Joint Release Clause Samples
The Joint Release clause serves to confirm that all parties involved mutually agree to release each other from specific claims, obligations, or liabilities related to the agreement. In practice, this clause typically applies when both parties have fulfilled their respective duties or have reached a settlement, and they wish to formally acknowledge that no further claims will be pursued. Its core function is to provide legal certainty and finality, ensuring that neither party can later bring up disputes or demands covered by the release, thereby preventing future litigation or misunderstandings.
Joint Release. Licensee and Licensor may, by joint written instruction to Holder, authorize the release of the Deposit or a copy of it to the party named in the instruction.
Joint Release. HP and Licensor may, by joint written instruction to Holder, authorize the release of the Deposit or a copy of it to the party named in the instruction.
Joint Release. If the Bankruptcy Court determines, or if CellNet and Schlumberger agree, that CellNet and Schlumberger each have an interest in the BCN Royalties, then escrow holder shall release all funds in the Escrow to Purchaser unless Schlumberger and CellNet shall each have delivered to the escrow holder within 15 days of the entry of an order of the Bankruptcy Court making such determination or, if by agreement, within 5 days of the execution thereof, a Release that acknowledges and agrees that funds each has received from the Escrow fully satisfies all obligations of BCN to pay the BCN Royalties and that CellNet and Schlumberger each elects to accept their allocable share of the Royalty Advance as full satisfaction of the BCN Royalties, which Release the escrow holder shall deliver to Bechtel at the same time as the release of funds.
Joint Release. Philips and Supplier may, by joint written instruction to [****], authorize the release of the Deposit or a copy of it to the party named in the instruction.
Joint Release. Agilent and Supplier may, by joint written instruction to Holder, authorize the release of the Deposit or a copy of it to the party named in the instruction.
Joint Release. Within two (2) Business Days following the receipt of a joint written instruction signed by a Representative of both GP Seller and Buyer, and delivered to the Escrow Agent (a “Joint Escrow Release Certificate”), the Escrow Agent shall disburse the Escrow Amount as stated in such written direction in the amounts and to the persons specified in such Joint Escrow Release Certificate.
Joint Release. Notwithstanding the foregoing, Escrow Agent shall promptly release and disburse the Holdback Escrow Shares pursuant to a mutual written express agreement to release such shares as directed in any certificate jointly executed by the Shareholder and the Chairman or chief financial officer of UBICS.