Release by Releasees Sample Clauses
The 'Release by Releasees' clause serves to formally discharge certain parties (the 'Releasees') from any claims, liabilities, or obligations that the releasing party may have against them. In practice, this clause typically applies when one party agrees not to pursue legal action or make further demands related to a specific matter, such as the settlement of a dispute or the conclusion of a contract. By including this clause, the agreement ensures that the Releasees are protected from future claims arising from the specified circumstances, thereby providing finality and reducing the risk of ongoing or renewed litigation.
Release by Releasees. (1) Upon the Effective Date, each Releasee forever and absolutely releases each of the other Releasees from any and all claims for contribution or indemnity with respect to the Released Claims.
Release by Releasees. Upon receipt by the Administrator of the monies in the Account, each Releasee forever and absolutely releases each of the other Releasees from any and all claims for contribution or indemnity with respect to the Released Claims.
Release by Releasees. In consideration of: (i) the mutual releases herein; (ii) the indemnification set forth herein; (iii) the delivery of the Kaiden Common Shares, the Packer Common Shares, the Kaiden Preferred Shares, and the Packer Preferred Shares by the Releasors to the Corporate Releasee as set forth in Section 2.00 of this Agreement whereby all said shares shall be cancelled; and (iv) the First Releasors assurance that he will, on behalf of himself and on behalf of all other members of the Releasor Group, promptly and before May 9, 2000 file a Stipulation for Entry of Judgment and Dismissal With Prejudice and Order Thereon, to fully and irrevocably dismiss the Civil Action; (v) together with other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged and upon execution of this Agreement by all Releasors and all Releasees, then the Releasees, individually and collectively and on their own behalf and on behalf of each of all their current and former officers, directors, agents, parent corporations, sister corporations, affiliates, attorneys, heirs, successors in interest, and assigns, hereby fully and forever releases, acquits and discharges each and every one of the Releasors and each of their current and former officers, directors, agents, parent corporations, sister corporations, affiliates, heirs, assigns, trustees, trustors, beneficiaries, attorneys, together with all affiliates, business associates, all entities currently or previously associated or affiliated with any one or more of the Releasors and each of them, of and from any and all liabilities, claims, demands, actions, causes of action and rights (contingent accrued, or otherwise) which the Releasees (including any one or more of them) may now have against any or all parties released.