RELEASE BY THE MEXICAN CORPORATIONS. (a) Effective as of the Effective Date, each Mexican Corporation, on behalf of such Mexican Corporation and each of such Mexican Corporation's affiliates, subsidiaries, representatives, agents, successors-in-interest and assigns, hereby releases and forever discharges Tag-It and each of Tag-It's officers, directors, employees, agents, stockholders, controlling persons, representatives, affiliates, subsidiaries, successors-in-interest and assigns (individually, a "TAG-IT RELEASEE" and collectively, "TAG-IT RELEASEES") from any and all causes of action, claims, actions, rights, judgments, attorneys' fees, obligations, contracts, damages, promissory notes, demands, accountings or liabilities of whatever kind and character, whether now known or unknown, suspected or unsuspected, both at law and in equity, which such Mexican Corporation or any of such Mexican Corporation's affiliates, subsidiaries, representatives, agents, successors-in-interest and assigns now has, have ever had or may hereafter have against the respective Tag-It Releasees arising contemporaneously with or prior to the Effective Date or on account of or arising out of any matter, cause or event occurring contemporaneously with or prior to the Effective Date; PROVIDED, HOWEVER, that nothing contained herein will operate to release any obligations of Tag-It arising under the Purchase Agreement or any other agreement or instrument entered into in connection with the Purchase Agreement.
