Common use of Release of Claims Against Bank Clause in Contracts

Release of Claims Against Bank. In consideration of the Bank making the Loans and issuing the Letters of Credit, each Borrower and all other Obligors do each hereby release and discharge the Bank of and from any and all claims, harm, injury, and damage of any and every kind, known or unknown, legal or equitable, which any Obligor may have against the Bank from the date of their respective first contact with the Bank until the date of this Loan Agreement, including any claim arising from any reports (environmental reports, surveys, appraisals, etc.) prepared by any parties hired or recommended by the Bank. Each Borrower and all other Obligors confirm to Bank that they have reviewed the effect of this release with competent legal counsel of their choice, or have been afforded the opportunity to do so, prior to execution of this Agreement and the Loan Documents and do each acknowledge and agree that the Bank is relying upon this release in extending the Loans and issuing the Letters of Credit to the Borrowers.

Appears in 2 contracts

Samples: Loan and Security Agreement (Intricon Corp), Loan and Security Agreement (Intricon Corp)

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Release of Claims Against Bank. In consideration of the Bank making the Loans and issuing the Letters of Creditdescribed in this Agreement, each Borrower and all other Obligors the Obligor(s) do each hereby release and discharge the Bank of and from any and all claims, harm, injury, and damage of any and every kind, known or unknown, legal or equitable, which Borrower or any Obligor may of the Obligor(s) have against the Bank from the date of their respective first contact with the Bank until the date of this Loan AgreementAgreement including, including but not limited to, any claim arising from any reports (environmental reports, surveys, appraisals, etc.) prepared by any parties hired or recommended by the Bank. Each Borrower and all other Obligors the Obligor(s) confirm to Bank that they have reviewed the effect of this release with competent legal counsel of their choice, or have been afforded the opportunity to do so, prior to execution of this Agreement and the Loan Related Documents and do each acknowledge and agree that the Bank is relying upon this release in extending the Loans and issuing the Letters of Credit to the BorrowersBorrower.

Appears in 1 contract

Samples: Business Loan Agreement (United American Healthcare Corp)

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Release of Claims Against Bank. In consideration of the Bank making the Loans and issuing Term Loan, the Letters of Credit, each Borrower and all other Obligors do each hereby release and discharge the Bank of and from any and all claims, harm, injury, and damage of any and every kind, known or unknown, legal or equitable, which any Obligor may have against the Bank from the date of their respective first contact with the Bank until the date of this Loan AgreementAgreement including, including but not limited to, any claim arising from any reports (environmental reports, surveys, appraisals, etc.) prepared by any parties hired or recommended by the Bank. Each The Borrower and all other Obligors confirm to Bank that they have reviewed the effect of this release with competent legal counsel of their choice, or have been afforded the opportunity to do so, prior to execution of this Loan Agreement and the Loan Documents and do each acknowledge and agree that the Bank is relying upon this release in extending the Loans and issuing the Letters of Credit Term Loan to the BorrowersBorrower.

Appears in 1 contract

Samples: Loan and Security Agreement (Global Energy, Inc.)

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