Common use of Release of Indemnity Obligations Clause in Contracts

Release of Indemnity Obligations. The Stockholders covenant and agree, on or prior to the Closing, to execute and deliver to the Company, for the benefit of the Company and each Subsidiary, a general release and discharge, in form and substance satisfactory to the Purchaser, releasing and discharging the Company and each Subsidiary from any and all obligations to indemnify the Stockholders or otherwise hold them harmless pursuant to any agreement or other arrangement entered into prior to the Closing.

Release of Indemnity Obligations. The Stockholders covenant and agree, on or prior to the Closing, to execute and deliver to the CompanyAcquired Entities, for the benefit of the Company and each SubsidiaryAcquired Entities, a general release and discharge, substantially in the form and substance satisfactory to the Purchaserof Exhibit C attached hereto, releasing and discharging the Company and each Subsidiary Acquired Entities from any and all obligations obligations, excluding those set forth in Section 5.05 of the Disclosure Schedule, to indemnify the Stockholders or otherwise hold them it harmless pursuant to any agreement or other arrangement entered into prior to the Closing.

Release of Indemnity Obligations. The Stockholders covenant and agree, on or prior to the ClosingEffective Time, to execute and deliver to the Company, for the benefit of the Company and each SubsidiaryParent, a general release and discharge, in form and substance satisfactory to the Purchaser, Parent releasing and discharging the Company and each Subsidiary from any and all obligations to indemnify the Stockholders or otherwise hold them it harmless pursuant to any agreement or other arrangement entered into prior to the ClosingEffective Time except for the obligation to indemnify the Stockholders as officers or directors of the Company pursuant to the URBCA.