Common use of Release of Assignor Clause in Contracts

Release of Assignor. Except for liabilities not assumed as provided in Section 3 hereof, upon the execution of this Assignment and Assumption Agreement, Assignor shall have no further duty or obligation under the Operative Documents to which Owner Participant is a party or under any of the other Operative Documents by which Assignor is bound or under any other contract, agreement, document or other instrument relating to the Trust Estate to which Assignor is a party or by which it is bound; provided, however, that Assignor shall in no event be released from any obligation under the Operative Documents with respect to Claims or other claims thereunder by or against Assignor which have accrued or been made prior to the date of transfer.

Release of Assignor. Except for liabilities not assumed as provided in Section 3 hereof, upon the execution of this Assignment and Assumption Agreement, Assignor shall have no further duty or obligation under the Operative Relevant Documents to which Owner Participant is a party or under any of the other Operative Relevant Documents by which Assignor is bound or under any other contract, agreement, document or other instrument relating to the Trust Estate to which Assignor is a party or by which it is bound; provided, however, that Assignor shall in no event be released from any obligation under the Operative Relevant Documents with respect to Claims or other claims thereunder by or against Assignor which have accrued or been made prior to the date of transfer.