Discharge or Release Clause Samples
The Discharge or Release clause defines the conditions under which a party is freed from its obligations or liabilities under an agreement. Typically, this clause specifies the events or actions—such as full performance, settlement, or mutual agreement—that result in the termination of contractual duties. For example, once a party has delivered goods and the other has paid in full, both may be discharged from further obligations. The core function of this clause is to provide clarity on when and how contractual responsibilities end, thereby preventing future disputes over lingering obligations.
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Discharge or Release. The Lender may discharge or release, in whole or in part, any Guarantor or any other Person liable for the payment and performance of all or any part of the Guaranteed Obligations, and may permit or consent to any such action or any result of such action, and shall not be obligated to demand or enforce payment or performance upon any of the Guaranteed Obligations or Collateral securing any Guaranteed Obligations, nor shall the Lender be liable to the Guarantors or any other Person for any failure to collect or enforce payment or performance of any of the Guaranteed Obligations or to realize on any of the Collateral securing any Guaranteed Obligation.
Discharge or Release. Discharge or release means termination from employment. Discharge may occur as the final step in progressive discipline or, where warranted, as an initial disciplinary action as a result of a serious offense.