Common use of Release by Obligor Clause in Contracts

Release by Obligor. The Obligor hereby releases and discharges the Credit Union and any receiver from all claims of any kind, whether in damages or not, that may arise or be caused to the Obligor or any person claiming through or under the Obligor as a result of any act or omission of the Credit Union or any receiver except that the Credit Union or receiver may be responsible or liable for loss or damage arising from its wilful misconduct or gross negligence.

Appears in 5 contracts

Samples: Security Agreement, Security Agreement, Security Agreement

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Release by Obligor. The Obligor hereby releases and discharges the Credit Union and any receiver from all claims of any kind, whether sounding in damages or not, that may arise or be caused to the Obligor or any person claiming through or under the Obligor as a result of any act or omission of the Credit Union or any receiver except that the Credit Union or receiver may be responsible or liable for loss or damage arising from its wilful misconduct or gross negligence.

Appears in 1 contract

Samples: Security Agreement

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