Releases and Waivers. (a) Each Obligor knowingly and voluntarily forever releases, acquits and discharges the Lender Group, from and of any and all claims, damages, losses, costs, expenses, compensation, causes of actions, counterclaims, suits, judgments, obligations, liabilities, indebtedness, debts, affirmative and other defenses, setoffs, and demands of any kind or nature whatsoever, in law, in equity or otherwise, whether presently known or unknown, which the Obligors may have had, now have, upon, or by reason of any matter, course or thing whatsoever relating to, arising out of, based upon, or in any manner connected with, directly or indirectly, any transaction, contracts, controversies, promises, duties, event, circumstance, action, failure to act, or occurrence of any sort or type, whether known or unknown, which occurred, existed, was taken, permitted, begun, or otherwise related or connected to or with (i) any or all of the Loan Obligations, this Agreement, any or all of the Loan Documents, (ii) Lender’s acts, statements, conduct, representations and omissions made in connection therewith, including, without limitation, the terms and conditions of this Agreement, and (iii) any fact, matter, transaction or event relating thereto, whether known or unknown, suspected or unsuspected, whether presently enforceable or enforceable in the future, that could, might or may be claimed to exist, whether liquidated or unliquidated, each as though fully set forth herein at length. (b) Without implying any limitation on the foregoing, each Obligor hereby agrees that from and after the date hereof, it will not assert to any person or entity that any deterioration of the business operations or financial condition of the Obligor was caused by any breach of contract or wrongful act of any member of the Lender Group, including, without limitation, any act to loan money or make other financial accommodations available to the Obligor or to fund any operations of the Obligor at any time. Each Obligor hereby knowingly and voluntarily, forever releases, acquits and discharges the Lender Group from and of any and all claims that any member of the Lender Group is in any way responsible for the past, current or future condition or deterioration of the business operations and/or financial condition of the Obligor, and from and of any and all claims that any member of the Lender Group breached any agreement. (c) Each Obligor hereby waives the provisions of any applicable laws restricting the release of claims that the Obligor does not know or suspect to exist at the time of release, which, if known, would have materially affected the decision to agree to these releases. In this connection, each Obligor hereby agrees, represents and warrants to Lender that it realizes and acknowledges that factual matters now unknown may have given or may hereafter give rise to causes of action, claims, demands, debts, controversies, damages, costs, losses, expenses and/or other rights, claims or amounts which are presently unknown, unanticipated and unsuspected, and each Obligor further agrees, represents and warrants that the releases provided herein have been negotiated and agreed upon in light of that realization and the Obligor nevertheless hereby intends to release, discharge and acquit the parties set forth herein from any such unknown causes of action, claims, demands, debts, controversies, damages, costs, losses, expenses and/or other rights, claims or amounts that are in any manner set forth in or related to any or all of the Loan Obligations, this Agreement, any or all of the Loan Documents and all dealings in connection therewith.
Appears in 1 contract
Samples: Loan and Security Agreement (Regional Health Properties, Inc)
Releases and Waivers. (a) Each Obligor hereby knowingly and voluntarily forever releases, acquits and discharges the Lender Bank and the Bank Group from and of any and all claims that the Bank or any member of the Bank Group is in any way responsible for the past, current or future condition or deterioration of the business operations and/or financial condition of any Obligor, and from and of any and all claims that the Bank or any member of the Bank Group breached any agreement to loan money or make other financial accommodations available to the Obligors or to fund any operations of the Obligors at any time. Each Obligor also hereby knowingly and voluntarily forever releases, acquits and discharges the Bank and the Bank Group, from and of any and all other claims, damages, losses, costs, expenses, compensation, causes of actions, counterclaims, suits, judgments, obligations, liabilities, indebtedness, debtsdefenses, affirmative and other defenses, setoffs, and demands of any kind or nature whatsoever, in law, law or in equity or otherwiseequity, whether presently known or unknown, which the Obligors such Obligor may have had, now have, or which it can, shall or may have for, upon, or by reason of any matter, course or thing whatsoever relating to, arising out of, based upon, or in any manner connected with, directly or indirectly, any transaction, contracts, controversies, promises, duties, event, circumstance, action, failure to act, or occurrence of any sort or type, whether known or unknown, which occurred, existed, was taken, permitted, begun, or otherwise related or connected to or with (i) any or all of the Loan ObligationsObligations and the Financing Documents, this Agreement, and/or any direct or all indirect action or omission of the Loan Documents, (ii) Lender’s acts, statements, conduct, representations and omissions made in connection therewith, including, without limitation, Bank and/or any of the terms and conditions of this Agreement, and (iii) any fact, matter, transaction or event relating thereto, whether known or unknown, suspected or unsuspected, whether presently enforceable or enforceable in the future, that could, might or may be claimed to exist, whether liquidated or unliquidated, each as though fully set forth herein at length.
(b) Without implying any limitation on the foregoing, each Bank Group. Each Obligor hereby further agrees that from and after the date hereof, it will not assert to any person or entity that any deterioration of the business operations or financial condition of the any Obligor was caused by any breach of contract or wrongful act of the Bank or any member of the Lender Group, including, without limitation, any act to loan money or make other financial accommodations available Bank Group which occurred prior to the Obligor or date hereof.
(b) Upon the indefeasible payment in full of all sums due to fund any operations the Bank and satisfaction of all of the Obligor Obligations and the release of the Letter of Credit (or the expiration thereof without a draw), the Bank shall, at any time. Each Obligor hereby knowingly the Obligor’ sole cost and voluntarilyexpense, release its liens on all collateral pledged or given to secure said obligations and, in connection therewith, forever releasesrelease, acquits acquit and discharges discharge the Lender Group Obligors from and of any and all claims that any member of the Lender Group is in any way responsible for the pastother future claims, current or future condition or deterioration of the business operations and/or financial condition of the Obligorsuits, actions, obligations and from and liabilities of any and all claims that any member kind or nature whatsoever arising out of the Lender Group breached any agreement.
(c) Each Obligor hereby waives the provisions of any applicable laws restricting the release of claims that the Obligor does not know or suspect relating to exist at the time of release, which, if known, would have materially affected the decision to agree to these releases. In this connection, each Obligor hereby agrees, represents and warrants to Lender that it realizes and acknowledges that factual matters now unknown may have given or may hereafter give rise to causes of action, claims, demands, debts, controversies, damages, costs, losses, expenses and/or other rights, claims or amounts which are presently unknown, unanticipated and unsuspected, and each Obligor further agrees, represents and warrants that the releases provided herein have been negotiated and agreed upon in light of that realization and the Obligor nevertheless hereby intends to release, discharge and acquit the parties set forth herein from any such unknown causes of action, claims, demands, debts, controversies, damages, costs, losses, expenses and/or other rights, claims or amounts that are in any manner set forth in or related to any or all of the Loan Obligations, this Agreement, any or all of the Loan Documents and all dealings due in connection therewithwith the Financing Documents.
Appears in 1 contract
Samples: Forbearance Agreement (Comstock Homebuilding Companies, Inc.)
Releases and Waivers. (a) Each Obligor hereby knowingly and voluntarily forever releases, acquits and discharges the Lender Bank and the Bank Group from and of any and all claims that the Bank or any member of the Bank Group is in any way responsible for the past, current or future condition or deterioration of the business operations and/or financial condition of any Obligor, and from and of any and all claims that the Bank or any member of the Bank Group breached any agreement to loan money or make other financial accommodations available to the Obligors or to fund any operations of the Obligors at any time. Each Obligor also hereby knowingly and voluntarily forever releases, acquits and discharges the Bank and the Bank Group, from and of any and all other claims, damages, losses, costs, expenses, compensation, causes of actions, counterclaims, suits, judgments, obligations, liabilities, indebtedness, debtsdefenses, affirmative and other defenses, setoffs, and demands of any kind or nature whatsoever, in law, law or in equity or otherwiseequity, whether presently known or unknown, which the Obligors such Obligor may have had, now have, or which it can, shall or may have for, upon, or by reason of any matter, course or thing whatsoever relating to, arising out of, based upon, or in any manner connected with, directly or indirectly, any transaction, contracts, controversies, promises, duties, event, circumstance, action, failure to act, or occurrence of any sort or type, whether known or unknown, which occurred, existed, was taken, permitted, begun, or otherwise related or connected to or with (i) any or all of the Loan ObligationsObligations and the Financing Documents, this Agreement, and/or any direct or all indirect action or omission of the Loan Documents, (ii) Lender’s acts, statements, conduct, representations and omissions made in connection therewith, including, without limitation, Bank and/or any of the terms and conditions of this Agreement, and (iii) any fact, matter, transaction or event relating thereto, whether known or unknown, suspected or unsuspected, whether presently enforceable or enforceable in the future, that could, might or may be claimed to exist, whether liquidated or unliquidated, each as though fully set forth herein at length.
(b) Without implying any limitation on the foregoing, each Bank Group. Each Obligor hereby further agrees that from and after the date hereof, it will not assert to any person or entity that any deterioration of the business operations or financial condition of the any Obligor was caused by any breach of contract or wrongful act of the Bank or any member of the Lender Group, including, without limitation, any act to loan money or make other financial accommodations available Bank Group which occurred prior to the Obligor or to fund any operations of the Obligor at any time. Each Obligor hereby knowingly and voluntarily, forever releases, acquits and discharges the Lender Group from and of any and all claims that any member of the Lender Group is in any way responsible for the past, current or future condition or deterioration of the business operations and/or financial condition of the Obligor, and from and of any and all claims that any member of the Lender Group breached any agreementdate hereof.
(cb) Each Obligor hereby waives Concurrent with the provisions execution of any applicable laws restricting the release of claims that the Obligor does not know or suspect to exist at the time of release, which, if known, would have materially affected the decision to agree to these releases. In this connection, each Obligor hereby agrees, represents and warrants to Lender that it realizes and acknowledges that factual matters now unknown may have given or may hereafter give rise to causes of action, claims, demands, debts, controversies, damages, costs, losses, expenses and/or other rights, claims or amounts which are presently unknown, unanticipated and unsuspected, and each Obligor further agrees, represents and warrants that the releases provided herein have been negotiated and agreed upon in light of that realization and the Obligor nevertheless hereby intends to release, discharge and acquit the parties set forth herein from any such unknown causes of action, claims, demands, debts, controversies, damages, costs, losses, expenses and/or other rights, claims or amounts that are in any manner set forth in or related to any or all of the Loan Obligations, this Agreement, any the Bank will enter into and issue a conditional release (the “Release of Obligors”), pursuant to which Bank will fully and unconditionally release Obligors from all claims, liabilities, and obligations under the Financing Documents or all otherwise with respect to the Loan and the Collateral which will become effective retroactive to the Effective Date of this Agreement upon the earlier of (i) Bank’s successful foreclosure of the Loan Documents Collateral, or (ii) November 30, 2009, (the “Release Issuance Date”), provided that the Obligors have taken no action to frustrate Bank’s Foreclosure Proceedings. The form of Release shall be as set forth on Schedule IV attached to this Agreement. The Release shall be executed by the Bank and all dealings shall be held in connection therewithescrow by Bank’s counsel (the “Escrow Agent”) until the earlier of (i) the completion of the Foreclosure Proceedings on the Collateral by Bank, or the Release Issuance Date and shall thereafter be delivered to the Obligors by the Escrow Agent without further requirement or consent of the Parties. In no event shall the Release act to release Guarantor from its obligations pursuant to the Deficiency Note.
Appears in 1 contract
Samples: Forbearance and Conditional Release Agreement (Comstock Homebuilding Companies, Inc.)
Releases and Waivers. Release up to Date of This Agreement
(a) Each Obligor Upon execution of this Agreement, the Lender Group (as defined below) hereby knowingly and voluntarily forever releases, acquits and discharges FCA, FCA Management and their respective affiliates (other than Obligors), and their respective predecessors, officers, directors, agents, employees, representatives, successors and assigns (collectively, the Lender “FCA Group, ”) from and of any and all claims or potential claims, damages, losses, costs, expenses, compensation, causes of actions, counterclaims, suits, judgments, obligations, liabilities, indebtedness, debtsdefenses, affirmative and other defenses, setoffs, and demands of any kind or nature whatsoever, in law, law or in equity (whether based on contract, tort, statutory or otherwise, other theory of recovery) whether presently known or unknown, which the Obligors they may have had, now have, or which it can, shall or may have for, upon, or by reason of any matter, course or thing whatsoever relating in any way to, arising out offrom, based upon, or in any manner connected with, directly or indirectly, any transaction, contracts, controversies, promises, duties, event, circumstance, action, failure to act, or occurrence of any sort or type, whether known or unknown, which occurred, existed, was taken, permitted, begun, based on, or otherwise related to in any way, arising from, or connected to or with to, from the beginning of time until the execution date of this Agreement: (i) any the condition or all deterioration of the Loan Obligationsbusiness operations of either Obligor and/or the financial condition of either Obligor; (ii) any and all claims and potential claims that any member of the FCA Group breached any agreement with the Lender Group or in which any member of the Lender Group has an interest; and (iii) any obligations owed by the FCA Group to the Lender Group including, this Agreementwithout limitation, any or all of the Loan obligations under the Credit Documents, (ii) Lender’s acts, statements, conduct, representations and omissions made in connection therewith, including, without limitationthe Shared Services Agreement, the terms Railcar Services Agreement, the Management Services Agreement and conditions any other agreement, document or instrument referred to in the Credit Agreement, and further with respect to any claimed or potentially claimed direct or indirect action or omission of any member of the FCA Group relating thereto; provided, however, that no claim or potential claim against the FCA Group to the extent based upon any misrepresentation made by any member of the FCA Group to the Lender in entering into this Agreement shall be released.
(b) As a result of Section 4.1(a), for all periods prior to the Effective Date of this Agreement, the Lender Group hereby acknowledges and agrees that, upon its execution of this Agreement, and (iii) except as expressly set forth in this Agreement, it has no actual or potential claims against the FCA Group for payment of any factsums due to it, matterfor performance of any of the obligations owed to it, transaction or event relating theretofor any damages or losses, whether known in law or unknownin equity, suspected based upon, arising from, or unsuspectedrelated in any way to, whether presently enforceable the Credit Agreement or enforceable in other Credit Documents (other than those, if any, caused by their breach of the futureShared Services Agreement, that couldthe Railcar Services Agreement or the Management Services Agreement), might or may be claimed to exist, whether liquidated or unliquidated, each as though fully set forth herein at length.
(b) Without implying any limitation on the foregoing, each Obligor hereby agrees that from and after the date hereof, it will not assert to any person or entity that any deterioration of the business operations or financial condition of the Obligor was caused by any breach Obligors.
(c) Upon their execution of contract or wrongful act of any member of the Lender Groupthis Agreement, including, without limitation, any act to loan money or make other financial accommodations available to the Obligor or to fund any operations of the Obligor at any time. Each FCA Group and each Obligor hereby knowingly and voluntarily, voluntarily forever releases, acquits and discharges the Lender Group and all of its affiliates, and its respective predecessors, officers, directors, agents, employees, representatives, successors and assigns (collectively, the “Lender Group”) from and of any and all other claims that or potential claims, damages, losses, actions, counterclaims, suits, judgments, obligations, liabilities, defenses, affirmative defenses, setoffs, and demands of any member kind or nature whatsoever, in law or in equity, whether presently known or unknown, which they may have had, now have, or which they can, shall or may have for, upon, or by reason of the Lender Group is any matter, course or thing whatsoever relating in any way responsible for to, arising from, based upon, or in any manner connected with, any transaction, event, circumstance, action, failure to act, or occurrence of any sort or type, whether known or unknown, which occurred, existed, was taken, permitted, begun, based on, or otherwise related to in any way, arising from, or connected to, from the past, current or future beginning of time until the execution date of this Agreement: (i) the condition or deterioration of the business operations and/or financial condition of the either Obligor, and from and of ; (ii) any and all claims or potential claims that the Lender or any member of the Lender Group breached any agreement.
agreement with the FCA Group or in which an member of the FCA Group has an interest; and (ciii) Each Obligor hereby waives the provisions of any applicable laws restricting the release of claims that the Obligor does not know or suspect to exist at the time of release, whichobligations, if knownany, would have materially affected owed by the decision Lender Group to agree to these releases. In this connectionthe FCA Group including, each Obligor hereby agrees, represents and warrants to Lender that it realizes and acknowledges that factual matters now unknown may have given or may hereafter give rise to causes of action, claims, demands, debts, controversies, damages, costs, losses, expenses and/or other rights, claims or amounts which are presently unknown, unanticipated and unsuspected, and each Obligor further agrees, represents and warrants that the releases provided herein have been negotiated and agreed upon in light of that realization and the Obligor nevertheless hereby intends to release, discharge and acquit the parties set forth herein from any such unknown causes of action, claims, demands, debts, controversies, damages, costs, losses, expenses and/or other rights, claims or amounts that are in any manner set forth in or related to any or all of the Loan Obligations, this Agreementwithout limitation, any or all of the Loan Documents obligations under the Credit Documents, or any other agreement, document or instrument referred to in this Agreement, and further with respect to any claimed or potentially claimed direct or indirect action or omission of any member of the Lender Group relating thereto and any other agreement, document or instrument referred to in the Credit Agreement.
(d) As a result of Section 4.1(c), for all dealings periods prior to the Effective Date of this Agreement, the FCA Group hereby acknowledges and agrees that, upon their execution of this Agreement, they have no actual or potential claims against the Lender Group for performance of any of the obligations, if any, owed to it, or for any damages or losses, whether in connection therewithlaw or in equity, based upon, arising from, or related in any way to, the Credit Agreement or other Credit Documents, or the deterioration of the business operations or financial condition of the Obligors.
Appears in 1 contract
Samples: Forbearance and Settlement Agreement (FreightCar America, Inc.)
Releases and Waivers. (a) Each Obligor The Obligors each hereby jointly and severally, knowingly and voluntarily, forever release, acquit and discharge the Lender and the Lender Group from and of any and all claims that the Lender or any of the Lender Group is in any way responsible for the past, current or future condition or deterioration of the business operations and/or financial condition of any of the Obligors, and from and of any and all claims that the Lender or any of the Lender Group breached any agreement to loan money or make other financial accommodations available to the Borrower or to fund any operations of the Borrower at any time. The Obligors each further hereby jointly and severally, knowingly and voluntarily forever releasesrelease, acquits acquit and discharges discharge the Lender and the Lender Group, from and of any and all other claims, damages, losses, costs, expenses, compensation, causes of actions, counterclaims, suits, judgments, obligations, liabilities, indebtedness, debtsdefenses, affirmative and other defenses, setoffs, and demands of any kind or nature whatsoever, in law, law or in equity or otherwiseequity, whether presently known or unknown, which any or all of the Obligors may have had, now have, or which they can, shall or may have for, upon, or by reason of any matter, course or thing whatsoever relating to, arising out of, based upon, or in any manner connected with, directly or indirectly, any transaction, contracts, controversies, promises, duties, event, circumstance, action, failure to act, or occurrence of any sort or type, whether known or unknown, which occurred, existed, was taken, permitted, begun, or otherwise related or connected to or with (i) any or all of the Loan ObligationsIndebtedness, this Agreement, any or all of the Loan Documents, Financing Documents (ii) Lender’s acts, statements, conduct, representations and omissions made in connection therewith, including, without limitation, the terms and conditions First Forbearance Agreement), and/or any direct or indirect action or omission of this Agreement, and (iii) the Lender and/or any fact, matter, transaction or event relating thereto, whether known or unknown, suspected or unsuspected, whether presently enforceable or enforceable in of the future, that could, might or may be claimed to exist, whether liquidated or unliquidated, each as though fully set forth herein at length.
(b) Without implying any limitation on the foregoing, each Obligor hereby agrees Lender Group. The Obligors further agree that from and after the date hereof, it they will not assert to any person or entity that any deterioration of the business operations or financial condition of any of the Obligor Obligors was caused by any breach of contract or wrongful act of the Lender or any member of the Lender Group, including, without limitation, any act .
(b) If the Guarantor is or becomes an "insider" as defined from time to loan money or make other financial accommodations available to the Obligor or to fund any operations time in Section 101 of the Obligor at United States Bankruptcy Code, U.S.C. Title 11 (the "Bankruptcy Code") with respect to any time. Each Obligor hereby knowingly other Obligor, then each such Guarantor irrevocably and voluntarily, forever releases, acquits and discharges the Lender Group from and of absolutely waives any and all claims that rights of subrogation, contribution, indemnification, reimbursement or any member similar right against such Obligor in connection with the Indebtedness and the transactions contemplated herein, whether such rights arise under an express or implied contract or by operation of law, it being the intention of the Lender Group is parties that the Guarantor shall not be deemed a "creditor", as defined in Section 101 of the Bankruptcy Code, of any Obligor in the event any such Obligor becomes a debtor in any way responsible for proceeding under the past, current or future condition or deterioration of the business operations and/or financial condition of the Obligor, and from and of any and all claims that any member of the Lender Group breached any agreementBankruptcy Code.
(c) Each Obligor hereby waives the provisions of any applicable laws restricting the release of claims that the Obligor does not know or suspect to exist at the time of release, which, if known, would have materially affected the decision to agree to these releases. In this connection, each Obligor hereby agrees, represents and warrants to Lender that it realizes and acknowledges that factual matters now unknown may have given or may hereafter give rise to causes of action, claims, demands, debts, controversies, damages, costs, losses, expenses and/or other rights, claims or amounts which are presently unknown, unanticipated and unsuspected, and each Obligor further agrees, represents and warrants that the releases provided herein have been negotiated and agreed upon in light of that realization and the Obligor nevertheless hereby intends to release, discharge and acquit the parties set forth herein from any such unknown causes of action, claims, demands, debts, controversies, damages, costs, losses, expenses and/or other rights, claims or amounts that are in any manner set forth in or related to any or all of the Loan Obligations, this Agreement, any or all of the Loan Documents and all dealings in connection therewith.
Appears in 1 contract
Samples: Limited Forbearance Agreement (Obsidian Enterprises Inc)
Releases and Waivers. (a) Each Obligor Borrower hereby, knowingly and voluntarily, forever releases, acquits and discharges the Lender and the Lender Group from and of any and all claims that the Lender or any of the Lender Group is in any way responsible for the past, current or future condition or deterioration of the business operations and/or financial condition of the Borrowers, and from and of any and all claims that the Lender or any of the Lender Group breached any agreement to loan money or make other financial accommodations available to the Borrowers or to fund any operations of the Borrowers at the time of or at any time prior to the execution and delivery of this Agreement. Each Borrower further hereby jointly and severally, knowingly and voluntarily forever releases, acquits and discharges the Lender and the Lender Group, from and of any and all other claims, damages, losses, costs, expenses, compensation, causes of actions, counterclaims, suits, judgments, obligations, liabilities, indebtedness, debtsdefenses, affirmative and other defenses, setoffs, and demands of any kind or nature whatsoever, in law, law or in equity or otherwiseequity, whether presently known or unknown, which the Obligors such Borrower may have had, now have, or which they can, shall or may have for, upon, or by reason of any matter, course or thing whatsoever relating to, arising out of, based upon, or in any manner connected with, directly or indirectly, any transaction, contracts, controversies, promises, duties, event, circumstance, action, failure to act, or occurrence of any sort or type, whether known or unknown, which occurred, existed, was taken, permitted, begun, or otherwise related or connected to or with (i) any or all of the Loan Obligations, at the time of or at any time prior to the execution and delivery of this Agreement, any or all of the Loan Financing Documents, (ii) Lender’s acts, statements, conduct, representations and omissions made in connection therewith, including, without limitation, and/or any direct or indirect action or omission of the terms and conditions Lender and/or any of this Agreement, and (iii) any fact, matter, transaction or event relating thereto, whether known or unknown, suspected or unsuspected, whether presently enforceable or enforceable in the future, that could, might or may be claimed to exist, whether liquidated or unliquidated, each as though fully set forth herein at length.
(b) Without implying any limitation on the foregoing, each Obligor hereby Lender Group. Each Borrower further agrees that from and after the date hereof, it will not assert to any person or entity that any deterioration of the business operations or financial condition of the Obligor Borrowers was caused by any breach of contract or wrongful act of any member of the Lender Group, including, without limitation, or any act to loan money or make other financial accommodations available to the Obligor or to fund any operations of the Obligor at any time. Each Obligor hereby knowingly and voluntarily, forever releases, acquits and discharges the Lender Group from and of any and all claims that any member of the Lender Group is in any way responsible for the past, current which occurred or future condition or deterioration of the business operations and/or financial condition of the Obligor, and from and of any and all claims that any member of the Lender Group breached any agreement.
(c) Each Obligor hereby waives the provisions of any applicable laws restricting the release of claims that the Obligor does not know or suspect to exist existed at the time of release, which, if known, would have materially affected or at any time prior to the decision to agree to these releases. In this connection, each Obligor hereby agrees, represents execution and warrants to Lender that it realizes and acknowledges that factual matters now unknown may have given or may hereafter give rise to causes delivery of action, claims, demands, debts, controversies, damages, costs, losses, expenses and/or other rights, claims or amounts which are presently unknown, unanticipated and unsuspected, and each Obligor further agrees, represents and warrants that the releases provided herein have been negotiated and agreed upon in light of that realization and the Obligor nevertheless hereby intends to release, discharge and acquit the parties set forth herein from any such unknown causes of action, claims, demands, debts, controversies, damages, costs, losses, expenses and/or other rights, claims or amounts that are in any manner set forth in or related to any or all of the Loan Obligations, this Agreement, any or all of the Loan Documents and all dealings in connection therewith.
Appears in 1 contract
Releases and Waivers. (a) Each Obligor a. The Obligors hereby knowingly and voluntarily forever releasesrelease, acquits acquit and discharges discharge the Lender Bank and the Bank Group from and of any and all claims that the Bank or any member of the Bank Group is in any way responsible for the past, current or future condition or deterioration of the business operations and/or financial condition of the Obligors, and from and of any and all claims that the Bank or any member of the Bank Group breached any agreement to loan money, to execute and/or terminate a Rate Protection Transaction, or make other financial accommodations available to the Obligors or to fund any operations of the Borrower at any time. The Obligors also hereby knowingly and voluntarily forever release, acquit and discharge the Bank and the Bank Group, from and of any and all other claims, damages, losses, costs, expenses, compensation, causes of actions, counterclaims, suits, judgments, obligations, liabilities, indebtedness, debtsdefenses, affirmative and other defenses, setoffs, and demands of any kind or nature whatsoever, in law, law or in equity or otherwiseequity, whether presently known or unknown, which any of the Obligors may have had, or may now havehave (regardless of when asserted or brought), upon, or by reason of any matter, course or thing whatsoever relating to, arising out of, based upon, or in any manner connected with, directly or indirectly, any transaction, contracts, controversies, promises, duties, event, circumstance, action, failure to act, or occurrence of any sort or type, whether known or unknown, which occurred, existed, was taken, permitted, begun, or otherwise related or connected to or with (i) any or all of the Loan Obligations, this Agreement, or any or all of the Loan Transaction Documents, (ii) Lender’s acts, statements, conduct, representations and omissions made in connection therewith, including, without limitation, and/or any direct or indirect action or omission of the terms and conditions Bank and/or any of this Agreement, and (iii) any fact, matter, transaction or event relating thereto, whether known or unknown, suspected or unsuspected, whether presently enforceable or enforceable in the future, that could, might or may be claimed to exist, whether liquidated or unliquidated, each as though fully set forth herein at length.
(b) Without implying any limitation on the foregoing, each Obligor hereby agrees Bank Group. The Obligors further agree that from and after the date hereof, it they will not assert to any person or entity that any deterioration of the business operations or financial condition of the Obligor Obligors was caused by any breach of contract or wrongful act of the Bank or any member of the Lender Group, including, without limitation, any act to loan money or make other financial accommodations available Bank Group which occurred prior to the Obligor or date hereof.
b. Upon the indefeasible payment in full of all sums due to fund any operations the Bank and satisfaction of all of the Obligor Obligors’ other Obligations, the Bank shall, at any time. Each Obligor hereby knowingly the Obligors’ sole cost and voluntarilyexpense, release its liens on all collateral pledged or given to secure said Obligations and, in connection therewith, forever releasesrelease, acquits acquit and discharges discharge the Lender Group Obligors from and of any and all claims that any member of the Lender Group is in any way responsible for the pastother future claims, current or future condition or deterioration of the business operations and/or financial condition of the Obligorsuits, actions, obligations and from and liabilities of any and all claims that any member kind or nature whatsoever arising out of the Lender Group breached any agreement.
(c) Each Obligor hereby waives the provisions of any applicable laws restricting the release of claims that the Obligor does not know or suspect relating to exist at the time of release, which, if known, would have materially affected the decision to agree to these releases. In this connection, each Obligor hereby agrees, represents and warrants to Lender that it realizes and acknowledges that factual matters now unknown may have given or may hereafter give rise to causes of action, claims, demands, debts, controversies, damages, costs, losses, expenses and/or other rights, claims or amounts which are presently unknown, unanticipated and unsuspected, and each Obligor further agrees, represents and warrants that the releases provided herein have been negotiated and agreed upon in light of that realization and the Obligor nevertheless hereby intends to release, discharge and acquit the parties set forth herein from any such unknown causes of action, claims, demands, debts, controversies, damages, costs, losses, expenses and/or other rights, claims or amounts that are in any manner set forth in or related to any or all of the Loan Obligations, this Agreement, any or all of the Loan Documents and all dealings due in connection therewithwith the Transaction Documents.
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