Common use of Release of Existing Claims Clause in Contracts

Release of Existing Claims. a. Except with respect to the terms and conditions contained in this Agreement, the parties hereto and all of their directors, officers, shareholders, partners, heirs, employees, servants, parents, subsidiaries, affiliates, attorneys, insurers, assigns, successors, family members, agents and representatives, past and present, and each of them, and all the respective successors, assigns, heirs, executors, administrators and any legal personal representatives of each of the foregoing, and each of them, hereby release, remise, acquit and forever discharge each other, and all of the foregoing, from any and all claims, demands, actions, causes of action, debts, liabilities, rights, contracts, obligations, duties, damages, costs, expenses or losses, of every kind and nature whatsoever, and by whomever asserted, whether at this time known or suspected, or unknown or unsuspected, anticipated or contingent, direct or indirect, fixed or contingent, which may presently exist or which may hereafter become known, in law or in equity, in the nature of an administrative proceeding or otherwise, for or by reason of any event, transaction, matter or cause whatsoever, from the beginning of time until the date of the execution of this Agreement by the Company, excepting however, that the Company reserves its rights against Dealer for payment with respect to Products previously invoiced to Dealer, and Dealer reserves its rights against the Company only for accounting matters previously arising either out of returns of Products to the Company or for accruals for co-operative advertising, if applicable. b. The parties hereby expressly acknowledge and agree that the foregoing releases and waiver are essential and material terms of this Agreement, and without such provisions, this Agreement would not have been entered into. c. It is the intention of the parties that the releases contained herein shall not affect any rights conferred by or arising under this Agreement, but that said releases shall be effective as a bar to each and every claim, demand and cause of action specified above.