Binding Effect of Release Sample Clauses
The "Binding Effect of Release" clause establishes that any release of claims or liabilities agreed upon in a contract is legally binding on the parties involved. In practice, this means that once a party signs a release, they are prevented from pursuing further legal action related to the matters covered by the release, and this effect may also extend to successors, assigns, or related entities. The core function of this clause is to ensure finality and certainty by preventing future disputes over the released issues, thereby providing closure and risk allocation for all parties.
Binding Effect of Release. This Release shall be binding upon ▇▇▇▇▇▇▇▇, Mosaic and their heirs, administrators, representatives, executors, successors and permitted assigns.
Binding Effect of Release. This Release shall be binding upon Executive and his heirs, administrators, representatives, executors, successors and permitted assigns.
Binding Effect of Release. This Release shall be binding upon ▇▇▇▇▇▇, Deluxe and their heirs, administrators, representatives, executors, successors and permitted assigns.
Binding Effect of Release. This Release shall be binding upon the Company and upon Consultant and Consultant’s heirs, spouse, representatives, successors and assigns.
Binding Effect of Release. Final approval of this Agreement will settle and resolve with finality on behalf of the Class Representatives and the Settlement Class, the Litigations and the Released Claims against the Released Parties in the Litigations. The Agreement and the above-described release of the Released Claims will be binding on, and have res judicata preclusive effect in, all pending and future lawsuits or other proceedings maintained by or on behalf of Class Representatives and all other Class Members who do not validly and timely exclude themselves from the settlement, and their respective predecessors, successors, spouses, heirs, executors, administrators, agents and assigns of each of the foregoing, as set forth in the Agreement, and the Released Parties may file the Agreement and/or the Final Approval Order in any action or proceeding that may be brought against them in order to support a defense or counterclaim based on principles of res judicata, collateral estoppel, release, good faith settlement, judgment bar or reduction, or any other theory of claim preclusion or issue preclusion or similar defense or counterclaim. The parties will request that this res judicata language be included in the Final Approval Order.
Binding Effect of Release. This Release shall bind the Receiver (on behalf of the Receivership Entity generally and ACF specifically) and DFS as well as their respective officers, directors, receivers, trustees, insurers, marital communities, successors, subrogees, transferees, and assigns to the maximum extent allowable by law.