully and forever releases and discharges the Administrative Agent Employer and the Lenders its Affiliates, including their past and all respective affiliates and subsidiaries of the Administrative Agent and the Lenderspresent officers, their respective officersdirectors, members, employees, agents, attorneys, principals, advisors, directors and shareholderstheir representatives, and their respective heirsall persons acting by, legal representativesthrough, successors and assigns under, or in concert with them (collectivelyhereinafter collectively referred to as “Releasees”), the “Released Lender Parties”) from any and all claimsclaims or damages which Employee has, demandshad, causes of actionor may have, obligations, remedies, suits, damages and liabilities (collectively, the “Loan Party Claims”) arising out of any act, event, or related omission that relates to, or arises out of, Employee’s employment with Employer or Employee’s separation therefrom, occurring from the beginning of time to the Credit Effective Date of this Agreement, the other Loan Documents, or the transactions contemplated therein, whether now knownknown or unknown, suspected and whether asserted or claimedunasserted. With full understanding of the rights afforded under these laws, whether Employee agrees not to file any charge, claim or other action against Employer and/or Releasees based upon any alleged violation of these laws and waives any right to assert a claim for relief available under these laws against Employer and/or Releasees including, but not limited to, back pay, front pay, attorneys’ fees, damages, reinstatement, or injunctive relief. Employer, on behalf of itself and its Affiliates, including their past and present officers, directors, members, employees, attorneys, their representatives, and all persons acting by, through, under, or in concert with them, hereby fully, forever, irrevocably and unconditionally releases and discharges Employee from any and all claims or damages which Employer has, had, or may have, arising under common lawout of any act, in equity event, or under statuteomission that relates to, which any Loan Party ever had or now has against arises out of, Employee’s employment with Employer or Employee’s separation therefrom, occurring from the Released Lender Parties which may have arisen at any beginning of time on or prior to the date Effective Date of this Agreement. Each Loan Party covenants , whether now known or unknown, and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute whether asserted or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the Obligationsunasserted.
Appears in 2 contracts
Sources: Separation Agreement, Separation Agreement (VEREIT Operating Partnership, L.P.)
Release. In consideration Each of the agreements Borrower and Guarantor, on behalf of the Administrative Agent itself and the Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency each of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquits, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective past, present and future subsidiaries, affiliates, divisions, directors, shareholders, officers, employees, agentspartners, attorneysmembers, principalsmanagers, representatives, advisors, directors servicers, attorneys and shareholders, agents and each of their respective heirs, transferees, executors, administrators, personal representatives, legal representatives, predecessors, successors and assigns (collectivelyincluding any successors by merger, the “Released Lender Parties”) from consolidation or acquisition of all or a substantial portion of any such Persons’ assets and all claimsbusiness), demands, causes of action, obligations, remedies, suits, damages and liabilities each in their capacity as such (collectively, the “Loan Releasing Parties”), hereby releases and forever discharges all Indemnified Parties from any and all Liabilities (including any Liabilities which any Releasing Party does not know or suspect to exist in its favor as of the date hereof, which if known by such Releasing Party might have affected such Releasing Party’s release of an Indemnified Party, and including any Servicing Claims”) arising out of that are or related to the Credit Agreementmay be based in whole or part on any act, the other Loan Documentsomission, transaction, event, or the transactions contemplated therein, whether now known, suspected other circumstance taking place or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time existing on or prior to the date hereof, which the Releasing Parties or any of this Agreement. Each Loan Party covenants and agrees never to (and never to cause them may have or which may hereafter be asserted or accrue against Indemnified Parties or any other Loan Party to) commenceof them, voluntarily aid resulting from or in any wayway relating to any act or omission done or committed by Indemnified Parties, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or them, prior to the date hereof in each case connection with or arising out of the Loan or the Loan Documents. The releases contained in this AgreementSection 9 apply to all Liabilities which the Releasing Parties or any of them have or which may hereafter arise against the Indemnified Parties or any of them in connection with or arising out of the Loan or the Loan Documents, as a result of acts or omissions occurring before the date hereof, whether or not known or suspected by the parties hereto. Each Loan Party of Borrower and Guarantor expressly acknowledges that although ordinarily a general release does not extend to claims which the releasing party does not know or suspect to exist in his, her or its favor, which if known by him, her or it must have materially affected his, her or its settlement with the party released, each of Borrower and agrees that the Released Lender Parties have acted Guarantor has carefully considered and taken into account in good faith in negotiating and entering determining to enter into this Agreement and that the provisions hereof are not in breach possible existence of such unknown losses or violation of any duty or obligation, express or implied, claims. Without limiting the generality of the Released Lender foregoing, each of Borrower and Guarantor, on behalf of itself and all of the Releasing Parties expressly waives any and all rights conferred upon it by any statute or rule of law which provides that a release does not extend to claims which the claimant does not know or suspect to exist in his, her or its favor at the time of executing the release, which if known by him, her or it must have materially affected his, her or its settlement with the released party, including the following provisions of California Civil Code Section 1542: “A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor.” This release by Releasing Parties shall constitute a complete defense to any Loan PartyLiability released pursuant to this release. The agreements set forth Nothing in this Paragraph 6 release shall be construed as (or shall be admissible in any legal action or proceeding as) an admission by any Co-Lender or any other Indemnified Party that any Liability exists which is within the scope of those hereby released. This Section 9 shall survive the termination repayment and performance of all obligations under the Loan Documents, and the reconveyance, foreclosure, or expiration other extinguishment of any related security instruments. For the avoidance of doubt, by agreeing to this Section 9, Releasing Parties represent and acknowledge that none of them may seek to use any of the Liabilities released herein as a set-off of any other obligation that may exist between any Releasing Party and Indemnified Party. In addition, Liabilities released herein shall include any Releasing Party’s right to contribution or any other similar demand that might otherwise exist (and the terms of this Agreement sentence shall control over any conflicting provision in any other Loan Document). In no event shall the provisions of this Section 9 be deemed to limit any other release of any Indemnified Parties under any other Loan Document and all such releases of any Indemnified Parties shall be read in the termination of the Loan Documents and the repayment, satisfaction or discharge of the Obligationsbroadest possible manner notwithstanding anything contained herein.
Appears in 2 contracts
Sources: Omnibus Amendment and Consent (Ashford Hospitality Trust Inc), Consent Agreement (Ashford Hospitality Trust Inc)
Release. In consideration (a) Effective immediately upon the full payment to Beneficiary, and receipt by the Owners, of the agreements Toshiba Obligation Amount, each of the Administrative Agent Owners on behalf of itself and the Lenders contained herein its present and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquits, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective officers, employees, former agents, attorneysAffiliates, principals, advisors, directors and shareholders, and their respective heirsstakeholders, legal representativespredecessors, subsidiaries, successors and assigns (collectively, the “Owner Releasing Parties”) hereby fully, finally and forever releases, acquits and discharges Toshiba, the Toshiba Affiliates, and any Toshiba Third Parties (but in no event including the WEC Debtors, any subsidiaries or any WEC Third Parties thereof (such parties collectively, the “Toshiba Released Lender Parties”)) from any and all manner of action, causes of action, claims, demands, lawsuits, attorneys’ fees and costs, losses, expenses, damages, right to equitable remedy if such breach gives rise to a right of payment, or liabilities of whatever kind and nature whatsoever, whether now known or unknown, asserted or unasserted, suspected or unsuspected, whether arising under federal, state, local, statutory, common, foreign or administrative Law, or any other Law, rule or regulation, whether fixed or contingent, accrued or unaccrued, liquidated or unliquidated, matured or unmatured, disputed or undisputed, at law or in equity, secured or unsecured that any of the Owner Releasing Parties heretofore had, or now or hereafter have, own or hold, or could assert directly or indirectly, against Toshiba in any forum, arising out of or related to (a) the EPC Agreement and any and all related documents, and (b) the Toshiba Guaranty; provided, however, that nothing in this Section 5.7(a) shall release Toshiba or any of the other Toshiba Released Parties from any obligation under any contract or agreement to which it is a party (other than the Toshiba Guaranty), including this Agreement (including under Section 2.5), any other contract in connection with Toshiba’s or any other Toshiba Released Party’s role as supplier to the Summer Facility, and any services agreements entered into by Toshiba and the Owners. For the avoidance of doubt, if a Third Party is both a Toshiba Third Party and a WEC Third Party, the release contained herein only pertains to such Third Party in its capacity as a Toshiba Third Party.
(b) Effective immediately upon the effectiveness of the release contemplated by Section 5.7(a), Toshiba, on behalf of itself and its present and former agents, Affiliates, principals, shareholders, stakeholders, predecessors, subsidiaries, successors and assigns, excluding the WEC Debtors and any subsidiaries thereof (collectively, the “Toshiba Releasing Parties”, together with the Owner Releasing Parties, the “Releasing Parties”) hereby fully, finally and forever releases, acquits and discharges each of the Owners and each of their respective agents, Affiliates, executives, employees, attorneys, advisors, accountants, auditors, representatives, associates, directors, officers, partners, principals, insurers, predecessors, subsidiaries, successors, estates, heirs, executors, trusts, trustees, administrators, licensees and assigns (collectively, the “Owner Released Parties”, together with the Toshiba Released Parties, the “Released Parties”) from any and all claims, demandsmanner of action, causes of action, obligationsclaims, remediesdemands, suitslawsuits, damages attorneys’ fees and costs, losses, expenses, damages, right to equitable remedy if such breach gives rise to a right of payment, or liabilities (collectivelyof whatever kind and nature whatsoever, whether now known or unknown, asserted or unasserted, suspected or unsuspected, whether arising under federal, state, local, statutory, common, foreign or administrative Law, or any other Law, rule or regulation, whether fixed or contingent, accrued or unaccrued, liquidated or unliquidated, matured or unmatured, disputed or undisputed, at law or in equity, secured or unsecured that any of the “Loan Party Claims”) Toshiba Releasing Parties heretofore had, or now or hereafter have, own or hold, or could assert directly or indirectly, against Toshiba in any forum, arising out of or related to (a) the Credit EPC Agreement and any and all related documents, and (b) the Toshiba Guaranty; provided however, that nothing in this Section 5.7(b) shall release any of the Owner Released Parties from any obligation under any other contract or agreement to which it is a party (other than the Toshiba Guaranty), including this Agreement, any other contract in connection with Toshiba’s or any other Toshiba Released Party’s role as supplier to the other Loan DocumentsSummer Facility, and any services agreements entered into by Toshiba and the Owners.
(c) The Releasing Parties are fully aware of the provisions of California Civil Code Section 1542, which provides as follows: Each of the Releasing Parties agrees to voluntarily waive the provisions of California Civil Code Section 1542 (or under any Law of any state or territory of the United States, or the transactions contemplated therein, whether now known, suspected or claimed, whether arising under principle of common law, in equity or under statutethe Law of any foreign country, which any Loan Party ever had that is similar, comparable or now has against equivalent to section 1542 of the Released Lender Parties which may have arisen at any time on or prior California Civil Code) with respect to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid claims released in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the Obligations.Section 5.7(a)
Appears in 2 contracts
Sources: Assignment and Purchase Agreement (South Carolina Electric & Gas Co), Settlement Agreement (South Carolina Electric & Gas Co)
Release. In consideration of (a) As an inducement to Buyer to enter into this Agreement and any agreements ancillary hereto to which it will be a party and consummate the agreements of the Administrative Agent transactions contemplated hereby and the Lenders contained herein thereby and for other good and valuable sufficient consideration, each of the receipt Sellers, with the intention of binding itself and sufficiency any other Person to the extent claiming through such Seller (including such Seller’s Affiliates, Representatives, heirs, executors, administrators and assigns) (the “Releasors”), does hereby (effective as of which is hereby acknowledged, each Loan Party hereby and subject to the Closing) unconditionally and irrevocably remisesrelease, acquitsacquit and forever discharge Buyer and each of its past, present and future Affiliates and Representatives, including the Company, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries Persons acting by, through, under, or in concert with any of the Administrative Agent and the Lenders, their respective officers, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns such Persons (collectively, the “Released Lender PartiesReleasees”) ), of and from any and all claims, demandsActions, causes of action, obligations, remedies, suits, damages arbitrations, other proceedings, demands, debts, Contracts, promises, Liabilities and liabilities Losses of any nature whatsoever, known or unknown, suspected or unsuspected, fixed or contingent, direct, derivative, vicarious or otherwise, whether based in contract, tort, or other legal, statutory, or equitable theory of recovery, each as though fully set forth at length herein (collectively, a “Claim”), which the Releasors now have or may hereafter have against the Releasees, or any of them, by reason of any matter, cause, act, omission or thing whatsoever in any way arising out of, based upon, or relating to such Seller’s ownership of Sale Shares, the organization of the Company, or the operation of the Company’s business prior to the Closing (the “Loan Party Released Matters”); provided, however, that nothing set forth in this Section 8.9 shall release or otherwise affect (i) the right or ability of any such Seller to fully enforce its rights and remedies under this Agreement or any ancillary agreements hereto to which it is a party in accordance with the terms hereof and thereof, (ii) the right of any Releasor to indemnification or insurance benefits under any insurance policy in effect as of the date hereof maintained by or covering the Company or its operations, or from the Company (under its Constitutive Documents or under a Contract), with respect to such Releasor’s service as a director, officer, employee or agent of the Company, (iii) the right of any Releasor to unpaid compensation or other payment for services as an employee of or independent contractor to the Company or to receive benefits under any Company Plan, (iv) any rights of any Releasor arising from or related to fraud or criminal activity committed by any Releasee, (v) any rights of a Releasor in respect of any unknown claims that a Releasor may have arising out of any contractual or commercial relationship such Releasor may have with a Releasee other than the Company that is unrelated to this Agreement or the transactions contemplated hereby, or (vi) any rights of any Releasor that, under applicable Law, cannot be waived. Each Seller expressly consents that this general release shall be given full force and effect according to each and all of its express terms and provisions, including those relating to unknown and unsuspected Released Matters (notwithstanding any Law that expressly limits the effectiveness of a general release of unknown, unsuspected or unanticipated Claims”).
(b) Each Seller represents and warrants, on a several basis, to Buyer that there has been no assignment or other transfer of any interest in any Claim arising out of or related to the Credit Agreement, the other Loan Documents, or the transactions contemplated therein, whether now known, suspected or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims Released Matters which such Seller may have arisen at against any time of the Releasees, and each Seller agrees to indemnify and hold the Releasees harmless from, and compensate and reimburse them for, any Liabilities, Claims or Losses incurred as a result of any Person asserting any such assignment or transfer of any rights or Claims under any such assignment or transfer from such party.
(c) Each Seller represents and warrants, on a several basis, to Buyer that neither it nor its Affiliates has filed, and such Seller shall not, and shall cause its Affiliates not to, file or prior otherwise seek to assert or assist any other Person in filing or otherwise seeking to assert, nor as of the date hereof has, any Claim arising out of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of based upon any duty or obligation, express or implied, of the Released Lender Parties Matters against any of the Releasees. Each Seller agrees that if it hereafter commences, joins in, or in any manner seeks relief through any Action arising out of, based upon, or relating to any Loan Party. The agreements set forth of the Claims released hereunder, or in this Paragraph 6 shall survive any manner asserts against the termination Releasees any of the Claims released hereunder, including through any motion to reconsider, reopen or expiration appeal the dismissal of this Agreement the Action, and the termination of Releasees are the Loan Documents and prevailing party in such Action, then such Seller shall pay to the repayment, satisfaction Releasees against whom such Claim(s) is asserted all Losses incurred by such Releasees in defending or discharge of the Obligationsotherwise responding to such Claim.
Appears in 2 contracts
Sources: Share Purchase Agreement (Odyssey Therapeutics, Inc.), Share Purchase Agreement (Odyssey Therapeutics, Inc.)
Release. In consideration of the agreements of the Administrative Agent (a) Borrower hereby releases and the Lenders contained herein forever discharges Lender and for other good its parents, subsidiaries and valuable considerationaffiliates, the receipt and sufficiency of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquitspast or present, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries each of the Administrative Agent and the Lendersthem, as well as their respective directors, officers, agents, servants, employees, agentsshareholders, representatives, attorneys, principalsadministrators, advisorsexecutors, directors heirs, assigns, predecessors and shareholderssuccessors in interest, and their respective heirsall other persons, legal representativesfirms or corporations with whom any of the former have been, successors are now, or may hereafter be affiliated, and assigns each of them (collectively, the “Released Lender PartiesReleasees”) ), from and against any and all claims, demands, liens, agreements, contracts, covenants, actions, suits, causes of actionaction in law or equity, obligations, remediescontroversies, suitsdebts, damages costs, expenses, damages, judgments, orders and liabilities of whatever kind or nature in law, equity or otherwise, whether known or unknown, fixed or contingent, suspected or unsuspected by Borrower, and whether concealed or hidden (collectively, the “Loan Party Claims”) arising ), which Borrower now owns or holds or has at any time heretofore owned or held, which are based upon or arise out of or related in connection with any matter, cause or thing existing at any time prior to the Credit Agreementdate hereof or anything done, omitted or suffered to be done or omitted at any time prior to the date hereof in connection with the Loan Agreement or the other Loan Documents (collectively the “Released Matters”).
(b) Borrower represents, warrants and agrees, that in executing and entering into this release, it is not relying and have not relied upon any representation, promise or statement made by anyone which is not recited, contained or embodied in this Amendment, the Loan Agreement or the other Loan Documents. Borrower has reviewed this release with Borrower’s legal counsel, and understands and acknowledges the significance and consequence of this release and of the specific waiver thereof contained herein. Borrower understands and expressly assumes the risk that any fact not recited, contained or embodied therein may turn out hereafter to be other than, different from, or contrary to the transactions contemplated thereinfacts now known to Borrower or believed by Borrower to be true. Nevertheless, whether now knownBorrower intends by this release to release fully, suspected finally and forever all Released Matters and agrees that this release shall be effective in all respects notwithstanding any such difference in facts, and shall not be subject to termination, modification or claimedrescission by reason of any such difference in facts.
(c) Borrower, whether arising under common on behalf of itself and its successors, assigns, and other legal representatives, hereby absolutely, unconditionally and irrevocably, covenants and agrees with each Releasee that it will not ▇▇▇ (at law, in equity or under statuteequity, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute regulatory proceeding or cause to be commenced or prosecuted against otherwise) any of Releasee on the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation basis of any duty or obligationClaims released, express or impliedremised and discharged by Borrower pursuant to this Section 9. If Borrower violates the foregoing covenant, Borrower agrees to pay, in addition to such other damages as any Releasee may sustain as a result of the Released Lender Parties to such violation, all attorneys’ fees and costs incurred by any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration Releasee as a result of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the Obligationssuch violation.
Appears in 2 contracts
Sources: Loan and Security Agreement (Acme United Corp), Loan and Security Agreement (Acme United Corp)
Release. In consideration of the agreements of the Administrative Agent and the Lenders mutual promises contained herein herein, each Party, for itself and for other good and valuable considerationeach of its Affiliates, the receipt and sufficiency of which is hereby acknowledgedgenerally, each Loan Party hereby irrevocably, unconditionally and irrevocably remisescompletely releases and forever discharges the other Party, acquitssuch other Party’s Affiliates, and fully its and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenderstheir officers, their respective officersdirectors, stockholders, agents, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representativesadministrators, executors, predecessors, successors and assigns (collectivelyhereinafter, the “Released Lender Parties”) from, and hereby irrevocably, unconditionally and completely waives and relinquishes, each of such Party’s Released Claims. The Parties acknowledge they are aware that they may hereafter discover facts in addition to or different from any those now known or believed to be true with respect to the subject matter of this release, but that it is their intention to hereby fully, finally and forever settle and release all such claims, demandsdisputes and differences, causes known or unknown, suspected or unsuspected, that now exist or heretofore have existed between the Parties and that in furtherance of such intention, this release shall remain in effect as a full and complete release notwithstanding the discovery or existence of any such additional or different facts. The term “Released Claims,” when used herein with respect to a Party, shall mean and include each and every claim, charge, complaint, demand, action, cause of action, obligationssuit, remediesright, suitsdebt, damages sum of money, cost, reckoning, covenant, contract, agreement, promise, doing, omission, damage, execution, obligation, liability, and liabilities expense (collectivelyincluding attorneys’ fees and costs), the “Loan Party Claims”) arising out of or related to the Credit Agreement, the other Loan Documents, or the transactions contemplated thereinevery kind and nature, whether at law or in equity, that such Party may have had in the past, may now known, suspected have or claimed, whether arising under common law, may have in equity or under statute, which any Loan Party ever had or now has the future against the Released Lender Parties Parties, and which may have has arisen at or arises directly or indirectly out of, or relates directly or indirectly to, any time circumstance, agreement, activity, action, omission, event or matter occurring or existing on or prior to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior Effective Date to the date of this extent such claim relates to or arises under the Collaboration Agreement. Each Loan Party acknowledges and agrees ; provided, however, that the Released Lender Parties have acted in good faith in negotiating Claims shall exclude: (1) any and entering into all rights to seek and obtain indemnification under this Agreement letter agreement and that the provisions hereof are not in breach Collaboration; and (2) any and all rights to seek and obtain enforcement of, or violation of any duty or obligation, express or implied, a remedy arising out of the Released Lender Parties to breach of, any Loan Party. The agreements set forth obligation provided for in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the Obligationsletter agreement.
Appears in 2 contracts
Sources: Collaboration Agreement (Celldex Therapeutics, Inc.), Collaboration Agreement (Curagen Corp)
Release. In consideration (a) Effective on the date hereof, B▇▇▇▇▇▇▇, New Holdco and each Guarantor, for itself and on behalf of the agreements of the Administrative Agent and the Lenders contained herein and for other good and valuable considerationits successors, the receipt and sufficiency of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquitsassigns, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lendersofficers, their respective officersdirectors, employees, agentsagents and attorneys, and any Person acting for or on behalf of, or claiming through it, hereby waives, releases, remises and forever discharges Agent and each Lender, each of their respective Affiliates, and each of their respective successors in title, past and present officers, directors, employees, limited partners, general partners, investors, attorneys, principalsassigns, advisorssubsidiaries, directors and shareholders, trustees, agents and their respective heirs, legal representatives, successors other professionals and assigns all other persons and entities to whom any member of the Lenders would be liable if such persons or entities were found to be liable to Borrower or such Guarantor (each a “Releasee” and collectively, the “Released Lender PartiesReleasees”) ), from any and all past and present claims, suits, liens, lawsuits, adverse consequences, amounts paid in settlement, debts, deficiencies, diminution in value, disbursements, demands, obligations, liabilities, causes of action, obligationsdamages, remedieslosses, suitscosts and expenses of any kind or character, damages whether based in equity, law, contract, tort, implied or express warranty, strict liability, criminal or civil statute or common law (each a “Claim” and liabilities (collectively, the “Loan Party Claims”) arising out ), whether known or unknown, fixed or contingent, direct, indirect, or derivative, asserted or unasserted, matured or unmatured, foreseen or unforeseen, past or present, liquidated or unliquidated, suspected or unsuspected, which Borrower or such Guarantor ever had from the beginning of the world, now has, or related might hereafter have against any such Releasee which relates, directly or indirectly to the Credit Agreement, any other Loan Document, or to any acts or omissions of any such Releasee with respect to the Credit Agreement or any other Loan Document, or to the lender-borrower relationship evidenced by the Loan Documents, or except for the transactions contemplated thereinduties and obligations set forth in this Amendment. As to each and every Claim released hereunder, whether now knownB▇▇▇▇▇▇▇, suspected or claimedNew Holdco, whether arising under common law, in equity or under statute, which any Loan Party ever had or now and each Guarantor hereby represents that it has against received the Released Lender Parties which may have arisen at any time on or prior advice of legal counsel with regard to the date releases contained herein, and having been so advised, specifically waives the benefit of this Agreementthe provisions of Section 1542 of the Civil Code of California which provides as follows: “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY.” As to each and every Claim released hereunder, B▇▇▇▇▇▇▇, New Holdco and each Guarantor also waives the benefit of each other similar provision of applicable federal or state law (including without limitation the laws of the state of California), if any, pertaining to general releases after having been advised by its legal counsel with respect thereto. Each Loan Party covenants Borrower, New Holdco, and each Guarantor acknowledges that it may hereafter discover facts different from or in addition to those now known or believed to be true with respect to such Claims and agrees never to (that this instrument shall be and never to cause remain effective in all respects notwithstanding any other Loan Party to) commencesuch differences or additional facts. Borrower, voluntarily aid in any wayNew Holdco, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party and each Guarantor understands, acknowledges and agrees that the Released Lender Parties have acted release set forth above may be pleaded as a full and complete defense and may be used as a basis for an injunction against any action, suit or other proceeding which may be instituted, prosecuted or attempted in good faith in negotiating and entering into this Agreement and that breach of the provisions hereof are of such release.
(b) Borrower, New Holdco, and each Guarantor, for itself and on behalf of its successors, assigns, and officers, directors, employees, agents and attorneys, and any Person acting for or on behalf of, or claiming through it, hereby absolutely, unconditionally and irrevocably, covenants and agrees with and in favor of each Releasee above that it will not sue (at law, in breach equity, in any regulatory proceeding or violation otherwise) any Releasee on the basis of any duty Claim released, remised and discharged by such Person pursuant to the above release. Borrower, New Holdco and each Guarantor further agrees that it shall not dispute the validity or obligation, express or implied, enforceability of the Released Lender Parties to Credit Agreement or any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the other Loan Documents or any of its obligations thereunder, or the validity, priority, enforceability or the extent of Agent’s Lien on any item of Collateral under the Credit Agreement or the other Loan Documents. If Borrower, New Holdco, or any Guarantor, or any of their respective successors, assigns, or officers, directors, employees, agents or attorneys, or any Person acting for or on behalf of, or claiming through it violate the foregoing covenant, such Person, for itself and the repaymentits successors, satisfaction or discharge assigns and legal representatives, agrees to pay, in addition to such other damages as any Releasee may sustain as a result of the Obligationssuch violation, all attorneys’ fees and costs incurred by such Releasee as a result of such violation.
Appears in 2 contracts
Sources: Credit Agreement (Glass House Brands Inc.), Credit Agreement (Glass House Brands Inc.)
Release. In consideration Each Shareholder, on behalf of itself and its Subsidiaries and Affiliates, hereby agrees, effective upon the agreements Closing and without the need of any further notice or action, that (a) the Administrative Agent Purchaser and the Lenders contained herein its Subsidiaries and for other good and valuable consideration, the receipt and sufficiency of which is Affiliates are hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquits, and fully released and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective officers, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns (collectively, the “Released Lender Parties”) discharged from any and all Liabilities, obligations, claims, demands, causes of actionproceedings, obligationsActions, remediesContracts, suitsagreements, damages Debt and liabilities (collectively, the “Loan Party Claims”) arising out of or related to the Credit Agreement, the other Loan Documents, or the transactions contemplated thereinGuarantees whatsoever, whether now knownknown or unknown, suspected or claimedunsuspected, whether arising under common lawboth in law and in equity, in equity that any Shareholder, or under statuteany of their Subsidiaries or Affiliates now have, which any Loan Party have ever had or now has against the Released Lender Parties which may hereafter have arisen at any time on arising contemporaneously with or prior to the date Closing Date or on account of this Agreement. Each Loan Party covenants and agrees never or arising out of any Debt or Liability owed by the Company or any of its Subsidiaries to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties Shareholders or any action of their Subsidiaries or other proceeding based upon any of their Affiliates (collectively, “Claims”), and (b) any and all Liens, if any, which any Shareholder or any of its Subsidiaries or Affiliates may have on the assets of the Purchaser or any of its Subsidiaries and Affiliates in respect of the Claims are hereby automatically and irrevocably released; provided, however, that, notwithstanding the foregoing, this release does not cover, and the Shareholders shall not be deemed to release the Purchaser from, any and all Claims the Shareholders may have or be entitled to, under any of the Loan Party Claims which may have arisen at any time Sale Documents. Each Shareholder, on or prior behalf of itself and its Subsidiaries and Affiliates, hereby represents and warrants to the date Purchaser that neither the Shareholders nor any of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach their Subsidiaries or violation Affiliates has Transferred or purported to Transfer to any Person all or any portion of any duty Claim released by the Shareholders and their Subsidiaries and Affiliates herein. This Section 9.05 shall not prohibit or obligation, express in any way restrict the Shareholders’ rights and ability to make a Claim or implied, demand for payment directly against the Company or its Subsidiaries of the Released Lender Parties amounts or claims owed by the Company or its Subsidiaries to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the ObligationsShareholders.
Appears in 2 contracts
Sources: Asset Purchase and Sale Agreement (Avaya Inc), Asset Purchase and Sale Agreement (Northwestern Corp)
Release. In consideration Each Loan Party hereby remises, releases, acquits, satisfies and forever discharges the Arranger, the Administrative Agent, the Lenders and their respective agents, employees, officers, directors, predecessors, attorneys and all others acting or purporting to act on behalf of or at the direction of the agreements of Arranger, the Administrative Agent and or the Lenders contained herein (“Releasees”), of and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquits, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective officers, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns (collectively, the “Released Lender Parties”) from any and all claims, demandsmanner of actions, causes of action, obligations, remedies, suits, damages damages, claims and liabilities (collectively, the “Loan Party Claims”) arising out of or related to the Credit Agreement, the other Loan Documents, or the transactions contemplated therein, whether now known, suspected or claimed, whether arising under common lawdemands, in equity each case, that as of the date hereof are known or under statutereasonably should be known to such Loan Party, in law or in equity, which any such Loan Party ever had or had, now has against or, to the Released Lender Parties which may have arisen at extent arising from or in connection with any time act, omission or state of facts taken or existing on or prior to the date hereof, may have after the date hereof against the Releasees, for, upon or by reason of any matter, cause or thing whatsoever through the date hereof (it being understood that nothing in this Agreementsentence shall release or otherwise affect the covenants of the Releasees under the Credit Agreement and the other Loan Documents, in each case, after the Fifth Amendment Effective Date). Each Without limiting the generality of the foregoing, each Loan Party covenants hereby waives and affirmatively agrees never not to (allege or otherwise pursue any actions, causes of action, suits, damages, claims and never to cause demands that it shall or may have as of the date hereof against any Releasees in connection with the Credit Agreement or the other Loan Party Documents, including, but not limited to, the rights to contest (a) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any the right of the Released Arranger, the Administrative Agent and each Lender Parties to exercise its rights and remedies described in the Credit Agreement, (b) any action provision of the Credit Agreement or the other Loan Documents or (c) any conduct of the Arranger, the Administrative Agent, the Lenders or other proceeding based upon any Releasees relating to or arising out of the Credit Agreement or the other Loan Party Claims which may have arisen at any time Documents on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the Obligationshereof.
Appears in 2 contracts
Sources: Credit Agreement (Willbros Group, Inc.\NEW\), Credit Agreement (Willbros Group, Inc.\NEW\)
Release. Each of the Borrower and each Guarantor may have certain Claims against the Released Parties, as those terms are defined below, regarding or relating to the Credit Agreement or the other Loan Documents. The Administrative Agent, the Lenders, the Lead Arranger, the Co-Lead Arranger, the Issuing Lender, the Swingline Lender, the Borrower and the Guarantors desire to resolve each and every one of such Claims in conjunction with the execution of this Amendment and thus each of the Borrower and each Guarantor makes the releases contained in this Section 11. In consideration of the agreements of the Administrative Agent and the Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledgedentering into this Amendment, each Loan Party of the Borrower and each Guarantor hereby unconditionally and irrevocably remises, acquits, and fully and forever unconditionally releases and forever discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries each of the Administrative Agent and Agent, the Lenders, the Issuing Lender, the Swingline Lender and their respective directors, officers, employees, agentssubsidiaries, branches, affiliates, attorneys, principalsagents, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns and all persons, firms, corporations and organizations acting on any of their behalves (collectively, the “Released Lender Parties”) ), of and from any and all claims, demandsallegations, causes of action, obligationscosts or demands and liabilities, remediesof whatever kind or nature, suits, damages and liabilities (collectively, from the “Loan Party Claims”) arising out beginning of or related the world to the Credit Agreement, the other Loan Documents, or the transactions contemplated thereindate on which this Amendment is executed, whether now knownknown or unknown, liquidated or unliquidated, fixed or contingent, asserted or unasserted, foreseen or unforeseen, matured or unmatured, suspected or claimedunsuspected, whether arising under common law, in equity anticipated or under statuteunanticipated, which the Borrower or any Loan Party ever Guarantor has, had, claims to have had or now has hereafter claims to have against the Released Lender Parties which may have arisen at by reason of any time act or omission on the part of the Released Parties, or any of them, occurring prior to the date on which this Amendment is executed, including all such loss or damage of this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute kind heretofore sustained or cause to be commenced or prosecuted against any that may arise as a consequence of the Released Lender Parties any action dealings among the parties up to and including the date on which this Amendment is executed, including the administration or other proceeding based upon enforcement of the Loans, the Obligations, the Credit Agreement or any of the Loan Party Claims which may have arisen at any time on or prior to Documents (collectively, all of the date of this Agreementforegoing, the “Claims”). Each Loan Party acknowledges of the Borrower and agrees each Guarantor represents and warrants that it has no knowledge of any claim by it against the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty facts or obligation, express or implied, acts of omissions of the Released Lender Parties to which on the date hereof would be the basis of a claim by the Borrower or any Loan PartyGuarantor against the Released Parties which is not released hereby. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination Each of the Loan Documents Borrower and each Guarantor represents and warrants that the repayment, satisfaction or discharge foregoing constitutes a full and complete release of the Obligationsall Claims.
Appears in 2 contracts
Sources: Credit Agreement (Everyday Health, Inc.), Credit Agreement (Everyday Health, Inc.)
Release. In (a) Intending to be legally bound, and in consideration of the agreements Company’s obligations set forth in the Amended and Restated Employment Agreement, dated as of [ ], 2024 (the Administrative Agent “Amended Employment Agreement”), by and between the Lenders contained herein Company and for other good Executive, including but not limited to the Termination Payment (as defined in the Amended Employment Agreement), but excluding the Accrued Benefits (as defined in the Amended Employment Agreement), Executive, on behalf of Executive, Executive’s heirs, executors, administrators, successors and valuable considerationassigns, the receipt hereby irrevocably and sufficiency of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquits, and fully releases and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries Company, its parents, together with each of the Administrative Agent and the Lenders, their respective officerssubsidiaries and affiliates, employeestogether with each of their present or former respective owners, members, managers, assigns, agents, attorneysdirectors, principalspartners, advisorsofficers, directors executives, contractors, attorneys and shareholdersrepresentatives, and any of their predecessors and successors and each of their estates, heirs, family members and assigns, each solely in their respective heirs, legal representatives, successors and assigns official capacities as such (collectively, the “Released Lender PartiesCompany Releasees”) ), from any and all charges, complaints, claims, demandscontroversies, liabilities, liens, obligations, promises, agreements, causes of action, obligationsrights, remediescosts, suitslosses, damages damages, demands, debts and liabilities expenses of any nature whatsoever, in law or in equity, known or unknown, suspected or unsuspected, arising out of the employment relationship or separation therefrom (collectively, the “Loan Party Claims”), which Executive or Executive’s heirs, executors, administrators, successors or assigns ever had, now have or hereafter can, will or may have (either directly, indirectly, derivatively or in any other representative capacity) by reason of any matter, fact, event, act, omission, conduct or cause whatsoever against the Company or any of the other Company Releasees from the inception of the employment relationship as provided in the Amended Employment Agreement to the date upon which Executive signs this Release. This Release includes, without limitation, all rights and Claims arising out of, or relating in any way to, Executive’s employment relationship, or the termination thereof, with the Company or any of the Company Releasees, all Claims for attorneys’ fees and punitive or consequential damages and all Claims arising under any federal, state or local law, statute, ordinance, common law, or regulation including, without limitation, the Age Discrimination in Employment Act, the Older Workers Benefit Protection Act (“OWBPA”), the Employee Retirement Income Security Act, the Americans with Disabilities Act, Title VII of the Civil Rights Act of 1964, the Family and Medical Leave Act, the Civil Rights Act of 1991, the Fair Labor Standards Act, the Equal Pay Act, the Immigration and Reform Control Act, the Uniform Services Employment and Re-Employment Act, the Rehabilitation Act of 1973, the Worker Adjustment and Retraining Notification Act, Executive Order 11246, the ▇▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002, the Defend Trade Secrets Act of 2016, each as amended; provided, however, that nothing in this Release shall release or impair (i) Executive’s right to enforce the terms of the Amended and Restated Employment Agreement (including but not limited to this Release), (ii) Executive’s right to receive benefits under the Company’s benefit plans, programs and policies, as provided under the terms of such benefit plans, programs and policies, if any, that have accrued and are payable under the terms of such benefit plans, programs and policies, (iii) Executive’s existing rights to indemnification and advancement of costs under the Indemnification Agreement with the Company dated as of March 20, 1987 (or any successor agreement), the Company’s Certificate of Incorporation, the Company’s Bylaws or Delaware law, (iv) Executive’s entitlement or rights to or coverage under any applicable directors’ and officers’ or other third party liability insurance policy procured by the Company, including that certain six (6) year pre-paid “tail policy” to be obtained in connection with the consummation of the transactions contemplated by the Merger Agreement (as defined in the Amended Employment Agreement); (v) claims for equitable indemnification and/or contribution in the event of a third party claim against Executive arising from his performance or conduct in that capacity; (vi) any rights of Executive’s family members or spouse under any separate agreement by and between the Company and such family member or spouse, to the extent such agreement(s) have been provided or disclosed to the Company or one of its affiliates; or (vii) any rights that cannot be waived under applicable law.
(b) In exchange for Executive’s waiver and release of Claims against the Company Releasees, the Company expressly waives and releases any and all Claims against Executive, his legal successors, heirs and assigns, that may be waived and released by law related to Executive’s employment with or separation from the Company, with the exception of claims arising out of or related to attributable to: (i) events, acts, or omissions taking place after the Credit AgreementParties’ execution of this Release; and (ii) Executive’s breach of any terms and conditions of this Release.
(c) Executive represents that Executive has no complaints, charges or lawsuits currently pending against the Company or any of the other Loan DocumentsCompany Releasees arising out of or relating in any way to Executive’s employment; provided, however, that this representation does not include any past or ongoing charges, claims, or other cooperation with the transactions contemplated therein, whether now known, suspected or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this AgreementSecurities and Exchange Commission (“SEC”) about a possible securities law violation. Each Loan Party Executive further covenants and agrees never that neither Executive nor Executive’s heirs, executors, administrators, successors or assigns will be entitled to (and never to cause any other Loan Party to) commence, voluntarily aid personal recovery in any way, prosecute proceeding of any nature whatsoever against the Company or cause to be commenced or prosecuted against any of the Released Lender Parties other Company Releasees arising out of or relating in any action or other proceeding based upon way to any of the Loan Party Claims which may have arisen at matters released in this Section 1.
(d) This Release does not impair any time on rights or prior obligations Executive has (i) to file a charge of discrimination, or to engage in protected whistleblowing or other protected activity, with a federal or state administrative agency, or (ii) arising under independent contractual and independent legal obligations to the date Company, pursuant to any agreement, understanding or otherwise applicable to Executive in any capacity other than his capacity as an employee of this Agreement. Each Loan Party the Company, or such as Executive’s independent fiduciary obligations to the Company; provided, however, that Executive acknowledges and agrees that the Released Lender Parties have acted neither Executive nor Executive’s heirs, executors, administrators, successors or assigns will be entitled to any personal recovery in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation any proceeding of any duty or obligation, express or implied, nature whatsoever against the Company Releasees arising out of any of the Released Lender Parties to any Loan Party. The agreements set forth matters released in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the ObligationsSection 1.
Appears in 2 contracts
Sources: Employment Agreement (M.D.C. Holdings, Inc.), Employment Agreement (M.D.C. Holdings, Inc.)
Release. In consideration (a) Executive on behalf of the agreements of the Administrative Agent himself, his heirs, executors, administrators and the Lenders contained herein assigns, does hereby knowingly and for other good and valuable considerationvoluntarily release, the receipt and sufficiency of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquits, and fully acquit and forever releases discharge the Company and discharges the Administrative Agent any affiliates, successors, assigns and the Lenders past, present and all respective affiliates and subsidiaries of the Administrative Agent and the Lendersfuture directors, their respective officers, employees, agentstrustees and shareholders (the "RELEASED PARTIES") from and against any and all charges, attorneyscomplaints, principalsclaims, advisorscross-claims, directors third-party claims, counterclaims, contribution claims, liabilities, obligations, promises, agreements, controversies, damages, actions, causes of action, suits, rights, demands, costs, losses, debts and shareholdersexpenses of any nature whatsoever, known or unknown, suspected or unsuspected, foreseen or unforeseen, matured or unmatured, which, at any time up to and their respective including the date thereof, exists, have existed, or may arise from any matter whatsoever occurring, including, but not limited to, any claims arising out of or in any way related to Executive's employment with the Company or its affiliates and the conclusion thereof, which Executive, or any of his heirs, executors, administrators and assigns and affiliates and agents ever had, now has or at any time hereafter may have, own or hold against the Company or any affiliates, legal representatives, successors and assigns (collectivelyassigns, past, present and future directors, officers, employees, trustees and shareholders. Executive acknowledges that in exchange for this release, the “Released Lender Parties”) Company is providing Executive with total consideration, financial or otherwise, which exceeds what Executive would have been given without the release. By executing this Agreement, Executive is waiving all claims against the Company and its related persons arising under federal, state and local labor and antidiscrimination laws and any other restriction on the right to terminate employment, including, without limitation, Title VII of the Civil Rights Act of 1964, as amended, the Americans with Disabilities Act of 1990, as amended, and the Human Rights Act, as amended. Nothing herein shall release any party from any and all claims, demands, causes of action, obligations, remedies, suits, damages and liabilities (collectively, the “Loan Party Claims”) arising out of or related to the Credit Agreement, the other Loan Documents, or the transactions contemplated therein, whether now known, suspected or claimed, whether arising obligation under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party covenants Notwithstanding anything herein to the contrary, Executive expressly reserves and agrees never does not release his rights of indemnification to (and never to cause which he is entitled under Section 13 of the Employment Agreement, or any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause rights of indemnification with regard to be commenced or prosecuted against any his service as an officer and director of the Released Lender Parties Company and its subsidiaries and its affiliates and any action benefit plan, or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreementhis rights to, and under, director and officer liability insurance coverage.
(b) EXECUTIVE SPECIFICALLY WAIVES AND RELEASES THE COMPANY FROM ALL CLAIMS EXECUTIVE MAY HAVE AS OF THE DATE EXECUTIVE SIGNS THIS AGREEMENT REGARDING CLAIMS OR RIGHTS ARISING UNDER THE AGE DISCRIMINATION IN EMPLOYMENT ACT OF 1967, AS AMENDED, 29 U.S.C. ss. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation621 ("ADEA"). EXECUTIVE FURTHER AGREES: (A) THAT EXECUTIVE'S WAIVER OF RIGHTS UNDER THIS RELEASE IS KNOWING AND VOLUNTARY AND IN COMPLIANCE WITH THE OLDER WORKER'S BENEFIT PROTECTION ACT OF 1990; (B) THAT EXECUTIVE UNDERSTANDS THE TERMS OF THIS RELEASE; (C) THAT THE SEVERANCE PAYMENTS AND OTHER BENEFITS CALLED FOR IN THIS AGREEMENT WOULD NOT BE PROVIDED TO ANY EXECUTIVE TERMINATING HIS OR HER EMPLOYMENT WITH THE COMPANY WHO DID NOT SIGN A RELEASE SIMILAR TO THIS RELEASE, express or impliedTHAT SUCH PAYMENTS AND BENEFITS WOULD NOT HAVE BEEN PROVIDED HAD EXECUTIVE NOT SIGNED THIS RELEASE, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repaymentAND THAT THE PAYMENTS AND BENEFITS ARE IN EXCHANGE FOR THE SIGNING OF THIS RELEASE; (D) THAT EXECUTIVE HAS BEEN ADVISED IN WRITING BY THE COMPANY TO CONSULT WITH AN ATTORNEY PRIOR TO EXECUTING THIS RELEASE; (E) THAT THE COMPANY HAS GIVEN EXECUTIVE A PERIOD OF AT LEAST TWENTY-ONE (21) DAYS WITHIN WHICH TO CONSIDER THIS RELEASE; (F) THAT EXECUTIVE REALIZES THAT FOLLOWING EXECUTIVE'S EXECUTION OF THIS RELEASE, satisfaction or discharge of the ObligationsEXECUTIVE HAS SEVEN (7) DAYS IN WHICH TO REVOKE THIS RELEASE BY WRITTEN NOTICE TO THE UNDERSIGNED, AND (G) THAT THIS ENTIRE AGREEMENT SHALL BE VOID AND OF NO FORCE AND EFFECT IF EXECUTIVE CHOOSES TO SO REVOKE, AND IF EXECUTIVE CHOOSES NOT TO SO REVOKE, THAT THIS AGREEMENT AND RELEASE THEN BECOME EFFECTIVE AND ENFORCEABLE.
Appears in 2 contracts
Sources: Employment Agreement (Coach Inc), Employment Agreement (Coach Inc)
Release. In consideration Each party hereto, on behalf of the agreements of the Administrative Agent itself and the Lenders contained herein its respective affiliates, subsidiaries, successors, assigns, officers, directors, employees and for other good and valuable considerationrepresentatives (collectively, the receipt "Releasing Persons"), hereby agrees that no party shall have any remaining obligations, liabilities or duties under the Merger Agreement (other than the duties of PMC and sufficiency SPPR pursuant to Section 11.6 thereunder), the Confidentiality Agreement, the Sale Agreement or the Master Lease and such agreements shall, except as specifically set forth herein, be of which is hereby acknowledgedno further force or effect. The parties hereto fully, finally, forever and unconditionally release, acquit and discharge each Loan Party hereby unconditionally other and irrevocably remises, acquits, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective affiliates, subsidiaries, officers, employeesdirectors, trust managers, agents, attorneys, principalsconsultants, advisors, directors employees and shareholders, representatives and their respective heirs, legal representativesthe predecessors, successors and assigns of each of them (collectively, the “"Released Lender Parties”) Persons"), with all Released Persons who are natural persons being so released, acquitted and discharged in both their individual as well as their official capacities, from any and all claims, controversies, covenants, representations, warranties, demands, promises, contracts, agreements, causes of action, suits, liabilities, obligations, remedies, suits, damages and liabilities (collectively, the “Loan Party Claims”) arising out debts or other responsibility of whatever kind or related to the Credit Agreement, the other Loan Documents, or the transactions contemplated thereinnature, whether now known, suspected known or claimedunknown, whether arising under common law, in equity law or under statutein equity, which any Loan Party the Releasing Persons ever had had, now have or now has against the Released Lender Parties which may have arisen at against any time on Released Person for any matter, thing, event, action or prior to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid omission which in any way, prosecute directly or cause indirectly, relates to be commenced or prosecuted against arises out of or is connected to the Transaction Agreements, any of the Released Lender Parties any action transactions contemplated thereby, including, without limitation by reason of or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and connection with the termination of the Loan Documents Transaction Agreements, or any other acts, facts, omissions, transactions, occurrences or other subject matters relating thereto, arising therefrom or in connection therewith; provided, however, that nothing contained herein shall release any obligation under this Termination Agreement or claim to enforce it. Notwithstanding the foregoing, the parties agree that PMC and the repayment, satisfaction or discharge SPPR shall not be released from their respective obligations under Section 11.6 of the ObligationsMerger Agreement which Section shall survive.
Appears in 2 contracts
Sources: Termination and Release Agreement (PMC Commercial Trust /Tx), Termination and Release Agreement (Supertel Hospitality Inc)
Release. In consideration A. Employee, on behalf of the agreements of the Administrative Agent and the Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquitshimself, and fully and any other person or entity which could make any claims through him forever releases and fully discharges the Administrative Agent Company, and the Lenders each of its subsidiaries and all respective affiliates and subsidiaries affiliates, together with each of the Administrative Agent and the Lenders, their respective officers, directors, employees, agents, attorneysrepresentatives, principalsheirs, advisorssuccessors, directors and shareholdersassigns, insurers, subsidiaries, partners, and their respective heirs, legal representatives, successors and assigns (collectively, the “Released Lender Parties”) any other person or entity that could be made liable through any of them from any and all claims, demands, rights, and causes of actionaction that could be asserted, obligationswhether known or unknown, remedieswhich Employee has, suitsor may in the future have, damages arising from or related to Employee's relationship with the Company or any of its subsidiaries and liabilities (collectivelyaffiliates, or the “Loan Party Claims”) termination thereof, or any relationship with any of them, including, but not limited to, claims arising out of or related to the Credit Agreement, the other Loan Documents, or the transactions contemplated therein, whether now known, suspected or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause manner to be commenced or prosecuted against any breach of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligationcontract, express or implied, any covenant of good faith and fair dealing, express or implied, any tort, or any violation of any federal, state, or local statute, order, rule or regulation.
B. The Company, on behalf of itself, and any other person or entity that could make any claims through it, forever releases and fully discharges Employee and any other person or entity that could be made liable through him from any and all claims, demands, rights, actions and causes of action that could be asserted, whether known or unknown, which the Company had, now has, or may in the future have, arising from or related to Employee's relationship with Company or any of its affiliates, or the termination thereof, or any other relationship with any of them, including, but not limited to, claims arising out of or related in any manner to any breach of contract, express or implied, any covenant of good faith and fair dealing, express or implied, any tort, or any violation of any federal, state, or local statute, order, rule or regulation.
C. Employee expressly acknowledges that he may have presently unknown or unsuspected claims against the Company, and has been provided the consideration detailed above in exchange for and full satisfaction and discharge of any such claims. The parties specifically waive all rights that they may have under California Civil Code section 1542, which provides that: "A general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which is known by him must have materially affected his settlement with the debtor."
D. The parties specifically waive any rights they may have under any similar Federal or State statute or law.
E. This release does not supersede any rights Employee may have for indemnification as an officer of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the ObligationsCompany.
Appears in 2 contracts
Sources: Severance Agreement (Vlsi Technology Inc), Severance Agreement (Vlsi Technology Inc)
Release. In consideration of the agreements of the Administrative Agent (a) Borrower hereby releases and the Lenders contained herein forever discharges Lender and for other good its parents, subsidiaries and valuable considerationaffiliates, the receipt and sufficiency of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquitspast or present, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries each of the Administrative Agent and the Lendersthem, as well as their respective directors, officers, agents, servants, employees, agentsshareholders, representatives, attorneys, principalsadministrators, advisorsexecutors, directors heirs, assigns, predecessors and shareholderssuccessors in interest, and their respective heirsall other persons, legal representativesfirms or corporations with whom any of the former have been, successors are now, or may hereafter be affiliated, and assigns each of them (collectively, the “Released Lender PartiesReleasees”) ), from and against any and all claims, demands, liens, agreements, contracts, covenants, actions, suits, causes of actionaction in law or equity, obligations, remediescontroversies, suitsdebts, damages costs, expenses, damages, judgments, orders and liabilities of whatever kind or nature in law, equity or otherwise, whether known or unknown, fixed or contingent, suspected or unsuspected by Borrower, and whether concealed or hidden (collectively, the “Loan Party Claims”) arising ), which Borrower now owns or holds or has at any time heretofore owned or held, which are based upon or arise out of or related in connection with any matter, cause or thing existing at any time prior to the Credit Agreementdate hereof or anything done, omitted or suffered to be done or omitted at any time prior to the date hereof in connection with the Loan Agreement or the other Loan Documents (collectively the “Released Matters”).
(b) Borrower represents, warrants and agrees, that in executing and entering into this release, it is not relying and have not relied upon any representation, promise or statement made by anyone which is not recited, contained or embodied in this Amendment, the Loan Agreement or the other Loan Documents. Borrower has reviewed this release with Borrower’s legal counsel, and understands and acknowledges the significance and consequence of this release and of the specific waiver thereof contained herein. Borrower understands and expressly assumes the risk that any fact not recited, contained or embodied therein may turn out hereafter to be other than, different from, or contrary to the transactions contemplated thereinfacts now known to Borrower or believed by Borrower to be true. Nevertheless, whether now knownBorrower intends by this release to release fully, suspected finally and forever all Released Matters and agrees that this release shall be effective in all respects notwithstanding any such difference in facts, and shall not be subject to termination, modification or claimedrescission by reason of any such difference in facts.
(c) Borrower, whether arising under common on behalf of itself and its successors, assigns, and other legal representatives, hereby absolutely, unconditionally and irrevocably, covenants and agrees with each Releasee that it will not ▇▇▇ (at law, in equity or under statuteequity, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute regulatory proceeding or cause to be commenced or prosecuted against otherwise) any of Releasee on the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation basis of any duty or obligationClaims released, express or impliedremised and discharged by Borrower pursuant to this Section 10. If Borrower violates the foregoing covenant, Borrower agrees to pay, in addition to such other damages as any Releasee may sustain as a result of the Released Lender Parties to such violation, all attorneys’ fees and costs incurred by any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration Releasee as a result of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the Obligationssuch violation.
Appears in 2 contracts
Sources: Loan and Security Agreement (Acme United Corp), Loan and Security Agreement (Acme United Corp)
Release. In consideration of (a) From and after the agreements of the Administrative Agent Closing, each Seller, Purchaser, and the Lenders contained herein Acquired Company Entities, on behalf of themselves and for other good each of their Affiliates, hereby release and valuable considerationforever discharge each of Purchaser, Sellers and the receipt Acquired Company Entities and sufficiency each of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquitstheir respective Affiliates, and fully any individual, joint or mutual, past, present and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lendersfuture representatives, their respective officersagents, financial advisors, attorneys, other consultants, employees, agentsofficers, attorneysdirectors, principalsmanagers, advisorsstockholders, directors and shareholderspartners, and their respective heirsmembers, legal representativescontrolling persons, subsidiaries, successors and assigns of any of the foregoing (individually, a “Releasee” and, collectively, the “Released Lender PartiesReleasees”) ), from any and all claims, demands, proceedings, causes of action, orders, obligations, remediescontracts, suitsagreements, damages debts and liabilities (collectively, the “Loan Party Claims”) arising out of or related to the Credit Agreement, the other Loan Documents, or the transactions contemplated thereinwhatsoever, whether now knownknown or unknown, suspected or claimedunsuspected, whether arising under common law, both at law and in equity or under statuteequity, which such Seller, Purchaser, Acquired Company Entities or any Loan Party of such Seller’s, Purchaser’s, and Acquired Company Entities’ respective Affiliates, or any of their respective heirs, executors, administrators or assigns, now has, has ever had had, or now has may hereafter have against the Released Lender Parties which may have arisen at any time on Releasee arising contemporaneously with or prior to the date Closing Date or on account of this Agreement. Each Loan Party covenants and agrees never to (and never to or arising out of any matter, cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on event occurring contemporaneously with or prior to the date Closing Date (all of the foregoing collectively referred to herein as the “Claims”); provided, however, that nothing contained herein shall operate to release (i) any obligations of Sellers, Purchaser or the Acquired Company Entities under this AgreementAgreement or under any other Transaction Document executed and delivered to Sellers, Purchaser or the Acquired Company Entities by such other Party at the Closing in connection with the Transactions, or (ii) any Claims for fraud, willful misconduct or criminal acts that Purchaser or the Acquired Company Entities may have against any Seller in his or her capacity as a director, officer or manager of the Acquired Company Entities. Each Loan Party acknowledges Seller, Purchaser, and agrees the Acquired Company Entities represent that the Released Lender Parties they have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach made any assignment or violation transfer of any duty Claim or obligationother matter covered by this paragraph. Each Seller, express Purchaser, and Acquired Company Entities hereby irrevocably covenants to refrain from, directly or indirectly, asserting any Claim, or commencing, instituting, or causing to be commenced, any Action of any kind against any Releasee, based upon any matter released hereby.
(b) Each Seller, Purchaser, and Acquired Company Entities hereby acknowledge and intend that this release shall be effective as a bar to each and every one of the Claims hereinabove mentioned or implied. Each Seller, of the Released Lender Parties Purchaser, and Acquired Company Entities expressly consents that this release shall be given full force and effect in accordance with each and every express term or provision, including those (i) relating to any Loan Party. The agreements set forth in this Paragraph 6 shall survive Claims hereinabove mentioned or implied or (ii) relating to unknown and unsuspected Claims (notwithstanding any state statute that expressly limits the termination or expiration effectiveness of this Agreement a general release of unknown, unsuspected and the termination of the Loan Documents and the repayment, satisfaction or discharge of the Obligationsunanticipated Claims).
Appears in 2 contracts
Sources: Equity Purchase Agreement (Infrastructure & Energy Alternatives, Inc.), Equity Purchase Agreement (Infrastructure & Energy Alternatives, Inc.)
Release. In consideration (a) Immediately upon the Closing, Acquirer and its Affiliates (including the Midstream Entities) hereby fully and irrevocably releases, acquits and forever discharges each past and current officer, director, partner, general partner, limited partner, managing director, member, stockholder, trustee, representative, employee, principal and agent of Contributor GP and each of the agreements of the Administrative Agent and the Lenders contained herein and for other good and valuable considerationMidstream Entities (solely in their capacity as such, the receipt and sufficiency of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquits, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective officers, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns (collectively, the “Released Lender Parties”) from any and all Losses, claims, demands, causes rights, encumbrances, covenants or proceedings, of actionwhatever kind or nature in law, obligationsequity or otherwise, remedieswhether known or unknown, suitsand whether or not concealed or hidden, damages and liabilities (collectivelyall of which any Midstream Entity now owns or holds or has at any time owned or held or may hereafter own or hold against any Released Party at any time, the “Loan Party Claims”) arising which arise out of actions taken or related omission made, prior to the Credit AgreementClosing Date, in respect of the other Loan Documentsbusiness, affairs and governance and management of any Midstream Entity; provided that the parties acknowledge and agree that this Section 9.8(a) does not constitute a release of any claim resulting from the willful misconduct or fraudulent act by a Released Party.
(b) Acquirer hereby irrevocably covenants to refrain from, and to cause its Affiliates to refrain from, directly or indirectly, asserting any claim or demand, or the transactions contemplated thereincommencing, whether now knowninstituting or causing to be commenced, suspected or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has proceeding of any kind against the Released Lender Parties which may have arisen at Parties, based upon any time on or prior matter purported to the date of this Agreement. Each Loan Party covenants and agrees never to be released hereby.
(and never to cause any other Loan Party toc) commence, voluntarily aid Without in any way, prosecute or cause to be commenced or prosecuted against way limiting any of the rights and remedies otherwise available to the Released Lender Parties Parties, Acquirer shall indemnify and hold harmless each Released Party from and against all Losses and claims, whether or not involving Third Party Claims, arising directly or indirectly from or in connection with (i) the assertion by or on behalf of Acquirer or any action of its Affiliates of any claim or other proceeding based upon matter purported to be released pursuant to this Section 9.8 and (ii) the assertion by any Third Party of any claim or demand against any Released Party, which claim or demand arises directly or indirectly from, or in connection with, any assertion by or on behalf of the Acquirer or any of the Loan its Affiliates against such Third Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty claims or obligation, express or implied, of the Released Lender Parties other matters purported to any Loan Party. The agreements set forth in be released pursuant to this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the ObligationsSection 9.8.
Appears in 2 contracts
Sources: Contribution Agreement (Eagle Rock Energy Partners L P), Contribution Agreement (Regency Energy Partners LP)
Release. In consideration Except to the extent of Claims against the Port, the City, or JEPA arising from any breach by the Port, the City and/or the JEPA, as applicable of its respective covenants and obligations expressly provided in any Convention Center Lease or the Project Implementation Agreement, or the Port’s representation and warranty set forth in Section 22.4.2 of the agreements Ground Lease or Section 18(d)(ii) of the Administrative Agent Site Lease, RIDA, on behalf of RIDA, its successors and the Lenders contained herein and for other good and valuable considerationassigns, the receipt and sufficiency of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquits, and fully and forever releases releases, acquits and discharges the Administrative Agent Public Entity Parties of and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective officers, employees, agents, attorneys, principals, advisors, directors and shareholdersfrom, and their respective heirshereby fully, legal representatives, successors and assigns (collectively, the “Released Lender Parties”) from forever waives and agrees not to assert any and all claimsClaims whatsoever, demandswhether known or unknown, causes direct or indirect, foreseeable or unforeseeable, absolute or contingent, that any RIDA Party, Hotel Operator or any of actionRIDA’s successors or assigns now has or may have or which may arise or be asserted in the future arising out of, obligationsdirectly or indirectly, remedies, suits, damages and liabilities or in any way connected with: (collectivelyi) any act or omission of the Port, the “Loan Party Claims”City, or JEPA (or any Person acting for or on behalf of the Port, the City, or JEPA or for whose conduct the Port, the City, or JEPA may be liable), whether or not such act be the active, passive or sole negligence of the Port, the City, or JEPA (or any Person acting for or on behalf of the Port, the City or JEPA or for whose conduct the Port, the City or JEPA may be liable), in connection with their prior ownership, maintenance, operation or use of the Site; (ii) arising out any condition of environmental contamination or related pollution at the Site (including, without limitation, any Pre-Existing Hazardous Material or other contamination or pollution of any soils, subsoil media, surface waters or ground waters at the Site and any clean-up or abatement order effecting the Site); (iii) to the Credit Agreementextent not already included in clause (ii) above, the other Loan Documentsprior, present or future existence, release or discharge, or threatened release, of any Hazardous Materials at the transactions contemplated thereinSite (including, whether without limitation, the release or discharge, or threatened release, of any Hazardous Materials into the air at the Site or into any soils, subsoils, surface waters or ground waters at the Site); (iv) the violation of, or noncompliance with, any Environmental Law or other applicable Law now knownor hereafter in effect, suspected however and whenever occurring; (v) the condition of the soil and groundwater at the Site; (vi) the Condition of the Site, including, without limitation, the condition of any improvements located on the Site including, without limitation, the structural integrity and seismic compliance of such improvements; (vii) any matters which would be shown on an accurate ALTA land survey of the Site (including, without limitation, all existing easements and encroachments, if any); (viii) all applicable Laws now or claimed, whether arising under common law, hereafter in equity effect; (ix) matters which would be apparent from a visual inspection of the Site; or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior (x) to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against extent not already covered by any of the Released Lender Parties any action foregoing clauses (i) through (ix) above, the use, maintenance, development, construction, ownership or other proceeding based upon any operation of the Loan Party Claims which may have arisen at Site by the Port, the City, or JEPA (or any time Person acting for or on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, behalf of the Released Lender Parties to Port, the City or JEPA or for whose conduct the Port, the City or JEPA may be liable) or any Loan Party. The agreements set forth predecessor(s)-in-interest in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination Site of the Loan Documents and Port, the repaymentCity, satisfaction or discharge of the ObligationsJEPA.
Appears in 2 contracts
Sources: Sublease Agreement, Sublease Agreement
Release. In consideration of the agreements of the Administrative Agent Lender's entering into this Amendment, Borrower hereby fully and the Lenders contained herein unconditionally releases and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquitsforever discharges Lender, and fully and forever releases and discharges the Administrative Agent and the Lenders and all its respective affiliates and subsidiaries of the Administrative Agent and the Lendersdirectors, their respective officers, employees, agentssubsidiaries, branches, affiliates, attorneys, principalsagents, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns and all persons, firms, corporations and organizations acting on any of their behalves (collectively, the “"Released Lender Parties”) "), of and from any and all claims, demandsallegations, causes of action, obligationscosts or demands and liabilities, remediesof whatever kind or nature, suitsfrom the beginning of the world to the date on which this Amendment is executed, damages and liabilities (collectivelywhether known or unknown, liquidated or unliquidated, fixed or contingent, asserted or unasserted, foreseen or unforeseen, matured or unmatured, suspected or unsuspected, anticipated or unanticipated, which any Borrower or any Subsidiary has, had, claims to have or to have had or hereafter claims to have or have had against the “Loan Party Claims”) arising out Released Parties by reason of any act or omission on the part of the Released Parties, or any of them, on account of or in any way related to the Credit Loan Agreement, including the other administration or enforcement of the Loan Documents, or the transactions contemplated therein, whether now known, suspected or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or Agreement occurring prior to the date on which this Amendment is executed, including all such loss or damage of any kind heretofore sustained or that may arise as a consequence of the dealings among the parties up to and including the date on which this AgreementAmendment is executed (collectively, all of the foregoing are the "Claims"). Each Loan Party covenants Borrower represents and agrees never to (and never to cause warrants that it has no knowledge of any claim by it or by any Subsidiary against the Released Parties or of any facts or acts or omissions of the Released Parties which on the date hereof would be the basis of a Claim by it or by any Subsidiary or any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges is not released hereby, and agrees Borrower represents and warrants that the Released Lender Parties have acted foregoing constitutes a full and complete release of all Claims by or on behalf of each Borrower and any Subsidiary. The inclusion of a release provision in good faith in negotiating and entering into this Agreement and that the provisions hereof are Amendment shall not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties give rise to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repaymentinference that but for such release, satisfaction or discharge of the Obligationsany Claim otherwise would exist.
Appears in 2 contracts
Sources: Loan Agreement (Noble Romans Inc), Loan Agreement (Noble Romans Inc)
Release. In consideration of (a) As an inducement to Buyer to enter into this Agreement and any agreements ancillary hereto to which it will be a party and consummate the agreements of the Administrative Agent transactions contemplated hereby and the Lenders contained herein thereby and for other good and valuable sufficient consideration, the receipt Seller, with the intention of binding itself and sufficiency any other Person to the extent claiming through the Seller (including the Seller’s Affiliates, Representatives, heirs, executors, administrators and assigns) (the “Releasors”), does hereby (effective as of which is hereby acknowledged, each Loan Party hereby and subject to the Closing) unconditionally and irrevocably remisesrelease, acquitsacquit and forever discharge Buyer and each of its past, present and future Affiliates and Representatives, including the Company, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries Persons acting by, through, under, or in concert with any of the Administrative Agent and the Lenders, their respective officers, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns such Persons (collectively, the “Released Lender PartiesReleasees”) ), of and from any and all claims, demandsActions, causes of action, obligations, remedies, suits, damages arbitrations, other proceedings, demands, debts, Contracts, promises, Liabilities and liabilities Losses of any nature whatsoever, known or unknown, suspected or unsuspected, fixed or contingent, direct, derivative, vicarious or otherwise, whether based in contract, tort, or other legal, statutory, or equitable theory of recovery, each as though fully set forth at length herein (collectively, a “Claim”), which the Releasors now have or may hereafter have against the Releasees, or any of them, by reason of any matter, cause, act, omission or thing whatsoever in any way arising out of, based upon, or relating to the Seller’s ownership of Sale Shares, the organization of the Company, or the operation of the Company’s business prior to the Closing (the “Loan Party Released Matters”); provided, however, that nothing set forth in this Section 8.9 shall release or otherwise affect (i) the right or ability of any the Seller to fully enforce its rights and remedies under this Agreement or any ancillary agreements hereto to which it is a party in accordance with the terms hereof and thereof, (ii) the right of any Releasor to indemnification or insurance benefits under any insurance policy in effect as of the date hereof maintained by or covering the Company or its operations, or from the Company (under its Constitutive Documents or under a Contract), with respect to such Releasor’s service as a director, officer, employee or agent of the Company, (iii) the right of any Releasor to unpaid compensation or other payment for services as an employee of or independent contractor to the Company or to receive benefits under any Company Plan, (iv) any rights of any Releasor arising from or related to fraud or criminal activity committed by any Releasee, (v) any rights of a Releasor in respect of any unknown claims that a Releasor may have arising out of any contractual or commercial relationship such Releasor may have with a Releasee other than the Company that is unrelated to this Agreement or the transactions contemplated hereby, or (vi) any rights of any Releasor that, under applicable Law, cannot be waived. The Seller expressly consents that this general release shall be given full force and effect according to each and all of its express terms and provisions, including those relating to unknown and unsuspected Released Matters (notwithstanding any Law that expressly limits the effectiveness of a general release of unknown, unsuspected or unanticipated Claims”).
(b) The Seller represents and warrants to Buyer that there has been no assignment or other transfer of any interest in any Claim arising out of or related to the Credit Agreement, the other Loan Documents, or the transactions contemplated therein, whether now known, suspected or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims Released Matters which the Seller may have arisen at against any time on of the Releasees, and the Seller agrees to indemnify and hold the Releasees harmless from, and compensate and reimburse them for, any Liabilities, Claims or prior Losses incurred as a result of any Person asserting any such assignment or transfer of any rights or Claims under any such assignment or transfer from such party.
(c) The Seller represents and warrants to Buyer that neither it nor its Affiliates has filed, and the Seller shall not, and shall cause its Affiliates not to, file or otherwise seek to assert or assist any other Person in filing or otherwise seeking to assert, nor as of the date hereof has, any Claim arising out of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of based upon any duty or obligation, express or implied, of the Released Lender Parties Matters against any of the Releasees. The Seller agrees that if it hereafter commences, joins in, or in any manner seeks relief through any Action arising out of, based upon, or relating to any Loan Party. The agreements set forth of the Claims released hereunder, or in this Paragraph 6 shall survive any manner asserts against the termination Releasees any of the Claims released hereunder, including through any motion to reconsider, reopen or expiration appeal the dismissal of this Agreement the Action, and the termination of Releasees are the Loan Documents and prevailing party in such Action, then the repayment, satisfaction Seller shall pay to the Releasees against whom such Claim(s) is asserted all Losses incurred by such Releasees in defending or discharge of the Obligationsotherwise responding to such Claim.
Appears in 2 contracts
Sources: Share Purchase Agreement (Odyssey Therapeutics, Inc.), Share Purchase Agreement (Odyssey Therapeutics, Inc.)
Release. In consideration of the agreements of the Administrative Agent and the Lenders Pass Creek contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each Borrower and Parent (collectively, the “Loan Party Parties”) hereby unconditionally and irrevocably remises, acquits, and fully and forever releases and discharges the Administrative Agent and the Lenders Pass Creek and all respective affiliates and subsidiaries of the Administrative Agent and the LendersPass Creek, their respective officers, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns (collectively, the “Released Lender Parties”) from any and all claims, demands, causes of action, obligations, remedies, suits, damages and liabilities (collectively, the “Loan Party Claims”) arising out of or related to the Credit Agreement, the other Loan Documents, or the transactions contemplated therein, whether now known, suspected or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this AgreementAmendment. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this AgreementAmendment. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement Amendment and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any such Loan Party. The agreements of each Loan Party set forth in this Paragraph 6 Section 15 shall survive the termination or expiration of this Agreement Amendment and the termination of the Loan Documents and the repayment, satisfaction or discharge of the Obligations.
Appears in 2 contracts
Sources: Credit Agreement, Credit Agreement (EnerJex Resources, Inc.)
Release. In consideration of (a) For value received, including without limitation, the agreements of the Administrative Agent and the Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledgedin this Agreement, each Loan Party hereby unconditionally Obligor, on behalf of itself and irrevocably remises, acquitsits successors and assigns, and fully its current and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lendersformer shareholders, their respective members, parents, subsidiaries, divisions, affiliates, directors, officers, employees, agents, attorneys, principalsadvisors, consultants, and other representatives (collectively, the “Releasing Parties”), hereby absolutely, unconditionally, and irrevocably releases and forever discharges the Agent and the Lenders, and their current and former shareholders, members, parents, subsidiaries, divisions, affiliates, directors, officers, employees, agents, attorneys, advisors, directors and shareholdersconsultants, and their respective heirs, legal representatives, successors and assigns other representatives (collectively, the “Released Lender Parties”) of and from any and all claimsclaims (including, demandswithout limitation, all counterclaims, crossclaims, defenses, rights of set-off and recoupment), actions, causes of action, obligationsacts and omissions, remediescontroversies, demands, suits, damages and other liabilities (collectively, the “Loan Party Claims”) of every kind or nature whatsoever, both in law and in equity, known or unknown, which any Releasing Party has or ever had against the Released Parties prior to, through, and including this date, including, without limitation, Claims arising out of or related to the Credit Agreementexisting financing arrangements between the Borrower(s) and the Lenders and any Claim of breach of the duty of good faith and fair dealing based on, among other things, the other Released Parties’ exercise of discretion under the Loan Documents. The Loan Parties hereby represent and warrant that, on behalf of themselves and their successors, assigns and legal representatives, they have not sold, conveyed, assigned, pledged, hypothecated, or otherwise encumbered all or any part of the transactions contemplated thereinClaims released in this Section. The Loan Parties hereby acknowledge and agree that, whether now knownon behalf of themselves and their successors, suspected or claimedassigns and legal representatives, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have at all times acted in good faith in negotiating with regard to the consummation and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination administration of the Loan Documents Documents. Each Obligor acknowledges and the repaymentagrees that, satisfaction or discharge as of the Obligationsdate hereof, it does not have any Claim against the Released Parties, each of which such Obligor, on behalf of itself and its successors, assigns and legal representatives, hereby expressly waives. Each Obligor hereby confirms that the foregoing waiver and release is an informed waiver and release and is being freely given.
(b) Each Obligor further agrees, on behalf of itself and its successors, assigns, and legal representatives, not to commence, institute, or prosecute any lawsuit, action or other proceeding, whether judicial, administrative or otherwise, to collect or enforce any Claim. If any Obligor or any of its successors, assigns, or legal representatives violates the foregoing covenant, the Obligors hereby agree, on behalf of themselves and their successors and assigns, to jointly and severally pay, in addition to any damages as any Released Party may sustain as a result of such violation, all attorneys fees and costs incurred by any Released party as a result of such violation.
Appears in 2 contracts
Sources: Loan and Security Agreement (Americas Carmart Inc), Loan and Security Agreement (Americas Carmart Inc)
Release. In consideration (a) Each of the agreements of Subscribing Parties hereby irrevocably and unconditionally:
(i) releases the Administrative Agent Company and the Lenders contained herein and for other good and valuable considerationits officers, the receipt and sufficiency of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquits, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective officersdirectors, employees, agents, attorneys, principals, advisors, directors agents and shareholdersAffiliates, and their respective heirseach of its predecessors in interest, legal representativessuccessors, successors heirs and assigns (collectivelyassigns, the “Released Lender Parties”) from any and all claims, rights, damages, demands, causes of actionaction or liabilities of any nature whatsoever, obligationsknown or unknown, remediescontingent or fixed, suitswhether due or to become due, damages and liabilities (collectivelyother than for any matter specifically contemplated by this Agreement, the “Loan that any Subscribing Party Claims”) arising out had, now has or may have at any future time by reason of any cause, matter or thing whatsoever, directly or indirectly, related to the Credit Agreement, the other Loan Documents, any action taken or the transactions contemplated therein, whether now known, suspected or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time omitted to be taken by such persons on or prior to the date hereof including, without limitation, any alleged breaches of fiduciary duty or other act or omission relating to the proposal made to NetLive by the Zodiac Group, Inc. or the NetLive Communication, Inc. Performance Share Program Trust and Plan; and
(ii) covenants not to ▇▇▇ the Company and its officers, directors, employees, agents and Affiliates, and each of its predecessors in interest, successors, heirs and assigns, of, from or with respect to any and all claims, rights, damages, demands, causes or liabilities of any nature whatsoever, known or unknown, contingent or fixed, whether due or to become due, other than for any matter arising out of this Agreement. Each Loan , that any Subscribing Party covenants and agrees never has had, now has or may have at any future time by reason of any cause, matter or thing whatsoever, directly or indirectly, related to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute action taken or cause omitted to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time taken by such persons on or prior to the date hereof including, without limitation, any alleged breaches of fiduciary duty or other act or omission relating to the proposal made to NetLive by the Zodiac Group, Inc. or the NetLive Communication, Inc. Performance Share Program Trust and Plan.
(b) The Company hereby irrevocably and unconditionally:
(i) releases each of the Subscribing Parties and its or his officers, directors, employees, agents, trustees and Affiliates, and each of its or his predecessors in interest, successors, heirs and assigns, from any and all claims, rights, damages, demands, causes of action or liabilities of any nature whatsoever, known or unknown, contingent or fixed, whether due or to become due, other than for any matter specifically contemplated by this Agreement, that the Company had, now has or may have at any future time by reason of any cause, matter or thing whatsoever, directly or indirectly, related to any action taken or omitted to be taken by such persons on or prior to the date hereof including, without limitation, any alleged breaches of fiduciary duty or other act or omission relating to the proposal made to NetLive by the Zodiac Group, Inc., the NetLive Communication, Inc. Performance Share Program Trust and Plan or the formation of a group for purposes of commencing a consent solicitation of the Company's shareholders; and
(ii) covenants not to ▇▇▇ each of the Subscribing Parties and its or his officers, directors, employees, agents, trustees and Affiliates, and each of its or his predecessors in interest, successors, heirs and assigns, of, from or with respect to any and all claims, rights, damages, demands, causes or liabilities of any nature whatsoever, known or unknown, contingent or fixed, whether due or to become due, other than for any matter arising out of this Agreement. Each Loan Party acknowledges and agrees , that the Released Lender Parties Company has had, now has or may have acted in good faith in negotiating at any future time by reason of any cause, matter or thing whatsoever, directly or indirectly, related to any action taken or omitted to be taken by such persons on or prior to the date hereof including, without limitation, any alleged breaches of fiduciary duty or other act or omission relating to the proposal made to NetLive by the Zodiac Group, Inc., the NetLive Communication, Inc. Performance Share Program Trust and entering into this Agreement and Plan or the formation of a group for purposes of commencing a consent solicitation of the Company's shareholders.
(c) In the event that any one or more of the provisions hereof are of this Section 4 shall be or become invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in breach be affected thereby. The invalidity, illegality or violation unenforceability of any duty or obligation, express or implied, provision of this Section 4 shall have no effect on the Released Lender Parties to enforceability of any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration provision of any of this Agreement and the termination of the Loan Documents and the repaymentshall not give rise to any claim, satisfaction whether for damages, rescission, restitution or discharge of the Obligationsotherwise.
Appears in 2 contracts
Sources: Settlement and Voting Agreement (Netlive Communications Inc), Settlement and Voting Agreement (May Davis Group Inc /Adv)
Release. In consideration (a) Seller hereby, for itself and on behalf of the agreements all of the Administrative Agent its past and the Lenders contained herein present Affiliates and for other good Representatives, and valuable considerationeach of their respective beneficiaries, Affiliates, successors, assigns and Representatives (collectively, with Seller, the receipt “Releasors”), fully and sufficiency unconditionally releases, acquits and forever discharges Buyer and each of which is hereby acknowledgedits past, each Loan Party hereby unconditionally present and irrevocably remises, acquitsfuture Affiliates and Representatives, and fully each of their respective beneficiaries, Affiliates, successors, assigns and forever releases and discharges Representatives (collectively, the Administrative Agent and the Lenders “Releasees”), from any and all respective affiliates manner of Actions, Liabilities debts, damages, costs, losses, expenses (including attorneys’ and subsidiaries other professional fees and expenses), sums of money, accounts, bonds, bills, covenants, compensation, contracts, controversies, omissions, promises, variances, trespasses, judgments, executions or other relief, whether known or unknown, matured or unmatured, suspected or unsuspected, fixed, contingent or otherwise, whether in law or equity, which such Releasor ever had as of or prior to the Administrative Agent and the Lenders, their respective officers, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns date hereof against any Releasee (collectively, the “Released Lender PartiesMatters”). Notwithstanding anything to the contrary in this Section 9.17(a), Actions expressly permitted to be brought under the terms of this Agreement or any Other Agreement and matters that cannot be released as a matter of Law are expressly excluded from “Released Matters”.
(b) Seller, on behalf of itself and each of the Releasors, hereby irrevocably covenants to refrain from, directly or indirectly, asserting any claim or demand or commencing, instituting or causing to be commenced, any Action of any kind against any Releasee, based upon, in connection with or arising from any Released Matter or other matter released or purported to be released pursuant to Section 9.17(a).
(c) Seller represents and agrees that it (i) fully understands its rights to discuss all claims, demands, causes of action, obligations, remedies, suits, damages and liabilities (collectively, the “Loan Party Claims”) arising out of or related to the Credit Agreement, the other Loan Documents, or the transactions contemplated therein, whether now known, suspected or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date aspects of this Agreement. Each Loan Party covenants , including this Section 9.17, with its attorneys, (ii) has availed itself of this right, (iii) has carefully read and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any fully understands all of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date terms of this Agreement. Each Loan Party acknowledges , including this Section 9.17, (iv) has not transferred or assigned any rights or claims that it is hereby purporting to release herein, (v) is voluntarily, and agrees that the Released Lender Parties have acted in good faith in negotiating with proper and full authority, entering into this Agreement Agreement, and that (vi) has had a reasonable period of time to consider the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and this Section 9.17, and that it has considered them carefully before executing this Agreement.
(d) Seller acknowledges that the termination Laws of many states, including California, provide substantially the following: “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, AND THAT IF KNOWN BY HIM OR HER WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY.” Seller acknowledges that such provisions are designed to protect a person or entity from waiving claims that he, she or it does not know exist or may exist. Nonetheless, S▇▇▇▇▇ agrees, on behalf itself and each of the Loan Documents Releasors, that Seller, on behalf of itself and the repaymentReleasors, satisfaction shall be deemed to waive any such provision.
(e) The Parties acknowledge and agree that a breach of any other agreement between the Parties or discharge any of the ObligationsReleasees shall not affect the validity of this Section 9.17. Without limiting the foregoing, in the event of any claim, judgment, award, or order in favor of any Party, now or at any time in the future, regardless of the basis therefor, this Section 9.17 shall not be affected in any manner by such claim, judgment, award, or order, and each Party hereby irrevocably renounces, relinquishes, waives, abandons, and otherwise agrees that no such claim, judgment, award, or order shall in any way affect this Section 9.17.
Appears in 2 contracts
Sources: Asset Purchase Agreement (Laser Photonics Corp), Asset Purchase Agreement (Laser Photonics Corp)
Release. (a) In consideration for the Purchase Price, as of and following the agreements Closing Date, Seller, on behalf of itself, its predecessors and assigns and its Affiliates (which shall not include the Administrative Agent Company and the Lenders contained herein and for other good and valuable considerationOther Seller Subsidiaries) (collectively, the receipt “Releasing Parties”) knowingly, voluntarily, irrevocably and sufficiency of which is hereby acknowledgedunconditionally releases, each Loan Party hereby unconditionally and irrevocably remises, acquitsforever discharges, and fully covenants not to ▇▇▇ the Purchaser and forever releases and discharges its Affiliates (including Parent, the Administrative Agent Company and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective officers, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns Other Seller Subsidiaries) (collectively, the “Released Lender Parties”) from or for any and all claims, demands, causes of action, obligations, remediesdemands, suits, damages debts, obligations, liabilities, damages, losses, costs and liabilities expenses (collectivelyincluding attorneys’ fees) of every kind or nature whatsoever, known or unknown, actual or potential, suspected or unsuspected, fixed or contingent, that such Releasing Party has or may have, now or in the future, arising out of, relating to, or resulting from any act or omission, error, negligence, breach of contract, tort, violation of law, matter or cause whatsoever from the beginning of time to the Closing Date (“Loan Party ClaimsReleased Causes of Action”) ); provided, however, that none of the releases in this Section 5.12 shall limit or otherwise affect the respective rights and obligations of the parties hereto with regard to any rights, claims, demands, actions or causes of action arising out of this Agreement or related any Related Agreement.
(b) It is further agreed and understood that the release set forth in this Section 5.12 is a full and final release of all Released Causes of Action whether known or unknown, fixed or contingent, manifested or unmanifested. Each Releasing Party hereby irrevocably covenants to the Credit Agreementrefrain from, the other Loan Documentsdirectly or indirectly, asserting any Released Causes of Action, or the transactions contemplated thereincommencing, whether now knowninstituting, suspected or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause causing to be commenced commenced, any suit, action, claim, investigation or prosecuted proceeding of any kind against any of the Released Lender Parties any action or other proceeding Party, based upon any matter released hereby. Each Releasing Party hereby waives the protection of any provision of any law that would operate to preserve claims that are unknown as of the Loan Party Claims which may have arisen Closing Date or at any time on or prior to the date of this Agreementother time. Each Loan Releasing Party specifically waives the benefit of the provisions of Section 1542 of the Civil Code of California which provides as follows: A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY.
(c) As to each and every Released Causes of Action released hereunder, each Releasing Party also waives the benefit of each other similar provision of applicable Law, if any, pertaining to general releases after having been advised by its legal counsel with respect thereto. Each Releasing Party acknowledges and agrees that the release made in this Section 5.12 is a material inducement to each Released Lender Parties have acted in good faith in negotiating and entering Party’s decision to enter into this Agreement and to consummate the transactions contemplated hereby. Each Releasing Party represents that the provisions hereof are it has not in breach made any assignment or violation transfer of any duty or obligation, express or implied, Released Causes of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the ObligationsAction.
Appears in 2 contracts
Sources: Membership Interest Purchase Agreement (Montrose Environmental Group, Inc.), Membership Interest Purchase Agreement (Montrose Environmental Group, Inc.)
Release. In To induce Buyer to enter into this Extension Agreement, and in consideration of the agreements of the Administrative Agent and the Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledgedthereof, each Loan Party hereby unconditionally of Seller and irrevocably remisesGuarantor, acquitson behalf of itself and its affiliates and its and their successors and assigns (the “Seller Parties”), jointly and fully severally releases, acquits and forever releases discharges Buyer and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lendersits subsidiaries, their respective parents, affiliates, officers, directors, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representativespartners, successors and assigns assigns, both present and former (collectively, the “Released Lender Buyer Parties”) from any and all claims, demandsmanner of actions, causes of action, obligations, remedies, suits, damages debts, controversies, damages, judgments, executions, claims (including without limitation crossclaims, counterclaims and liabilities (collectivelyrights of set-off and recoupment) and demands whatsoever, the “Loan Party Claims”) arising out of whether known or related to the Credit Agreement, the other Loan Documents, or the transactions contemplated thereinunknown, whether now known, suspected existing or claimedhereafter arising, whether arising under common lawasserted or unasserted, in contract, tort, law or equity which Seller or under statute, which any Loan other Seller Party ever had has or now has against the Released Lender Parties which may have arisen at against any time of the Buyer Parties by reason of any action, failure to act, matter or thing whatsoever arising from or based on or facts occurring prior to the date hereof, including but not limited to any claim or defense that relates to, in whole or in part, directly or indirectly, (i) the making or administration of this the Transactions under the Repurchase Agreement. Each Loan Party covenants , the Transaction Documents, the Security Documents or the Transfer Documents, including without limitation, any such claims and agrees never to (and never to cause defenses based on fraud, mistake, duress, usury or misrepresentation, or any other Loan Party toclaim based on so-called “lender liability theories”, (ii) commenceany covenants, voluntarily aid agreements, duties or obligations set forth in the Repurchase Agreement or any wayTransaction Document, prosecute Security Document or cause to be commenced Transfer Document, (iii) any actions or prosecuted against omissions of any of the Released Lender Buyer Parties in connection with the initiation or continuing exercise of any action right or remedy contained in the Repurchase Agreement or any Transaction Document, Security Document or Transfer Document or at law or in equity, (iv) lost profits, (v) loss of business opportunity, (vi) increased financing costs, (vii) increased legal or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on administrative fees, or prior (viii) damages to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the Obligationsbusiness reputation.
Appears in 2 contracts
Sources: Master Repurchase Agreement (KBS Real Estate Investment Trust, Inc.), Master Repurchase Agreement (KBS Real Estate Investment Trust, Inc.)
Release. In consideration By signing this Agreement, but effective as of the agreements consummation of the Administrative Agent Recapitalization in accordance with the terms hereof and assuming all convertible debtholders are signatory hereto and all stockholders holding in excess of 2/3rds of the Lenders contained herein outstanding shares of Series A Preferred Stock, 2/3rds of the outstanding shares of Series B Preferred Stock and for other good and valuable consideration, 51% of the receipt and sufficiency shares of which is hereby acknowledgedCommon Stock of the Company are signatory hereto, each Loan Party hereby holder of Convertible Debt and each Stockholder shall be deemed to have unconditionally and irrevocably remisesreleased, acquits, and fully acquitted and forever releases discharged the Company together with its officers, directors, stockholders, agents, bankers, representatives, note holders, attorneys and discharges the Administrative Agent and the Lenders and all investment bankers, together with their respective affiliates and subsidiaries agents, both past and present, from any claim, demand, obligation or liability, direct or indirect, known or unknown, arising from any act or omission from the beginning of time up to the Recapitalization Date (a "Claim") except as hereinafter provided in this Section 5.6. Without limiting the generality of the Administrative Agent and the Lendersforegoing, their respective officersit is understood that this release shall include any Claim arising from any statement or representation, employees, agents, attorneys, principals, advisors, directors and shareholdersverbal or written, and their respective heirsany act or omission made in connection with any offer or sale of any security. However, legal representatives, successors and assigns (collectively, the “Released Lender Parties”) from any and all claims, demands, causes of action, obligations, remedies, suits, damages and liabilities (collectively, the “Loan Party Claims”) arising out of or related notwithstanding anything in this Agreement to the Credit Agreementcontrary, none of J▇▇▇▇ ▇. ▇▇▇▇▇, JD Investments, Inc. or Sonoran Pacific Resources, Inc. or any of their affiliates shall be deemed to have released, acquitted or discharged the other Loan Documents, Company with respect to any claim that it may now or the transactions contemplated therein, whether now known, suspected or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on hereafter have, including only any claim or prior to right under any applicable security agreement or security interest that, as of the date of this Agreement. Each Loan Party covenants and agrees never , relates to:
(i) the credit card or cards issued to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any for the benefit of the Released Lender Parties any action or other proceeding based upon any Company the performance of the Loan Party Claims obligations of the Company with respect to which may have arisen at any time on or prior been guaranteed by J▇▇▇▇ ▇. ▇▇▇▇▇,
(ii) the line of credit in the amount of $500,000 extended to the date of this AgreementCompany by Western State Bank that has been guaranteed by J▇▇▇▇ ▇. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement ▇▇▇▇▇ and the termination security agreements and other documentation executed with respect thereto, and
(iii) The financing in an amount of $155,000 provided to the Loan Documents Company by Genesis Finance Corporation that has been guaranteed by J▇▇▇▇ ▇. ▇▇▇▇▇ and the repayment, satisfaction or discharge of the Obligationssecurity agreements and other documentation executed with respect thereto.
Appears in 2 contracts
Sources: Recapitalization Agreement (iMedicor), Recapitalization Agreement (iMedicor)
Release. In consideration (a) Effective as of the agreements Closing, the Seller, for itself and on behalf its Affiliates, hereby releases and forever discharges the Companies and their directors, managers, officers, employees, agents and Affiliates from any and all any rights, Claims, demands, debts, Losses, costs, expenses, attorneys’ fees, obligations, promises, covenants, agreements, contracts, charges, suits, proceedings, actions or causes of actions of any kind, known or unknown, suspected or unsuspected, at law or in equity, that the Seller or any of its Affiliates now has, has ever had or may hereafter have against any such released party arising contemporaneously with or prior to the Closing or on account of or arising out of any matter, cause or event occurring contemporaneously with or prior to the Closing; provided, however, that nothing contained in this Section 13.12 shall operate to release any claim by the Seller arising out of or relating to this Agreement.
(b) Effective as of the Administrative Agent and the Lenders contained herein and for other good and valuable considerationClosing, the receipt and sufficiency Purchaser, on behalf of which is the Companies, hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquits, and fully releases and forever releases and discharges the Administrative Agent Seller and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lendersits directors, their respective managers, officers, employees, agents, attorneys, principals, advisors, directors Subsidiaries and shareholders, and their respective heirs, legal representatives, successors and assigns (collectively, the “Released Lender Parties”) Affiliates from any and all claimsany rights, Claims, demands, causes of actiondebts, Losses, costs, expenses, attorneys’ fees, obligations, remediespromises, covenants, agreements, contracts, charges, suits, damages and liabilities proceedings, actions or causes of actions of any kind, known or unknown, suspected or unsuspected, at law or in equity, that the Companies now have, have ever had or may hereafter have against any such released party arising contemporaneously with or prior to the Closing or on account of or arising out of any matter, cause or event occurring contemporaneously with or prior to the Closing; provided, however, that nothing contained in this Section 13.12 shall operate to release any claim by the Purchaser or its Affiliates (collectivelyincluding, after the Closing, the “Loan Party Claims”Companies) arising out of or related relating to the Credit this Agreement, the other Loan DocumentsTransaction Documents or any claim relating to fraud, commission of a felony, gross negligence, willful misconduct or the transactions contemplated thereinbreach of any employment agreements or policies.
(c) The Seller, whether now knownfor itself and on behalf its Affiliates, suspected or claimedon the one hand, whether arising under common lawand the Purchaser, in equity or under statutefor itself and on behalf of its Affiliates, which on the other hand, waives any Loan Party ever had or now has against and all rights (to the Released Lender Parties which extent permitted by Requirements of Law) that may have arisen at any time on or prior to the date effect of this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of limiting the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements releases as set forth in this Paragraph 6 shall survive Section 13.12. In this regard, the termination or expiration of this Agreement Seller, for itself and on behalf its Affiliates, on the one hand, and the termination Purchaser, for itself and on behalf of its Affiliates, on the other hand, waives its rights, to the extent permitted by Requirements of Law, to any benefits of the Loan Documents and the repayment, satisfaction or discharge provisions of Section 1542 of the ObligationsCalifornia Civil Code or any other similar Requirements of Law that may have the effect of limiting the releases set forth this Section 13.12. Section 1542 of the California Civil Code provides: [Signature page follows.]
Appears in 2 contracts
Sources: Stock Purchase Agreement (API Technologies Corp.), Stock Purchase Agreement (Measurement Specialties Inc)
Release. In consideration Borrower, on its behalf and, as applicable, on behalf of the agreements of the Administrative Agent and the Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquits, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective Borrower’s officers, employeesdirectors, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirsAffiliates, legal representativesSubsidiaries, successors and assigns (collectively, the “Released Releasing Parties”), hereby represents and warrants that such Releasing Parties have no claims, counterclaims, setoffs, actions or causes of action, damages or liabilities of any kind or nature whatsoever, whether in law or in equity, in contract or in tort, whether now accrued or hereafter maturing (collectively, “Claims”) against Lenders or the Administrative Agent, their direct or indirect Affiliates, or any of the foregoing’s respective directors, officers, employees, attorneys and legal representatives, or the heirs, administrators, successors or assigns of any of them (collectively, “Lender Parties”) to the extent that any such Claim directly or indirectly arises out of, is based upon or is in any manner connected with, any Prior Related Event. Borrower, on its behalf and, as applicable, on behalf of the other Releasing Parties, voluntarily releases and forever discharges all Lender Parties from any and all claimsClaims, demandswhether known or unknown, causes of to the extent that any such Claim directly or indirectly arises out of, is based upon or is in any manner connected with any Prior Related Event. “Prior Related Event” means any transaction, event, circumstance, action, obligationsfailure to act, remediesoccurrence of any type or sort, suitswhether known or unknown, damages which occurred, existed, was taken, was permitted or begun in accordance with, pursuant to or by virtue of: (a) any of the terms of any Loan Document or this Amendment, (b) any actions, transactions, matters or circumstances related hereto or to any Loan Document, (c) the conduct of the relationship between any Lender Party and liabilities (collectively, the “Loan Party Claims”) arising out of or related to the Credit Agreement, the other Loan DocumentsBorrower and its Subsidiaries, or the transactions contemplated therein, whether now known, suspected (d) any other actions or claimed, whether arising under common lawinactions by any Lender Party, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time each case on or prior to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the ObligationsEffective Date.
Appears in 1 contract
Release. In consideration of the agreements of the Administrative Agent and the Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each Each Loan Party hereby unconditionally and irrevocably remiseswaives, acquits, and fully discharges and forever releases Agent, Lender and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lendersits affiliates, their respective officers, directors, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns (collectively, the “Released Lender Parties”) of and from any and all claims, demands, actions, causes of action, obligationsdefenses, remediescounterclaims and offsets, suitsof whatever kind or nature, damages and liabilities in law or in equity, which against the Released Parties (collectivelyor any of them) they or any of them has had, the “Loan Party Claims”) arising out now have, or which they or any of them hereafter may have, for, upon, or by reason of any facts or circumstances under or related to the Existing Credit Agreement, Agreement and the other Loan Documents, or Documents arising at any time up through and including the date of the execution and delivery of this First Amendment (but excluding this First Amendment and the transactions contemplated therein, whether now known, suspected or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this Agreementhereby). Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commenceunderstands, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted release set forth above may be pleaded as a full and complete defense and may be used as a basis for an injunction against 145796505v13 any action, suit or other proceeding which may be instituted, prosecuted or attempted in good faith in negotiating and entering into this Agreement and that breach of the provisions hereof are of such release. Each Loan Party agrees that no fact, event, circumstance, evidence or transaction which could now be asserted, or which may hereafter be discovered shall affect in any manner the final and unconditional nature of the release set forth above. Each Loan Party and their respective successors and assigns, each hereby absolutely, unconditionally and irrevocably, covenant and agree with Agent, Lender and each of the other Released Parties that it will not sue (at law, in breach equity, in any regulatory proceeding or violation otherwise) Agent, Lender or any of the other Released Parties on the basis of any duty claim, demand, action, cause of action, defense, counterclaim or obligationoffset released, express or implied, of remised and discharged by the Released Lender Loan Parties pursuant to the above release. If any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents Parties violates the foregoing covenant, without limiting any other rights and remedies of Agent and Lender, the repaymentLoan Parties agree to pay, satisfaction or discharge in addition to such other damages as any Released Party may sustain as a result of the Obligationssuch violation(s), all reasonable and documented attorneys’ fees and costs incurred by any Released Party as a result thereof.
Appears in 1 contract
Release. In consideration (a) Executive acknowledges, understands and agrees that (i) she has no knowledge (actual or otherwise) of the agreements of the Administrative Agent any complaint, claim or action that she may have against Employer and the Lenders contained herein and for other good and valuable considerationits respective owners, the receipt and sufficiency of which is hereby acknowledgedstockholders, each Loan Party hereby unconditionally and irrevocably remisespredecessors, acquitssuccessors, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lendersassigns, their respective directors, officers, employees, agentsdivisions, attorneyssubsidiaries, principalsaffiliates (and directors, advisorsofficers and employees of such companies, directors divisions, subsidiaries and shareholdersaffiliates) and all persons acting by, and their respective heirsthrough, legal representatives, successors and assigns under or in concert with any of them (collectively, the “Released Lender PartiesReleasees”), or any of them; (ii) Executive hereby irrevocably and unconditionally waives, releases, settles (gives up), acquits and forever discharges the Releasees from any and all charges, complaints, claims, demandsliabilities, obligations, promises, agreements, controversies, damages, actions, causes of action, obligations, remedies, suits, damages rights, demands, costs, losses, debts and liabilities expenses (including attorneys’ fees and costs actually incurred) of any nature whatsoever, known or unknown, suspected or unsuspected, including, but not limited to, any claims for salary, salary increases, alleged promotions, expanded job responsibilities, constructive discharge, misrepresentation, bonuses, equity awards of any kind, severance payments, unvested retirement benefits, vacation entitlements, benefits, moving expenses, business expenses, attorneys fees, any claims which she may have under any contract or policy (whether such contract or policy is written or oral, express or implied), rights arising out of alleged violations of any covenant of good faith and fair dealing (express or implied), any tort, any legal restrictions on Employer’s right to terminate employees, and any claims which she may have based upon any Federal, state or other governmental statute, regulation or ordinance, including, without limitation, Title VII of the Civil Rights Act of 1964, as amended, the Federal Age Discrimination In Employment Act of 1967, as amended (“ADEA”), the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), the American with Disabilities Act, as amended (“ADA”), the Civil Rights Act of 1991, as amended, the Rehabilitation Act of 1973, as amended, the Older Workers Benefit Protection Act, as amended (“OWBPA”), the Worker Adjustment Retraining and Notification Act, as amended (“WARN”), the Occupational Safety and Health Act of 1970 (“OSHA”), the Family and Medical Leave Act of 1993, as amended (“FMLA”), the Genetic Information Nondiscrimination Act of 2008, the ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Fair Pay Act of 2009, the New York State Human Rights Law, the New York City Human Rights Law, the New York Labor Law (including, but not limited to, New York Labor Law §§ 740 et seq.), the New York Wage Theft Prevention Act, the New York Equal Pay Law, as amended, the New York Civil Rights Law, as amended, the New York Rights of Persons With Disabilities Law, as amended, and the New York Equal Rights Law, as amended, the ▇▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002, as amended (“SOX”), and Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”), that Executive now has, or has ever had, or ever shall have, against each or any of the Releasees, by reason of any and all acts, omissions, events, circumstances or facts existing or occurring up through the date of Executive’s execution hereof that directly or indirectly arise out of, relate to, or are connected with, Executive’s services to, or employment by Employer (any of the foregoing being a “Claim” or, collectively, the “Loan Party Claims”); and (iii) arising out of or related to the Credit Agreement, the other Loan DocumentsExecutive will not now, or in the transactions contemplated thereinfuture, whether now knownaccept any recovery (including monetary damages or any form of personal relief, suspected except with respect to any monetary recovery under the ▇▇▇▇-▇▇▇▇▇ ▇▇▇▇ Street Reform and Consumer Protection Act and the ▇▇▇▇▇▇▇▇-▇▇▇▇▇ Act or claimed, whether arising under common lawany other law or where a jurisdiction prohibits a waiver of individual relief), in equity any forum, nor will she pursue or under statute, which institute any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted Claim against any of the Released Lender Parties Releasees.
(b) Notwithstanding the foregoing, Executive has not waived and/or relinquished any action rights she may have to file any Claim that cannot be waived and/or relinquished pursuant to applicable laws, including the right to file a charge or participate in any investigation with the Equal Employment Opportunity Commission or any other proceeding based upon governmental or administrative agency that is responsible for enforcing a law on behalf of the government. Executive also acknowledges and understands that because Executive is waiving and releasing all Claims for monetary damages and any other form of personal relief per paragraph 1(a), Executive may only seek and receive non-personal forms of relief through any such Claim. Moreover, this General Release shall not apply to (i) any of the Loan Party Claims which obligations of Employer or any other Releasee under the Agreement, or under any benefit plans, contracts, documents or programs described or referenced in the Agreement, (ii) any rights Executive may have arisen at to obtain contribution or indemnity against Employer or any time on other Releasee pursuant to contract Employer’s certificate of incorporation and by-laws or prior to otherwise, and (iii) any Claim for reimbursement of ordinary and necessary business expenses incurred by the date of this Agreement. Each Loan Party acknowledges and agrees that Executive during the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, course of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the ObligationsExecutive’s employment.
Appears in 1 contract
Release. In consideration of the agreements of the Administrative Agent and the Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each Each Loan Party hereby unconditionally and irrevocably remises, releases, acquits, and fully satisfies and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, and each of its and their Affiliates, and all of their respective officersagents, employees, agentsofficers, directors, predecessors, attorneys, principals, financial advisors, directors and shareholders, other professionals and their respective heirs, legal representatives, successors and assigns all others acting on behalf of or at the direction of the Administrative Agent (collectively, solely in its capacity as Administrative Agent) or the Lenders (the “Released Lender Parties”) ), of and from any and all claims, demandsmanner of actions, causes of action, suit, debts, accounts, covenants, contracts, controversies, agreements, variances, damages, judgments, claims, liabilities, obligations, remediesaffirmative defenses, suitscounterclaims, damages setoffs and liabilities (collectivelydemands whatsoever, the “whether known or unknown, foreseen or unforeseen, asserted or unasserted, in law, equity or otherwise, whether for tort, fraud, contract, violations of federal or state laws, or otherwise, that any Loan Party Claims”) would have been legally entitled to assert, based on, relating to, or in any manner arising from, in whole or in part, which arise out of or are related to the Existing Credit Agreement or the Amended Credit Agreement, the other Loan Documents, the Obligations or the transactions contemplated thereinCollateral (any of the foregoing, whether now knowna “Released Claim” and collectively, suspected or claimedthe “Released Claims”). Without limiting the generality of the foregoing, whether arising under common law, in equity or under statute, which any each Loan Party ever had absolutely, unconditionally and irrevocably waives and affirmatively agrees not to allege or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against otherwise pursue any of the Released Lender Parties Claims, or any action defenses, affirmative defenses, counterclaims, claims, causes of action, setoffs or other proceeding based upon rights they have or may have under, or in connection with, any Released Claim released and/or discharged by the Loan Parties pursuant to this Section 12. The foregoing release, covenant and waivers of this Section 12 shall survive and remain in full force and effect regardless of the consummation of the transactions contemplated hereby, the repayment or prepayment of any of the Loan Party Claims which may have arisen at any time on Loans, or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Credit Agreement, this Amendment, any other Loan Documents Document or any provision hereof or thereof. [Remainder of page intentionally left blank] By: Name: Title: �CHASE BANK, N.A., as a Lender /� / ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Authorized Signer SIGNATURE PAGE TO FIFTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT SIGNATURE PAGE TO FIFTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT CAPITAL ONE, NATIONAL ASSOCIATION, as a Lender By: Name: ▇▇▇▇ ▇▇▇▇▇▇▇ Title: Duly Authorized Signatory ANNEX A AMENDMENTS TO AMENDED AND RESTATED CREDIT AGREEMENT [Attached] Conforming Copy reflecting the FourthFifth Amendment, dated as of August 6June 13, ▇▇▇▇▇▇▇▇ Deal CUSIP: ▇▇▇▇▇▇▇▇▇ Facility CUSIP: ▇▇▇▇▇▇▇▇▇ AMENDED AND RESTATED CREDIT AGREEMENT Dated as of April 29, 2021, and as amended on December 29, 2021, October 26, 2022, February 5, 2024 and further amended on, August 6, 2024 and further amended on June 13, 2025, among DIGITAL TURBINE, INC., DIGITAL TURBINE MEDIA, INC., DIGITAL TURBINE USA, INC., and FYBER B.V., DIGITAL TURBINE USA, INC. as the repaymentBorrowers, satisfaction CERTAIN SUBSIDIARIES OF THE BORROWERS PARTY HERETO, as the Guarantors, BANK OF AMERICA, N.A., as Administrative Agent, Swingline Lender and L/C Issuer, and THE LENDERS PARTY HERETO BOFA SECURITIES, INC., ▇▇▇▇▇ FARGO SECURITIES, LLC and PNC CAPITAL MARKETS LLC as Lead Arrangers and Bookrunners BOFA SECURITIES, INC., ▇▇▇▇▇ FARGO SECURITIES, LLC and and PNC BANK, NATIONAL ASSOCIATION as Syndication Agents CAPITAL ONE, N.A. and JPMORGAN CHASE BANK, N.A. 206718545 as Co-Documentation Agents 2 Table of Contents Page ARTICLE I DEFINITIONS AND ACCOUNTING TERMS 2 1.01 Defined Terms 2 1.02 Other Interpretive Provisions 44 1.03 Accounting Terms 45 1.04 Rounding 46 1.05 Times of Day 4647 1.06 Letter of Credit Amounts 4647 1.07 UCC Terms 4647 1.08 Rates 4647 1.09 Dutch Terms. 48 ARTICLE II COMMITMENTS AND CREDIT EXTENSIONS 4748 2.01 Loans 4748 2.02 Borrowings, Conversions and Continuations of Loans 4749 2.03 Letters of Credit 5051 2.04 Swingline Loans 60 2.05 Prepayments 6364 2.06 Termination or discharge Reduction of the Commitments 6566 2.07 Repayment of Loans 6667 2.08 Interest and Default Rate 6667 2.09 Fees 6768 2.10 Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate 6870 2.11 Evidence of Debt 6971 2.12 Payments Generally; Administrative Agent’s Clawback 6971 2.13 Sharing of Payments by Lenders 7273 2.14 Cash Collateral 7274 2.15 Defaulting Lenders 7476 2.16 Increase in Commitments 76[Reserved.] 78 2.17 Co-Borrower 8078 ARTICLE III TAXES, YIELD PROTECTION AND ILLEGALITY 8079 3.01 Taxes 8079 3.02 Illegality 8584 3.03 Inability to Determine Rates 8685 3.04 Increased Costs 8887 3.05 Compensation for Losses 8988 3.06 Mitigation Obligations.; Replacement of Lenders 9089 3.07 Survival 9189 ARTICLE IV CONDITIONS PRECEDENT TO CREDIT EXTENSIONS 9190 4.01 Conditions of Initial Credit Extension 9190 4.02 Conditions to all Credit Extensions 9392 ARTICLE V REPRESENTATIONS AND WARRANTIES 9493 i 206718545 Table of Contents (continued) Page 5.01 Existence, Qualification and Power 9493 5.02 Authorization; No Contravention 94 5.03 Governmental Authorization; Other Consents 9594 5.04 Binding Effect 9594 5.05 Financial Statements; No Material Adverse Effect 9594 5.06 Litigation 9695 5.07 No Default 9695 5.08 Ownership of Property 9695 5.09 Environmental Matters 9695 5.10 Insurance 9796 5.11 Taxes 97 5.12 ERISA Compliance 9897 5.13 Margin Regulations; Investment Company Act 9998 5.14 Disclosure 99 5.15 Compliance with Laws 99 5.16 Solvency 10099 5.17 Casualty, Etc 10099 5.18 Sanctions Concerns and Anti-Corruption Laws 10099 5.19 Responsible Officers 100 5.20 Subsidiaries; Equity Interests; Loan Parties 100 5.21 Collateral Representations 101 5.22 EEA Financial Institutions 103 5.23 Covered Entities 103 5.24 Beneficial Ownership Certification 103 5.25 Intellectual Property; Licenses, Etc 103 5.26 Labor Matters 103 5.27 Outbound Investment Rule 103 5.28 Works Council 103 5.29 Centre of Main Interest and Establishments 104 5.30 Tax Residency. 104 5.31 Dutch Fiscal Unity 104 ARTICLE VI AFFIRMATIVE COVENANTS 104 6.01 Financial Statements and Reporting 104 6.02 Certificates; Other Information 105106 6.03 Notices 108109 6.04 Payment of Obligations 109110 6.05 Preservation of Existence, Etc 109110 6.06 Maintenance of Properties 109110 6.07 Maintenance of Insurance 109111 6.08 Compliance with Laws 111112 6.09 Books and Records 111112 6.10 Inspection Rights 111112 6.11 Use of Proceeds 111113 6.12 Material Contracts 111113 6.13 Covenant to Guarantee Obligations 112113 ii 206718545
Appears in 1 contract
Release. In consideration of the agreements of the Administrative Agent and the Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each (a) Each Loan Party hereby unconditionally releases and irrevocably remisesforever discharges Agent and Lenders and their respective parents, acquitssubsidiaries and affiliates, past or present, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries each of the Administrative Agent and the Lendersthem, as well as their respective directors, officers, agents, servants, employees, agentsshareholders, representatives, attorneys, principalsadministrators, advisorsexecutors, directors heirs, assigns, predecessors and shareholderssuccessors in interest, and their respective heirsall other persons, legal representativesfirms or corporations with whom any of the former have been, successors are now, or may hereafter be affiliated, and assigns each of them (collectively, the “Released Lender PartiesReleasees”) ), from and against any and all claims, demands, liens, agreements, contracts, covenants, actions, suits, causes of actionaction in law or equity, obligations, remediescontroversies, suitsdebts, damages costs, expenses, damages, judgments, orders and liabilities of whatever kind or nature in law, equity or otherwise, whether known or unknown, fixed or contingent, suspected or unsuspected by such Loan Party (collectively, the “Claims”), which such Loan Party Claims”) arising out of now owns or related to the Credit Agreement, the other Loan Documents, holds or the transactions contemplated therein, whether now known, suspected or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time heretofore owned or held and which are in existence on the Second Amendment Effective Date (collectively the “Released Matters”).
(b) Each Loan Party represents, warrants and agrees, that in executing and entering into this release, it is not relying and has not relied upon any representation, promise or prior to statement made by anyone which is not recited, contained or embodied in this Amendment, the date of this AgreementCredit Agreement or the Loan Documents. Each Loan Party covenants has reviewed this release with its legal counsel, and agrees never to (understands and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any acknowledges the significance and consequence of this release and of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreementspecific waiver thereof contained herein. Each Loan Party acknowledges understands and expressly assumes the risk that any fact not recited, contained or embodied therein may turn out 25020512v3 hereafter to be other than, different from, or contrary to the facts now known to such Loan Party or believed by such Loan Party to be true. Nevertheless, each Loan Party intends by this release to release fully, finally and forever all Released Matters and agrees that the Released Lender Parties have acted this release shall be effective in good faith all respects notwithstanding any such difference in negotiating facts, and entering into this Agreement and that the provisions hereof are shall not in breach be subject to termination, modification or violation rescission by reason of any duty such difference in facts.
(c) Each Loan Party, on behalf of itself and its successors, assigns, and other legal representatives, hereby absolutely, unconditionally and irrevocably, covenants and agrees with each Releasee that it will not sue (at law, in equity, in any regulatory proceeding or obligationotherwise) any Releasee on the basis of any Claims released, express or implied, of the Released Lender Parties remised and discharged by such Loan Party pursuant to this Section 11. If any Loan Party. The agreements set forth Party violates the foregoing covenant, Loan Parties agree to pay, in this Paragraph 6 shall survive the termination or expiration addition to such other damages as any Releasee may sustain as a result of this Agreement such violation, all attorneys’ fees and the termination costs incurred by any Releasee as a result of the Loan Documents and the repayment, satisfaction or discharge of the Obligationssuch violation.
Appears in 1 contract
Sources: Credit Agreement (Astronics Corp)
Release. In consideration of the agreements of the Administrative Agent The Purchaser and the Lenders contained herein and for other good and valuable considerationits respective affiliates and/or heirs, the receipt and sufficiency of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquits, and fully releases and forever releases and discharges the Administrative Agent Purchaser and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lendersits officers, their respective officersdirectors, employees, agents, attorneyscounsels, principalsaccountants, advisors, directors affiliates and shareholders, and their respective heirs, legal representatives, successors and assigns heirs (collectively, the “Released Lender PartiesReleasees”) from any and all claims, demands, judgments, proceedings, causes of action, orders, obligations, remediescontracts, suitsagreements, damages liens, accounts, costs and expenses (including attorney’s fees and court costs), debts and liabilities (collectively, the “Loan Party Claims”) arising out of or related to the Credit Agreement, the other Loan Documents, or the transactions contemplated thereinwhatsoever, whether now knownknown or unknown, suspected or claimedunsuspected, whether arising under common lawmatured or unmatured, both at law (including federal and state securities laws) and in equity or under statuteequity, which the Company, the Purchaser or any Loan Party of their respective officers, directors, employees, agents, counsels, accountants, affiliates and heirs now have, have ever had or now has against the Released Lender Parties which may have arisen at any time on Releasees arising contemporaneously with or prior to the date hereof or on account of this Agreement. Each Loan Party covenants and agrees never to (and never to cause or arising out of any other Loan Party to) commencematter, voluntarily aid in cause, event or omission of any way, prosecute kind or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on nature occurring contemporaneously with or prior to the date of this Agreementhereof. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach The Purchaser hereby irrevocably covenants to refrain from, directly or violation indirectly, asserting any claim or demand, or commencing, instituting or causing to be commenced, any proceeding of any duty or obligationkind against any Releasee, express or implied, based upon any matter purported to be released hereby. Without in any way limiting any of the Released Lender Parties rights and remedies otherwise available to any Loan Party. The agreements set forth Releasee, the Purchaser shall indemnify and hold harmless each Releasee from and against all actions, suits, proceedings, hearings, investigations, charges, complaints, claims, demands, injunctions, judgments, orders, decrees, rulings, damages, dues, penalties, fines, costs, amounts paid in this Paragraph 6 shall survive settlement, liabilities, obligations, security interests, taxes, liens, losses, lost value, expenses and fees (including attorneys’ fees and court costs) arising directly or indirectly from or in connection with (i) the termination assertion by or expiration of this Agreement and the termination on behalf of the Loan Documents Purchaser or any of its affiliates and/or heirs of any claim or other matter purported to be released hereunder and (ii) the repaymentassertion by any third party of any claim or demand against any Releasee which claim or demand arises directly or indirectly from, satisfaction or discharge in connection with, any assertion by or on behalf of the ObligationsPurchaser or any of its affiliates and/or heirs against any third party of any claims or other matters purported to be released hereunder.
Appears in 1 contract
Release. In consideration of This section 11 becomes effective upon the agreements of the Administrative Agent and the Lenders contained herein and for other Closing.
(a) For good and valuable consideration, including the receipt and sufficiency execution by CMNN of which is hereby acknowledgedthis Agreement, each Loan Party hereby unconditionally and irrevocably remises, acquits, and fully Liew releases and forever releases discharges CMNN and discharges the Administrative Agent and the Lenders and all its respective affiliates and subsidiaries of the Administrative Agent and the Lendersheirs, their respective officerspredecessors, employeessuccessors, representatives, assigns, agents, officers, directors, employees and attorneys, principalsand each of them (herein collectively called the "the CMNN Releasees"), advisors, directors of and shareholders, and their respective heirs, legal representatives, successors and assigns (collectively, the “Released Lender Parties”) from any and all claims, debts, liabilities, demands, obligations, costs, expenses, actions and causes of action, obligationsof every nature, remediescharacter and description, suitsknown or unknown, damages and liabilities (collectively, the “Loan Party Claims”) arising out of which Liew now owns or related to the Credit Agreement, the other Loan Documentsholds, or the transactions contemplated therein, whether now known, suspected or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on heretofore owned or held, or may at any time own or hold, by reason of any matter, cause or thing whatsoever occurred, done, omitted or suffered to be done prior to the date of this Agreement. Each Loan Party covenants , except as provided in this Agreement or the exhibits contemplated hereby, and agrees never to (and never to cause except for any other Loan Party to) commenceclaim based on the fraud, voluntarily aid in any way, prosecute negligence or cause to be commenced or prosecuted against any breach of fiduciary duty of the Released Lender Parties CMNN Releasees.
(b) For good and valuable consideration, including the execution by Liew of this Agreement, CMNN releases and forever discharges Liew and his heirs, successors, representatives, assigns, agents, and attorneys, and each of them (herein collectively called the "the Liew Releasees"), of and from any action and all claims, debts, liabilities, demands, obligations, costs, expenses, actions and causes of action, of every nature, character and description, known or other proceeding based upon any of the Loan Party Claims unknown, which may have arisen CMNN, now owns or holds, or has at any time on heretofore owned or held, or may at any time own or hold, by reason of any matter, cause or thing whatsoever occurred, done, omitted or suffered to be done prior to the date of this Agreement, except as provided in this Agreement or the exhibits contemplated hereby, and except for any claim based on the fraud, negligence or breanch of fiduciary duty of the Liew Releasees.
(c) Each party represents and warrants that he has not heretofore assigned or transferred, or purported to assign or transfer, to any person, firm, or corporation whomsoever any claim, debt, liability, demand, obligation, cost, expense, action or cause of action herein released. Liew agrees to indemnify and hold harmless the other parties against any claim, debt, liability, demand, obligation, cost, expense, action or cause of action based on, arising out of or in connection with any such transfer or assignment or purported transfer or assignment.
(d) Each Loan Party party acknowledges that, except as herein expressly set forth, no representations of any kind or character have been made to him by the other party, or by any of the other party's agents, representatives or attorneys, to induce the execution of this Agreement.
(e) Each party acknowledges that this Agreement effects the settlement of claims which are denied and contested by the other parties, and that nothing contained herein shall be construed as an admission of liability by or on behalf of the other parties, by whom liability is expressly denied.
(f) All of the covenants and agreements herein contained in favor of the CMNN Releasees are for the express benefit of each and all of said parties. All of the covenants and agreements herein contained in favor of the Liew Releasees are for the express benefit of each and all of said parties.
(g) Each party agrees that he will forever refrain and forbear from commencing, instituting or prosecuting any lawsuit, action or other proceeding against the Released Lender Parties have acted other parties based on, arising out of, or in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of connection with any duty or claim, debt, liability, demand, obligation, express cost, expense, action or implied, cause of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration action that is released and discharged by reason of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the ObligationsAgreement.
Appears in 1 contract
Sources: Purchase Agreement (Troyden Corp)
Release. In consideration Effective as of the agreements date of entry of this Interim Order, each of the Administrative Agent Debtors and (subject to paragraph 19) the Lenders contained herein Debtors’ estates, on its and for other good their own behalf and valuable considerationon behalf of its and their respective past, the receipt present and sufficiency of which is future predecessors, heirs, successors, subsidiaries, and assigns, hereby acknowledgedabsolutely, each Loan Party hereby unconditionally and irrevocably remisesreleases and forever discharges and acquits the Prepetition Secured Parties, acquitsthe DIP Secured Parties, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries each of the Administrative Agent and the Lenders, their respective officers, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns Representatives (as defined herein) (collectively, the “Released Lender Parties”) ), from any and all (a) obligations and liabilities to the Debtors (and their successors and assigns) and (b) claims, counterclaims, demands, defenses, offsets, debts, accounts, contracts, liabilities, actions and causes of actionaction of any kind, obligationsnature or description, remedieswhether matured or unmatured, suitsknown or unknown, damages and liabilities (collectivelyasserted or unasserted, the “Loan Party Claims”) foreseen or unforeseen, accrued or unaccrued, suspected or unsuspected, liquidated or unliquidated, pending or threatened, arising in law or equity, upon contract or tort or under any state or federal law or otherwise, in each case arising out of or related to (as applicable) the Credit AgreementPrepetition Secured Debt Documents, the other Loan DIP Documents, or the obligations owing and the financial obligations made thereunder, the negotiation thereof and of the transactions contemplated thereinand agreements reflected thereby, whether now known, suspected or claimed, whether arising under common lawand the obligations and financial obligations made thereunder, in equity each case that the Debtors at any time had, now have or under statutemay have, which or that their predecessors, successors or assigns at any Loan Party ever time had or now has hereafter can or may have against any of the Released Lender Parties which may have arisen for or by reason of any act, omission, matter, cause or thing whatsoever arising at any time on or prior to the date of this AgreementInterim Order. Each Loan Party covenants For the avoidance of doubt, nothing in this release shall relieve the DIP Lenders or the Debtors of their Obligations under the DIP Documents from and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to after the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the ObligationsInterim Order.
Appears in 1 contract
Sources: Term Loan Credit Agreement (Airspan Networks Holdings Inc.)
Release. (a) In consideration of, among other things, the Original Purchasers’ consent to the New Financing, each of the agreements New Purchasers, on behalf of the Administrative Agent itself and the Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquits, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective officers, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representatives, its successors and assigns (collectively, “Releasors”), hereby forever waives, releases and discharges to the “Released Lender Parties”fullest extent permitted by law, and hereby agrees to hold each Releasee (as defined below) from harmless from, any and all claimsclaims (including, demandswithout limitation, crossclaims, counterclaims, rights of set-off and recoupment), causes of action, obligations, remediesdemands, suits, damages costs, expenses and liabilities damages, that any Releasor now has, of whatsoever nature and kind, whether known or unknown, whether arising at law or in equity, against any or all of the Original Purchasers in any capacity and their respective affiliates, shareholders and “controlling persons” (within the meaning of the federal securities laws), and their respective successors and assigns and each and all of the officers, directors, employees, consultants, agents, attorneys and other representatives of each of the foregoing (collectively, the “Loan Party ClaimsReleasees”) arising out of ), based in whole or related to the Credit Agreement, the other Loan Documents, or the transactions contemplated thereinin part on facts, whether or not now known, suspected or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time existing on or prior to before the date execution of this Agreement (the “Released Claims”).
(b) In entering into this Agreement, each New Purchaser has consulted with, and been represented by, legal counsel and expressly disclaim any reliance on any representations, acts or omissions by any of the Releasees and hereby agree and acknowledge that the validity and effectiveness of the releases set forth above do not depend in any way on any such representations, acts and/or omissions or the accuracy, completeness or validity hereof. This Section 8 shall survive the termination of this Agreement. .
(c) Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party Releasor acknowledges and agrees that the releases made herein constitute final and complete releases of the Releasees with respect to all Released Lender Parties Claims. Each Releasor expressly acknowledges and agrees that this general release is intended to include in its effect, without limitation, all Released Claims which such Releasor does not know or suspect to exist in his favor at the time hereof, and this general release contemplates the extinguishments of any and all such Released Claims. In this regard, each Releasor expressly waives the provisions of Section 1542 of the California Civil Code, which state: A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR. Furthermore, except as herein provided, each Releasor hereby expressly waives and relinquishes any rights and benefits he may have acted in good faith in negotiating and entering into this Agreement and under other statutes or common law principals of similar effect. Each Releasor understands that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement facts under which he gives his full and the termination of the Loan Documents complete release and the repayment, satisfaction or discharge of the ObligationsPrincipal Releasees may hereafter prove to be different than now known or believed by him and each Releasor accepts and assumes the risk thereof and agrees that his full and complete release and discharge of the Releasees shall remain effective in all respects and not be subject to termination, recission or modification by reason of any such difference in facts.
Appears in 1 contract
Sources: Subordination Agreement (Prolong International Corp)
Release. In consideration of the agreements of the Administrative Agent and the Lenders contained herein and for other good and valuable considerationUpon Final Judgment, the receipt and sufficiency of which is hereby acknowledgedReleasing Parties shall completely release, each Loan Party hereby unconditionally and irrevocably remises, acquitsacquit, and fully and forever releases and discharges discharge the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective officers, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns (collectively, the “▇▇▇▇ Released Lender Parties”) Parties from any and all claims, demands, actions, suits, and causes of action, obligationswhether class, remediesindividual, suitsor otherwise in nature (whether or not any member of the Settlement Class has objected to the Settlement Agreement or makes a claim upon or participates in the Settlement Fund, whether directly, representatively, derivatively or in any other capacity) that the Releasing Parties ever had, now have, or hereafter can, shall, or may ever have, on account of, or in any way arising out of, any and all known and unknown, foreseen and unforeseen, suspected or unsuspected, actual or contingent, liquidated or unliquidated claims, demands, actions, causes of action, injuries, losses, damages (including but not limited to treble or punitive damages, interest, and liabilities attorney’s or professional’s fees, costs and expenses), and whether in tort, in contract, or otherwise, and the consequences thereof, including any claims of third parties that have been assigned to a Releasing Party and (collectivelyto the extent the Releasing Party has the legal and contractual right to do so) any claims previously assigned by the Releasing Party to a third party, that have been asserted, or could have been asserted, under federal or state law, in any way arising out of acts or omissions through the date of Preliminary Approval relating to or referred to in the Action, or the subject matter of the Action, or arising from or related to the factual predicate of the Action (the “Loan Party Released Claims”) ). For the avoidance of doubt, “Released Claims” includes all claims that have been asserted, or could have been asserted, in the Action against the ▇▇▇▇ Released Parties, including all claims in any way arising out of or related relating to the Credit Agreementindirect purchase of chicken products produced, the other Loan Documentsprocessed or sold by ▇▇▇▇, or the transactions contemplated therein, whether now known, suspected or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action other Defendants, or alleged co-conspirators or other proceeding Agri Stats participants. Notwithstanding the above, “Released Claims” do not include (i) claims asserted against any Defendant other than the ▇▇▇▇ Released Parties; or (ii) any claims wholly unrelated to the allegations in the Action that are based upon on breach of contract (except such breaches relating to anticompetitive actions and/or unfair or inflated pricing), any negligence, personal injury, bailment, failure to deliver lost goods, damaged or delayed goods, or product defect. This reservation of claims set forth in (i) or (ii) of this Paragraph does not impair or diminish the right of the Loan Party Claims which may have arisen at ▇▇▇▇ Released Parties to assert any time on or and all defenses to such claims. During the period after the expiration of the deadline for submitting an opt-out notice, as determined by the Court, and prior to Final Judgment, all Releasing Parties who have not submitted a valid request to be excluded from the date of this AgreementSettlement Class shall be preliminarily enjoined and barred from asserting any Released Claims against the ▇▇▇▇ Released Parties. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, The release of the Released Lender Claims will become effective as to all Releasing Parties upon Final Judgment. Upon Final Judgment, the Releasing Parties further agree that they will not file any other suit against the ▇▇▇▇ Released Parties arising out of or relating to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the ObligationsReleased Claims.
Appears in 1 contract
Sources: Settlement Agreement
Release. In consideration (a) Effective as of the agreements Closing, BridgeBio, on behalf of the Administrative Agent itself and the Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquitsits Affiliates, and fully its and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective individual, joint or mutual, past, present and future successors, assigns, representatives, administrators, executors, beneficiaries, agents, Affiliates, equityholders, Subsidiaries, officers, directors, employees, agentspartners, attorneysmembers, principalsmanagers, advisors, directors general or limited partners and shareholders, and their respective heirs, legal representatives, successors and assigns advisors (collectively, the “Released Lender BridgeBio Releasing Parties”), hereby unconditionally and irrevocably waives releases, remises and forever discharges any rights, claims and Losses of any type that it or any of the BridgeBio Releasing Parties has had, now has or might now or hereafter have against the Company and any Acquired Asset, and each of the Company’s individual, joint or mutual, past, present and future representatives, equityholders, Affiliates, Subsidiaries, officers, directors, employees, partners, members, managers, agents, general or limited partners, advisors, successors and assigns in respect of, relating to or arising in connection with any actions or failures to take actions on or prior to the Closing Date (including in connection with the ownership and operation of the Company and the Acquired Assets), except for (i) rights, claims and Losses arising from and after the date hereof under the terms of this Agreement or any Transaction Document or (ii) for Fraud. Each Party, for itself and all claimsthe BridgeBio Releasing Parties, demandsacknowledges that it is aware that it or such BridgeBio Releasing Party may hereafter discover facts different from or in addition to the facts which it or such BridgeBio Releasing Party now knows or believes to be true with respect to the subject matter of this Agreement, causes but that it or such BridgeBio Releasing Party intends that the general releases herein given shall be and remain in full force and effect, notwithstanding the discovery of actionany such different or additional facts, obligationsother than in the case of Fraud. The Parties acknowledge that this Section 6.15(a) is not an admission of liability or of the accuracy of any alleged fact or claim. The Parties expressly agree that this Section 6.15(a) shall not be construed as an admission in any proceeding as evidence of or an admission by any Party of any violation or wrongdoing.
(b) Effective as of the Closing, remediesthe Company, suitson behalf of itself and its Affiliates, damages and liabilities its and their respective individual, joint or mutual, past, present and future successors, assigns, representatives, administrators, executors, beneficiaries, agents, Affiliates, equityholders, Subsidiaries, officers, directors, employees, partners, members, managers, general or limited partners and advisors (collectively, the “Loan Party ClaimsCompany Releasing Parties”) arising out ), hereby unconditionally and irrevocably waives releases, remises and forever discharges any rights, claims and Losses of any type that it or related to any of the Credit AgreementCompany Releasing Parties has had, the other Loan Documents, or the transactions contemplated therein, whether now known, suspected or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has or might now or hereafter have against the Released Lender Parties which may have arisen at BridgeBio or any time of its Subsidiaries, and each of their respective individual, joint or mutual, past, present and future representatives, equityholders, Affiliates, Subsidiaries, officers, directors, employees, partners, members, managers, agents, general or limited partners, advisors, successors and assigns in respect of, relating to or arising in connection with any actions or failures to take actions on or prior to the Closing Date (including in connection with the ownership and operation of the Company and the Acquired Assets), except for rights, claims and Losses (i) arising from and after the date hereof under the terms of this Agreement or any Transaction Document or (ii) for Fraud. Each Party, for itself and the Company Releasing Parties, acknowledges that it is aware that it or such Company Releasing Party may hereafter discover facts different from or in addition to the facts which it or such Company Releasing Party now knows or believes to be true with respect to the subject matter of this Agreement, but that it or such Company Releasing Party intends that the general releases herein given shall be and remain in full force and effect, notwithstanding the discovery of any such different or additional facts, other than in the case of Fraud. Each Loan Party covenants and agrees never to (and never to cause The Parties acknowledge that this Section 6.15(b) is not an admission of liability or of the accuracy of any other Loan Party toalleged fact or claim. The Parties expressly agree that this Section 6.15(b) commence, voluntarily aid shall not be construed as an admission in any way, prosecute proceeding as evidence of or cause to be commenced or prosecuted against an admission by any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty violation or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the Obligationswrongdoing.
Appears in 1 contract
Release. In consideration Each of the agreements of the Administrative Agent and the Lenders contained herein and for other good and valuable considerationAHI, the receipt and sufficiency of which is hereby acknowledgedNHI, each Loan Party hereby unconditionally and irrevocably remises, acquits, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the LendersLumenon, their respective officers, directors, employees, attorneys, agents, attorneysAffiliates, principals, advisors, directors successors and shareholdersassigns, and as well as Andr▇▇▇ ▇▇▇ Naja▇▇ ▇▇▇ their respective heirs, legal representativesexecutors, administrators and assigns (all of the foregoing collectively, the "LUMENON PARTIES"), hereby absolutely, fully and forever release, waive, relinquish and discharge any and all Claims (defined below) whatsoever which any of the Lumenon Parties may have had, may presently have, or in the future may have against each of Molex and its respective officers, directors, employees, attorneys, agents, Affiliates, successors and assigns (collectively, the “Released Lender Parties”) from any and all claims"MOLEX PARTIES"),which arise, demands, causes of action, obligations, remedies, suits, damages and liabilities (collectively, have arisen or may in the “Loan Party Claims”) arising future arise in whole or in part out of or related on account of any matter or thing whatsoever occurring on or before the date hereof relating to (i) the Teaming Agreement and/or the Stock Restriction Agreement or any act or omission of any of the Molex Parties relating to the Credit Teaming Agreement and/or the Stock Restriction Agreement, the other Loan Documents, or the transactions contemplated therein, whether now known, suspected (ii) any act or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time omission relating to service on or prior for the Board of Directors of Lumenon Parent or LILT. In furtherance of the foregoing, the Lumenon Parties agree not to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause sue ▇▇ prosecute any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted action against any of the Released Lender Molex Parties any action or other proceeding based upon with respect to any of the Loan Party matters within the scope hereof and agrees to hold each of the Molex Parties harmless with respect to any such suit or prosecution in contravention of this section. The Molex Parties hereby absolutely, fully and forever release, waive, relinquish and discharge any and all Claims (defined below) whatsoever which any of the Molex Parties may have had, may presently have, or in the future may have against each of the Lumenon Parties, which arise, have arisen at or may in the future arise in whole or in part out of or on account of any time matter or thing whatsoever occurring on or prior before the date hereof relating to the date Teaming Agreement and/or the Stock Restriction Agreement or any act or omission of any of the Lumenon Parties relating to the Teaming Agreement and/or the Stock Restriction Agreement. In furtherance of the foregoing, the Molex Parties agree not to sue ▇▇ prosecute any action against any of the Lumenon Parties with respect to any of the matters within the scope hereof and agrees to hold each of the Lumenon Parties harmless with respect to any such suit or prosecution in contravention of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the Obligationssection.
Appears in 1 contract
Release. In (a) Effective for all purposes as of the Effective Time (as defined in the Merger Agreement), after consultation with or the opportunity to consult with the counsel of your choice, and in consideration of the agreements receipt of the Administrative Agent Merger Consideration, you acknowledge and the Lenders contained herein agree on behalf of yourself and for other good each of your agents, trustees, beneficiaries, managers, affiliates, partners, stockholders, members, managers, directors, officers, heirs, executors, administrators, estate, successors and valuable considerationassigns, the receipt and sufficiency of which is hereby acknowledgedas applicable (each, a “Releasing Party”) that each Loan Releasing Party hereby unconditionally and unconditionally, irrevocably remises, acquits, and fully and forever releases releases, acquits and discharges the Administrative Agent Company, its Subsidiaries, Buyer, its Subsidiaries, Merger Sub, and the Lenders Representative (each a “Beneficiary”) and all each of such Beneficiary’s respective affiliates current and subsidiaries of the Administrative Agent and the Lendersformer directors, their respective officers, managers, employees, representatives, agents, and heirs, attorneys, principalsmembers, advisors, directors and shareholders, successors, parents, affiliates, predecessors and their respective heirsassigns, legal representativesand the attorneys and agents of any of the aforementioned released parties (each, successors a “Released Party” and assigns (collectively, the “Released Lender Parties”) from any and all actions, claims, demands, causes of actionliabilities, obligations, remediesand damages (“Claims”) that arise out of or are related (directly or indirectly) to your ownership of the Company Stock or any other relationship with the Company or its Subsidiaries (including as an employee, suitsindependent contractor, damages consultant or otherwise), whether in law or in equity, known or unknown, matured or unmatured, contingent or vested, of any kind or nature or description whatsoever, arising before the Effective Time, that any Releasing Party had, presently has or may hereafter have or claim or assert to have against any Released Party; provided that for the avoidance of doubt, this paragraph shall not have any effect on (i) your right to receive the Merger Consideration; (ii) your rights, if any, under, pursuant to, on in connection with any Transaction Document; (iii) an employee’s accrued rights to wages, other compensation, vacation, expense reimbursement and liabilities other benefits under any of the Company’s or its direct or indirect subsidiaries’ benefit plans; (collectivelyiv) any Claims arising out of any Released Party’s fraud or intentional misconduct; and (v) any rights of indemnification that a Releasing Party may have by reason of his or her status as a director, officer, or fiduciary of the Company or any of its Subsidiaries, pursuant to the Company’s Organizational Documents and any applicable insurance policies in effect as of the Closing (the foregoing (i) through (v), the “Loan Party Excluded Claims”).
(b) arising out You acknowledge on behalf of each Releasing Party that you may discover facts in addition to or related different from those that a Releasing Party now knows or believes to be true with respect to the Credit Agreementsubject matter of this release, but it is each Releasing Party’s intention, subject to the first paragraph of this “Release” section, to fully and finally and forever settle and release any and all Claims that do now exist, may exist or heretofore have existed with respect to the subject matter of this release. In furtherance of this intention, the other Loan Documentsreleases contained herein shall be and remain in effect as full and complete general releases notwithstanding the discovery or existence of any such additional or different facts.
(c) You acknowledge and covenant that (i) the Releasing Parties have not heretofore made, filed or the transactions contemplated thereincaused to be made or filed, whether now knownand will not make, suspected or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute file or cause to be commenced made or prosecuted filed any allegations or any claim, action, arbitration, audit, hearing, investigation, suit or proceeding against any of the Released Lender Parties any action or other proceeding in connection with, based upon or arising out of any of Claim released and discharged herein, (ii) the Loan Party Releasing Parties cannot and will not assign to any person or entity any Claim or rights including any Claim (or any part thereof) released or discharged herein, and (iii) the Releasing Parties expressly waive all Claims, including but not limited to, those Claims that you may not know of, which if known, may have arisen at any time on or prior materially affected the decision to provide such release, and you expressly waive rights that provide to the date contrary, except in each case for the Excluded Claims.
(d) You acknowledge, on behalf of this Agreement. Each Loan Party acknowledges yourself and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and all Releasing Parties, that the provisions hereof regarding the Claims be construed as broadly as possible, and incorporate herein similar federal, state or other laws, all of which, with respect to the Claims, are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the Obligationssimilarly waived by you.
Appears in 1 contract
Release. In consideration of the agreements of the Administrative Agent (a) As a material inducement for Company to enter into this Agreement, Weil hereby irrevocably and the Lenders contained herein and for other good and valuable considerationunconditionally releases, the receipt and sufficiency of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquits, and fully acquits and forever releases and discharges the Administrative Agent and the Lenders Company and all respective affiliates of its current and subsidiaries of the Administrative Agent and the Lendersformer subsidiaries, their respective affiliates, divisions, successors, predecessors, related entities, assigns, owners, stockholders, partners, directors, officers, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representatives, successors attorneys and assigns all persons acting by, through, under or in concert with any of them (collectivelycollectively “Releasees”), the “Released Lender Parties”) from any and all known charges, complaints, claims, demandsliabilities, obligations, promises, agreements, damages, actions, causes of action, obligations, remedies, suits, damages rights, demands, costs, losses, debts and liabilities expenses (collectively, the including attorneys’ fees and costs) of any nature whatsoever (“Loan Party Claim” or “Claims”) arising out of which Weil now has, owns or related to the Credit Agreement, the other Loan Documentsholds, or the transactions contemplated thereinclaims to have, whether now knownown or hold, suspected or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen Weil at any time on heretofore had, owned or held, or claimed to have had, owned or held, or which Weil at any time hereafter may have, own or hold, or claim to have, own or hold, against any of the Releasees relating to any event, act or omission that has occurred as of or prior to the date of this Agreement. Each Loan Party covenants This Release shall not apply to any of the Company’s obligations under the terms of this Agreement, to the Company’s obligations to Weil under any 401(k) or pension plan, to the Company’s obligation to indemnify Weil under its Certificate of Incorporation, its Bylaws, applicable law and/or contract or to any claim that may not be released as a matter of law.
(b) As a material inducement for Weil to enter into this Agreement, the Company hereby irrevocably and agrees never unconditionally releases, acquits and forever discharges Weil and all of his current and former attorneys, agents, representatives, successors and assigns, and all persons acting by, through, under or in concert with any of them (collectively “Weil Releasees”), from any and all known Claims which the Company now has, owns or holds, or claims to (and never have, own or hold, or which the Company at any time heretofore had, owned or held, or claimed to cause have had, owned or held, or which the Company at any other Loan Party to) commencetime hereafter may have, voluntarily aid in any wayown or hold, prosecute or cause claim to be commenced have, own or prosecuted hold, against any of the Released Lender Parties Weil Releasees relating to any action event, act or other proceeding based upon any omission that has occurred as of the Loan Party Claims which may have arisen at any time on or prior to the date of this AgreementEffective Date. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are This Release shall not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties apply to any Loan Party. The agreements set forth in this Paragraph 6 shall survive of Weil’s obligations under the termination or expiration terms of this Agreement and or any law or contract relating to the termination Company’s indemnification of the Loan Documents and the repayment, satisfaction or discharge of the ObligationsWeil.
Appears in 1 contract
Sources: Separation and General Release Agreement (Ashworth Inc)
Release. In consideration of (a) Each Loan Party and its respective successors, assigns and legal representatives (collectively, the agreements of the “Releasors”), releases, acquits and forever discharges each Administrative Agent and the Lenders contained herein and for other good and valuable considerationeach Lender (collectively, the receipt and sufficiency of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquits“Lender Parties”), and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective subsidiaries, parents, affiliates, officers, directors, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns assigns, both present and former (collectively, the “Released Lender PartiesParty Affiliates”) ), from any and all claimsmanner of losses, demandscosts, defenses, damages, liabilities, deficiencies, actions, causes of action, obligations, remedies, suits, damages debts, controversies, damages, judgments, executions, claims, demands and liabilities out-of-pocket expenses whatsoever, asserted or unasserted, known or unknown, foreseen or unforeseen, in contract, tort, law or equity (collectivelygenerically, the “Loan Party Claims”) ), that any Releasor has or may have against any of the Lender Parties and/or the Lender Party Affiliates by reason of any action, failure to act, event, statement, accusation, assertion, matter or thing whatsoever arising from or based on facts occurring prior to the Amendment Effective Date that arises out of or related is connected to the Credit Agreement, the other Loan Documents, the Loans and the Letters of Credit, including but not limited to any Claims or defense that relates to, in whole or in part, directly or indirectly: (i) the Credit Agreement or any other Loan Document or the transactions contemplated thereinthereby; (ii) the making of any Loans or issuance of Letters of Credit under the Loan Documents; (iii) any actual or proposed use by the Loan Parties of the proceeds of the Loans or Letters of Credit; (iv) any actions or omissions of any Lender Party or Lender Party Affiliate in connection with the initiation or continuing exercise of any right or remedy contained in the Loan Documents at law or in equity; (v) the making or administration of the Loans, whether now knownincluding without limitation, suspected any such claims and defenses based on fraud, mistake, duress, usury or claimedmisrepresentation, whether arising under common lawor any other claim based on so-called “lender liability theories”; (vi) any covenants, agreements, duties or obligations set forth in equity the Loan Documents; (vii) lost profits, (viii) loss of business opportunity, (ix) increased financing costs, (x) increased legal or under statuteother administrative fees or (xi) damages to business reputation.
(b) Each Loan Party, which on behalf of itself and its successors, assigns, and other legal representatives, hereby unconditionally and irrevocably agrees that it will not ▇▇▇ any Lender Party or Lender Party Affiliate on the basis of any Claim released, remised and discharged by such Loan Party pursuant to this Section 6. If any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action their respective successors, assigns or other proceeding based upon any of legal representatives violates the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligationforegoing covenant, express or implied, of the Released Lender Parties to any each Loan Party. The agreements set forth , for itself and its successors, assigns and legal representatives, agrees to pay, in this Paragraph 6 shall survive the termination addition to such other damages as any Lender Party or expiration Lender Party Affiliate may sustain as a result of this Agreement such violation, all reasonable and the termination documented attorneys’ fees and costs incurred by any Lender Party or Lender Party Affiliate as a result of the Loan Documents and the repayment, satisfaction or discharge of the Obligationssuch violation.
Appears in 1 contract
Release. The Loan Parties may have certain Claims against the Released Parties, as those terms are defined below, regarding or relating to the Financing Agreement or the other Loan Documents. The Agent, the Lead Arranger, the Service Agent, the Lenders and the Loan Parties desire to resolve each and every one of such Claims in conjunction with the execution of this Amendment and thus each Loan Party makes the releases contained in this Section 17. In consideration of the agreements of Agent, the Administrative Agent Lead Arranger, the Service Agent, and the Lenders contained herein entering into this Amendment and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledgedagreeing to substantial concessions as set forth herein, each Loan Party hereby unconditionally and irrevocably remises, acquits, and fully and forever unconditionally releases and forever discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries each of the Administrative Agent, the Lead Arranger, the Service Agent and the Lenders, and their respective directors, officers, employees, agentssubsidiaries, branches, affiliates, attorneys, principalsagents, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns and all persons, firms, corporations and organizations acting on any of their behalves (collectively, the “"Released Lender Parties”) ), of and from any and all claims, demandsallegations, causes of action, obligationscosts or demands and liabilities, remediesof whatever kind or nature, suits, damages and liabilities (collectively, from the “Loan Party Claims”) arising out beginning of or related the world to the Credit Agreement, the other Loan Documents, or the transactions contemplated thereindate on which this Amendment is executed, whether now knownknown or unknown, liquidated or unliquidated, fixed or contingent, asserted or unasserted, foreseen or unforeseen, matured or unmatured, suspected or claimedunsuspected, whether arising under common law, in equity anticipated or under statuteunanticipated, which any Loan Party ever has, had, claims to have had or now has hereafter claims to have against the Released Lender Parties which may have arisen at by reason of any time act or omission on the part of the Released Parties, or any of them, occurring prior to the date on which this Amendment is executed, including all such loss or damage of any kind heretofore sustained or that may arise as a consequence of the dealings among the parties up to and including the date on which this AgreementAmendment is executed, including the administration or enforcement of the Revolving Loans, the Term Loans, the Obligations, the Financing Agreement or any of the Loan Documents, in each case, regarding or relating to the Financing Agreement and the other Loan Documents (collectively, all of the foregoing, the “Claims”). Each Loan Party covenants represents and agrees never to (and never to cause warrants that it has no knowledge of any other Loan Party to) commence, voluntarily aid in claim by it against the Released Parties or of any way, prosecute facts or cause to be commenced or prosecuted against any acts of omissions of the Released Lender Parties which on the date hereof would be the basis of a claim by any action or other proceeding based upon any of the Loan Party Claims against the Released Parties which may have arisen at any time on is not released hereby, in each case, regarding or prior relating to the date of this AgreementFinancing Agreement and the other Loan Documents. Each Loan Party acknowledges represents and agrees warrants that the Released Lender Parties have acted in good faith in negotiating foregoing constitutes a full and entering into this Agreement and that the provisions hereof are not in breach or violation complete release of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the Obligationsall such Claims.
Appears in 1 contract
Sources: Financing Agreement (Metalico Inc)
Release. In consideration (a) Purchaser, on behalf of itself and its Affiliates (including, after the agreements of the Administrative Agent and the Lenders contained herein and for other good and valuable considerationClosing, the receipt MMIS Entities) and sufficiency any of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquits, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective officers, employees, agents, attorneys, principals, advisors, directors and shareholders, its and their respective heirs, legal representativesagents, successors and permitted assigns (such Persons, including Purchaser, each a “Purchaser Waiving Party”), at the Closing, hereby releases, remises and forever discharges all claims (other than as set forth in this Article X or claims under any Ancillary Agreements) that Purchaser or any of its Affiliates has had, now has or might have in the future against any Seller Related Party arising under, in connection with or in any manner related to (i) the conduct of the MMIS Business prior to Closing or to any business conducted by Seller Group prior to the Closing and (ii) this Agreement or the Transaction, or any statements made or actions taken in connection with or that otherwise relate to the Transaction or the negotiation, execution and performance of or breach of this Agreement (clauses (i) and (ii), collectively, the “Released Lender PartiesPurchaser Waived Matters”) from ). Purchaser hereby covenants and agrees that, other than as set forth in this Article X and claims under any Ancillary Agreement, it shall not, and all claimsit shall cause the other Purchaser Waiving Parties not to, demandsinstitute any Action in any way under, causes of action, obligations, remedies, suits, damages and liabilities (collectively, the “Loan Party Claims”) arising out of in connection with or in any manner related to the Credit Purchaser Waived Matters (whether at law or in equity or based on contract, tort, statute or otherwise) against any Seller Related Party.
(b) Seller, on behalf of itself and its Controlled Affiliates and any of its and their respective agents, successors and permitted assigns (such Persons, including Seller, each a “Seller Waiving Party”), at the Closing, hereby releases, remises and forever discharges all claims (other than as set forth in this Article X or claims under any Ancillary Agreements) that Seller or any of its Affiliates has had, now has or might have in the future against any Purchaser Related Party arising under, in connection with or in any manner related to this Agreement or the Transaction, or any statements made or actions taken in connection with or that otherwise relate to the Transaction or the negotiation, execution and performance of or breach of this Agreement (the “Seller Waived Matters”). Seller hereby covenants and agrees that, other than as set forth in this Article X and claims under any Ancillary Agreement, it shall not, and it shall cause the other Seller Waiving Parties not to, institute any Action in any way under, in connection with or in any manner related to the Seller Waived Matters (whether at law or in equity or based on contract, tort, statute or otherwise) against any Purchaser Related Party.
(c) Notwithstanding anything to the contrary contained herein, each Seller Waiving Party hereby irrevocably and unconditionally (i) acknowledges and agrees that this Agreement may not be enforced against any Financing Party or its representatives and none of the Financing Parties or their representatives shall have any liability under this Agreement or for any claim or proceeding (whether at law or in equity or based on contract, tort, statute or otherwise) based on, in respect of, or by reason of, the transactions contemplated hereby, including, but not limited to, any dispute related to, or arising from, the Debt Financing, the Debt Commitment Letter or the performance thereof, (ii) waives any rights or claims against any of the Financing Party or their representatives in connection with this Agreement, the other Loan DocumentsDebt Financing or the Debt Commitment Letter, whether at law or equity, in contract, in tort or otherwise, and (iii) agrees not to commence (and if commenced agree to dismiss or otherwise terminate, and not to assist) any action, arbitration, audit, hearing, investigation, litigation, petition, grievance, complaint, suit or proceeding against any Financing Party or its representatives under this Agreement, the Debt Financing, the Debt Commitment Letter or the transactions contemplated therein, whether now known, suspected hereby or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the Obligationsthereby.
Appears in 1 contract
Release. In consideration of the agreements execution, delivery and performance of this Agreement by CTI, each of Kingman and the Company (each, a “Releasor”) hereby reciprocally gives the following general release effective to each other as of the Administrative Agent Closing:
(a) such Releasor, on its own behalf and the Lenders contained herein on behalf of its successors and for other good and valuable considerationassigns, the receipt and sufficiency of which is hereby acknowledgedgenerally, each Loan Party hereby irrevocably, unconditionally and irrevocably remisescompletely releases, acquitsacquits and forever discharges CTI, its Affiliates, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries each of the Administrative Agent and the Lenders, their respective officers, employees, agents, attorneys, principals, advisors, officers and directors and shareholders, and their respective heirs, legal representatives, successors and assigns (collectively, the “Released Lender Parties”) ), to the fullest extent permitted by applicable Law, from any and all claimsLosses of every type, demandskind, causes nature, description or character, whether known or unknown, liquidated or unliquidated, that such Releasor has, owns or holds, or claims to have, own or hold, or may have, own or hold, in each case, arising from the beginning of actiontime through the Closing Date with respect to any matter involving the Redeemed Shares, obligations, remedies, suits, damages and liabilities the Company or the Company’s business arising on prior to the Closing (collectively, but subject to the immediately following proviso, “Loan Party Released Claims”); provided, however, that nothing in this Section 5.10 shall constitute a release or waiver (i) of any rights of such Releasor under this Agreement or any other agreement executed and delivered in connection herewith, or (ii) any amounts owed to the Company by CTI Europe GMBH. Each Releasor represents that such Releasor has not assigned or transferred or purported to have assigned or transferred to any Person any Released Claims;
(b) such Releasor is aware that such Releasor may hereafter discover claims or facts in addition to or different from those such Releasor now knows or believes to exist, which if such Releasor had known, may have affected such Releasor’s decision to execute this Agreement; however, such Releasor hereby settles and releases all of the Released Claims which such Releasor had, has or may have against the Released Parties including arising out of such additional or related to the Credit Agreementdifferent facts; and
(c) such Releasor represents and agrees that such Releasor (i) has not filed with any Governmental Authority or any other Person any action, the other Loan Documentsaudit, suit, hearing, claim, complaint, dispute, controversy, lawsuit, litigation, investigation, examination, arbitration or the transactions contemplated thereinproceeding (in each case, whether now knowncivil, suspected criminal or claimed, whether arising under common law, administrative or at law or in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party toequity) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties involving any action or other proceeding based upon any of the Loan Party Released Claims which may have arisen and such Releasor (ii) shall not do so at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the Obligationshereafter.
Appears in 1 contract
Release. In Each Credit Party hereby acknowledges and agrees that: (i) neither it nor any of its Subsidiaries has any claim or cause of action against the Agent or any Lender (or any of their respective Affiliates, officers, directors, employees, attorneys, consultants or agents in their capacities for the Agent or any Lender) in connection with the Loan Documents and (ii) the Agent and each Lender has heretofore properly performed and satisfied in a timely manner all of its obligations to the Credit Parties and their Subsidiaries under the Credit Agreement and the other Loan Documents that are required to have been performed on or prior to the date hereof. Notwithstanding the foregoing, the Agent and the Lenders wish (and the Credit Parties agree) to eliminate any possibility that any past conditions, acts, omissions, events or circumstances would impair or otherwise adversely affect any of the Agent's and the Lenders' rights, interests, security and/or remedies under the Credit Agreement and the other Loan Documents. Accordingly, for and in consideration of the agreements of the Administrative Agent contained in this Amendment and the Lenders contained herein and for other good and valuable consideration, the receipt each Credit Party (for itself and sufficiency of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquits, and fully and forever releases and discharges the Administrative Agent its Subsidiaries and the Lenders successors, assigns, heirs and all respective affiliates and subsidiaries representatives of each of the Administrative Agent and the Lenders, their respective officers, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns foregoing) (collectively, the “"Releasors") does hereby fully, finally, unconditionally and irrevocably release and forever discharge the Agent, each Lender and each of their respective Affiliates, officers, directors, employees, attorneys, consultants and agents in their capacities as the Agent or any Lender (collectively, the "Released Lender Parties”") from any and all debts, claims, obligations, damages, costs, attorneys' fees, suits, demands, liabilities, actions, proceedings and causes of action, obligations, remedies, suits, damages and liabilities (collectively, the “Loan Party Claims”) arising out of or related to the Credit Agreement, the other Loan Documents, or the transactions contemplated thereinin each case, whether now knownknown or unknown, suspected contingent or claimedfixed, direct or indirect, and of whatever nature or description, and whether arising in law or in equity, under common lawcontract, in equity tort, statute or under statuteotherwise, which any Loan Party ever Releasor has heretofore had or now has against the Released Lender Parties which or hereafter can, shall or may have arisen at against any time Released Party by reason of any act, omission or thing whatsoever done or omitted to be done on or prior to the date of Amendment Effective Date arising out of, connected with or related in any way to this Agreement. Each Loan Party covenants and agrees never to (and never to cause Amendment, the Credit Agreement or any other Loan Party to) commenceDocument, voluntarily aid in or any wayact, prosecute event or cause to be commenced transaction related or prosecuted against attendant thereto, or the agreements of the Agent or any Lender contained therein, or the possession, use, operation or control of any of the Released Lender Parties assets of any action Credit Party, or the making of any Loans or other proceeding based upon any advances, or the management of such Loans or advances or the Loan Party Claims which may have arisen at any time on or Collateral prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the ObligationsAmendment Effective Date.
Appears in 1 contract
Release. In consideration of the agreements of the Administrative Agent and the Lenders contained herein and for other good and valuable consideration(a) Borrower, the receipt Parent, and sufficiency each of which is hereby acknowledgedtheir Subsidiaries (collectively, each Loan Party the "Borrower Parties") hereby unconditionally and irrevocably remises, acquits, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates Affiliates, Bank Affiliates and subsidiaries Subsidiaries of the Administrative Agent and the Lenders, their respective officers, servants, employees, agents, attorneys, financial advisors, principals, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns (collectively, the “"Released Lender Parties”") from any and all claims, demands, causes of action, obligations, remedies, suits, damages and liabilities (collectively, the “Loan Party Claims”) arising out of or related to the Credit Agreement, the other Loan Documents, or the transactions contemplated thereinany nature whatsoever, whether now known, suspected or claimed, whether arising under common law, in equity or under statute, which any Loan Borrower Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this Agreement. Second Amendment and which were in any manner related to any of the Loan Papers or the enforcement or attempted enforcement by the Administrative Agent or the Lenders of rights, remedies or recourses related thereto (collectively, the "Borrower Claims").
(b) Each Loan Borrower Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced commences or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Borrower Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges Second Amendment and agrees that the Released Lender Parties have acted were in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, manner related to any of the Released Lender Parties to any Loan Party. Papers.
(c) The agreements of each Borrower Party set forth in this Paragraph Section 6 shall survive the termination or expiration of this Agreement Second Amendment and the termination of the other Loan Documents and the repayment, satisfaction or discharge of the ObligationsPapers.
Appears in 1 contract
Sources: Limited Forbearance Agreement (Pinnacle Holdings Inc)
Release. (a) In consideration of the agreements purchase of the Administrative Agent and Membership Interests pursuant to the Lenders contained herein and for other good and valuable considerationterms hereof, the receipt and sufficiency of which is Seller hereby acknowledged, each Loan Party hereby unconditionally forever fully and irrevocably remises, acquits, and fully and forever releases and discharges the Administrative Agent Company and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lendersits managers, their respective officers, employeesEmployees, agents, attorneys, principals, advisors, directors agents and shareholders, and their respective heirs, legal representatives, successors and assigns representatives (collectively, the “Released Lender Parties”) from any and all claimsActions, demands, causes of actiondebts, accounts, covenants, contracts, arrangements, promises, obligations, remediesdamages, suitsjudgments, damages or Liabilities of any kind, in law or equity, and liabilities causes of action of every kind and nature, or otherwise (including claims for damages, costs, expenses, and attorneys’, brokers’ and accountants’ fees and expenses) which such Seller has or may have against the Released Parties, whether known or unknown, suspected or unsuspected, and that now exist or may hereafter accrue based on matters now unknown as well as known, from the beginning of the world to the Closing Date (collectively, the “Loan Party Released Claims”). Seller shall refrain from directly or indirectly asserting any Claim or commencing (or causing to be commenced) any Action of any kind before any court, arbitrator or Governmental Authority against any Released Party based upon any Released Claim. Notwithstanding anything to the contrary, this Section 7.7 shall not apply to any Claims, rights or other Actions arising out of or related this Agreement.
(b) In consideration of the sale of the Membership Interests pursuant to the Credit Agreementterms hereof, the other Loan DocumentsPurchaser hereby forever fully and irrevocably releases and discharges Company and its Released Parties from any and all Actions, demands, debts, accounts, covenants, contracts, arrangements, promises, obligations, damages, judgments, or Liabilities of any kind, in law or equity, and causes of action of every kind and nature, or otherwise (including claims for damages, costs, expenses, and attorneys’, brokers’ and accountants’ fees and expenses) which Newtek has or may have against the transactions contemplated thereinCompany and/or the Released Parties, whether now knownknown or unknown, suspected or claimedunsuspected, whether arising under common lawand that now exist or may hereafter accrue based on matters now unknown as well as known, in equity or under statute, which any Loan Party ever had or now has against from the Released Lender Parties which may have arisen at any time on or prior beginning of the world to the date of this AgreementClosing Date with respect to the contractual and other relationship between the Company and Newtek. Each Loan Party covenants and agrees never to Newtek shall refrain from directly or indirectly asserting any Claim or commencing (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause causing to be commenced commenced) any Action of any kind before any court, arbitrator or prosecuted Governmental Authority against any of the Released Lender Parties any action or other proceeding Party based upon any of the Loan Party types of Claims which may have arisen at any time on or prior released by this Section 7.7(b). Notwithstanding anything to the date contrary, this Section 7.7 shall not apply to any Claims, rights or other Actions arising out of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the Obligations.
Appears in 1 contract
Sources: Membership Interest Purchase Agreement (Newtek Business Services Corp.)
Release. (a) In consideration of the agreements of the Administrative Agent and the Lenders contained herein and for other good and valuable considerationKendle's payments hereunder, the receipt and sufficiency of which is hereby acknowledgedPayee, each Loan Party hereby unconditionally and irrevocably remises, acquitsindividually, and on beh▇▇▇ ▇▇ ▇ny other person claiming by or through the Payee, to the fullest extent permitted by applicable law, hereby irrevocably and unconditionally, fully and forever acquits, releases and discharges the Administrative Agent Kendle, each of its subsidiaries and the Lenders affiliates, and all each of ▇▇▇▇▇ respective affiliates individual, joint or mutual, past, present and subsidiaries of the Administrative Agent and the Lendersfuture officers, their respective officersdirectors, stockholders, employees, agents, attorneys, principals, advisors, directors and shareholders, representatives (in their respective capacities as such) and their respective heirs, legal representatives, successors and assigns (individually, a "Releasee" and collectively, the “Released Lender Parties”) "Releasees"), from any and all actions, claims, demands, proceedings, causes of action, obligations, remediescontroversies, suits, damages charges, complaints, reckonings, bonds, bills, specialties, covenants, orders, judgments, promises, contracts, agreements, debts, accounts, variance, damages, obligations and liabilities whatsoever, whether known or unknown, existing or contingent (collectively"Claims") which the Payee and the Payee's respective affiliates, heirs, executors, administrators, successors and assigns now have, have ever had or may hereafter have against the “Loan Party Claims”respective Releasees arising after the Closing Date (as defined in the APA) but prior to the date of this Agreement except for any Claims arising out of or related to the Credit AgreementCPR Documents.
(b) The Payee hereby irrevocably covenants to refrain from, the other Loan Documentsdirectly or indirectly, asserting any Claim, or the transactions contemplated thereincommencing, whether now known, suspected instituting or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause causing to be commenced or prosecuted commenced, any proceeding of any kind against any of the Released Lender Parties any action or other proceeding Releasee, based upon any of the Loan Party Claims which may have arisen at any time on or prior matter purported to the date of this Agreement. Each Loan Party be released hereby.
(c) The Payee acknowledges and agrees that the Released Lender Parties have acted Payee has had an opportunity to seek advice of counsel in good faith in negotiating and entering into connection with this Agreement and that the covenants contained herein are reasonable in geographical and temporal scope and in all other respects.
(d) The provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and shall be construed broadly so as to effectuate the termination intent of the Loan Documents Parties, but not so broadly as to require that any provision must be declared or be determined by any court to be illegal or invalid. If any provision of this Agreement is held invalid or unenforceable by any court of competent jurisdiction, the other provisions in this Agreement will remain in full force and effect. Any provision of this Agreement held invalid or unenforceable only in part or degree will remain in full force and effect to the repayment, satisfaction extent not held invalid or discharge of the Obligationsunenforceable.
Appears in 1 contract
Sources: Note Prepayment Agreement (Kendle International Inc)
Release. In consideration (a) Effective as of the agreements Effective Date, each Party (in such capacity, the “Releasing Party”) does hereby, for itself and each of its affiliates (in the case of the Administrative Agent and Manager) or controlled affiliates (in the Lenders contained herein and for other good and valuable considerationcase of the Company), the receipt and sufficiency of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquits, and fully release and forever releases discharge the other Party and discharges the Administrative Agent and the Lenders and all respective its affiliates and subsidiaries each of the Administrative Agent and the Lenders, their respective current or former stockholders, directors, officers, employeesagents and employees (in each case, agents, attorneys, principals, advisors, directors and shareholders, in such person’s respective capacity as such) and their respective heirs, legal representativesexecutors, administrators, successors and assigns (collectivelyassigns, the “Released Lender Parties”) from any and all claims, demands, causes of action, obligations, remedies, suits, damages and liabilities (collectively, the “Loan Party Claims”) arising out of or related whatsoever to the Credit Agreement, Releasing Party or any of its affiliates (in the other Loan Documents, case of the Manager) or controlled affiliates (in the transactions contemplated thereincase of the Company), whether now known, suspected at law or claimedin equity (including any right of contribution), whether arising under any contract, by operation of law or otherwise, existing or arising from any acts or events occurring or failing to occur or alleged to have occurred or to have failed to occur or any conditions existing or alleged to have existed at or before the Effective Date; provided, however, that this release does not purport to apply to (i) any indemnification obligations pursuant to the Management Agreement, which obligations shall survive as set forth therein or (ii) any rights of a Party under this Agreement.
(b) Each Releasing Party expressly understands and acknowledges that it is possible that unknown losses or claims exist or might come to exist or that present losses may have been underestimated in amount, severity, or both. Accordingly, each Releasing Party is deemed expressly to understand provisions and principles of law such as Section 1542 of the Civil Code of the State of California (as well as any and all provisions, rights and benefits conferred by any law of any state or territory of the United States, or principle of common law, in equity which is similar or under statutecomparable to Section 1542), which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this AgreementSection provides: A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR. Each Loan Releasing Party covenants and agrees never is hereby deemed to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and agree that the provisions hereof of Section 1542 and all similar federal or state laws, rights, rules or legal principles of California or any other jurisdiction that may be applicable herein, are not hereby knowingly and voluntarily waived and relinquished with respect to the release in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the ObligationsSection 5.01(a).
Appears in 1 contract
Sources: Internalization Agreement (Granite Point Mortgage Trust Inc.)
Release. In consideration of the agreements foregoing and upon fulfillment of the Administrative Agent and the Lenders contained herein and for other good and valuable considerationconditions of this Agreement, the receipt and sufficiency of which is Thomet hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquits, and fully and forever releases and discharges the Administrative Agent and Company, the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective Company’s officers, directors, principals, control persons, past and present employees, agents, attorneysinsurers, principalssuccessors, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns (collectively, the “Released Lender Company Parties”) from any and all claimsactions, demands, causes cause of action, obligations, remedies, suits, damages debts, dues, sums of money, accounts, reckonings, bonds, bills, specialties, covenants, contracts, controversies, agreements, promises, variances, trespasses, damages, judgments, extents, executions, claims, and liabilities (collectivelydemands whatsoever, in law, admiralty or equity, Thomet ever had, now has or hereafter can, shall or may, have for, upon, or by reason of any matter, cause or thing whatsoever, whether or not known or unknown, in connection with the “Loan Party Claims”) arising out Owed Amount, from the beginning of or related the world to the Credit Agreement, the other Loan Documents, or the transactions contemplated therein, whether now known, suspected or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to day of the date of this AgreementRelease. Each Loan Party covenants and agrees never to (and never to cause Notwithstanding anything in this paragraph, Thomet does not waive any rights that he derives from this Agreement or any other Loan Party to) commenceagreement that he may enter into with the Company pursuant to Section 4 below. Thomet hereby confirms that, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any upon receipt of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements items set forth in this Paragraph 6 Section 2 hereof, the Company shall survive have no obligation to pay any other fees, expenses, accrued but unpaid interest or dividends or any other payment or reimbursements that comprise the termination Owed Amount, except for payments and rights set forth in the COD as modified in Section 2(b) hereof. Thomet hereby agrees to release any security interest that he may have against the Company’s assets. Thomet represents and warrants that no other person or expiration of this Agreement entity has any interest in the Owed Amount and the termination that he has not pledged, and that it has not assigned or transferred, or purported to assign or transfer, to any person or entity all or any portion of the Loan Documents and the repayment, satisfaction or discharge of the ObligationsOwed Amount.
Appears in 1 contract
Release. In consideration of the agreements of the Administrative Agent and the Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each of the Loan Party Parties hereby unconditionally and irrevocably remises, acquits, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective officers, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns (collectively, the “Released Lender Parties”) from any and all claims, demands, causes of action, obligations, remedies, suits, damages and liabilities (collectively, the “Loan Party Claims”) arising out of or related to the Credit Agreement, the other Loan Documents, or the transactions contemplated therein, whether now known, suspected or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this Agreement. Each of the Loan Party Parties covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each of the Loan Party Parties acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements of the Loan Parties set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the Obligations.
Appears in 1 contract
Sources: Credit Agreement (FXCM Inc.)
Release. In consideration of the agreements of the Administrative Agent (a) The Borrower and the Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each Loan Party Guarantor hereby unconditionally and irrevocably remises, acquits, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective officers, servants, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns (collectively, the “"Released Lender Parties”") from any and all claims, demands, causes of action, obligations, remedies, suits, damages and liabilities (collectively, the “Loan Party "Borrower Claims”") arising out of or related to the Credit Agreement, the other Loan Documents, or the transactions contemplated thereinany nature whatsoever, whether now known, suspected or claimed, whether arising under common law, in equity or under statute, which the Borrower or any Loan Party Guarantor ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this Agreement. Each Second Waiver and which were in any manner related to any of the Loan Party Documents or the enforcement or attempted enforcement by the Administrative Agent or the Lenders of rights, remedies or recourses related thereto.
(b) The Borrower and each Guarantor covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Borrower Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges Second Waiver and agrees that the Released Lender Parties have acted were in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, manner related to any of the Released Lender Parties to any Loan Party. Documents.
(c) The agreements of the Borrower and each Guarantor set forth in this Paragraph Section 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the ObligationsSecond Waiver.
Appears in 1 contract
Sources: Second Waiver (Kevco Inc)
Release. In consideration (a) Effective for all purposes as of the agreements Closing, except in the case of Fraud, Purchaser, its Affiliates (including the Administrative Agent Target Companies) and the Lenders contained herein their respective successors and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each Loan Party assigns hereby unconditionally and irrevocably remises, acquits, and fully and forever releases and discharges the Administrative Agent Seller and the Lenders each of its Affiliates, Subsidiaries, successors and all respective affiliates assigns and subsidiaries any of the Administrative Agent and the Lenders, their respective present or former directors, managers, officers, members, partners, equityholders, trustees, employees, agents, attorneyscounsel or advisors (each, principalsa “Seller Released Party”), advisorsof and from, directors and shareholdershereby unconditionally and irrevocably waive, any and all Liabilities whatsoever (whether known or unknown, asserted or unasserted, absolute or contingent, accrued or unaccrued and whether due or to become due) arising directly or derivatively through any Target Company and that occurred, existed or was taken prior to Closing. Notwithstanding anything to the contrary in this Section 6.11(a), the provisions of this Section 6.11(a) and the releases contained herein shall (i) not release or discharge any Seller Released Party from its respective obligations and Liabilities arising under this Agreement or any Transaction Document, (ii) only relate to those claims arising from conduct occurring prior to the Closing or any agreement in effect prior to the Closing (other than any agreement entered into in order to effectuate this Agreement), and (iii) not release or discharge any claim that may not be released as a matter of applicable Law.
(b) Effective for all purposes as of the Closing, Seller, its Affiliates and their respective heirs, legal representatives, successors and assigns (collectively, the “Released Lender Releasing Parties”) from hereby unconditionally and irrevocably and forever releases and discharges Purchaser, the Target Companies and its and their respective Affiliates, and each of their respective successors and assigns, and any present or former directors, managers, officers, employees or agents of such Person (each, a “Released Party”), of and from, and hereby unconditionally and irrevocably waive, any and all claims, demandsdebts, losses, expenses, proceedings, covenants, liabilities, suits, judgments, damages, actions and causes of action, obligations, remediesaccounts, suits, damages and liabilities (collectivelyof any kind or character whatsoever, the “Loan Party Claims”) arising out of known or related to the Credit Agreement, the other Loan Documents, or the transactions contemplated therein, whether now knownunknown, suspected or claimed, whether arising under common lawunsuspected, in contract, direct or indirect, at law or in equity or under statute, which any Loan Party that such party ever had or now has against any Released Party, for or by reason of any matter, circumstance, event, action, inaction, omission, cause or thing whatsoever in respect of (x) his, her or its direct or indirect ownership interest in the Released Lender Parties which may have arisen at Target Companies or any time on right to any Company Securities or other ownership interest in the Target Companies, issued or issuable or agreed to be issued by any Person prior to the date Closing and (y) any obligation of Purchaser, the Target Companies or any of their respective Affiliates, to make any payment to such Releasing Party in respect of his, her or its Company Securities or his, her or its status as a manager, officer, employee, consultant or agent of either Target Company. Notwithstanding anything to the contrary in this Section 6.11(b), the provisions of this Section 6.11(b) and the releases contained herein shall (i) not release or discharge any Released Party from its respective obligations and Liabilities arising under this Agreement or any Transaction Document, (ii) only relate to those claims arising from conduct occurring on or before the Closing or any agreement in effect on or before the Closing (other than any agreement entered into in order to effectuate this Agreement), and (iii) not release or discharge any claim that may not be released as a matter of applicable Law.
(c) Each Releasing Party in clauses (a) and (b) above expressly waives all rights afforded by any statute which limits the effect of a release with respect to unknown claims. Each Party understands the significance of this release of unknown claims and waiver of statutory protection against a release of unknown claims, and acknowledge and agree that this waiver is essential and material consideration in exchange for the other Party’s entry into this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted other Party will be relying on the waiver and release provided in good faith this Section 6.11 in negotiating and connection with entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the ObligationsAgreement.
Appears in 1 contract
Sources: Securities Purchase Agreement (Applied Industrial Technologies Inc)
Release. In Each Credit Party hereby acknowledges and agrees that: (i) neither it nor any of its Subsidiaries has any claim or cause of action against the Agent or any Lender (or any of their respective Affiliates, officers, directors, employees, attorneys, consultants or agents in their capacities for the Agent or any Lender) in connection with the Loan Documents and (ii) the Agent and each Lender has heretofore properly performed and satisfied in a timely manner all of its obligations to the Credit Parties and their Subsidiaries under the Credit Agreement and the other Loan Documents that are required to have been performed on or prior to the date hereof. Notwithstanding the foregoing, the Agent and the Lenders wish (and the Credit Parties agree) to eliminate any possibility that any past conditions, acts, omissions, events or circumstances would impair or otherwise adversely affect any of the Agent’s and the Lenders’ rights, interests, security and/or remedies under the Credit Agreement and the other Loan Documents. Accordingly, for and in consideration of the agreements of the Administrative Agent contained in this Amendment and the Lenders contained herein and for other good and valuable consideration, each Credit Party (for itself and its Subsidiaries and the receipt successors, assigns, heirs and sufficiency representatives of which is each of the foregoing) (collectively, the “Releasors”) does hereby acknowledgedfully, each Loan Party hereby finally, unconditionally and irrevocably remises, acquits, and fully release and forever releases discharge the Agent, each Lender and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries each of the Administrative Agent and the Lenders, their respective Affiliates, officers, directors, employees, agents, attorneys, principals, advisors, directors consultants and shareholders, and agents in their respective heirs, legal representatives, successors and assigns capacities as the Agent or any Lender (collectively, the “Released Lender Parties”) from any and all debts, claims, obligations, damages, costs, attorneys’ fees, suits, demands, liabilities, actions, proceedings and causes of action, obligations, remedies, suits, damages and liabilities (collectively, the “Loan Party Claims”) arising out of or related to the Credit Agreement, the other Loan Documents, or the transactions contemplated thereinin each case, whether now knownknown or unknown, suspected contingent or claimedfixed, direct or indirect, and of whatever nature or description, and whether arising in law or in equity, under common lawcontract, in equity tort, statute or under statuteotherwise, which any Loan Party ever Releasor has heretofore had or now has against the Released Lender Parties which or hereafter can, shall or may have arisen at against any time Released Party by reason of any act, omission or thing whatsoever done or omitted to be done on or prior to the date of Seventh Amendment Effective Date arising out of, connected with or related in any way to this Agreement. Each Loan Party covenants and agrees never to (and never to cause Amendment, the Credit Agreement or any other Loan Party to) commenceDocument, voluntarily aid in or any wayact, prosecute event or cause to be commenced transaction related or prosecuted against attendant thereto, or the agreements of the Agent or any Lender contained therein, or the possession, use, operation or control of any of the Released Lender Parties assets of any action Credit Party, or the making of any Loans or other proceeding based upon any advances, or the management of such Loans or advances or the Loan Party Claims which may have arisen at any time on or Collateral prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the ObligationsSeventh Amendment Effective Date.
Appears in 1 contract
Release. In consideration By execution of this Agreement, each of the agreements Credit Parties, singly and for each of their respective successors and assigns, jointly and severally hereby acknowledges and confirms that the Credit Parties do not have, either singly or jointly, any offsets, defenses, rights of recoupment or claims of any kind or nature against the Administrative Agent or the Lenders or any of their officers, agents, directors or employees, whether asserted or unasserted arising from or in any way related to the Fundamental Documents, this Amendment, the Obligations and the Lenders contained herein and for other good and valuable considerationtransactions contemplated thereby or hereby. To the extent that any Credit party may have such offsets, the receipt and sufficiency of which is hereby acknowledgeddefenses, rights or recoupment or claims, each Loan Credit Party hereby unconditionally and irrevocably remiseseach of its respective successors, acquitsassigns, parents, subsidiaries, affiliates, predecessors, employees and fully agents, as applicable, jointly and severally, releases and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective subsidiaries, affiliates, officers, directors, shareholders, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns assigns, both present and former (collectively, collectively the “Released Lender PartiesLenders’ Affiliates”) ), of and from any and all claimsmanner of action and actions, demands, cause and causes of action, obligations, remedies, suits, damages debts, controversies, damages, judgment, executions, claims and liabilities (collectivelydemands whatsoever, the “Loan Party Claims”) arising out of asserted or related to the Credit Agreement, the other Loan Documents, or the transactions contemplated therein, whether now known, suspected or claimed, whether arising under common lawunasserted, in law or in equity or under statute, which any Loan Credit Party ever had, now have or which any Credit Party’s successors, assigns, parents, subsidiaries, affiliates, predecessors, employees or agents, as applicable, both present and former, ever had or now has has, upon or by reason of any manner, cause, causes or thing whatsoever, including, without limitation, any presently existing claim or defense whether or not presently suspected, contemplated or anticipated against the Released Lender Parties which may have arisen at Lenders or the Lenders’ Affiliates. It is understood and agreed that the release set forth above will not be impaired or otherwise affected by the occurrence of an Event of Default and the Administrative Agent’s exercise of any time on or prior rights and remedies available to the date Administrative Agent or any Lender. The provisions of this Agreement. Each Loan Party covenants Section shall be effective and agrees never to (binding upon the Credit Parties and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any enforceable by the Administrative Agent and the Lenders as of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the ObligationsEffective Date.
Appears in 1 contract
Sources: Credit, Security, Guaranty and Pledge Agreement (First Look Studios Inc)
Release. In consideration Each Seller Party, on its behalf and, to the extent permitted by Applicable Law, on behalf of the agreements of the Administrative Agent and the Lenders contained herein and for other good and valuable considerationany such Person’s Affiliates, the receipt and sufficiency of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquits, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective officers, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representativesexecutors, successors and assigns and all Persons or entities that might allege a Claim through such Person or Person’s behalf (collectively, the “Releasor Parties”), hereby, to the extent permitted by Applicable Law, knowingly, fully, unconditionally and irrevocably acquits, exonerates and irrevocably releases (except as provided below) Buyers, LicenseCos and their respective individual, joint or mutual, past, present and future officers, directors, managers and employees (in their respective capacities as such), subsidiaries, successor and assigns thereof (collectively, the “Released Lender Parties”) ), effective as of the Closing Date, from any and all claims, demands, inquiries, investigations, counterclaims, arbitrations, proceedings, actions, causes of action, orders, judgments, obligations, remediescontracts, suitsagreements, damages debts and liabilities (collectivelywhatsoever that such Releasor Party had, the “Loan Party Claims”) arising out of or related to the Credit Agreement, the other Loan Documentsmay now have, or the transactions contemplated thereinmay hereafter have, whether now known, suspected or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties Parties, whether asserted or unasserted, known or unknown, contingent or noncontingent, or past or present, arising or resulting from or relating, directly or indirectly, to any act, omission, event or occurrence prior to the Closing relating to the Assets or any rights or interests therein, including without limitation any distributions, dividends, severance, accrued compensation (other than ordinary course compensation which has been accrued as of the Closing Date in accordance with GAAP, and in amounts consistent with the compensation accruals reflected on the Interim Financial Statements, but not yet paid), deferred compensation, purchase options, call options, redemption rights, conversion rights, rights of first refusal, tag-along rights, preemptive rights or similar rights under any of the Seller Parties’ governing documents, any consulting agreements, or under any other instrument, agreement or other contract to which any Seller Party and such Releasor Party is or was a party (the “Applicable Claims”). Notwithstanding the foregoing, nothing in this Section 6.9 will be deemed to constitute a release by any Person of any right of such Person under this Agreement or any related transaction documents or a release of any rights or claims the Buyer is acquiring pursuant to the transactions contemplated by this Agreement. Each Seller Party, and any other Person claiming through the Seller Parties, will forever refrain and forbear from commencing, instituting or prosecuting any suit, action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty kind whatsoever, by way of action, defense, set-off, cross-complaint or obligationcounterclaim, express or implied, of the against any Released Lender Parties to Party based on any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the ObligationsApplicable Claim.
Appears in 1 contract
Release. In consideration of the agreements of the Administrative Agent and the Lenders contained herein and for other (a) For good and valuable consideration, effective as of the receipt Closing, Seller, on behalf of itself and sufficiency of which is hereby acknowledgedits Affiliates, each Loan Party direct and indirect stockholders and other equityholders and other Representatives, hereby unconditionally and irrevocably remiseswaive, acquitsrelease and forever discharge each of the Sale Entities and the JV Company, and fully and forever releases and discharges each of the Administrative Agent Sale Entities’ and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective JV Company’s officers, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns employees (collectively, the “Released Lender PartiesBuyer Releasees”) from any and all any rights, claims, demands, causes debts, liabilities, damages, costs, expenses, of actionany kind whatsoever, obligations, remedies, suits, damages and liabilities (collectively, the “Loan Party Claims”) arising out of known or related to the Credit Agreement, the other Loan Documents, or the transactions contemplated therein, whether now knownunknown, suspected or claimedunsuspected, whether arising under common lawabsolute or contingent, at law or in equity or under statuteequity, which that any Loan Party such Person now has, has ever had or now has may hereafter have against any Buyer Releasee, in each case solely to the Released Lender Parties which may have arisen at any time on extent arising contemporaneously with or prior to the date Closing with respect to any fiduciary duties of the Sale Entities’ and the JV Company’s directors, officers and employees, in each individual’s capacity as such; provided however, that this release shall in no way release any Buyer Releasee from any obligation, liability, Claim or breach relating to any provision of this Agreement. Each Loan Party covenants and agrees never to (and never to cause , any other Loan Party to) commencedocument or agreement delivered hereunder, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any Contemplated Transactions.
(b) For good and valuable consideration, effective as of the Loan Party Claims which Closing, Buyer, on behalf of itself and its Affiliates, direct and indirect stockholders and other equityholders and other Representatives, hereby unconditionally and irrevocably waive, release and forever discharge Seller and Seller’s Representatives that were directors, officers or employees of the Sale Entities or the JV Company (the “Seller Releasees”) from any and all any rights, claims, demands, debts, liabilities, damages, costs, expenses, of any kind whatsoever, known or unknown, suspected or unsuspected, absolute or contingent, at law or in equity, that any such Person now has, has ever had or may hereafter have arisen at against any time on Seller Releasee, in each case solely to the extent arising contemporaneously with or prior to the date Closing and with respect to any fiduciary duties of Seller, resulting from Seller being a shareholder or equityholder of a Sale Entity or JV Company, and any fiduciary duties of Seller’s directors, officers and employees, in each individual’s capacity as such; provided however, that this release shall in no way release any Seller Releasee from any obligation, liability, Claim or breach relating to any provision of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach , any document or violation of agreement delivered hereunder, or any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the ObligationsContemplated Transactions.
Appears in 1 contract
Sources: Purchase and Sale Agreement (Southwest Gas Holdings, Inc.)
Release. In consideration A. Each of the agreements Releasing Parties desires and intends fully to compromise, release and settle any and all of the Administrative Agent Released Claims; and each of the Lenders contained herein Releasing Parties hereby covenants, warrants and for other good represents unto each of the Released Parties that such Releasing Party does hereby FOREVER RELEASE, ACQUIT, WAIVE AND DISCHARGE each of the Released Parties of and valuable considerationfrom the Released Claims and each of the Releasing Parties hereby declares the same FOREVER RELEASED, ACQUITTED, WAIVED, SETTLED AND DISCHARGED. This release is effective without regard to whether (i) such Released Claims are known or unknown, (ii) damages arising out of such Released Claims have yet accrued, (iii) such Released Claims arose collaterally, directly, derivatively, or otherwise between the receipt parties hereto or (iv) an ordinary person in the same or similar circumstances would or would not, through the exercise of due care, have discovered such claims by the date of this Fourth Amendment. In connection with the foregoing release:
B. The Borrower and sufficiency each Guarantor represents and warrants that it has the full power and authority to perform the release granted in this Section 6 and that it has not in any manner made any assignment of any Released Claim to any third party.
C. The release granted in this Section 6 will be effective upon execution of this Fourth Amendment by all of the parties hereto.
D. Each party executing this Fourth Amendment understands and agrees that the release granted in this Section 6 is a full, final and complete release of the Released Claims and that such release may be pleaded as an absolute and final bar to any or all suits which is hereby acknowledgedmay hereafter be filed or prosecuted by any one or more of the Releasing Parties or anyone claiming by, each Loan Party hereby unconditionally and irrevocably remises, acquitsthrough or under any one or more of the Releasing Parties in respect of any of the matters released hereby, and fully that no recovery on account of the Released Claims may hereafter be had from any of the Released Parties; and forever releases that the consideration given for such release is not an admission of liability or fault on the part of any of the Released Parties (it being the express intent of the parties hereto to obtain peace of mind and discharges avoid the Administrative Agent expense and uncertainty of potential litigation), and that none of the Releasing Parties or those claiming by, through or under any of them will ever claim that it is.
E. The parties hereto acknowledge that the release granted by this Section 6 does not have any effect with respect to relationships between the Borrower and each Guarantor and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and other than in connection with the Lenders, their respective officers, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns (collectively, the “Released Lender Parties”) from any and all claims, demands, causes of action, obligations, remedies, suits, damages and liabilities (collectively, the “Loan Party Claims”) arising out of or related to the Credit Agreement, the other Loan Documents, or the transactions contemplated therein, whether now known, suspected or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the ObligationsLending Relationship.
Appears in 1 contract
Release. In consideration of the agreements of the Administrative Agent and the Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each Loan (a) Each Note Party hereby unconditionally and irrevocably remisesreleases, acquits, and fully forever discharges Collateral Agent and forever releases each of the Purchasers, and discharges the Administrative each and every past and present subsidiary, affiliate, stockholder, officer, director, agent, servant, employee, representative, and attorney of Collateral Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the LendersPurchasers (each a “Releasee”), their respective officers, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns (collectively, the “Released Lender Parties”) from any and all claims, demands, causes of action, suits, debts, liens, obligations, remediesliabilities, suitsdemands, damages losses, costs and liabilities expenses (collectivelyincluding attorneys' fees) of any kind, the “Loan character, or nature whatsoever, known or unknown, fixed or contingent, which such Note Party Claims”) arising may have or claim to have now or which may hereafter arise out of or related to the Credit Agreement, the other Loan Documents, connected with any act of commission or the transactions contemplated therein, whether now known, suspected omission of Releasee existing or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time occurring on or prior to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause Second Amendment or any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time instrument executed on or prior to the date of this AgreementSecond Amendment including, without limitation, any claims, liabilities or obligations arising with respect to the Note Purchase Agreement or the other of the Note Documents. Each Loan The provisions of this paragraph shall be binding upon each Note Party acknowledges and agrees that shall inure to the Released Lender Parties have acted in good faith in negotiating benefit of Releasees, and entering into this Agreement their respective heirs, executors, administrators, successors and that assigns, and the provisions hereof are not in breach or violation other released parties set forth herein. No Note Party is aware of any duty claim or obligationoffset against, express or implieddefense or counterclaim to, of any Note Party’s obligations or liabilities under the Released Lender Parties to Note Purchase Agreement or any Loan Partyother Note Document. The agreements set forth in provisions of this Paragraph 6 Section shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge payment in full of the Obligations., full performance of the terms of this Second Amendment and the Note Documents, and/or Collateral Agent’s or each Purchaser’s actions to exercise any remedy available under the Note Documents or otherwise. Each Note Party warrants and represents that such Note Party is the sole and lawful owner of all right, title and interest in and to all of the claims released hereby and each Note Party has not heretofore voluntarily, by operation of law or otherwise, assigned or transferred or purported to assign or transfer to any person any such claim or any portion thereof.
Appears in 1 contract
Sources: Note Purchase Agreement (Capstone Green Energy Corp)
Release. In consideration (a) Each Party individually and collectively, on behalf of the agreements of the Administrative Agent itself, its direct and the Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquitsindirect subsidiaries that it controls, and its predecessors, successors and assigns, (the “Releasing Party”) intending to be legally bound hereby, does hereby absolutely fully and forever releases release, relieve, remise and discharges discharge (the Administrative Agent “Release”) the other Party, its predecessors and the Lenders successors, and past and present assigns, representatives, subsidiaries, divisions, affiliates, parents, partners, and all respective affiliates and subsidiaries of the Administrative Agent and the Lenderstheir officers, their respective officersdirectors, agents, employees, agentsinsurers, and attorneys, principals, advisors, directors both past and shareholders, and their respective heirs, legal representatives, successors and assigns present (collectively, the hereinafter “Released Lender Parties”) ), of and from any and all manner of claims, demands, actions, causes of action, suits, damages, promises, debts, dues, sums of money, accounts, reckonings, bonds, bills, specialties, covenants, contracts, controversies, agreements, variances, trespasses, judgments, extents, executions, compensation, losses, obligations, remediescosts, suits, damages expenses and other liabilities (collectively, the “Loan Party Claims”) arising out of any kind or related to the Credit Agreement, the other Loan Documents, or the transactions contemplated thereinnature whatsoever, whether now known, suspected in law or claimedequity, whether arising under common lawknown or unknown which against any or all of them the Releasing Parties ever had, in equity now have or under statutehereinafter can, which any Loan Party ever had shall or now has against may have, from the Released Lender Parties which may have arisen at any time on or prior beginning of the world to the date of this Agreementhereof. (“Claims”).
(b) Each Loan Releasing Party covenants and agrees never not to institute, maintain, collect or proceed against Released Parties on any Claims (“Covenant Not to ▇▇▇”).
(c) The Parties accept and never assume the risk that if any fact or circumstance is found, suspected, or claimed hereafter to cause be other than or different from the facts or circumstances now believed to be true, the Release and Covenant Not to ▇▇▇ contained herein shall be and remain in effect notwithstanding any other Loan Party to) commence, voluntarily aid such difference in any way, prosecute such facts or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the Obligationscircumstances.
Appears in 1 contract
Release. In consideration of the agreements of the Administrative (a) Each Obligor signatory hereto hereby releases and forever discharges Agent and the Lenders contained herein and for other good their respective parents, subsidiaries and valuable considerationaffiliates, the receipt and sufficiency of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquitspast or present, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries each of the Administrative Agent and the Lendersthem, as well as their respective directors, officers, agents, servants, employees, agentsshareholders, representatives, attorneys, principalsadministrators, advisorsexecutors, directors heirs, assigns, predecessors and shareholderssuccessors in interest, and their respective heirsall other persons, legal representativesfirms or corporations with whom any of the former have been, successors are now, or may hereafter be affiliated, and assigns each of them (collectively, the “Released Lender PartiesReleasees”) ), from and against any and all claims, demands, liens, actions, suits, causes of actionaction in law or equity, obligations, remediescontroversies, suitsdebts, damages costs, expenses, damages, judgments, orders and liabilities of whatever kind or nature in law, equity or otherwise, whether known or unknown, fixed or contingent, suspected or unsuspected by such Obligor, and whether concealed or hidden (collectively, the “Loan Party Claims”) arising ), which such Obligor now owns or holds or has at any time heretofore owned or held, which are based upon or arise out of or related in connection with any matter, cause or thing existing at any time prior to the Credit Agreementdate hereof or anything done, omitted or suffered to be done or omitted at any time prior to the date hereof in connection with the Loan Agreement or the other Loan Documents (collectively the “Released Matters”).
(b) Each Obligor represents, warrants and agrees, that in executing and entering into this release, it is not relying and has not relied upon any representation, promise or statement made by anyone which is not recited, contained or embodied in this Amendment, the Loan Agreement or the other Loan Documents. Each Obligor has reviewed this release with such ▇▇▇▇▇▇▇’s legal counsel, and understands and acknowledges the significance and consequence of this release. Each Obligor understands and expressly assumes the risk that any fact not recited, contained or embodied therein may turn out hereafter to be other than, different from, or contrary to the transactions contemplated thereinfacts now known to such Obligor or believed by such Obligor to be true. Nevertheless, whether now knowneach Obligor intends by this release to release fully, suspected finally and forever all Released Matters and agrees that this release shall be effective in all respects notwithstanding any such difference in facts, and shall not be subject to termination, modification or claimedrescission by reason of any such difference in facts.
(c) Each Obligor, whether arising under common on behalf of itself and its successors, assigns, and other legal representatives, hereby absolutely, unconditionally and irrevocably, covenants and agrees with each Releasee that it will not sue (at law, in equity or under statuteequity, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute regulatory proceeding or cause to be commenced or prosecuted against otherwise) any of Releasee on the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation basis of any duty or obligationClaims released, express or impliedremised and discharged by such Obligor pursuant to this Section 9. If any Obligor violates the foregoing covenant, such ▇▇▇▇▇▇▇ agrees to pay, in addition to such other damages as any Releasee may sustain as a result of the Released Lender Parties to such violation, all attorneys’ fees and costs incurred by any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration Releasee as a result of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the Obligationssuch violation.
Appears in 1 contract
Sources: Loan, Security and Guarantee Agreement (GEE Group Inc.)
Release. In The Agents and the Lenders wish (and each Loan Party agrees) to eliminate any possibility that any past conditions, acts, omissions, events or circumstances would impair or otherwise adversely affect any of the Agents' and the Lenders' rights, interests, security and/or remedies under the Financing Agreement and the other Loan Documents. Accordingly, for and in consideration of the agreements of the Administrative Agent contained in this Amendment and the Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each Loan Party hereby unconditionally (for itself and irrevocably remises, acquits, and fully and forever releases and discharges the Administrative Agent its Affiliates and the Lenders successors, assigns, heirs and all respective affiliates and subsidiaries representatives of each of the Administrative Agent and the Lenders, their respective officers, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns foregoing) (collectively, the “"Releasors") does hereby fully, finally, unconditionally and irrevocably release and forever discharge each Agent, each Lender and each of their respective Affiliates, officers, directors, employees, attorneys, consultants and agents (collectively, the "Released Lender Parties”") from any and all debts, claims, obligations, damages, costs, attorneys' fees, suits, demands, liabilities, actions, proceedings and causes of action, obligationsin each case, remedieswhether known or unknown, suitscontingent or fixed, damages direct or indirect, and liabilities (collectivelyof whatever nature or description, and whether in law or in equity, under contract, tort, statute or otherwise, which any Releasor has heretofore had or now or hereafter can, shall or may have against any Released Party by reason of any act, omission or thing whatsoever done or omitted to be done prior to the Fifth Amendment Effective Date arising out of, connected with or related in any way to this Amendment, the “Loan Party Claims”) arising out of Financing Agreement or related to the Credit Agreement, the any other Loan DocumentsDocument, or any act, event or transaction related or attendant thereto, or the transactions contemplated agreements of any Agent or any Lender contained therein, whether now knownor the possession, suspected use, operation or claimedcontrol of any of the assets of each Loan Party, whether arising under common lawor the making of any Loans or other advances, in equity or under statute, which any Loan Party ever had the management of such Loans or now has against advances or the Released Lender Parties which may have arisen at any time on or Collateral prior to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the ObligationsFifth Amendment Effective Date.
Appears in 1 contract
Sources: Financing Agreement (Aurora Diagnostics Holdings LLC)
Release. In consideration Each of Assignor and Assignee (the agreements “Releasing Party”), on behalf of itself, its successors and assigns, hereby completely releases and forever discharges the Administrative Agent other party (the “Released Party” and the Lenders contained herein Released Party’s past, present and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquits, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective officers, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representatives, future successors and assigns (collectively, such Released Party and its successors and assigns being individually called a “Releasee” and collectively the “Released Lender PartiesReleasees”) from any and all claims, disputes, demands, proceedings, arbitrations, causes of action, rights, damages, obligations, remediescontracts, suitsagreements, damages debts and liabilities (collectively, the “Loan Party Claims”) arising out of or related to the Credit Agreement, the other Loan Documents, or the transactions contemplated thereinwhatsoever, whether now knownknown or unknown, suspected or claimedunsuspected, or whether arising under common law, at law or in equity or under statuteequity, which the Releasing Party or any Loan Party of its successors or assigns now has, has ever had or now has against the Released Lender Parties which may hereafter have arisen at any time on or prior to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Releasees arising on account of, or arising out of any matter relating to: (a) CR-3 (as defined in the Acquisition Agreement); (b) the Releasing Party’s interests therein; (c) the Participation Agreement; (d) the Released Lender Parties Party’s covenants, obligations, duties, representations, warranties, or actions under or pursuant to the Participation Agreement; or (e) the construction, operation, maintenance or use of CR-3. Provided however, that notwithstanding the other provisions of the Section 4: (i) Assignor does not hereby release or discharge Releasees with respect to any action claims by third parties insofar as Assignor may be, or other proceeding based upon may have been, but for the execution of this Agreement, entitled to indemnification or contribution from or against any Releasees for any liability arising out of such claims; and (ii) neither party releases the Releasees with respect to any obligations of the Released Party under the Acquisition Agreement, including the Settlement-Related Documents, as defined therein. Without in any way limiting any of the Loan Party Claims which may have arisen at rights and remedies otherwise available to any time on or prior Releasee, each party, to the date extent not prohibited by Florida law, shall indemnify and hold harmless each Releasee from and against all loss, liability, claim, damage (including, without limitation, incidental and consequential damages) or expense (including, without limitation, costs of this Agreement. Each Loan Party acknowledges investigation and agrees that defense and reasonable attorney’s fees and costs) arising directly or indirectly from or in connection with the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that assertion by or on behalf of the provisions hereof are not in breach Releasing party, or violation any of the Releasing Party’s successors or assigns, of any duty claim or obligation, express or implied, of the Released Lender Parties other matter purported to any Loan Party. The agreements set forth in be released pursuant to this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the Obligationsrelease.
Appears in 1 contract
Sources: Settlement Agreement
Release. In consideration of the agreements of the Administrative Agent and the Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each Loan (a) Each Note Party hereby unconditionally and irrevocably remisesreleases, acquits, and fully forever discharges Collateral Agent and forever releases each of the Purchasers, and discharges the Administrative each and every past and present subsidiary, affiliate, stockholder, officer, director, agent, servant, employee, representative, and attorney of Collateral Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the LendersPurchasers (each a “Releasee”), their respective officers, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns (collectively, the “Released Lender Parties”) from any and all claims, demands, causes of action, suits, debts, liens, obligations, remediesliabilities, suitsdemands, damages losses, costs and liabilities expenses (collectivelyincluding attorneys' fees) of any kind, the “Loan character, or nature whatsoever, known or unknown, fixed or contingent, which such Note Party Claims”) arising may have or claim to have now or which may hereafter arise out of or related to the Credit Agreement, the other Loan Documents, connected with any act of commission or the transactions contemplated therein, whether now known, suspected omission of Releasee existing or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time occurring on or prior to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause Seventh Amendment or any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time instrument executed on or prior to the date of this AgreementSeventh Amendment including, without limitation, any claims, liabilities or obligations arising with respect to the Note Purchase Agreement or the other of the Note Documents. Each Loan The provisions of this paragraph shall be binding upon each Note Party acknowledges and agrees that shall inure to the Released Lender Parties have acted in good faith in negotiating benefit of Releasees, and entering into this Agreement their respective heirs, executors, administrators, successors and that assigns, and the provisions hereof are not in breach or violation other released parties set forth herein. No Note Party is aware of any duty claim or obligationoffset against, express or implieddefense or counterclaim to, of any Note Party’s obligations or liabilities under the Released Lender Parties to Note Purchase Agreement or any Loan Partyother Note Document. The agreements set forth in provisions of this Paragraph 6 Section shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge payment in full of the Obligations, full performance of the terms of this Seventh Amendment and the Note Documents, and/or Collateral Agent’s or each Purchaser’s actions to exercise any remedy available under the Note Documents or otherwise. Each Note Party warrants and represents that such Note Party is the sole and lawful owner of all right, title and interest in and to all of the claims released hereby and each Note Party has not heretofore voluntarily, by operation of law or otherwise, assigned or transferred or purported to assign or transfer to any person any such claim or any portion thereof.
Appears in 1 contract
Release. In Borrower hereby acknowledges and agrees that: (a) to its knowledge neither it nor any of its Affiliates have any claim or cause of action against Bank (or any of its Affiliates, officers, directors, employees, attorneys, consultants or agents) under the Loan Agreement as of the date hereof and (b) to its knowledge, as of the date hereof, Bank has heretofore properly performed and satisfied in a timely manner all of its obligations to Borrower under the Loan Agreement. Notwithstanding the foregoing, Bank wishes to eliminate any possibility that any past conditions, acts, omissions, events or circumstances would impair or otherwise adversely affect any of Bank’s rights, interests and/or remedies under the Loan Agreement. Accordingly, for and in consideration of the agreements of the Administrative Agent contained in this Fourth Amendment and the Lenders contained herein and for other good and valuable consideration, Borrower (for itself and its Affiliates and the receipt successors and sufficiency assigns of which is each of the foregoing) (each a “Releasor” and collectively, the “Releasors”) does hereby acknowledgedfully, each Loan Party hereby finally, unconditionally and irrevocably remises, acquits, and fully release and forever releases discharge Bank and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lendersits Affiliates, their respective officers, directors, employees, agents, attorneys, principals, advisors, directors consultants and shareholders, agents (each a “Released Party” and their respective heirs, legal representatives, successors and assigns (collectively, the “Released Lender Parties”) from any and all debts, claims, obligations, damages, costs, attorneys’ fees, suits, demands, liabilities, actions, proceedings and causes of action, obligations, remedies, suits, damages and liabilities (collectively, the “Loan Party Claims”) arising out of or related to the Credit Agreement, the other Loan Documents, or the transactions contemplated thereinin each case, whether now knownknown or unknown, suspected contingent or claimedfixed, direct or indirect, and of whatever nature or description, and whether arising in law or in equity, under common lawcontract, tort, statute or otherwise, in equity each case that exist or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time occurred on or prior to the date of this Agreement. Each Loan Fourth Amendment which any Releasor has heretofore had or now shall or may have against any Released Party covenants and agrees never by reason of any act, omission or thing whatsoever done or omitted to (and never be done, except for a Released Party’s gross negligence or willful misconduct as determined by a final, non-appealable judgment of a court of competent jurisdiction, prior to cause any other Loan Party to) commencethe date hereof arising out of, voluntarily aid connected with or related in any wayway to the Loan Agreement, prosecute or cause to be commenced any act, event or prosecuted against transaction related or attendant thereto, or Bank’s agreements contained therein, or the possession, use, operation or control in connection therewith of any of the Released Lender Parties assets of Borrower, or the making of any action advance thereunder, or other proceeding based upon any the management of the Loan Party Claims which may have arisen at any time such advance, in each case on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the ObligationsFourth Amendment.
Appears in 1 contract
Sources: Loan and Security Agreement (New Age Beverages Corp)
Release. In consideration of the agreements foregoing and upon fulfillment of the Administrative Agent and the Lenders contained herein and for other good and valuable considerationconditions of this Agreement, the receipt and sufficiency of which is G▇▇▇▇▇▇▇ hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquits, and fully and forever releases and discharges the Administrative Agent and Company, the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective Company’s officers, directors, principals, control persons, past and present employees, agents, attorneysinsurers, principalssuccessors, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns (collectively, the “Released Lender Company Parties”) from any and all claimsactions, demands, causes cause of action, obligations, remedies, suits, damages debts, dues, sums of money, accounts, reckonings, bonds, bills, specialties, covenants, contracts, controversies, agreements, promises, variances, trespasses, damages, judgments, extents, executions, claims, and liabilities (collectivelydemands whatsoever, in law, admiralty or equity, G▇▇▇▇▇▇▇ ever had, now has or hereafter can, shall or may, have for, upon, or by reason of any matter, cause or thing whatsoever, whether or not known or unknown, in connection with the “Loan Party Claims”) arising out Owed Amount, from the beginning of or related the world to the Credit Agreement, the other Loan Documents, or the transactions contemplated therein, whether now known, suspected or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to day of the date of this AgreementRelease. Each Loan Party covenants and agrees never to (and never to cause Notwithstanding anything in this paragraph, G▇▇▇▇▇▇▇ does not waive any rights that he derives from this Agreement or any other Loan Party to) commenceagreement that he may have with the Company or any Company Parties. G▇▇▇▇▇▇▇ hereby confirms that, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any upon receipt of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements items set forth in this Paragraph 6 Section 2 hereof, the Company shall survive have no obligation to pay any other fees, expenses, accrued but unpaid interest or dividends or any other payment or reimbursements that comprise the termination Owed Amount, except for payments and rights set forth in the COD as modified in Section 2(b) hereof. G▇▇▇▇▇▇▇ hereby agrees to release any security interest that he may have against the Company’s assets. G▇▇▇▇▇▇▇ represents and warrants that no other person or expiration of this Agreement entity has any interest in the Owed Amount and the termination that he has not pledged, and that it has not assigned or transferred, or purported to assign or transfer, to any person or entity all or any portion of the Loan Documents and the repayment, satisfaction or discharge of the ObligationsOwed Amount.
Appears in 1 contract
Release. In consideration of (a) The Employee and anyone else claiming by or through the agreements of the Administrative Agent Employee agree not to sue ▇▇▇ further agree to release KPMG and the Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquits, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective officers, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns (collectively, the “Released Lender Parties”) from Parties with respect to any and all claims, whether currently known or unknown, that the Employee now has, has ever had, or may ever have, against KPMG or any of the other Released Parties arising from or related to the Employee's association with KPMG, compensation, benefits, other terms and conditions of association with KPMG, or the termination of such association, including, without limitation, any such claims that were or could have been asserted by the Employee or on the Employee's behalf: (x) in any federal, state, or local court, commission, or agency; (y) under any common law theory; or (z) under any employment, contract, tort, federal, state, or local law, regulation, ordinance, constitution or executive order. Notwithstanding the foregoing, nothing herein shall affect: (I) any rights to indemnification that the Employee may have under the KPMG Partnership Agreement, the KPMG Bylaws, or otherwise, or (II) any vested rights that the Employee may have under the Retirement Allowance Plan (as amended), under the Supplemental Retirement Allowance Plan (as amended), or under any other plan or policy providing retirement benefits to the Employee. The Employee represents and warrants that: the Employee is the sole owner of the actual or alleged claims, demands, rights, causes of action, obligationsand other matters that are released in Sections 6.4(a) and (b); the same have not been transferred or assigned or caused to be transferred or assigned to any other person, remediesfirm, suitscorporation or other legal entity; and the Employee has the full right and power to grant, damages execute, and liabilities deliver the releases, undertakings, and agreements contained in this Agreement.
(collectivelyb) In the event that the Employee is or has been associated with KPMG in the State of California, the “Loan Party Claims”) Employee has read and understands the following language contained in Section 1542 of the California Civil Code: A general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor. Having reviewed this provision, the Employee nevertheless hereby voluntarily waives any and all rights under this statutory provision and releases KPMG and each of the other Released Parties with respect to any and all unknown or unsuspected claims arising out of from or related to the Credit AgreementEmployee's association with KPMG, the compensation, benefits, other Loan Documentsterms and conditions of association with KPMG, or the transactions contemplated thereintermination of such association, whether now knownincluding, suspected without limitation, all such claims that were or claimedcould have been asserted by the Employee or on the Employee's behalf: (x) in any federal, whether arising state, or local court, commission, or agency; (y) under any common law theory; or (z) under any employment, contract, tort, federal, state or local law, in equity regulation, ordinance, constitution or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the Obligationsexecutive order.
Appears in 1 contract
Sources: Member Distribution Agreement (KPMG Consulting Inc)
Release. In consideration a. Each of the agreements of the Administrative Agent Parties hereby fully and the Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remisesforever releases, acquits, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenderseach other Party, their respective officers, employees, agents, attorneys, principals, advisors, directors and shareholdersClass Counsel, and their respective heirsDefense Counsel from, legal representativesand covenants not to sue (except as necessary to enforce this Agreement) each other Party, successors Class Counsel, and assigns (collectivelyDefense Counsel for, the “Released Lender Parties”) from any and all claimsClaims that the releasing Party had, demandsnow has, causes of actionor hereafter may have, obligationsthat are asserted in, remediesbased upon, suitsarise out of, damages and liabilities (collectivelyor in any way involve or relate to the Underlying Lawsuit, the “Loan Party Claims”Bad Faith Lawsuit, the Assignment, or the Policies, including but not limited to any and all Claims for (i) any coverage, rights, breaches, or benefits under or arising out of the Policies asserted in, based upon, arising out of, or related in any way involving or relating to the Credit AgreementUnderlying Lawsuit, the other Loan DocumentsBad Faith Lawsuit, or the transactions contemplated thereinAssignment, whether now knownor (ii) any act, suspected error, omission, breach of contract, breach of promise, breach of duty (including but not limited to any duty of good faith and fair dealing, fiduciary duty, statutory, regulatory, administrative, or claimedcommon law duty), whether fraud, bad faith, unfair or deceptive insurance or trade practices, extra-contractual, or misconduct of any type, nature, or kind in any handling, evaluating, investigating, adjusting, litigating, or resolving the Underlying Lawsuit, including without limitation as asserted in, based upon, arising under common lawout of, or in equity any way involving or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior relating to the date of this Agreement. Underlying Lawsuit, the Bad Faith Lawsuit, the Assignment, or the Policies.
b. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges understands, acknowledges, and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement shall be effective as a full, final, and that complete release and accord and satisfaction of each and every Claim asserted in, based upon, arising out of, or in any way involving or relating to the provisions hereof are not in breach Underlying Lawsuit, Bad Faith Lawsuit, the Assignment, or violation of any duty or obligationthe Policies, express or implied, of the Released Lender Parties to any Loan Party. The agreements except as specifically set forth in this Paragraph 6 shall survive the termination or expiration Agreement. In furtherance of this Agreement intention and the termination except as set forth in section 7.c., below, each of the Loan Documents Parties expressly waives and the repayment, satisfaction or discharge releases any and all rights that each of the ObligationsParties had, now has, or hereafter may have under Section 1542 of the California Civil Code and any similar rights that existed, now exist, or hereafter may exist in any other state, jurisdiction, or territory or under any other court decision, statute, regulation, or law. Section 1542 of the California Civil Code provides in relevant part as follows: Each of the Parties understands, acknowledges, and agrees to the significance and consequences of this waiver. Each of the Parties further understands, acknowledges, and agrees that this waiver is an essential and material term of this Agreement, and that this Agreement would not have been entered by the Parties without this waiver. As a result, each of the Parties hereby assumes full responsibility for this waiver, and hereby fully and forever releases, acquits, and discharges any and all, Claims that may hereafter occur or arise or that later become known to the Party. Each of the Parties understands, acknowledges, and agrees that each of the Parties is aware that facts or circumstances may hereafter be discovered or exist in addition to or different from those now known or believed to be true with respect to this Agreement, but that it is the intention of each of the Parties to enter into the releases in this Agreement, and thus all such releases shall remain in effect as full, final, and complete releases notwithstanding any such later discovery or existence of any such additional or different fact or circumstance. Each of the Parties understands, acknowledges, represents, and agrees that this waiver was separately bargained for and that each of the Parties has consulted with counsel of its choice regarding this waiver. Each of the Parties understands, acknowledges, represents, and agrees that this waiver shall be given full force and effect in accordance with each and every term and condition of this waiver, including but not limited to those terms and conditions relating to the waiver of unknown or unsuspected Claims.
c. Notwithstanding the foregoing, the releases above shall not include nor be construed to include any release by or of the other members of the four certified classes in the Underlying Lawsuit.
d. Each of the Parties hereby represents and warrants that: (i) each of the Parties has the sole, full, and complete right, interest, authority, control, and capacity as to any and all of the Claims, including but not limited to sole, full, and complete right, interest, authority, control, and capacity as to any and all Claims asserted in, based upon, arising from, or in any way involving or relating to the Underlying Lawsuit, the Bad Faith Lawsuit, the Assignment, or the Policies;
Appears in 1 contract
Sources: Settlement Agreement
Release. In consideration of the agreements of the Administrative Agent and the Lenders contained herein and for other good and valuable consideration(a) Borrower, the receipt Parent, and sufficiency each of which is hereby acknowledgedtheir Subsidiaries (collectively, each Loan Party the "Borrower Parties") hereby unconditionally and irrevocably remises, acquits, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates Affiliates, Bank Affiliates and subsidiaries Subsidiaries of the Administrative Agent and the Lenders, their respective officers, servants, employees, agents, attorneys, financial advisors, principals, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns (collectively, the “"Released Lender Parties”") from any and all claims, demands, causes of action, obligations, remedies, suits, damages and liabilities (collectively, the “Loan Party Claims”) arising out of or related to the Credit Agreement, the other Loan Documents, or the transactions contemplated thereinany nature whatsoever, whether now known, suspected or claimed, whether arising under common law, in equity or under statute, which any Loan Borrower Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this Agreement. Second Amendment and which were in any manner related to any of the Loan Papers or the enforcement or attempted enforcement by the Administrative Agent or the Lenders of rights, remedies or recourses related thereto (collectively, the "Borrower Claims").
(b) Each Loan Borrower Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Borrower Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges Second Amendment and agrees that the Released Lender Parties have acted were in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, manner related to any of the Released Lender Parties to any Loan Party. Papers.
(c) The agreements of each Borrower Party set forth in this Paragraph 6 Section 7 shall survive the termination or expiration of this Agreement Second Amendment and the termination of the other Loan Documents and the repayment, satisfaction or discharge of the ObligationsPapers.
Appears in 1 contract
Sources: Limited Forbearance Agreement (Pinnacle Holdings Inc)
Release. In consideration (a) The Exchanging Holder, on behalf of itself, its affiliates, its successors and assigns, irrevocably and unconditionally releases, relinquishes, waives, and forever discharges the Company, ▇▇▇▇▇▇ Financial, Inc., Midwest Mezzanine Fund II, L.P. and each of the agreements lenders under the Amended and Restated Credit Agreement dated as of December 18, 1998, as amended, among the Administrative Agent Company and Bank of America, N.A., and the Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquitslenders thereto, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries each of the Administrative Agent and the Lenders, their respective officersparents, divisions, subsidiaries, affiliates, and related companies, and their present and former agents, employees, agentsofficers, directors, attorneys, principals, advisors, directors and shareholdersfairness opinion givers, and their respective heirsstockholders, legal representativesplan fiduciaries, successors and assigns (collectivelythe "Released Parties") forever, the “Released Lender Parties”) from and against any and all claims, debts, obligations, demands, actions, suits, causes of action, obligationscosts, remediesfees, suitsand all liability whatsoever, damages and liabilities whether known or unknown, fixed or contingent, in contract or in tort, or based on any statute or other law, state or federal (collectivelycollectively "Claims") which the Exchanging Holder has, had, or may have in the “Loan Party Claims”) future against the Released Parties, relating to or arising out of or related by virtue of the Old Note, the previous failure to pay interest and principal thereon, and the transactions giving rise to the Credit Agreementissuance thereof.
(b) The Exchanging Holder hereby declares and agrees that, on the Effective Date following the Exchange, the other Loan DocumentsOld Note will be deemed paid in full and in all respects terminated and of no further force or effect.
(c) The Exchanging Holder hereby agrees not to bring any claim of any kind against any Released Party concerning any matter released by this Section 3. The Exchanging Holder agrees that this Agreement constitutes a bar to any such future claim.
(d) In confirmation of the foregoing, or the transactions contemplated thereinExchanging Holder shall, whether now knownupon the reasonable request of a Released Party, suspected or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen but at any time on or prior no out-of-pocket cost to the date of this Agreement. Each Loan Party covenants Exchanging Holder, execute and agrees never deliver such specific or further releases, terminations or other similar instruments in order to (more effectively evidence the releases, terminations and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute actions made or cause intended to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of made by this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the ObligationsSection 3.
Appears in 1 contract
Release. In consideration of the agreements Investor Parties entering into this Amendment, each Seller Party hereby fully and unconditionally releases and forever discharges each of the Administrative Agent and the Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquitsInvestor Parties, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective directors, officers, employees, agentssubsidiaries, branches, affiliates, attorneys, principalsagents, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns and all persons, firms, corporations and organizations acting on any of their behalves (collectively, the “Released Lender Parties”) ), of and from any and all claims, demandsallegations, causes of action, obligationscosts or demands and liabilities, remediesof whatever kind or nature, suits, damages and liabilities (collectively, from the “Loan Party Claims”) arising out beginning of or related the world to the Credit date on which this Amendment is executed, whether known or unknown, liquidated or unliquidated, fixed or contingent, asserted or unasserted, foreseen or unforeseen, matured or unmatured, suspected or unsuspected, anticipated or unanticipated, which any Seller Party has, had, claims to have had or hereafter claims to have against the Released Parties by reason of any act or omission on the part of the Released Parties, or any of them, occurring prior to the date on which this Amendment is executed, including all such loss or damage of any kind heretofore sustained or that may arise as a consequence of the dealings among the parties up to and including the date on which this Amendment is executed, including the administration or enforcement of the Purchase Agreement, any of the other Loan Documents, Transaction Documents or the transactions contemplated therein, whether now known, suspected or claimed, whether arising under common lawthereby, in equity each case, regarding or under statuterelating to the Purchase Agreement and the other Transaction Documents (collectively, which all of the foregoing, the "Claims”). Each Seller Party represents and warrants that it has no knowledge of any Loan Party ever had or now has claim by it against the Released Lender Parties which may have arisen at or of any time on facts or prior to the date acts of this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any omissions of the Released Lender Parties which on the date hereof would be the basis of a claim by any action Seller Party against the Released Parties which is not released hereby, in each case, regarding or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior relating to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Purchase Agreement and the termination other Transaction Documents. Each Seller Party represents and warrants that the foregoing constitutes a full and complete release of the Loan Documents and the repayment, satisfaction or discharge of the Obligationsall such Claims.
Appears in 1 contract
Sources: Receivables Purchase Agreement (Ferrellgas Partners Finance Corp)
Release. a. In consideration of the agreements of the Administrative Agent payments and the Lenders contained herein and for other good and valuable considerationbenefits described above, the receipt and sufficiency of which is Employee hereby acknowledgedacknowledges, each Loan Party hereby unconditionally Employee, on behalf of himself Employee’s heirs, executors, administrators and irrevocably remises, acquitsassigns, and each of them, hereby fully and forever unconditionally releases the Company, its respective subsidiaries, related companies, and discharges the Administrative Agent affiliates, and the Lenders each entity managed or advised by any of them, past, present, and all respective affiliates and subsidiaries of the Administrative Agent and the Lendersfuture, as well as their respective managers, directors, officers, employees, agents, attorneys, principalsemployees, advisorspartners, directors and shareholdersmembers/stockholders, representatives, benefit plan fiduciaries, assigns, and their respective heirssuccessors, legal representatives, successors past and assigns present and each of them (collectively, in their individual and representative capacities, the “Released Lender Parties”) ), from and with respect to any and all legally waivable claims, demandscomplaints, causes of actionrights, obligations, remedies, suits, damages suits and liabilities (collectively, the “Loan Party Claims”) arising out of or related to the Credit Agreement, the other Loan Documents, or the transactions contemplated therein, whether now known, suspected or claimed, whether arising under common law, in equity or under statuteactions, which any Loan Party Employee ever had or had, now has or may have against the Released Lender Parties which may have arisen at any time on or prior up to the date Employee signs this Agreement, and particularly, but without limitation, any claims arising from or relating in any way to his employment relationship or the termination of his employment relationship with the Company, [***]. Employee does not release his right to benefits under Section 6.3 of his Employment Agreement.
b. Company releases and waives all legally waivable claims, complaints, rights, suits and actions, which it ever had, now has or may have against Employee arising from or relating in any way to his employment relationship or the termination of his employment relationship with the Company up through [***].
c. Notwithstanding anything in this Agreement to the contrary, nothing in this Agreement prohibits Employee from confidentially or otherwise communicating or filing a charge or complaint with a governmental or regulatory entity, participating in a governmental or regulatory entity investigation, or giving other disclosures to a governmental or regulatory entity in each case without receiving prior authorization from or having to disclose any such conduct to the Company, or from responding if properly subpoenaed or otherwise required to do so under applicable law. Nothing in this Agreement shall be construed to affect the Equal Employment Opportunity Commission’s (“Commission”), the National Labor Relations Board’s, the Occupational Safety and Health Administration’s, the Securities and Exchange Commission’s, the Financial Industry Regulatory Authority’s, or any federal, state, or local governmental agency or commission’s (“Governmental Agencies”) or any state agency’s independent right and responsibility to enforce the law, nor does this Agreement affect Employee’s right to file a charge or participate in an investigation or proceeding conducted by either the Commission or any such Governmental Agency, [***]. This Agreement does not limit Employee’s right to receive an award for information provided to any Governmental Agencies, including under the ▇▇▇▇-▇▇▇▇▇ ▇▇▇▇ Street Reform and Consumer Protection Act of 2010 (“▇▇▇▇-▇▇▇▇▇”). Further, nothing in this Agreement prohibits Employee from testifying in an administrative, legislative or judicial proceeding regarding alleged criminal conduct or alleged unlawful employment practices (including sexual harassment) by any person or entity, when the Employee has been required or requested to attend such proceeding pursuant to court order, subpoena, or written request from an administrative agency or the legislature. Moreover, nothing in this Agreement prevents the disclosure of factual information relating to unlawful employment practices including claims of sexual assault, sexual harassment, harassment or discrimination based on sex, failure to prevent harassment or discrimination based on sex or retaliation against a person for reporting an act of harassment or discrimination based on sex, as those claims are defined under the California Fair Employment and Housing Act, to the extent the claims are filed in a civil or administrative action, and to the extent such disclosures are protected by law. Nothing in this Agreement prohibits or creates liability for any such protected conduct.
d. Execution of this Agreement does not bar any claim that arises hereafter, including (without limitation) a claim for breach of this Agreement. Each Loan Party covenants and agrees never , any claim to (and never to cause indemnity under section 2802 of the California Labor Code, any claim for unemployment benefits, or any other Loan Party to) commence, voluntarily aid in any way, prosecute claim that by law may not be released. Employee does not release or cause waive his right to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of enforce this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the Obligations.
Appears in 1 contract
Sources: Severance Agreement (Iovance Biotherapeutics, Inc.)
Release. (a) In consideration of the covenants and agreements of the Administrative Agent and the Lenders contained herein and Company in this Agreement, as well as for other good and valuable consideration, the receipt and sufficiency of which is are hereby acknowledged, each Loan Party and as a material inducement to the Company to enter into this Agreement, the Executive hereby unconditionally knowingly and irrevocably remisesvoluntarily releases, acquits, and fully acquits and forever releases and discharges the Administrative Agent Company, the Company’s present and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lendersformer owners, their respective shareholders, predecessors, successors, assigns, agents, directors, officers, employees, agentsrepresentatives, attorneys, principals, advisors, directors subsidiaries and shareholdersaffiliates, and their respective heirsall persons acting by, legal representativesthrough, successors and assigns under or in concert with any of them (collectively, the “Released Lender PartiesReleasees”) ), from any and all charges, complaints, claims, demandsliabilities, obligations, promises, agreements, controversies, damages, actions, causes of action, obligations, remedies, suits, damages rights, demands, costs, losses, debts and liabilities (collectivelyexpenses of any nature whatsoever, the “Loan Party Claims”) arising out of known or related to the Credit Agreement, the other Loan Documents, or the transactions contemplated therein, whether now knownunknown, suspected or claimedunsuspected, whether arising under common lawwhich, in equity from the beginning of the world up to and including the date of this Agreement, exist, have existed or under statutemay hereafter exist or arise, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time based on facts occurring on or prior to the date hereof, under or in connection with the Offer Letter, the Prior Agreement or his prior employment with the Company or any of this Agreement. Each Loan Party covenants and agrees never to (and never to cause its subsidiaries up through the date hereof, which the Executive or any other Loan Party to) commenceof his heirs, voluntarily aid in executors, administrators, legal representatives, successors-in-interest and/or assigns ever had, now have or at any waytime hereafter may have, prosecute own or cause to be commenced or prosecuted hold against any of the Releasees (collectively, the “Executive Released Lender Parties Claims”).
(b) By executing this Agreement, (i) the Executive hereby represents that he has not filed or permitted to be filed with any action court, governmental or administrative agency, or arbitration tribunal, any Executive Released Claims; (ii) the Executive hereby waives all Executive Released Claims against the Releasees arising under federal, state and local labor, employment, civil rights and anti-discrimination laws and any other proceeding based upon restrictions on the Company’s and its subsidiaries’ rights with respect to the modification or termination, for whatever reason, of the employment of its employees, including the Age Discrimination in Employment Act, the Americans With Disabilities Act and Title VII of the Civil Rights Act, as well as any right that the Executive may have ever had or may now have to assert or commence an Executive Released Claim against the Releasees involving any matter relating to his prior employment relationship with the Company or any of its subsidiaries up through the Loan Party Claims date hereof, or relating to the modification or termination thereof; and (iii) the Executive further covenants and agrees not to bring any Executive Released Claim or to permit any such Executive Released Claim to be filed by any other Person on his behalf.
(c) In consideration of the covenants and agreements of the Executive in this Agreement, as well as for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and as a material inducement to the Executive to enter into this Agreement, the Company hereby knowingly and voluntarily releases, acquits and forever discharges the Executive from any and all charges, complaints, claims, liabilities, obligations, promises, agreements, controversies, damages, actions, causes of action, suits, rights, demands, costs, losses, debts and expenses of any nature whatsoever, known or unknown, suspected or unsuspected, which, from the beginning of the world up to and including the date of this Agreement, exist, have existed or may have arisen at any time hereafter exist or arise, based on facts occurring on or prior to the date hereof, under or in connection with the Offer Letter, the Prior Agreement or his prior employment with the Company or any of its subsidiaries up through the date hereof, which the Company or any of its successors-in-interest and/or assigns ever had, now have or at any time hereafter may have, own or hold against the Executive (collectively, the “Company Released Claims”); provided, however, that the Company Released Claims shall not include, and the Executive shall not be released from, any such charges, complaints, claims, liabilities, obligations, promises, agreements, controversies, damages, actions, causes of action, suits, rights, demands, costs, losses, debts and expenses of any nature whatsoever, known or unknown, suspected or unsuspected, that arise out of, are based on, or constitute theft, fraud, embezzlement, or breach of fiduciary duty, or for which the Company is technically, derivatively, or vicariously liable to a third party as a result of an act or omission by the Executive, in each case whether of a civil or criminal nature and whether arising under statute, rule, or regulation or common law.
(d) By executing this Agreement. Each Loan Party acknowledges , (i) the Company hereby represents that it has not filed or permitted to be filed with any court, governmental or administrative agency, or arbitration tribunal, any Company Released Claims; (ii) the Company hereby waives any right that the Company may have ever had or may now have to assert or commence a Company Released Claim against the Executive involving any matter relating to his prior employment relationship with the Company or any of its subsidiaries up through the date hereof, or relating to the modification or termination thereof; and (iii) the Company further covenants and agrees that the not to bring any Company Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach Claim or violation of to permit any duty or obligation, express or implied, of the such Company Released Lender Parties Claim to be filed by any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the Obligationsother Person on its behalf.
Appears in 1 contract
Release. In consideration SECTION 3.1. As a material inducement to the Company to enter into this Agreement, and except for the obligations of the Company set forth or described in this Agreement or under the agreements and instruments of the Administrative Agent and the Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledgedCompany listed in Schedule 3.1 to this Agreement, each Loan Party of the Investors hereby irrevocably and unconditionally releases, acquits and irrevocably remisesforever discharges the Company, acquitsGT, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries each of the Administrative Agent and the Lenders, their respective shareholders, subsidiaries, affiliates, predecessors, successors, assigns, agents, directors, officers, employees, agents, representatives and attorneys, principalsand all persons acting by, advisorsthrough, directors and shareholders, and their respective heirs, legal representatives, successors and assigns under or in concert with any of them (collectively, the “Released Lender Parties”) "Releasees"), or any of them, from any and all charges, complaints, claims, demands, causes of action, obligations, remedies, suitspromises and agreements, damages (including attorneys' fees and liabilities (collectivelycosts actually incurred) of any nature whatsoever, the “Loan Party Claims”) known or unknown, suspected or unsuspected, including, but not limited to, rights arising out of or related to the Credit Agreement, the other Loan Documents, or the transactions contemplated therein, whether now known, suspected or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation alleged violations of any duty or obligationcontracts, express or implied, and including, but not limited to, arising out of or in connection with the Term Sheet, the transactions contemplated thereby, or the Company's determination not to proceed with the transactions contemplated by the Term Sheet (each a "Claim" and, collectively, "Claims"), that such Investor now has, owns or holds, or claims to have, own or hold, or that such Investor at any time heretofore had, owned or held, or claimed to have, own or hold against each or any of the Released Lender Parties Releasees.
SECTION 3.2. Each of the Investors hereby represents and warrants, severally and not jointly, that such Investor has not filed any complaints, charges or lawsuits against the Company, GT, or any of the Releasees, with any governmental agency or any court, and that such Investor will not do so at any time hereafter with regard to the matters released under Section 3.1, or that any such complaints, charges or lawsuits filed prior to execution of this Agreement will be withdrawn by Investor immediately after the date hereof; provided, however, that this shall not limit any Investor from filing a lawsuit for the sole purpose of enforcing such Investor's rights under this Agreement.
SECTION 3.3. Each of the Investors further represents and warrants, severally and not jointly, that such Investor has not transferred or assigned to any Loan Partyperson or entity any rights, claims and/or causes of action released herein.
SECTION 3.4. The agreements set forth Each Investor hereby represents, severally and not jointly, and agrees that such Investor fully understands such Investor's right to discuss all aspects of this Agreement with such Investor's private attorney, that to the extent, if any, that such Investor desires, such Investor has availed himself of this right, that such Investor has carefully read and fully understands all of the provisions of this Agreement, and that such Investor is voluntarily entering into this Agreement. It is fully understood and agreed that each party hereto shall pay such party's own attorneys' fees and costs in this Paragraph 6 shall survive connection with the termination or expiration negotiation and execution of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the Obligationstransactions contemplated hereby.
Appears in 1 contract
Sources: Warrant Agreement (Spectrx Inc)
Release. In consideration Each Seller Group Member, on behalf of such Seller Group Member and each of such Seller Group Member’s current or former Affiliates (other than the agreements of the Administrative Agent Group Companies), shareholders, officers and the Lenders contained herein directors, hereby releases and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, forever discharges each Loan Party hereby unconditionally and irrevocably remises, acquitsGroup Company, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries each of the Administrative Agent and the Lenders, their respective officersindividual, employeesjoint or mutual, agentspast, attorneys, principals, advisors, directors present and shareholders, and their respective heirs, legal representativesfuture Representatives, successors and assigns (individually, a “Releasee” and collectively, the “Released Lender PartiesReleasees”) from any and all claims, demands, Legal Proceedings, causes of actionaction and Orders that any Seller Group Member or any of their respective current or former Affiliates (other than the Group Companies), shareholders, officers and directors now have, have ever had or may hereafter have against the respective Releasees, and from any and all obligations, remediesContracts, suitsdebts, damages liabilities and liabilities obligations that any Releasee now has, has ever had or may hereafter have in favor of any Seller Group Member or any of their respective current or former Affiliates (other than the Group Companies), shareholders, officers and directors, in each case of any nature (whether absolute or contingent, asserted or unasserted, known or unknown, primary or secondary, direct or indirect, and whether or not accrued) arising contemporaneously with or before the Final Closing Date or on account of or arising out of any matter, cause or event occurring contemporaneously with or before the Final Closing Date (in each case other than any obligations of Buyer arising under this Agreement or any Transaction Document) (collectively, the “Loan Party Released Claims”) arising out of ). Each Seller Group Member hereby irrevocably covenants to refrain from, directly or related to the Credit Agreementindirectly, the other Loan Documentsasserting any claim or demand, or the transactions contemplated thereincommencing, whether now known, suspected instituting or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause causing to be commenced or prosecuted commenced, any Legal Proceeding of any kind against any of the Released Lender Parties any action or other proceeding Releasee, based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the ObligationsClaim.
Appears in 1 contract
Sources: Stock Purchase Agreement (Surgalign Holdings, Inc.)
Release. In consideration Effective as of the agreements Closing:
(a) Subject to Section 7(b) below, effective as of the Administrative Agent and the Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledgedEffective Time, each Loan Party hereby unconditionally Holder, on behalf of itself and irrevocably remises, acquits, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective officers, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representativesits Affiliates, successors and assigns (collectively, its “Holder Related Parties”), hereby releases and discharges Parent, the Surviving Corporation and each of their respective Affiliates, Representatives, successors and assigns (the “Releasees”) from and against any and all claims and liabilities whatsoever, whether known or unknown, both at law and in equity, which such Holder or any of its Affiliates now has, has ever had or may hereafter have against any Releasee in respect of its holding of the Convertible Note held by such Holder or the Company Warrants to be issued to such Holder (the “Released Lender Parties”) from any and all claims, demands, causes of action, obligations, remedies, suits, damages and liabilities (collectively, the “Loan Party Claims”). From and after the Closing, such Holder hereby irrevocably covenants to refrain from, and shall cause its Holder Related Parties to refrain from, directly or indirectly, asserting any Claim, or commencing or causing to be commenced any Proceeding of any kind, against any Releasee, based upon any matter purported to be released by this Section 7(a).
(b) Notwithstanding the foregoing, nothing contained in Section 7(a) will be deemed to release, discharge or waive any claims of any Person arising out of under this Agreement or related to each Holder’s right to receive the Credit Per Share Merger Consideration payable to such Holder under the Merger Agreement.
(c) Each Holder hereby agrees that neither such Holder nor any of its Holder Related Parties, the other Loan Documentsnor anyone claiming by, through, for or under them or on their behalf will bring, file, institute, prosecute, maintain, participate in, or recover upon, either directly or indirectly, or encourage or benefit from the transactions contemplated thereininstitution of, whether now known, suspected or claimed, whether arising under common lawany Claim against any Releasee, in equity or under statutebefore any court, which any Loan Party ever had Governmental Entity, arbitrator or now has against the Released Lender Parties which may have arisen at any time on mediator for or prior relating to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon Claims. Such Holder represents that neither such Holder nor any of its Holder Related Parties has filed or caused to be filed any claim, complaint, charge, or action of any kind against any Releasee that is now pending with any court, Governmental Entity, arbitrator or mediator. Such Holder further represents that such Holder has not transferred or assigned Released Claims to any third party. Such H▇▇▇▇▇ agrees to indemnify and hold harmless each Releasee from and against any losses (pursuant to a final, non-appealable judgment by a court of competent jurisdiction) in the Loan Party Claims which may have arisen at event it becomes necessary for any time on Releasee to defend any Released Claim asserted by such Holder or prior to the date of this Agreement. any Holder Related Parties.
(d) Each Loan Party Holder hereby acknowledges and agrees that the Released Lender Parties have acted Per Share Merger Consideration payable in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, respect of the Released Lender Parties Shares issued to any Loan Party. The agreements set forth such Holder as referenced in this Paragraph 6 shall survive the termination or expiration clause (a) of Section 2 of this Agreement will satisfy in full the Company’s obligations with respect to the Convertible Note held by such Holder and such Holder is not and will not be entitled to any additional payment with respect to the termination Convertible Note or the Company Warrants issued to such Holder pursuant to Section 2 of this Agreement.
(e) For the Loan Documents purposes of this Section 7, “Claims” shall mean any claim, demand, action or cause of action for payment or performance of any debt, account, covenant, contract, promise, loss, reimbursement, compensation, liability or expense including attorney’s fees, of any and the repaymentevery kind, satisfaction nature or discharge of the Obligationsdescription whatsoever, at law or in equity.
Appears in 1 contract
Sources: Conversion and Cancellation Agreement (Inrad Optics, Inc.)
Release. In consideration (a) Seller and each of the agreements of the Administrative Agent and the Lenders contained herein and for other good and valuable considerationits heirs, the receipt and sufficiency of which is hereby acknowledgedRepresentatives, each Loan Party hereby unconditionally and irrevocably remises, acquitssuccessors, and fully assigns, hereby releases and forever releases discharges Buyer and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries each of the Administrative Agent and the Lendersits officers, their respective officersdirectors, managers, employees, agents, attorneysstockholders, principalscontrolling persons, advisorsRepresentatives, directors and shareholdersAffiliates, successors, assigns, and their respective heirsthe Company (individually, legal representatives, successors a “Buyer Releasee” and assigns (collectively, the “Released Lender PartiesBuyer Releasees”) from any and all claimsActions, demandsorders, causes of actionLosses, obligationsLiabilities, remediesand, suits, damages and liabilities (collectively, the “Loan Party Claims”) arising out of or related to the Credit except as expressly contemplated by this Agreement, the other Loan Documents, or the transactions contemplated thereinContracts whatsoever, whether now knownknown or unknown, suspected or claimedunsuspected, whether arising under common law, both at Law and in equity or under statuteequity, which Seller or any Loan Party of its heirs, Representatives, successors or assigns now has, have ever had or now has may hereafter have against the Released Lender Parties which may have arisen at any time on respective Buyer Releasees arising contemporaneously with or prior to the date Closing Date or on account of this Agreement. Each Loan Party covenants and agrees never to (and never to cause or arising out of any other Loan Party to) commencematter, voluntarily aid in any waycause, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on event occurring contemporaneously with or prior to the date Closing Date including any rights to indemnification or reimbursement from the Company, whether pursuant to their respective Organizational Documents, Contract or otherwise and whether or not relating to Actions pending on, or asserted after, the Closing Date; provided, however, that nothing contained herein will operate to release any obligations of Buyer arising under this Agreement. Each Loan Party acknowledges .
(b) Buyer hereby releases and agrees that forever discharges Seller and each of its officers, directors, managers, employees, agents, stockholders, controlling persons, Representatives, Affiliates, successors, assigns (individually, a “Seller Releasee” and collectively, “Seller Releasees”) from any and all Actions, orders, Losses, Liabilities, and, except as expressly contemplated by this Agreement, Contracts whatsoever, whether known or unknown, suspected or unsuspected, both at Law and in equity, which Buyer or any of Buyer’s Representatives, successors or assigns now has, have ever had or may hereafter have against the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that respective Seller Releasees arising contemporaneously with or prior to the provisions hereof are not in breach Closing Date or violation on account of or arising out of any duty matter, cause, or obligationevent occurring contemporaneously with or prior to the Closing Date including any rights to indemnification or reimbursement from the Company, express whether pursuant to their respective Organizational Documents, Contract or impliedotherwise and whether or not relating to Actions pending on, or asserted after, the Closing Date; provided, however, that nothing contained herein will operate to release any obligations of the Released Lender Parties to any Loan Party. The agreements set forth in Seller under this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the ObligationsAgreement.
Appears in 1 contract
Sources: Membership Interest Purchase Agreement (Prospect Global Resources Inc.)
Release. In consideration of the agreements of the Administrative Agent and the Lenders contained herein and for other good and valuable considerationFor value received, the receipt and sufficiency of which is hereby acknowledgedacknowledged by the Selling Stockholder, each Loan Party as of the Closing Date the Selling Stockholder (on behalf of herself and her family members, heirs, executors, administrators, equityholders, directors, officers, members, managers, partners, agents, employees, attorneys, consultants, creditors, subsidiaries, affiliates, representatives and professional advisors and their respective predecessors, successors and assigns) hereby irrevocably, unconditionally and irrevocably remises, acquits, fully releases (and fully and forever releases and discharges covenants not to ▇▇▇) the Administrative Agent Company and the Lenders Purchasers and all their respective affiliates and subsidiaries of the Administrative Agent current and the Lendersformer equityholders, their respective directors, officers, members, managers, partners, agents, employees, agents, attorneys, principalsconsultants, advisorscreditors, directors subsidiaries, affiliates, representatives and shareholders, professional advisors and their respective heirs, legal representativespredecessors, successors and assigns (collectively, the “Released Lender Parties”) from any and all claimsobligations, demands, actions, causes of action, obligations, remedies, suits, damages counterclaims, set-offs, defenses, controversies, acts and omissions, liabilities in law and in equity, known or unknown, suspected or unsuspected, which the Party has or ever had against the Released Parties (incorporating herein the releases provided for in Section 3.03 above) (collectively, the “Loan Party ClaimsReleases”) arising out ). The provisions of these Releases are severable. If any provision hereof is declared invalid or related unenforceable, that will not affect the validity and enforceability of any other provision of these Releases. With full awareness and understanding of this provision, the Selling Stockholder hereby waives all rights that this provision or any comparable provision under any state, federal or non-U.S. law may give to the Credit AgreementSelling Stockholder as well as under any other statute or common law principles of similar effect. The Selling Stockholder intends the Releases to apply fully to claims that the Selling Stockholder does not presently know or suspect to exist at this time. The Selling Stockholder understands that the facts with respect to which the Releases are given may hereafter prove to be different from the facts now known or believed by her, and the other Loan Documents, or Selling Stockholder hereby accepts and assumes the transactions contemplated therein, whether now known, suspected or claimed, whether arising under common lawrisk thereof and agrees that this Agreement shall be and shall remain, in equity all respects, effective and not subject to termination or under statuterescission by reason of any such difference in facts. The Releases herein shall be construed broadly as general releases. The Selling Stockholder shall never, which any Loan Party ever had directly or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) indirectly, commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted any action, suit or other legal proceeding against any of the Released Lender Parties any action arising out of or other proceeding based upon relating, directly or indirectly, to any of the Loan Party Claims which may have arisen at Releases. Notwithstanding the foregoing, the Releases describe in this Section 5.03 shall not apply to any time on action that is the result of fraud or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of willful misconduct by any duty or obligation, express or implied, of the Released Lender Parties to or otherwise limit the Selling Stockholder from complying with any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the ObligationsLaw.
Appears in 1 contract
Sources: Stock Purchase and Exchange Agreement (Feel the World, Inc.)
Release. In consideration (i) The Releasing Party, on the Releasing Party’s own behalf and on behalf of the agreements of the Administrative Agent Releasing Party’s representatives, assigns, estate and the Lenders contained herein and for other good and valuable considerationheirs, the receipt and sufficiency of which is hereby acknowledgedfinally, each Loan Party hereby unconditionally and irrevocably remisesabsolutely releases, acquits, and fully remises and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective officers, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns (collectively, the “Released Lender Parties”) Parties from any and all claimsClaims and Damages, demandsand hereby finally, causes of unconditionally, irrevocably and absolutely waives any and all offsets and defenses, in each case related to any action, obligationsinaction, remediesevent, suits, damages and liabilities (collectively, the “Loan Party Claims”) arising out of circumstance or related occurrence occurring or alleged to the Credit Agreement, the other Loan Documents, or the transactions contemplated therein, whether now known, suspected or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time occurred on or prior to the date of the Releasing Party executed this Agreement. Each Loan Release, whether known or unknown, absolute or contingent, matured or unmatured, presently existing or hereafter discovered, at law, in equity or otherwise, whether arising by statute, common law, in contract, in tort or otherwise, that the Releasing Party covenants and agrees never may now have or that might subsequently accrue to the Releasing Party, directly or derivatively, against any Released Party, including without limitation those related to, arising from or attributed to (1) the Terminated Agreements and never (2) all other acts or omissions related to cause any other Loan matter at any time prior to and including the Effective Time (all such Claims described in this Section 3(a)(i), as supplemented by Section 3(a)(ii), the “Released Claims.”)
(ii) The Releasing Party understands and expressly agrees the release in Section 3(a)(i) extends to all Claims of every nature and kind, known or unknown, suspected or unsuspected, past, present or future, which Claims are arising from, attributable to) commence, voluntarily aid in or related to the Terminated Agreements or any way, prosecute alleged action or cause to be commenced or prosecuted against any inaction of the Released Lender Parties prior to and including the Effective Time, and that all such Claims are hereby expressly settled or waived.
(iii) The Releasing Party hereby irrevocably covenants to refrain from, directly or indirectly, commencing any action or other proceeding based upon any Released Claim.
(iv) Notwithstanding the foregoing to the contrary, the Released Claims shall not include, and nothing contained in this Release is intended to, nor does it, limit, impair or otherwise modify or affect, Claims of the Loan Releasing Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation obligations of any duty Released Party, arising from or obligation, express or implied, pursuant to (i) this Release and (ii) the rights of the Released Lender Parties Releasing Party to enforce any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the Obligationssuch Claim.
Appears in 1 contract
Sources: Release (Bering Exploration, Inc.)
Release. In consideration (a) Effective as of the agreements Closing, Purchaser, on behalf of the Administrative Agent itself and the Lenders contained herein and for other good and valuable considerationeach Purchaser Related Party, the receipt and sufficiency of which is hereby acknowledgedirrevocably, each Loan Party hereby unconditionally and irrevocably remises, acquits, completely waives and fully releases and forever releases discharges, to the fullest extent permitted by applicable Law, Parent and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective officers, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns each Parent Related Party (collectivelysuch released Persons, the “Released Lender PartiesPurchaser Releasees”) ), in each case from any and all claimsdemands, demandsproceedings, causes of action, obligations, remedies, suits, damages accounts, covenants, Contracts, Losses and liabilities (collectivelyLiabilities whatsoever of every name and nature, the “Loan Party Claims”) both in law and in equity, arising out of or related to events, circumstances, actions or omissions taken or not taken by the Credit AgreementPurchaser Releasees, the other Loan DocumentsBusiness, the Retained Business or the Transferred Entities, or the transactions contemplated thereinany of their respective Affiliates, whether now knownofficers, suspected directors, employees, managers, members, partners, stockholders, other equityholders, Representatives or claimed, whether arising under common lawagents, in equity each case, to the extent based upon facts, circumstances, occurrences or under statuteomissions existing, which any Loan Party ever had occurring or now has against the Released Lender Parties which may have arisen arising at any time on or prior to the date of this Agreement. Each Loan Party covenants Closing and agrees never relating to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration arising out of this Agreement and the termination transactions contemplated hereby, the Retained Business, the Transferred Entities or the Business, or any of their respective assets or liabilities; provided, that such release will not cover and therefore will not affect any rights of Purchaser or any Purchaser Related Party under this Agreement or any Ancillary Agreement, or any claims against any Purchaser Releasees for Actual Fraud. Purchaser shall not make, and shall not permit any Purchaser Related Party to make, any claim or demand, or commence any proceeding asserting any claim or demand, including any claim of contribution or any indemnification, against any of the Loan Documents Purchaser Releasees with respect to any Liabilities released pursuant to this Section 11.15(a).
(b) Effective as of the Closing, Parent, on behalf of itself and each Parent Related Party, hereby irrevocably, unconditionally and completely waives and releases and forever discharges, to the fullest extent permitted by applicable Law, Purchaser and each Purchaser Related Party (such released Persons, the “Parent Releasees”), in each case from all demands, proceedings, causes of action, suits, accounts, covenants, Contracts, Losses and Liabilities whatsoever of every name and nature, both in law and in equity, arising out of or related to events, circumstances, actions or omissions taken or not taken by the Parent Releasees, the Business or the Transferred Entities, or any of their respective Affiliates, officers, directors, employees, managers, members, partners, stockholders, other equityholders, Representatives or agents, in each case, to the extent based upon facts, circumstances, occurrences or omissions existing, occurring or arising at or prior to the Closing and relating to or arising out of this Agreement and the repaymenttransactions contemplated hereby, satisfaction the Transferred Entities or discharge the Business, or any of their respective assets or liabilities; provided, that such release will not cover and therefore will not affect (i) any rights of Parent or any Parent Related Party under this Agreement or any Ancillary Agreement, or any claims against any Parent Releasees for Actual Fraud or (ii) any right of any covered person under Section 5.17. Parent shall not make, and shall not permit any Parent Related Party to make, any claim or demand, or commence any proceeding asserting any claim or demand, including any claim of contribution or any indemnification, against any of the ObligationsParent Releasees with respect to any Liabilities released pursuant to this Section 11.15(b).
Appears in 1 contract
Sources: Transaction Agreement (Ebay Inc)
Release. In consideration of the agreements of the this First Amendment, Borrower hereby fully and unconditionally releases and forever discharges Administrative Agent and the Lenders contained herein each Lender and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each Loan Party hereby unconditionally and irrevocably remises, acquits, and fully and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective directors, officers, employees, agentssubsidiaries, branches, affiliates, attorneys, principalsagents, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns and all persons, firms, corporations and organizations acting on their behalf (collectively, the “Released Lender Parties”) ), of and from any and all claims, demandsallegations, causes of action, obligations, remedies, suits, damages costs or demands and liabilities (collectively, the “Loan Party Claims”) pertaining to or arising out of or related to the Credit Agreement, at any time prior to the other Loan Documents, or the transactions contemplated thereinFirst Amendment Effective Date, whether now knownknown or unknown, liquidated or unliquidated, fixed or contingent, asserted or unasserted, foreseen or unforeseen, matured or unmatured, suspected or claimedunsuspected, whether arising under common law, in equity anticipated or under statuteunanticipated, which any Loan Party ever Borrower has, had, claims to have or to have had or now has hereafter claims to have or have had against the Released Lender Parties which may have arisen at by reason of any time act or omission on the part of the Released Parties, or any of them, occurring prior to the date First Amendment Effective Date, including all such loss or damage of this Agreementany kind heretofore sustained or that may arise as a consequence of the dealings among the parties up to and including the First Amendment Effective Date, including the administration or enforcement of the Credit Agreement (collectively, all of the foregoing are the “Claims”), and Borrower hereby represents and warrants that the foregoing constitutes a full and complete release of all such Claims by or on behalf of Borrower. Each Loan Party covenants Borrower further represents and agrees never to (and never to cause warrants that it has no knowledge of any other Loan Party to) commence, voluntarily aid in Claim against the Released Parties or of any way, prosecute facts or cause to be commenced acts or prosecuted against any omissions of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date hereof would be the basis of this Agreement. Each Loan Party acknowledges and agrees that a Claim by it against the Released Lender Parties have acted which is not released hereby. The inclusion of a release provision in good faith in negotiating and entering into this Agreement and that the provisions hereof are First Amendment shall not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties give rise to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repaymentinference that but for such release, satisfaction or discharge of the Obligationsany Claim otherwise would exist.
Appears in 1 contract
Sources: Credit Agreement (NVR Inc)
Release. In consideration Each Signatory Member, on behalf of itself and its Affiliates and their respective successors and assigns, hereby (i) agrees that the payment by the Corporate Taxpayer of the agreements TRA Payments is in full satisfaction of any and all payment obligations of the Administrative Agent Corporate Taxpayer or OpCo under the TRA, and releases the Lenders contained herein Corporate Taxpayer and OpCo from any other obligation to make payments pursuant to the TRA other than to the extent contemplated by Section 5.2 of the TRA solely with respect to the TRA Payments contemplated hereby (for other good and valuable considerationthe avoidance of doubt, the receipt foregoing shall not limit obligations pursuant to Sections 2, 4 and sufficiency 5 of which is hereby acknowledged, each Loan Party hereby unconditionally this Amendment or Section 7.13 of the TRA) and (ii) irrevocably remiseswaives, acquits, and fully remises, discharges and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries each of the Administrative Agent Corporate Taxpayer, OpCo and the Lenders, each of their respective officers, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns Affiliates (collectively, the “Corporation Released Lender Parties”) and each Covered Person from and against any and all claims, demands, causes liabilities and obligations of action, obligations, remedies, suits, damages any kind or nature whatsoever arising with respect to the TRA or this Amendment other than with respect to the TRA Payments and liabilities to the extent contemplated by Section 5.2 of the TRA solely with respect to the TRA Payments contemplated hereby (collectivelyfor the avoidance of doubt, the “Loan Party Claims”) arising out foregoing shall not limit obligations pursuant to Sections 2, 4 and 5 of this Amendment or related to Section 7.13 of the Credit Agreement, the other Loan Documents, or the transactions contemplated thereinTRA), whether now knownabsolute or contingent, suspected liquidated or claimedunliquidated, known or unknown, matured or unmatured or determined or determinable, and whether arising under common any applicable law, contract, agreement, arrangement, commitment, undertaking or understanding, whether written or oral or otherwise at law or in equity equity, and each of the Signatory Members, on behalf of itself and its Affiliates and their respective successors and assigns, further covenants that it shall not institute or participate in any administrative proceeding, suit or action, at law or in equity, against any Corporation Released Party or any Covered Person by reason of any Claim released in this Section 4. It is understood and agreed that the Corporation Released Parties may plead and invoke the releases provided in this Amendment as a defense to any Claims released in this Section 6 brought by the Signatory Members. Each Signatory Member, on behalf of itself and its Affiliates and their respective successors and assigns, expressly waives and releases any and all rights and benefits under statuteSection 1542 of the Civil Code of the State of California (or any similar law), which any Loan Party ever had or now has against the Released Lender Parties which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party covenants and agrees never to (and never to cause any other Loan Party to) commenceprovides as follows: A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND THAT, voluntarily aid in any wayIF KNOWN BY HIM OR HER, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the ObligationsWOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY.
Appears in 1 contract
Sources: Tax Receivable Agreement (E2open Parent Holdings, Inc.)
Release. In consideration of the agreements of the Administrative Agent and the Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each Each Loan Party hereby unconditionally and irrevocably remises, acquits, and fully releases and forever releases and discharges the Administrative Agent and Agents, the Lenders and all respective affiliates each of their parents, subsidiaries and subsidiaries affiliates, past or present, and each of the Administrative Agent them, as well as each of Agents’ and the Lenders’ directors, their respective officers, agents, servants, employees, agentsshareholders, representatives, attorneys, principalsadministrators, advisorsexecutors, directors heirs, assigns, predecessors and shareholderssuccessors in interest, and their respective heirsall other persons, legal representativesfirms or corporations with whom any of the former have been, successors are now, or may hereafter be affiliated, and assigns each of them (collectively, the “Released Lender PartiesReleasees”) ), from and against any and all claims, demands, liens, agreements, contracts, covenants, actions, suits, causes of actionaction in law or equity, obligations, remediescontroversies, suitsdebts, damages costs, expenses, damages, judgments, orders and liabilities of whatever kind or nature in law, equity or otherwise, whether known or unknown, fixed or contingent, suspected or unsuspected by any Loan Party, and whether concealed or hidden (collectively, the “Claims”), which any Loan Party Claims”) arising now owns or holds or has at any time heretofore owned or held, which are based upon or arise out of or related in connection with any matter, cause or thing existing at any time prior to the Credit date hereof or anything done, omitted or suffered to be done or omitted at any time prior to the date hereof in connection with the Financing Agreement, the other Loan Documents, Documents or this Amendment (collectively the transactions contemplated therein, whether now known, suspected or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the “Released Lender Parties which may have arisen at any time on or prior to the date of this AgreementMatters”). Each Loan Party covenants represents, warrants and agrees never to (that in executing and never to cause any other Loan Party to) commenceentering into this release, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based they are not relying and have not relied upon any of representation, promise or statement made by anyone which is not recited, contained or embodied in this Amendment or the Loan Party Claims which may have arisen at any time on or prior to the date of this AgreementDocuments. Each Loan Party has reviewed this release with the Loan Parties’ legal counsel, and understands and acknowledges the significance and consequence of this release and of the specific waiver thereof contained herein. Each Loan Party understands and expressly assumes the risk that any fact not recited, contained or embodied therein may turn out hereafter to be other than, different from, or contrary to the facts now known to any Loan Party or believed by any Loan Party to be true. Nevertheless, each Loan Party intends by this release to release fully, finally and forever all Released Matters and agrees that the Released Lender Parties have acted this release shall be effective in good faith all respects notwithstanding any such difference in negotiating facts, and entering into this Agreement and that the provisions hereof are shall not in breach be subject to termination, modification or violation rescission by reason of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Partysuch difference in facts. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the Obligations.9687378
Appears in 1 contract
Sources: Amendment to Forbearance Period (Apex Global Brands Inc.)
Release. In consideration Subject to Seller's express representations, warranties and indemnities set forth in this Agreement, Buyer (on behalf of the agreements of the Administrative Agent itself and the Lenders contained herein and for other good and valuable considerationits agents, the receipt and sufficiency of which is employees, independent contractors, successors or assigns) hereby acknowledgedwaives, each Loan Party hereby unconditionally and irrevocably remises, acquits, and fully and forever releases and discharges the Administrative Agent Seller and the Lenders Seller Related Parties and all respective affiliates and subsidiaries each of the Administrative Agent and the Lendersthem, their respective officers, employees, agents, attorneys, principals, advisors, directors and shareholders, and their respective heirs, legal representatives, successors and assigns (collectively, the “Released Lender Parties”) from any and all claims, demandssuits, causes of action, obligationslegal or administrative proceedings, remediesliabilities, suitsclaims, damages damages, losses, costs and liabilities expenses of whatever kind, known or unknown, suspected or unsuspected, now or hereafter existing or discovered, in any manner or way connected with the physical condition of the ▇▇▇▇▇ Property and the Leased Property, any latent or patent defects concerning same and any actual or alleged violations of law concerning same, and/or any claim or any action concerning the environmental condition of the ▇▇▇▇▇ Property and the Leased Property, including without limitation under any provision of federal, state or local law, which Buyer had, has or may have, based upon the past, present or future presence, discharge, treatment, recycling, use, migration, storage, generation, or release or transportation to or from the ▇▇▇▇▇ Property and the Leased Property of any contaminants or hazardous or toxic materials or waste on or in the soil or ground water on or under the ▇▇▇▇▇ Property and the Leased Property (collectively, the “Loan Party Claims”"HAZARDOUS MATERIALS") arising out of or related to the Credit Agreement, the other Loan Documents, or the transactions contemplated thereinenvironmental condition of the Property (including without limitation all facilities, whether now knownimprovements, suspected or claimed, whether arising under common law, in equity or under statute, which any Loan Party ever had or now has against the Released Lender Parties which structures and equipment thereon and soil and groundwater thereunder). Buyer acknowledges that unknown and unsuspected Hazardous Materials may have arisen at any time hereafter be discovered on or prior to about the date of this Agreement. Each Loan Party covenants Property, and, except for Seller's express representations, warranties and agrees never to (and never to cause any other Loan Party to) commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any of the Released Lender Parties any action or other proceeding based upon any of the Loan Party Claims which may have arisen at any time on or prior to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements indemnities set forth in this Paragraph 6 shall survive Agreement, Buyer knowingly releases Seller from any and all liability related thereto. Buyer hereby agrees that the termination matters released herein are not limited to matters which are known, disclosed, suspected or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the Obligationsforeseeable.
Appears in 1 contract
Release. In consideration (a) You, on behalf of the agreements of the Administrative Agent yourself, your heirs, executors, administrators and/or assigns, do hereby release and the Lenders contained herein discharge MSG, together with its direct and for other good indirect (i) parent companies (including, without limitation, Sphere), (ii) subsidiaries, (iii) affiliates (including, without limitation, MSGE and valuable considerationits subsidiaries and affiliates as well as Madison Square Garden Sports Corp. and its subsidiaries and affiliates), the receipt and sufficiency of which is hereby acknowledged(iv) joint ventures, each Loan Party hereby unconditionally and irrevocably remises, acquits(v) partners, and fully (vi) related entities, past, present and forever releases and discharges the Administrative Agent and the Lenders and all respective affiliates and subsidiaries of the Administrative Agent and the Lenders, their respective officers, employees, agents, attorneys, principals, advisors, directors and shareholdersfuture, and its or their respective heirs, legal representativespredecessors, successors and assigns (collectively, the “Released Lender PartiesCompany”) ), and its or their officers, directors, employees, licensors, suppliers, consultants, agents, insurers, reinsurers, shareholders, representatives and assigns, past, present and future (collectively with the Company, the “Releasees”), of and from any and all legally waivable suits, debts, complaints, claims, demandsliabilities, demands or causes of action, obligationsor any right to any other monetary recovery or personal relief, remediesknown or unknown, suitsof whatever nature, damages and liabilities (collectively, the “Loan Party Claims”) arising out of or related to the Credit Agreement, the other Loan Documentswhich you, or the transactions contemplated thereinany of your heirs, whether now knownexecutors, suspected or claimedadministrators, whether arising under common law, in equity or under statute, which any Loan Party and assigns ever had or now has have against each or any of the Released Lender Parties which may have arisen at Releasees, based upon or arising from any fact or set of facts, whether known or unknown to you, from the beginning of time on or prior to the date of execution of this Agreement, including, without limitation, any and all claims in connection with, arising out of, or relating in any way to your employment by MSG or the Company, or the termination of your employment. For the avoidance of doubt, you understand and agree that the release described herein includes not only claims presently known to you, but also includes all unknown or unanticipated claims, rights, demands, actions, obligations, liabilities, and causes of action of every kind and character that would otherwise come within the scope of the release. You understand that you may hereafter discover facts different from what you now believe to be true, which if known, could have materially affected this Agreement, but you nevertheless waive any claims or rights based on different or additional facts. Without limiting the generality of the foregoing, this Release includes any claim or right based upon or arising under any federal, state or local fair employment practices or equal opportunity laws, including, but not limited to, any and all claims under the Age Discrimination in Employment Act of 1967 (“ADEA”), the Older Workers Benefit Protection Act (“OWBPA”), Title VII of the Civil Rights Act of 1964, Section 1981 of the Civil Rights Act of 1870, the Americans with Disabilities Act, the Employee Retirement Income Security Act, the Worker Adjustment and Retraining Notification Act, the Family Medical Leave Act, the New York Human Rights Law, the New York Labor Law, the New York Executive Law, the New York Wage and Hour Laws, the New York Civil Rights Law, the New York City Human Rights Law, the ▇▇▇▇▇▇▇▇-▇▇▇▇▇ Act, each as amended, and any and all other federal, state or local statutory or common law claims, now or hereafter recognized, including but not limited to, any claims for economic loss, compensatory damages, punitive damages, liquidated damages, attorneys’ fees, expenses and costs.
(b) Notwithstanding the generality of the foregoing, this Agreement does not prevent or prohibit you from filing a claim with a federal, state or local government agency responsible for enforcing a law on behalf of the government, such as the Equal Employment Opportunity Commission, the Department of Labor, the National Labor Relations Board, the Securities Exchange Commission, or their applicable state and/or local equivalent. This Agreement also does not prevent you from exercising your rights under Section 7 of the National Labor Relations Act to engage in protected, concerted activity with other employees. In addition, nothing in this Agreement limits or affects your right to challenge the validity of this Agreement under the ADEA or the OWBPA. Further, nothing herein constitutes a release or waiver by you of: (i) any claim or right that may arise after the execution of this Agreement; (ii) any claim or right to vested benefits; and/or (iii) any claim or right you may have under this Agreement. Each Loan Party covenants and agrees never to (and never to cause In addition, your rights of indemnification, advancement and/or insurance, including without limitation under Sphere’s Articles of Incorporation, under your indemnification agreement with Sphere, under any insurance policy, and/or under any other Loan Party toresolution of the Board of Directors of Sphere shall not be released, diminished or affected by this Agreement or the termination of your employment.
(c) commenceYou further agree and covenant that should any person, voluntarily aid in any wayorganization, prosecute or other entity file, charge, claim, sue, or cause or permit to be commenced filed any civil action, suit or prosecuted legal proceeding, or if any person, organization, or other entity has filed, charged, claimed, sued, or caused or permitted to be filed any civil action, suit or legal proceeding, against any of the Released Lender Parties Releasees involving any action or other proceeding based upon any of the Loan Party Claims which may have arisen matter occurring at any time on in the past, you are not entitled to and will not seek or prior accept monetary relief in such civil action, suit or legal proceeding.
(d) You affirm that you have reported to the date of this Agreement. Each Loan Party acknowledges and agrees that the Released Lender Parties Company in writing any work-related physical or mental injury, illness or impairment which you may have acted in good faith in negotiating and entering into this Agreement and that the provisions hereof are not in breach or violation of any duty or obligation, express or implied, of the Released Lender Parties to any Loan Party. The agreements set forth in this Paragraph 6 shall survive the termination or expiration of this Agreement and the termination of the Loan Documents and the repayment, satisfaction or discharge of the Obligationsexperienced.
Appears in 1 contract