Releases by the Parties Clause Samples
The "Releases by the Parties" clause serves to formally discharge each party from certain claims, liabilities, or obligations that may have arisen prior to or as a result of the agreement. In practice, this clause typically specifies the scope of the release, detailing which types of claims are covered and whether the release is mutual or one-sided. For example, it may state that both parties agree not to pursue legal action for any disputes related to past conduct or prior agreements. The core function of this clause is to provide finality and prevent future disputes over matters that have already been settled, thereby reducing the risk of ongoing or unexpected legal claims between the parties.
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Releases by the Parties. Upon the Execution Date, the Parties hereby, on behalf of itself and all of their Affiliates, completely release, acquit, and forever discharge each other from any and all Released Claims. The Parties expressly agree and acknowledge that this release constitutes a full and final release in relation to the Released Claims.
Releases by the Parties. As additional consideration for each party entering into this Agreement and subject to the Closing of this Agreement, each such party hereby provides the following release and discharge;
Releases by the Parties. A. The Release provided bv GMA
Releases by the Parties. Upon the receipt of that portion of the Merger Consideration payable to such MOAC Party on the Effective Date pursuant to the Merger Agreement and the execution and delivery of this Release by such MOAC Party, the releases of such MOAC Party set forth herein shall become effective.
Releases by the Parties. Except for the rights and obligations created by and set forth in this Agreement, none of which rights and obligations are impaired or abrogated by the releases set forth herein, each of the Parties, and those claiming under them, do hereby, as of and upon the Effective Date, release and forever discharge the other Parties as follows:
Releases by the Parties. Effective as of the first date on which the Settlement Order is not stayed and becomes nonappealable, (a) each of the Standard General Parties, on behalf of itself and its successors and assigns, releases, waives, and forever discharges each of the LCP Released Parties and Prepetition Agent Released Parties from any and all Causes of Action arising out of, under, in connection with, or otherwise related to the Prepetition Loan Documents, the Debtors, and the Chapter 11 Cases, including the SGP Causes of Action and the Adversary Proceeding, (b) the Prepetition Agent and each of the Lender Committee Parties, on behalf of itself and its successors and assigns, release, waive, and forever discharge each of the SGP Released Parties from any and all Causes of Action arising out of, under, in connection with, or otherwise related to the Prepetition Loan Documents, the Debtors, and the Chapter 11 Cases, and (c) the Debtors and their estates, on behalf of themselves and their respective successors and assigns, release, waive, and forever discharge each of the SGP Released Parties, Prepetition Agent Released Parties and LCP Released Parties from any and all Causes of Action relating to the Debtors, the Prepetition Loan Documents and the Chapter 11 Cases; provided, however, that each of the Parties shall retain its rights to enforce this Agreement. Notwithstanding anything herein to the contrary, nothing herein shall release, either directly or indirectly, or require Standard General to support a plan that releases, either directly or indirectly, any claim, counterclaim or defense against any Pending Litigation Participant that Standard General has asserted or may assert in the Pending Litigation.
Releases by the Parties. Effective upon the mutual execution hereof, each party hereto, for itself and on behalf of its officers, directors, employees, affiliates, representatives, agents, trustees, beneficiaries, predecessors in interest, successors in interest and assigns (collectively, the "Releasing Parties"), hereby releases and forever discharges the other party, and such party's officers, directors, employees, affiliates, representatives, agents, trustees, beneficiaries, predecessors in interest, successors in interest and assigns (collectively, the "Released Parties"), of and from any and all claims, demands, actions and causes of action, whether known or unknown, fixed or contingent, arising prior to the date hereof, that the Releasing Parties may have had, may now have or may hereafter acquire with respect to any matters whatsoever under, relating to or arising from any prior Purchase Agreement, Registration Agreement, and the agreements entered into in connection therewith (sometimes collectively referred to as the "Prior Agreements").
Releases by the Parties