Common use of Release by Shareholders Clause in Contracts

Release by Shareholders. Shareholders, as of the Closing Date, hereby ----------------------- release and discharge Acorn and its officers and directors from, and agree and covenant that in no event will Shareholders commence any litigation or other legal or administrative proceeding against, Acorn or any of its officers or directors, either in law or equity, relating to any and all claims and demands, known and unknown, suspected and unsuspected, disclosed and undisclosed, for damages, actual, consequential, or otherwise, past, present and future, arising out of or in any way connected with their ownership of the equity securities of Acorn or any employment or consulting relationship (other than for wages or employee benefits accrued but not yet paid, or under debts for borrowed money as listed on a Schedule hereto) prior to or at the Closing Date. Except for this Agreement and the agreements entered into hereunder, as of the Closing without further action, all shareholders, voting, preemptive, buy-sell, first refusal or similar rights, employment or consulting rights, by agreement or statute, of a Shareholder of Acorn, shall terminate as to securities of Acorn and as to Acorn. This Section shall in no way release, waive or extinguish claims that any Shareholder or Acorn has or will have against Intek arising in the past, present or future, including under this Agreement and the agreements entered into hereunder.

Release by Shareholders. Shareholders, as of the Closing DateEffective ----------------------- Time of the Merger, hereby ----------------------- release and discharge Acorn Protocall and its officers and directors from, and agree and covenant that in no event will Shareholders commence any litigation or other legal or administrative proceeding against, Acorn Protocall or any of its officers or directors, either in law or equity, relating to any and all claims and demands, known and unknown, suspected and unsuspected, disclosed and undisclosed, for damages, actual, consequential, or otherwise, past, present and future, arising out of or in any way connected with their ownership of the equity securities of Acorn Protocall or any employment or consulting relationship (other than for wages or employee benefits accrued but not yet paid, or under debts for borrowed money as listed on a Schedule hereto) prior to or at the Closing DateEffective Time of the Merger. Except for this Agreement and the agreements entered into hereunder, as of the Closing without further action, all shareholders, voting, preemptive, buy-sell, first refusal or similar rights, employment or consulting rights, by agreement or statute, of a Shareholder of AcornProtocall, shall terminate as to securities of Acorn Protocall and as to AcornProtocall. This Section shall in no way release, waive or extinguish claims that any Shareholder or Acorn Protocall has or will have against Intek arising in the past, present or future, including under this Agreement and the agreements entered into hereunder.

Release by Shareholders. Shareholders, as of the Closing Date, ----------------------- hereby ----------------------- release and discharge Acorn and its officers and directors from, and agree and covenant that in no event will Shareholders commence any litigation or other legal or administrative proceeding against, Acorn or any of its officers or directors, either in law or equity, relating to any and all claims and demands, known and unknown, suspected and unsuspected, disclosed and undisclosed, for damages, actual, consequential, or otherwise, past, present and future, arising out of or in any way connected with their ownership of the equity securities of Acorn or any employment or consulting relationship (other than for wages or employee benefits accrued but not yet paid, or under debts for borrowed money as listed on a Schedule hereto) prior to or at the Closing Date. Except for this Amended and Restated Agreement and the agreements entered into hereunder, as of the Closing without further action, all shareholders, voting, preemptive, buy-sell, first refusal or similar rights, employment or consulting rights, by agreement or statute, of a Shareholder of Acorn, shall terminate as to securities of Acorn and as to Acorn. This Section shall in no way release, waive or extinguish claims that any Shareholder or Acorn has or will have against Intek Etinuum arising in the past, present or future, including under this Amended and Restated Agreement and the agreements entered into hereunder.