Common use of No Present Claims; Release Clause in Contracts

No Present Claims; Release. The Swap Parties hereby acknowledge and agree that, as of the date hereof: (a) none of the Swap Parties or any of their Affiliates has any claim or cause of action against Bank of America (or any of its directors, officers, employees, attorneys or agents); (b) none of the Swap Parties or any of their Affiliates, has offset rights (other than those arising under the Master Agreement), counterclaims or defenses of any kind against any of their obligations, indebtedness or liabilities to Bank of America; and (c) Bank of America has heretofore properly performed and satisfied in a timely manner all of its obligations to the Swap Parties and each of their Affiliates. Bank of America wishes (and the Swap Parties agree) to eliminate any possibility that any past conditions, acts, omissions, events, circumstances or matters would impair or otherwise adversely affect any of the rights, interests, contracts, collateral security or remedies of Bank of America. Therefore, the Swap Parties, each on its own behalf and on behalf of each of its respective successors and assigns, hereby waives, releases and discharges Bank of America and all of its directors, officers, employees, attorneys and agents, from any and all claims, demands, actions or causes of action on or before the date hereof and arising out of or in any way relating to the Master Agreement and any other documents, instruments, agreements (including this Forbearance Agreement), dealings or other matters connected with the Master Agreement, including, without limitation, all known and unknown matters, claims, transactions or things occurring on or prior to the date of this Forbearance Agreement related to the Master Agreement. The waivers, releases, and discharges contained in this paragraph shall be effective regardless of any other event that may occur or not occur prior to, or on or after the date hereof.

Appears in 2 contracts

Samples: Forbearance Agreement (TBS International PLC), Forbearance Agreement (TBS International PLC)

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No Present Claims; Release. The Swap Loan Parties hereby acknowledge and agree that, as of the date hereof: (a) none of the Swap Loan Parties or any of their Affiliates has any claim or cause of action against Bank of America the Administrative Agent or any Lender (or any of its their directors, officers, employees, attorneys or agents); (b) none of the Swap Loan Parties or any of their Affiliates, has offset rights (other than those arising under the Master Agreement)rights, counterclaims or defenses of any kind against any of their obligations, indebtedness or liabilities to Bank of Americathe Administrative Agent or any Lender; and (c) Bank of America has the Administrative Agent and the Lenders have heretofore properly performed and satisfied in a timely manner all of its their obligations to the Swap Loan Parties and each of their Affiliates. Bank of America wishes The Administrative Agent and the Lenders wish (and the Swap Loan Parties agree) to eliminate any possibility that any past conditions, acts, omissions, events, circumstances or matters would impair or otherwise adversely affect any of the rights, interests, contracts, collateral security or remedies of Bank of Americathe Administrative Agent or the Lenders. Therefore, the Swap Loan Parties, each on its own behalf and on behalf of each of its respective successors and assigns, hereby waives, releases and discharges Bank of America the Administrative Agent and the Lenders and all of its their directors, officers, employees, attorneys and agents, from any and all claims, demands, actions or causes of action on or before the date hereof and arising out of or in any way relating to the Master Agreement Credit Agreement, the Loan Documents and any other documents, instruments, agreements (including the Forbearance Agreement and this Forbearance AgreementAmendment), dealings or other matters connected with the Master Credit Agreement, including, without limitation, all known and unknown matters, claims, transactions or things occurring on or prior to the date of this Forbearance Agreement Amendment related to the Master Credit Agreement. The waivers, releases, and discharges contained in this paragraph shall be effective regardless of any other event that may occur or not occur prior to, or on or after the date hereof.

Appears in 2 contracts

Samples: Forbearance Agreement (TBS International PLC), Forbearance Agreement (TBS International PLC)

No Present Claims; Release. The Swap Parties hereby acknowledge and agree that, as of the date hereof: (a) none of the Swap Parties or any of their Affiliates has any claim or cause of action against Bank of America (or any of its directors, officers, employees, attorneys or agents); (b) none of the Swap Parties or any of their Affiliates, has offset rights (other than those arising under the Master Agreement), counterclaims or defenses of any kind against any of their obligations, indebtedness or liabilities to Bank of America; and (c) Bank of America has heretofore properly performed and satisfied in a timely manner all of its obligations to the Swap Parties and each of their Affiliates. Bank of America wishes (and the Swap Parties agree) to eliminate any possibility that any past conditions, acts, omissions, events, circumstances or matters would impair or otherwise adversely affect any of the rights, interests, contracts, collateral security or remedies of Bank of America. Therefore, the Swap Parties, each on its own behalf and on behalf of each of its respective successors and assigns, hereby waives, releases and discharges Bank of America and all of its directors, officers, employees, attorneys and agents, from any and all claims, demands, actions or causes of action on or before the date hereof and arising out of or in any way relating to the Master Agreement and any other documents, instruments, agreements (including the Forbearance Agreement and this Forbearance AgreementAmendment), dealings or other matters connected with the Master Agreement, including, without limitation, all known and unknown matters, claims, transactions or things occurring on or prior to the date of this Forbearance Agreement Amendment related to the Master Agreement. The waivers, releases, and discharges contained in this paragraph shall be effective regardless of any other event that may occur or not occur prior to, or on or after the date hereof.

Appears in 2 contracts

Samples: Forbearance Agreement (TBS International PLC), Forbearance Agreement (TBS International PLC)

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No Present Claims; Release. The Swap Loan Parties hereby acknowledge and agree that, as of the date hereof: (a) none of the Swap Loan Parties or any of their Affiliates has any claim or cause of action against Bank of America the Administrative Agent or any Lender (or any of its their directors, officers, employees, attorneys or agents); (b) none of the Swap Loan Parties or any of their Affiliates, has offset rights (other than those arising under the Master Agreement)rights, counterclaims or defenses of any kind against any of their obligations, indebtedness or liabilities to Bank of Americathe Administrative Agent or any Lender; and (c) Bank of America has the Administrative Agent and the Lenders have heretofore properly performed and satisfied in a timely manner all of its their obligations to the Swap Loan Parties and each of their Affiliates. Bank of America wishes The Administrative Agent and the Lenders wish (and the Swap Loan Parties agree) to eliminate any possibility that any past conditions, acts, omissions, events, circumstances or matters would impair or otherwise adversely affect any of the rights, interests, contracts, collateral security or remedies of Bank of Americathe Administrative Agent or the Lenders. Therefore, the Swap Loan Parties, each on its own behalf and on behalf of each of its respective successors and assigns, hereby waives, releases and discharges Bank of America the Administrative Agent and the Lenders and all of its their directors, officers, employees, attorneys and agents, from any and all claims, demands, actions or causes of action on or before the date hereof and arising out of or in any way relating to the Master Agreement Credit Agreement, the Loan Documents and any other documents, instruments, agreements (including this Forbearance Agreement), dealings or other matters connected with the Master Credit Agreement, including, without limitation, all known and unknown matters, claims, transactions or things occurring on or prior to the date of this Forbearance Agreement related to the Master Credit Agreement. The waivers, releases, and discharges contained in this paragraph shall be effective regardless of any other event that may occur or not occur prior to, or on or after the date hereof.

Appears in 1 contract

Samples: Forbearance Agreement (TBS International PLC)

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