Common use of Release and Discharge of Susanville Clause in Contracts

Release and Discharge of Susanville. Each of Seller and the Ultimate Parent Entity hereby, for itself and its successors and assigns (collectively, the “Releasors”), effective on the Closing Date and conditioned upon the closing and receipt of the Closing Date Payment payable to Seller, and without any further action by any Person hereby releases and forever discharges Susanville and its current and former members, managers, officers, and employees and their respective heirs, executors, administrators and personal representatives (collectively, the “Releasees”), of and from any and all manner of actions, causes of action, suits, debts, dues, sums of money, accounts, reckonings, covenants, contracts, controversies, agreements, promises, variances, damages, judgments, extents, executions, claims, and demands whatsoever, in law, admiralty or equity (“Released Amounts”), whether asserted directly or by way of setoff or recoupment or based on any theory of indemnification, contribution, equitable apportionment or reimbursement of any kind, whether known or unknown, which any of the Releasors ever had, now have or hereafter can, shall or may have, against any of the Releasees for, upon, or by reason of any matter, facts or conduct whatsoever from the beginning of the world to the Closing Date; and hereby agrees to promptly provide to any Releasee with such documentation as it may require to effectuate the provisions of the aforesaid release and/or to evidence the release by Seller and Ultimate Parent Entity of any interest of any kind in or claim to any of the assets of Susanville, and that Seller and Ultimate Parent Entity will furnish any Releasee with such documents or instruments as may be required to accomplish the foregoing. All such Released Amounts shall be treated for income tax purposes as an additional capital contribution of Seller to Susanville immediately prior to the Closing.

Release and Discharge of Susanville. Each of Seller and the Ultimate Parent Entity hereby, for itself and its successors and assigns (collectively, the “"Releasors”"), effective on the Closing Date and conditioned upon the closing and receipt of the Closing Date Payment payable to Seller, and without any further action by any Person hereby releases and forever discharges Susanville and its current and former members, managers, officers, and employees and their respective heirs, executors, administrators and personal representatives (collectively, the “"Releasees”"), of and from any and all manner of actions, causes of action, suits, debts, dues, sums of money, accounts, reckonings, covenants, contracts, controversies, agreements, promises, variances, damages, judgments, extents, executions, claims, and demands whatsoever, in law, admiralty or equity (“"Released Amounts”"), whether asserted directly or by way of setoff or recoupment or based on any theory of indemnification, contribution, equitable apportionment or reimbursement of any kind, whether known or unknown, which any of the Releasors ever had, now have or hereafter can, shall or may have, against any of the Releasees for, upon, or by reason of any matter, facts or conduct whatsoever from the beginning of the world to the Closing Date; and hereby agrees to promptly provide to any Releasee with such documentation as it may require to effectuate the provisions of the aforesaid release and/or to evidence the release by Seller and Ultimate Parent Entity of any interest of any kind in or claim to any of the assets of Susanville, and that Seller and Ultimate Parent Entity will furnish any Releasee with such documents or instruments as may be required to accomplish the foregoing. All such Released Amounts shall be treated for income tax purposes as an additional capital contribution of Seller to Susanville immediately prior to the Closing.