Common use of Release by Sellers Clause in Contracts

Release by Sellers. Effective as of the Closing, in consideration of the mutual covenants and agreements contained herein, including the consideration to be received by the Sellers, each Seller hereby irrevocably releases and forever discharges the Company and Buyer, and their respective Affiliates, officers, managers, directors, members, partners (general or limited), agents, and employees, and the successors, heirs, assigns, executors and administrators to the foregoing (collectively, the “Released Parties”), of and from any and all manner or causes of action and actions, claims, suits, rights, debts, sums of money, covenants, contracts, damages and judgments whatsoever, in law or in equity, which the Sellers ever had, now has or which the Sellers can, shall or may have, against the Released Parties, whether known or unknown, suspected or unsuspected, matured or unmatured, fixed or contingent, for, upon or by reason of any matter relating to the Company or its Affiliates, and arising at any time on or prior to the Closing Date, whether in the Seller’s capacity as an equity holder, director, manager, officer, employee, holder of Indebtedness or otherwise, and the Released Parties shall not have liability with respect thereto, provided, however, that such release shall not will not apply to obligations owing to the Sellers arising pursuant to the Transaction Documents.

Release by Sellers. Effective as of the Closing, in consideration of the mutual covenants and agreements contained herein, including the consideration to be received by the Sellers, each Seller hereby irrevocably releases and forever discharges the Company and Buyereach Company, and their respective Affiliates, officers, managers, directors, members, partners (general or limited), agents, and employees, and the successors, heirs, assigns, executors and administrators to the foregoing (collectively, the “Released Parties”), of and from any and all manner or causes of action and actions, claims, suits, rights, debts, sums of money, covenants, contracts, damages and judgments whatsoever, in law or in equity, which the Sellers ever had, now has or which the Sellers can, shall or may have, against the Released Parties, whether known or unknown, suspected or unsuspected, matured or unmatured, fixed or contingent, for, upon or by reason of any matter relating to the Company Companies or its their Affiliates, and arising at any time on or prior to the Closing Date, whether in the Seller’s capacity as an equity holderequityholder, director, manager, officer, employee, holder of Indebtedness or otherwise, and the Released Parties shall not have liability with respect thereto, provided, however, that such release shall not will not apply to obligations owing to the Sellers arising pursuant to the Transaction Documents.

Release by Sellers. Effective as Each Seller, on behalf of the Closing, in consideration of the mutual covenants himself and agreements contained herein, including the consideration to be received by the Sellers, each Seller hereby irrevocably releases and forever discharges the Company and Buyer, and their respective Affiliates, officers, managers, directors, members, partners (general or limited), his agents, and employeesattorneys, and the successorsinsurers, heirs, assigns, executors beneficiaries, executors, trustees, conservators, representatives, predecessors-in-interest, successors-in-interest, and administrators to whomsoever may claim by, under or through them, and all persons acting by, through, under or in concert with any of them (the foregoing (collectively"Releasing Parties") hereby irrevocably and unconditionally forever release, remise, acquit and discharge the “Released Parties”), of Company and each Purchaser from and against any and all manner or debts, obligations, losses, costs, promises, covenants, agreements, contracts, endorsements, bonds, controversies, suits, actions, causes of action and actionsaction, misrepresentations, defamatory statements, tortious conduct, acts or omissions, rights, obligations, liabilities, judgments, damages, expenses, claims, suitscounterclaims, rightscross-claims, debts, sums of money, covenants, contracts, damages and judgments whatsoeveror demands, in law or in equity, which the Sellers ever hadasserted or unasserted, now has express or which the Sellers canimplied, shall foreseen or may haveunforeseen, against the Released Partiesreal or imaginary, whether known alleged or unknownactual, suspected or unsuspected, matured known or unmaturedunknown, fixed liquidated or contingentnon-liquidated, for, upon or by reason of any matter relating kind or nature or description whatsoever, arising from the beginning of the world through the date of this Agreement which each of the Releasing Parties ever had, presently have, may have, or claim or assert to have, or hereafter have, may have, or claim or assert to have, against the Company or its Affiliates, and arising at any time on or prior to and/or the Closing Date, whether in Purchaser (the Seller’s capacity as an equity holder, director, manager, officer, employee, holder of Indebtedness or otherwise, and the "Released Parties shall not have liability with respect thereto, provided, however, that such release shall not will not apply to obligations owing to the Sellers arising pursuant to the Transaction DocumentsClaims").

Release by Sellers. Effective as of Each Seller, effective upon the Closing, in consideration of the mutual covenants and agreements contained hereinhereby fully, including the consideration to be received by the Sellers, each Seller hereby irrevocably releases finally and forever releases, discharges and covenants not to xxx and otherwise agrees not to enforce any claim, cause of action, right, title or interest against, the Company and Buyereach director, officer and employee of the Company, and each Affiliate of each of the foregoing Persons, and their respective Affiliates, officers, managers, directors, members, partners (general or limited), agents, successors and employees, and the successors, heirs, assigns, executors and administrators to the foregoing permitted assigns (collectively, the “"Released Parties”Persons"), of of, from and from with respect to any and all manner or causes of action and actions, claims, suits, rightscounterclaims, debts, sums of money, covenants, contractsagreements, damages and judgments whatsoeverobligations, in law liabilities, actions or in equitydemands of any kind or character, which the Sellers ever had, now has based upon any fact or which the Sellers can, shall or may have, against the Released Partiescircumstance, whether known or unknown, suspected or unsuspected, matured which presently exists or unmatured, fixed or contingent, for, upon or by reason of any matter relating to the Company or its Affiliates, and arising at any time on or prior to the Closing Date, whether has ever existed in the Seller’s capacity as an equity holderpast, directorthat each Seller has or may have in any manner whatsoever, managereither singly or jointly with others, officer, employee, holder against any of Indebtedness or otherwise, and the Released Parties shall not have liability with respect thereto, Persons; provided, however, that nothing in this Section 6.1(h) will be deemed to be a release by such release shall not will not apply to obligations owing to Seller of (i) any right of Seller under this Agreement, the Sellers arising pursuant to Escrow Agreement and the Transaction Documents, (ii) any rights to salary, benefits of any kind or reimbursement of business expenses accrued by such Seller prior to the Closing in the ordinary course of business consistent with past practice or (iii) any rights to indemnification as directors and officers of the Company, including under any director's and officer's insurance.

Release by Sellers. Effective as of the Closing, in consideration of the mutual covenants and agreements contained herein, including the consideration to be received by the Sellers, each Seller hereby irrevocably releases and forever discharges the Company and Buyer, and their respective Affiliates, officers, managers, directors, members, partners (general or limited), agents, and employees, and the successors, heirs, assigns, executors and administrators to the foregoing (collectively, the “Released Parties”), of and from any and all manner or causes of action and actions, claims, suits, rights, debts, sums of money, covenants, contracts, damages and judgments whatsoever, in law or in equity, which the Sellers ever had, now has or which the Sellers can, shall or may have, against the Released Parties, whether known or unknown, suspected or unsuspected, matured or unmatured, fixed or contingent, for, upon or by reason of any matter relating to the Company or its Affiliates, and arising at any time on or prior to the Closing Date, whether in the Seller’s capacity as an equity holderequityholder, director, manager, officer, employee, holder of Indebtedness or otherwise, and the Released Parties shall not have liability with respect thereto, provided, however, that such release shall not will not apply to obligations owing to the Sellers arising pursuant to the Transaction Documents.