Release of London Market Insurers by Transtech and the Cooperating PRP Group. 1. Upon Transtech's and the Cooperating PRP Group's receipt of each London Market Insurer's allocated several share of the Settlement Amount, Transtech and the Cooperating PRP Group, severally, and any subsequently appointed trustee or representative acting for Transtech or the Cooperating PRP Group, shall be deemed to remise, release, covenant not to sxx and forever discharge the following: (a) the London Market Insurer making such payment; (b) each of that London Market Insurers' present and former officers, directors, employees, partners, limited partners, shareholders, members, subsidiaries, affiliates, representatives, attorneys and agents in such capacity and, (c) the respective heirs, executors, administrators, successors, assigns and reinsurers (as such) of any of the Persons identified in subparagraphs (a) and (b) hereof, from and against all manner of action, causes of action, suits, debts, accounts, promises, warranties, damages (consequential or punitive), agreements, costs, expenses, claims or demands whatsoever, in law or in equity, whether presently known or unknown, asserted or unasserted, whether sounding in tort or contract, or arising under the statutes or administrative regulations of any jurisdiction, with respect to any and all past, present or future claims, of any type whatsoever, that Transtech ever had, now has, or hereafter may have: (i) for insurance coverage, including both defense costs and indemnification claims, with respect to the Subject Insurance Policies; and (ii) arising out of or relating to any act, omission, representation, or conduct of any sort in connection with the Subject Insurance Policies.
