Common use of Grace Release of GCP Clause in Contracts

Grace Release of GCP. Except as provided in Sections 4.1(c) and 4.1(d), effective as of the Effective Time, Grace does hereby, for itself and each other member of the Grace Group and their respective successors and assigns, and, to the extent permitted by Law, all Persons who at any time prior to the Effective Time have been stockholders, directors, officers, agents or employees of any member of the Grace Group (in each case, in their respective capacities as such), remise, release and forever discharge GCP and the members of the GCP Group and their respective successors and assigns, from (i) all Grace Liabilities, (ii) all Liabilities arising from or in connection with the transactions and all other activities to implement the Separation and the Distribution and (iii) all Liabilities arising from or in connection with actions, inactions, events, omissions, conditions, facts or circumstances occurring or existing prior to the Effective Time (whether or not such Liabilities cease being contingent, mature, become known, are asserted or foreseen, or accrue, in each case before, at or after the Effective Time), in each case to the extent relating to, arising out of or resulting from the Grace Business, the Grace Assets or the Grace Liabilities.