Common use of Release by Lender Clause in Contracts

Release by Lender. Lender, individually and on behalf of its directors, officers, subsidiaries, affiliates, divisions, supervisors, agents, successors, partners, employees, shareholders, assigns, attorneys, representatives, insurers, parents, subsidiaries, and related entities, shall, and hereby does, release the Seller and its directors, officers, subsidiaries, affiliates, divisions, supervisors, agents, successors, partners, employees, shareholders, assigns, attorneys, representatives, insurers, parents, subsidiaries, and related entities, both past and present, from any and all claims, demands, alleged sums of money owing, actions, rights, liens, obligations, costs, expenses, compensation of any nature whatever, damages, liabilities, chosen in action, and causes of action of any kind or nature whatsoever, whether known or unknown, suspected or unsuspected, which Lender may now hold or own, or may at any time, past, present or future, hold or own against the Seller, Corporation, and Purchaser arising or resulting from any act or omission by or on the part of the Seller on or before the Closing of the Stock Purchase Agreement ("Lender's Released Claims") specifically including, but not limited to, claims arising out of or relating to the issuance the Notes, as amended, to the Lender by the Seller, any default thereon, and payment of the Existing Debt, whether based in tort, contract (express and implied), or in any other theory of recovery, whether for compensatory or punitive damages, in law or in equity, under any law or legal theory including but not limited to, state or federal, common or statutory, or otherwise. In addition, the Lender hereby agrees to execute as Seller may reasonably require a UCC-3 financing statement, in form and substance satisfactory to Seller, for recordation by the Seller to terminate the Lender’s Security Agreement in the Seller’s collateral.

Release by Lender. Lender, individually and The Lender on behalf of each of its directorspresent and former, direct and indirect, parent, subsidiary and affiliated corporations, companies, partnerships, joint ventures, limited partnerships and limited liability companies, and each of their respective present and former officers, subsidiaries, affiliates, divisions, supervisors, agents, successors, partnersdirectors, employees, shareholders, assignsmembers, attorneys, representatives, insurers, parents, subsidiariesand agents, and related entitiesthe successors and assigns of each of the foregoing (collectively, shallthe “Lender Releasors”), hereby releases and forever discharges, and hereby doescovenants not to ▇▇▇, release the Seller Alderox Parties, and its directors, each of their respective present and former officers, subsidiaries, affiliates, divisions, supervisors, agents, successors, partnersdirectors, employees, shareholders, assignsmembers, attorneys, representatives, insurers, parents, subsidiariesand agents, and related entitiesthe successors and assigns of each of them (collectively, both past and presentthe “Alderox Releasees”), from any and in respect of all claims, demands, alleged sums of money owingliabilities, actions, rightscauses of action, lienssuits, obligationsdebts, costsdues, expensessums of money, compensation of any nature whateveraccounts, reckonings, bonds, bills, specialties, covenants, contracts, controversies, agreements, promises, variances, trespasses, damages, liabilitiesjudgments, chosen extents, executions, claims, counterclaims, cross-claims and demands, in actionlaw, admiralty or equity, against the Alderox Releasees, which the Lender Releasors and causes of action of any kind their successors and assigns ever had, now have or nature whatsoeverhereafter can, shall or may have, whether known or unknown, suspected or unsuspected, and howsoever denominated or described, from the beginning of the world to the date of this Agreement, as against the Alderox Releasees for amounts, sums, damages, or liabilities which Lender may now hold any of the Lenders has incurred or ownpaid, or may at any timeor will, pastincur or pay, present regardless of whether such payment or future, hold incurrence is voluntary or own against the Seller, Corporation, and Purchaser arising or resulting from any act or omission by or on the part of the Seller on or before the Closing of the Stock Purchase Agreement ("Lender's Released Claims") specifically including, but not limited to, claims arising out of or relating to the issuance the Notes, as amended, to the Lender by the Seller, any default thereon, and payment of the Existing Debt, whether based in tort, contract (express and implied)involuntary, or in any other theory of recoverypursuant to a settlement, whether for compensatory or punitive damagesjudgment, in law or in equity, under any law or legal theory including but not limited to, state or federal, common or statutory, award or otherwise. In addition; provided, however, the Lender hereby agrees to execute as Seller may reasonably require a UCC-3 financing statement, in form and substance satisfactory to Seller, for recordation by the Seller to terminate the Lender’s Security Agreement in the Seller’s collateraldoes not waive or release any claims arising under this Agreement.

Release by Lender. Contingent upon the full execution of this Agreement, and the receipt by Lender of the Payoff Amount, Lender, individually for itself and on behalf of its successors and assigns hereby RELEASES and FOREVER WAIVES and DISCHARGES Borrower, and, as applicable, Borrower’s past, present and future officers, directors, officersshareholders, members, partners, principals, managers, employees, agents, accountants, attorneys, insurers, representatives, trustees, administrators, beneficiaries, affiliates, subsidiaries, affiliatesheirs, divisions, supervisors, agents, successors, partners, employees, shareholders, assigns, attorneys, personal representatives, insurerssuccessors and assigns (individually and collectively, parents, subsidiaries, and related entities, shall, and hereby does, release the Seller and its directors, officers, subsidiaries, affiliates, divisions, supervisors, agents, successors, partners, employees, shareholders, assigns, attorneys, representatives, insurers, parents, subsidiaries, and related entities, both past and present, “Borrower Released Parties”) from any and all claims, liabilities, demands, alleged sums of money owingdamages, losses, debts, obligations, accounts, offsets, actions, rightscauses of action, liens, obligationsdefenses, costs, expenses, compensation fees and expenses of any nature whatever, damages, liabilities, chosen in action, and causes of action of any whatsoever kind or nature whatsoevernature, whether in law or equity, whether known or unknown, suspected whether disclosed or unsuspectedundisclosed, whether anticipated or unanticipated, whether asserted or unasserted, whether direct or indirect, whether contingent or liquidated, which Lender may ever had, now hold or own, has or may at have in the future (collectively, the “Lender Claims”) against all or any time, past, present or future, hold or own against the Seller, Corporation, and Purchaser arising or resulting from any act or omission by or on the part of the Seller on or before the Closing of the Stock Purchase Agreement ("Lender's Borrower Released Claims") specifically including, but not limited to, claims Parties arising out of of, or relating to the issuance Loan, the Notes, Loan Documents and/or this Agreement other than (i) the Contingent Liabilities (as amended, defined in Section 3 above) and (ii) claims or indebtedness related to a reinstatement of the Loan or any portion thereof as further described in Section 6 below). Lender hereby represents and warrants that it has not assigned or otherwise divested itself of all or any part of the Lender by the Seller, any default thereon, Claims being released hereby and payment of the Existing Debt, whether based in tort, contract (express and implied), or in any other theory of recovery, whether for compensatory or punitive damages, in law or in equity, under any law or legal theory including but not limited to, state or federal, common or statutory, or otherwise. In addition, the Lender that it hereby agrees to execute as Seller may reasonably require a UCC-3 financing statementdefend, in form indemnify and substance satisfactory to Seller, for recordation by hold harmless any and all of the Seller to terminate the Lender’s Security Agreement in the Seller’s collateralBorrower Released Parties against whom any Lender Claim so assigned or divested is asserted.