Common use of Release of Centerline Clause in Contracts

Release of Centerline. Citizens, for itself and on behalf of its current and former parent companies, subsidiaries, affiliates, predecessors, successors, and assigns, its and their current and former officers, directors, trustees, members, owners, shareholders, employees, agents, attorneys, and representatives, and their heirs, executors, and administrators, hereby forever releases and discharges Centerline, its current and former parent companies, subsidiaries, affiliates, predecessors, successors, and assigns, its and their current and former officers, directors, trustees, members, owners, shareholders, employees, agents, attorneys, and representatives, and their heirs, executors, and administrators, from any and all claims, causes of action, suits, proceedings, agreements, contracts, obligations, costs, debts, demands, and liabilities, of whatever kind, nature, or description, contingent or noncontingent, accrued or unaccrued, known or unknown, suspected or unsuspected, arising out of or relating to the Option Agreement, the CRA Shares, or the Arbitration (including, without limitation, the claims asserted in Citizens’ Statement of Claim in the Arbitration). In the event that Centerline files for bankruptcy or is involuntarily placed into bankruptcy and all or part of the payment referred to in Paragraph 1 above is required to be returned or is clawed back, the foregoing release shall be void with respect to any claim for the amount that is required to be returned or is clawed back. For the avoidance of doubt, the forgoing release shall not apply to Centerline’s obligations under this Settlement Agreement.