Restriction Release Clause Samples
A Restriction Release clause serves to remove or lift previously imposed limitations or restrictions on a party’s rights or actions under an agreement. In practice, this clause may specify the conditions or events—such as the fulfillment of certain obligations, passage of time, or receipt of consent—that trigger the release of these restrictions. Its core function is to provide flexibility by allowing parties to regain certain rights or freedoms once specific criteria are met, thereby ensuring that restrictions do not remain in place longer than necessary and reducing the risk of undue burden.
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Restriction Release. With respect to each Restriction, Parent shall have delivered to Buyer (i) a fully executed copy of the associated Restriction Release and (ii) an officer’s certificate executed by an executive officer of Parent stating that each Restriction is no longer in effect and that each Restriction Release has been duly authorized, executed and delivered by Parent and is a binding and enforceable Contract.