Common use of Release of the Lender Clause in Contracts

Release of the Lender. In consideration of Lender's entry into this Agreement, the Borrower, WFLP and the Guarantor hereby release, remise, acquit and forever discharge the Lender, the Lender's employees, agents, representatives, consultants, attorneys, fiduciaries, servants, officers, directors, partners, predecessors, successors and assigns, subsidiary corporations, parent corporations and related corporate divisions (all of the foregoing hereinafter called the "Released Parties") from any and all actions and causes of action, judgments, executions, suits, debts, claims, demands, liabilities, obligations, damages and expenses, breaches, rights of setoff, counterclaims and statutory rights, of any and every character, known or unknown, direct or indirect, liquidated or unliquidated, contingent or non-contingent, at law or in equity, of every kind or nature, including any which may arise in a bankruptcy or insolvency proceeding, whether heretofore or hereafter arising, for or because of any manner of things done, omitted or suffered to be done by any of the Released Parties prior to and including the date of execution hereof, arising from or in any way directly or indirectly related to this Agreement, the Forbearance Agreement as originally executed on June 30, 2005, or any of the Loan Documents or from the performance and payment by Borrower or WFLP thereunder, or from the Guarantee of Borrowers' obligations to Lender by the Guarantor, and also from all other claims, rights, demands or causes of action of any kind, in law or in equity against the Lender, except for Lenders duties hereunder (all of the foregoing hereinafter called, collectively, the "Released Matters"). Borrower, WFLP and the Guarantor acknowledge that the agreements in this Section are intended to be in full satisfaction of any and all alleged injuries or damages arising in connection with the Released Matters, whether known or unknown, at law or in equity, and that this release is a material inducement to the Lender's entry into this Agreement. Each of the Borrower, WFLP and the Guarantor further represents and warrants to the Lender that it has not transferred, assigned or otherwise conveyed, or purported to transfer, assign or otherwise convey, any right, title or interest in the Released Matters as to any Person and that the foregoing constitutes a full and complete release of all Released Matters.

Appears in 2 contracts

Samples: Forbearance Agreement (Williams Industries Inc), Forbearance Agreement (Williams Industries Inc)

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Release of the Lender. In consideration of Lender's entry into this Agreement, the Borrower, WFLP and the Guarantor hereby release, remise, acquit and forever discharge the Lender, the Lender's employees, agents, representatives, consultants, attorneys, fiduciaries, servants, officers, directors, partners, predecessors, successors and assigns, subsidiary corporations, parent corporations and related corporate divisions (all of the foregoing hereinafter called the "Released Parties") from any and all actions and causes of action, judgments, executions, suits, debts, claims, demands, liabilities, obligations, damages and expenses, breaches, rights of setoff, counterclaims and statutory rights, of any and every character, known or unknown, direct or indirect, liquidated or unliquidated, contingent or non-non- contingent, at law or in equity, of every kind or nature, including any which may arise in a bankruptcy or insolvency proceeding, whether heretofore or hereafter arising, for or because of any manner of things done, omitted or suffered to be done by any of the Released Parties prior to and including the date of execution hereof, arising from or in any way directly or indirectly related to this Agreement, the Forbearance Agreement as originally executed on June 30, 2005, or any of the Loan Documents or from the performance and payment by Borrower or WFLP thereunder, or from the Guarantee of Borrowers' obligations to Lender by the Guarantor, and also from all other claims, rights, demands or causes of action of any kind, in law or in equity against the Lender, except for Lenders duties hereunder (all of the foregoing hereinafter called, collectively, the "Released Matters"). Borrower, WFLP and the Guarantor acknowledge that the agreements in this Section are intended to be in full satisfaction of any and all alleged injuries or damages arising in connection with the Released Matters, whether known or unknown, at law or in equity, and that this release is a material inducement to the Lender's entry into this Agreement. Each of the Borrower, WFLP and the Guarantor further represents and warrants to the Lender that it has not transferred, assigned or otherwise conveyed, or purported to transfer, assign or otherwise convey, any right, title or interest in the Released Matters as to any Person and that the foregoing constitutes a full and complete release of all Released Matters.

Appears in 2 contracts

Samples: Forbearance Agreement (Williams Industries Inc), Forbearance Agreement (Williams Industries Inc)

Release of the Lender. In consideration of Lender's entry into this Agreement, the Borrower, WFLP and the Guarantor hereby release, remise, acquit and forever discharge the Lender, the Lender's employees, agents, representatives, consultants, attorneys, fiduciaries, servants, officers, directors, partners, predecessors, successors and assigns, subsidiary corporations, parent corporations and related corporate divisions (all of the foregoing hereinafter called the "Released Parties") from any and all actions and causes of action, judgments, executions, suits, debts, claims, demands, liabilities, obligations, damages and expenses, breaches, rights of setoff, counterclaims and statutory rights, of any and every character, known or unknown, direct or indirect, liquidated or unliquidated, contingent or non-non- contingent, at law or in equity, of every kind or nature, including any which may arise in a bankruptcy or insolvency proceeding, whether heretofore or hereafter arising, for or because of any manner of things done, omitted or suffered to be done by any of the Released Parties prior to and including the date of execution hereof, arising from or in any way directly or indirectly related to this Agreement, the Forbearance Agreement as originally executed on June 30, 2005, or any of the six amendments thereto, the Loan Documents or from the performance and payment by Borrower or WFLP thereunder, or from the Guarantee of Borrowers' obligations to Lender by the Guarantor, and also from all other claims, rights, demands or causes of action of any kind, in law or in equity against the Lender, except for Lenders Lender's duties hereunder (all of the foregoing hereinafter called, collectively, the "Released Matters"). Borrower, WFLP and the Guarantor acknowledge that the agreements in this Section are intended to be in full satisfaction of any and all alleged injuries or damages arising in connection with the Released Matters, whether known or unknown, at law or in equity, and that this release is a material inducement to the Lender's entry into this Agreement. Each of the Borrower, WFLP and the Guarantor further represents and warrants to the Lender that it has not transferred, assigned or otherwise conveyed, or purported to transfer, assign or otherwise convey, any right, title or interest in the Released Matters as to any Person and that the foregoing constitutes a full and complete release of all Released Matters.Released

Appears in 1 contract

Samples: Loan Modification Agreement (Williams Industries Inc)

Release of the Lender. In (a) The Borrower hereby confirms that as of the date hereof it has no claim, set-off, counterclaim, defense, or other cause of action against the Lender including, but not limited to, a defense of usury, any claim or cause of action at common law, in equity, statutory or otherwise, in contract or in tort, for fraud, malfeasance, misrepresentation, financial loss, usury, deceptive trade practice, or any other loss, damage or liability of any kind, including, without limitation, any claim to exemplary or punitive damages arising out of any transaction between the Borrower and the Lender. To the extent that any such set-off, counterclaim, defense, or other cause of action may exist or might hereafter arise based on facts known or unknown that exist as of this date (collectively, the “Released Claims”), such set-off, counterclaim, defense and other cause of action is hereby expressly and knowingly waived and released by the Borrower. The Borrower acknowledges that this release is part of the consideration of Lender's entry into to the Lender for the financial and other accommodations grantedby the Lender in this Agreement. (b) The Borrower hereby agrees, the Borrower, WFLP represents and the Guarantor hereby release, remise, acquit warrants that it realizes and forever discharge the Lender, the Lender's employees, agents, representatives, consultants, attorneys, fiduciaries, servants, officers, directors, partners, predecessors, successors and assigns, subsidiary corporations, parent corporations and related corporate divisions (all of the foregoing hereinafter called the "Released Parties") from any and all actions and acknowledges that factual matters now unknown to it may have given or may hereafter give rise to causes of action, judgments, executions, suits, debts, claims, demands, liabilitiesdebts, obligationscontroversies, damages damages, costs, losses and expenses, breaches, rights of setoff, counterclaims and statutory rights, of any and every character, known or which are presently unknown, direct or indirectunanticipated and unsuspected, liquidated or unliquidatedand the Borrower further agrees, contingent or non-contingentrepresents and warrants that this Agreement has been negotiated and agreed upon in light of that realization and that it nevertheless hereby intends to release, at law or in equity, discharge and acquit the Lender from all Released Claims. In furtherance of every kind or nature, including any which may arise in a bankruptcy or insolvency proceeding, whether heretofore or hereafter arising, for or because of any manner of things done, omitted or suffered to be done by any of the Released Parties prior to and including the date of execution hereof, arising from or in any way directly or indirectly related to this Agreementintention, the Forbearance Agreement as originally executed on June 30, 2005, or any of the Loan Documents or from the performance and payment by Borrower or WFLP thereunder, or from the Guarantee of Borrowers' obligations to Lender by the Guarantor, and also from all other claims, rights, demands or causes of action of any kind, in law or in equity against the Lender, except for Lenders duties hereunder (all of the foregoing hereinafter called, collectively, the "Released Matters"). Borrower, WFLP and the Guarantor acknowledge that the agreements in this Section are intended to be in full satisfaction of expressly waives any and all alleged injuries or damages arising in connection with rights conferred upon it by the Released Matters, whether known or unknown, at law or in equityprovisions of California Civil Code Section 1542, and expressly agrees that this release is a material inducement Agreement shall be given full force and effectaccording to the Lender's entry into this Agreementeach of its express provisions. Each of the BorrowerCalifornia Civil Code Section 1542 provides: “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WFLP and the Guarantor further represents and warrants to the Lender that it has not transferred, assigned or otherwise conveyed, or purported to transfer, assign or otherwise convey, any right, title or interest in the Released Matters as to any Person and that the foregoing constitutes a full and complete release of all Released MattersWHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR”.

Appears in 1 contract

Samples: Modification Agreement

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Release of the Lender. In consideration of Lender's entry into this Agreement, the Borrower, WFLP Borrower and the Guarantor hereby release, remise, acquit and forever discharge the Lender, the Lender's employees, agents, representatives, consultants, attorneys, fiduciaries, servants, officers, directors, partners, predecessors, successors and assigns, subsidiary corporations, parent corporations and related corporate divisions (all of the foregoing hereinafter called the "Released Parties") from any and all actions and causes of action, judgments, executions, suits, debts, claims, demands, liabilities, obligations, damages and expenses, breaches, rights of setoff, counterclaims and statutory rights, of any and every character, known or unknown, direct or indirect, liquidated or unliquidated, contingent or non-contingent, at law or in equity, of every kind or nature, including any which may arise in a bankruptcy or insolvency proceeding, whether heretofore or hereafter arising, for or because of any manner of things done, omitted or suffered to be done by any of the Released Parties prior to and including the date of execution hereof, arising from or in any way directly or indirectly related to this Agreement, the Forbearance Agreement as originally executed on June 30, 2005, or any of the Loan Documents or from the performance and payment by Borrower or WFLP thereunder, or from the Guarantee Guarantees of Borrowers' obligations to Lender by the Guarantor, and also from all other claims, rights, demands or causes of action of any kind, in law or in equity against the Lender, except for Lenders duties hereunder and Lender's duties under the Guarantee Agreements (all of the foregoing hereinafter called, collectively, the "Released Matters"). Borrower, WFLP Borrower and the Guarantor acknowledge that the agreements in this Section are intended to be in full satisfaction of any and all alleged injuries or damages arising in connection with the Released Matters, whether known or unknown, at law or in equity, and that this release is a material inducement to the Lender's entry into this Agreement. Each of the Borrower, WFLP Borrower and the Guarantor further represents and warrants to the Lender that it has not transferred, assigned or otherwise conveyed, or purported to transfer, assign or otherwise convey, any right, title or interest in the Released Matters as to any Person and that the foregoing constitutes a full and complete release of all Released Matters.

Appears in 1 contract

Samples: Forbearance Agreement (Williams Industries Inc)

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