Releases and Waivers. OF EACH PARTY - The parties hereto agree as follows: (A) EMPLOYEE hereby fully, completely and unconditionally releases and forever discharges any and all claims, rights, demands, actions, obligations, liabilities, and causes of action of any and every kind, which he or his heirs, personal representatives or assigns ever had, or now have, or hereafter may have (based on events transpiring on or before the Effective Date) against UNIFI, its subsidiaries and affiliates and their respective officers, directors, shareholders, representatives, counsel and agents, in each case past or present, of whatsoever kind and nature, in law, equity or otherwise, arising out of or in any way connected with his employment, association or other involvement or any type, nature and kind with UNIFI. THIS RELEASE AND WAIVER INCLUDES BUT IS NOT LIMITED TO CLAIMS ARISING UNDER FEDERAL, STATE OR LOCAL LAWS PROHIBITING EMPLOYMENT DISCRIMINATION (INCLUDING THE AGE DISCRIMINATION IN EMPLOYMENT ACT, TITLE VII OF THE CIVIL RIGHTS ACT OF 1964, AND THE AMERICAN WITH DISABILITIES ACT) OR CLAIMS GROWING OUT OF ANY LEGAL RESTRICTIONS ON THE COMPANY'S RIGHTS TO TERMINATE ITS EMPLOYEES. (B) UNIFI hereby fully, completely and unconditionally releases and forever discharges any and all claims, rights, demands, actions, obligations, liabilities, and causes of action of any and every kind, which it, its successors or assigns ever had, or now have, or hereafter may have (based on events transpiring on or before the Effective Date) against EMPLOYEE, his heirs, personal representatives or assigns, in each case past or present, of whatsoever kind and nature, in law, equity or otherwise, arising out of or in any way connected with his employment, association or other involvement with UNIFI. (C) EMPLOYEE ACKNOWLEDGES THAT HE HAS READ AND FULLY UNDERSTANDS THE PROVISIONS OF THIS AGREEMENT, HAS HAD SUFFICIENT TIME TO EVALUATE THE TERMS OF THIS AGREEMENT, HAS BEEN ADVISED TO CONSULT WITH COUNSEL BEFORE SIGNING THIS AGREEMENT, AND FREELY AND WITHOUT RESERVATIONS ENTERS INTO THIS AGREEMENT AND THE WAIVERS AND RELEASES CONTAINED HEREIN. EMPLOYEE hereby further acknowledges that in making this Agreement and Release that he understands that he is relying upon his own judgment, belief and knowledge of the extent and nature of said claims and payments or that of his own advisors and expressly acknowledges and confirms that he has not been influenced to any extent whatsoever in making this Agreement and Release by any representations or statements regarding any payments, claims or conditions or regarding any other matters as made by any other person connected with or represented by any of the Parties of this Agreement. (D) The Parties hereto agree that this is a compromised settlement of a doubtful and disputed claim or right to act and the payment of the funds herein and the performance of this Agreement shall not be construed as an admission of liability or responsibility on the part of any of the Parties hereto other than expressly provided for herein. This Agreement shall be deemed to be strictly confidential by and between these Parties and by express agreement and understanding this Agreement shall not be deemed, referenced, cited or referred to by the Parties hereto or any other third parties relating to EMPLOYEE'S employment with UNIFI, nor shall this Agreement be used as evidence in any litigation between and among the Parties to this Agreement (or any other third parties) except to establish only between the Parties to this Agreement specifically the terms and conditions set forth therein. Further, the Parties hereby covenant and agree that upon the execution of this document and prior thereto that they have not nor will they in the future discuss with anyone the terms and conditions of this Agreement or anything pertaining to the terms and conditions of this Agreement, the negotiation of the terms and conditions of this Agreement, the settlement terms and conditions of this Agreement or the details of this Agreement, except as required by court order or with the written consent of all parties to this Agreement. Further, all Parties hereto agree that upon receipt of a subpoena or any formal legal request for information covered by or contained in this Agreement that they will as soon as practical notify one another in writing of such pending request to the persons at the addresses set forth herein and that the terms of this Agreement shall remain confidential and shall only be disclosed by any Party hereto as that Party is ordered to do so by a court of competent jurisdiction, or as required for the preparation of any state or federal tax return.
Appears in 4 contracts
Samples: Severance Agreement (Unifi Inc), Severance Agreement (Unifi Inc), Severance Agreement (Unifi Inc)
Releases and Waivers. OF EACH PARTY - The parties hereto agree as follows3.1 In consideration for LFSL proposing the Scheme and assuming the obligations imposed on it thereunder, each Scheme Creditor, with effect from the Release Date, fully, finally, irrevocably and unconditionally releases:
(Aa) EMPLOYEE hereby LFSL to the fullest extent permissible by applicable law from (and fully, completely finally, irrevocably and unconditionally releases and forever discharges waives) any and all claims, rights, demands, actions, obligations, liabilities, and causes of action of action, lawsuits, counterclaims, set-offs, charges, debts, losses, Liabilities, demands and Proceedings whatsoever (including for damages, interest, fees, expenses, proprietary remedies or costs), whether existing, alleged, prospective or contingent, whether known or unknown to any and every kindperson, which he whether or his heirs, personal representatives or assigns ever had, or now have, or hereafter may have (based on events transpiring on or before the Effective Date) against UNIFI, its subsidiaries and affiliates and their respective officers, directors, shareholders, representatives, counsel and agents, in each case past or present, of whatsoever kind and nature, in not recognised by any law, equity whether arising from or affected by any change in the law or any other change in circumstances, whether arising out of negligent, wilful or intentional conduct or otherwise, arising out which that Scheme Creditor has or, but for this Scheme, may in the future have, against LFSL in respect of or in any way connected with his employment, association or other involvement or any type, nature (i) the Scheme Claims and kind with UNIFI. THIS RELEASE AND WAIVER INCLUDES BUT IS NOT LIMITED TO CLAIMS ARISING UNDER FEDERAL, STATE OR LOCAL LAWS PROHIBITING EMPLOYMENT DISCRIMINATION (INCLUDING THE AGE DISCRIMINATION IN EMPLOYMENT ACT, TITLE VII OF THE CIVIL RIGHTS ACT OF 1964, AND THE AMERICAN WITH DISABILITIES ACTii) OR CLAIMS GROWING OUT OF ANY LEGAL RESTRICTIONS ON THE COMPANY'S RIGHTS TO TERMINATE ITS EMPLOYEES.otherwise on whatever basis; and
(Bb) UNIFI hereby the past, present and future directors, officers, employees, agents, insolvency officeholders, consultants, partners, auditors, insurers (other than the Insurers in respect of the Insurance Proceeds) and legal, financial and other advisers of LFSL, to the fullest extent permissible by applicable law from (and fully, completely finally, irrevocably and unconditionally releases and forever discharges waives) any and all claims, rightsactions, demandscauses of action, lawsuits, counterclaims, set-offs, charges, debts, losses, Liabilities, demands and Proceedings whatsoever (including for damages, interest, fees, expenses, proprietary remedies or costs), whether existing, alleged, prospective or contingent, whether known or unknown to any person, whether or not recognised by any law, whether arising from or affected by any change in the law or any other change in circumstances, whether arising out of negligent, wilful or intentional conduct or otherwise, which that Scheme Creditor has or, but for this Scheme, may in the future have, in any capacity whatsoever against the past, present and future directors, employees, consultants, partners and legal and financial advisers of LFSL arising out of, related to or in connection with the Scheme Claims and such past, present and future directors', officers', employees', agents', insolvency officeholders', consultants', partners', auditors', insurers' (other than the Insurers in respect of the Insurance Proceeds) and legal or financial or other advisers' participation in the formulation, negotiation, preparation, promotion, the entry into and/or the implementation of the Scheme.
3.2 In consideration of the Parent agreeing to pay the Scheme Costs Contribution to LFSL, to pay the Parent Contributions to the Settlement Account for distribution to the Scheme Creditors, and to assume the obligations imposed on it under the Scheme, each Scheme Creditor with effect from the Release Date fully, finally, irrevocably and unconditionally releases:
(a) each past, present and future member of the Link Group (other than LFSL) to the fullest extent permissible by applicable law from (and fully, finally, irrevocably and unconditionally waives) any and all claims, actions, obligations, liabilities, and causes of action of action, lawsuits, counterclaims, set-offs, charges, debts, losses, Liabilities, demands and Proceedings whatsoever (including for damages, interest, fees, expenses, proprietary remedies or costs), whether existing, alleged, prospective or contingent, whether known or unknown to any and every kindperson, which it, its successors whether or assigns ever had, or now have, or hereafter may have (based on events transpiring on or before the Effective Date) against EMPLOYEE, his heirs, personal representatives or assigns, in each case past or present, of whatsoever kind and nature, in not recognised by any law, equity whether arising from or affected by any change in the law or any other change in circumstances, whether arising out of negligent, wilful or intentional conduct or otherwise, which that Scheme Creditors has or, but for this Scheme, may in the future have, in any capacity whatsoever against each past, present and future member of the Link Group (other than LFSL) arising out of, related to or in connection with:
(i) the WEIF during the period up to, and including, the Record Date, including any Proceedings (including but not limited to, the civil claims issued against LFSL with claim numbers FL-2022-000011, FL-2022- 000012, FL-2022-000033 and FL-2023-000003) and any issue raised in those Proceedings; and
(ii) the Group Contribution Deed Liabilities; and
(b) the past, present and future directors, officers, employees, agents, insolvency officeholders, consultants, partners, insurers (other than the Insurers in respect of the Insurance Proceeds), auditors and legal, financial and other advisers of each past, present and future member of the Link Group (other than LFSL), to the fullest extent permissible by applicable law from (and fully, finally, irrevocably and unconditionally waives) any and all claims, actions, causes of action. lawsuits, counterclaims, set-offs, charges, debts, losses, Liabilities, demands and Proceedings whatsoever (including for damages, interest, fees, expenses, proprietary remedies or costs), whether existing, alleged, prospective or contingent, whether known or unknown to any person, whether or not recognised by any law, whether arising from or affected by any change in the law or any other change in circumstances, whether arising out of negligent, wilful or in any way connected with his employmentintentional conduct or otherwise, association or other involvement with UNIFI.
(C) EMPLOYEE ACKNOWLEDGES THAT HE HAS READ AND FULLY UNDERSTANDS THE PROVISIONS OF THIS AGREEMENTwhich that Scheme Creditor has or, HAS HAD SUFFICIENT TIME TO EVALUATE THE TERMS OF THIS AGREEMENTbut for this Scheme, HAS BEEN ADVISED TO CONSULT WITH COUNSEL BEFORE SIGNING THIS AGREEMENT, AND FREELY AND WITHOUT RESERVATIONS ENTERS INTO THIS AGREEMENT AND THE WAIVERS AND RELEASES CONTAINED HEREIN. EMPLOYEE hereby further acknowledges that in making this Agreement and Release that he understands that he is relying upon his own judgment, belief and knowledge of the extent and nature of said claims and payments or that of his own advisors and expressly acknowledges and confirms that he has not been influenced to any extent whatsoever in making this Agreement and Release by any representations or statements regarding any payments, claims or conditions or regarding any other matters as made by any other person connected with or represented by any of the Parties of this Agreement.
(D) The Parties hereto agree that this is a compromised settlement of a doubtful and disputed claim or right to act and the payment of the funds herein and the performance of this Agreement shall not be construed as an admission of liability or responsibility on the part of any of the Parties hereto other than expressly provided for herein. This Agreement shall be deemed to be strictly confidential by and between these Parties and by express agreement and understanding this Agreement shall not be deemed, referenced, cited or referred to by the Parties hereto or any other third parties relating to EMPLOYEE'S employment with UNIFI, nor shall this Agreement be used as evidence in any litigation between and among the Parties to this Agreement (or any other third parties) except to establish only between the Parties to this Agreement specifically the terms and conditions set forth therein. Further, the Parties hereby covenant and agree that upon the execution of this document and prior thereto that they have not nor will they may in the future discuss have, in any capacity whatsoever against the past, present and future directors, employees, consultants, partners and legal and financial advisers of each past, present and future member of the Link Group (other than LFSL) related to, under or in connection with anyone or arising out of:
(i) the terms WEIF during the period up to, and conditions including, the Record Date, including any Proceedings (including but not limited to, the civil claims issued against LFSL with claim numbers FL-2022-000011, FL-2022- 000012, FL-2022-000033 and FL-2023-000003);
(ii) the Group Contribution Deed Liabilities; and
(iii) such past, present and future directors', officers', employees', agents', insolvency officeholders', consultants', partners', insurers', auditors' and legal and financial advisers' participation in the formulation, negotiation, preparation, promotion, the entry into and/or the implementation of the Scheme.
3.3 The releases in Clauses 3.1 and 3.2 (Releases and Waivers) do not apply to any Liability in respect of fraud or dishonesty by any past, present and future member of the Link Group (including LFSL) or their respective past, present and future directors, officers, employees, agents, insolvency officeholders, consultants, partners, insurers, auditors and legal, financial or other advisers.
3.4 With effect from the Release Date, Scheme Creditors may not commence or continue or threaten any Proceedings or assist or encourage in the commencement, continuation or threatening of any Proceedings against:
(a) the Released Parties in any jurisdiction, to establish the existence, amount, or enforce or procure the payment, of a Released Claim; or
(b) the past, present and future directors, officers, employees, agents, insolvency officeholders, consultants, partners, insurers (other than the Insurers in respect of the Insurance Proceeds), auditors and legal, financial and other advisers of each past, present and future member of the Link Group in any jurisdiction, in respect of such past, present and future directors', officers', employees', agents', insolvency officeholders', consultants', partners', insurers' and legal, financial and other advisers' participation in the formulation, negotiation, preparation, promotion, the entry into and/or the implementation of the Scheme, except that a Scheme Creditor may commence and continue Proceedings against LFSL or the Parent, if LFSL or the Parent (as applicable) fails to comply with their obligations under this Agreement Scheme.
3.5 A Scheme Creditor who obtains any order, judgment, decision or anything pertaining award in breach of Clause 3.4 (Releases and Waivers) shall not entitled to rely on such an order, judgment, decision or award to prove a Scheme Claim, and shall not have any right to enforce any such order, judgment, decision or award.
3.6 If any Scheme Creditor takes any action in breach of Clause 3.4 (Releases and Waivers), it shall, without prejudice to any other rights of LFSL or the applicable Released Party:
(a) be treated as having received an advance distribution on account of its Scheme Claim equal to the terms and conditions amount or gross value of this Agreementany money or benefit obtained by it at the expense of LFSL and/or the applicable Released Party, as the negotiation of the terms and conditions of this Agreement, the settlement terms and conditions of this Agreement or the details of this Agreement, except as required by court order or with the written consent of all parties to this Agreement. Further, all Parties hereto agree that upon receipt of a subpoena or any formal legal request for information covered by or contained in this Agreement that they will as soon as practical notify one another in writing result of such pending request action; and
(b) be liable to the persons at the addresses set forth herein pay to LFSL any amounts received by it as a result of any action in breach of Clause 3.4 (Releases and that the terms of this Agreement shall remain confidential and shall only be disclosed Waivers) including any costs or expenses incurred by any Released Party hereto as that Party is ordered to do so by a court of competent jurisdiction, or as required for the preparation of any state or federal tax returnconsequence thereof.
Appears in 2 contracts
Samples: Scheme of Arrangement, Scheme of Arrangement
Releases and Waivers. OF EACH PARTY - The parties hereto agree as follows:
(A) EMPLOYEE hereby fully37. Pursuant to the Order Approving Settlement and Final Judgment, completely and unconditionally releases and forever discharges any and all claims, rights, demands, actions, obligations, liabilitieswithout further action by anyone, and causes of action whether or not a Claim Form has been executed and/or delivered by or on behalf of any such Class Member, on and every kind, which he or his heirs, personal representatives or assigns ever had, or now have, or hereafter may have (based on events transpiring on or before after the Effective Date) against UNIFI, its subsidiaries Plaintiffs and affiliates all other Class Members, on behalf of themselves and their respective officers, directors, shareholders, representatives, counsel and agents, in each case past or present, of whatsoever kind and nature, in law, equity or otherwise, arising out of or in any way connected with his employment, association or other involvement or any type, nature and kind with UNIFI. THIS RELEASE AND WAIVER INCLUDES BUT IS NOT LIMITED TO CLAIMS ARISING UNDER FEDERAL, STATE OR LOCAL LAWS PROHIBITING EMPLOYMENT DISCRIMINATION (INCLUDING THE AGE DISCRIMINATION IN EMPLOYMENT ACT, TITLE VII OF THE CIVIL RIGHTS ACT OF 1964, AND THE AMERICAN WITH DISABILITIES ACT) OR CLAIMS GROWING OUT OF ANY LEGAL RESTRICTIONS ON THE COMPANY'S RIGHTS TO TERMINATE ITS EMPLOYEES.
(B) UNIFI hereby fully, completely and unconditionally releases and forever discharges any and all claims, rights, demands, actions, obligations, liabilitiesReleasors, and causes of action of any and every kind, which it, its successors anyone claiming through or assigns ever had, or now have, or hereafter may have (based on events transpiring on or before the Effective Date) against EMPLOYEE, his heirs, personal representatives or assigns, in each case past or present, of whatsoever kind and nature, in law, equity or otherwise, arising out of or in any way connected with his employment, association or other involvement with UNIFI.
(C) EMPLOYEE ACKNOWLEDGES THAT HE HAS READ AND FULLY UNDERSTANDS THE PROVISIONS OF THIS AGREEMENT, HAS HAD SUFFICIENT TIME TO EVALUATE THE TERMS OF THIS AGREEMENT, HAS BEEN ADVISED TO CONSULT WITH COUNSEL BEFORE SIGNING THIS AGREEMENT, AND FREELY AND WITHOUT RESERVATIONS ENTERS INTO THIS AGREEMENT AND THE WAIVERS AND RELEASES CONTAINED HEREIN. EMPLOYEE hereby further acknowledges that in making this Agreement and Release that he understands that he is relying upon his own judgment, belief and knowledge of the extent and nature of said claims and payments or that of his own advisors and expressly acknowledges and confirms that he has not been influenced to any extent whatsoever in making this Agreement and Release by any representations or statements regarding any payments, claims or conditions or regarding any other matters as made by any other person connected with or represented by any of the Parties of this Agreement.
(D) The Parties hereto agree that this is a compromised settlement of a doubtful and disputed claim or right to act and the payment of the funds herein and the performance of this Agreement shall not be construed as an admission of liability or responsibility on the part behalf of any of the Parties hereto other than expressly provided them, for herein. This Agreement good and sufficient consideration, shall be deemed to be strictly confidential by and between these Parties have, and by express agreement operation of law and understanding of the Order Approving Settlement and Final Judgment shall have, fully, finally, and forever released, relinquished, settled, and discharged all Released Plaintiffs’ Claims against each and every one of the Releasees, except to the extent otherwise specified in this Agreement Settlement Agreement.
38. Pursuant to the Order Approving Settlement and Final Judgment, without further action by anyone, on and after the Effective Date, each and all Defendants, on behalf of themselves and their respective legal representatives, heirs, executors, administrators, predecessors, successors in interest, transferees and assignees, in their capacities as such, for good and sufficient consideration, shall not be deemeddeemed to have, referencedand by operation of law and of the Order Approving Settlement and Final Judgment shall have, cited fully, finally, and forever released, relinquished, settled, and discharged all Released Defendants’ Claims against each and every one of the Plaintiffs’ Releasees, except to the extent otherwise specified in this Settlement Agreement.
39. Nothing in the Order Approving Settlement and Final Judgment shall bar any action or referred to Claim by the Parties hereto or any other third parties relating their counsel to EMPLOYEE'S employment with UNIFI, nor shall this Agreement be used as evidence in any litigation between and among the Parties to this Agreement (or any other third parties) except to establish only between the Parties to this Agreement specifically the terms and conditions set forth therein. Further, the Parties hereby covenant and agree that upon the execution of this document and prior thereto that they have not nor will they in the future discuss with anyone the terms and conditions of this Agreement or anything pertaining to the terms and conditions of this Agreement, the negotiation of the terms and conditions of this Agreement, the settlement terms and conditions of this Agreement or the details of this Agreement, except as required by court order or with the written consent of all parties to this Agreement. Further, all Parties hereto agree that upon receipt of a subpoena or any formal legal request for information covered by or contained in this Agreement that they will as soon as practical notify one another in writing of such pending request to the persons at the addresses set forth herein and that enforce the terms of this Settlement Agreement or the Order Approving Settlement and Final Judgment.
40. Pending final determination of whether the Settlement should be approved and applied in the Action, neither Plaintiffs, nor any of the Class Members, shall remain confidential and shall only be disclosed by any Party hereto as that Party is ordered to do so by a court of competent jurisdictioncommence, maintain or prosecute against Defendants, the other Releasees, or as required any of them, any action or proceeding in any court or tribunal asserting or relating to any of the Released Plaintiffs’ Claims, and none of Defendants shall commence, maintain or prosecute against Plaintiffs, the other Plaintiffs’ Releasees, or any of them, any action or proceeding in any court or tribunal asserting or relating to any of the Released Defendants’ Claims.
41. The releases and waivers contained herein were separately bargained for and are essential elements of the preparation of any state or federal tax returnSettlement Agreement.
Appears in 2 contracts
Samples: Settlement Agreement, Settlement Agreement
Releases and Waivers. OF EACH PARTY - The parties hereto agree as follows:Each of the releases and waivers enumerated in this Section 6.10 shall become effective only upon the Closing pursuant to ARTICLE 2.
(Aa) EMPLOYEE hereby fullyAs of the Closing, completely and unconditionally the Contributor irrevocably waives, releases and forever discharges the Operating Partnership and the Operating Partnership's affiliates, partners (including Lawrxxxx X. Xxxxxxx), xgents, attorneys, successors and assigns of and from, any and all charges, complaints, claims, rightsliabilities, demandsdamages, actions, obligations, liabilities, and causes of action action, losses and costs of any and every kindnature whatsoever (collectively, which he "CONTRIBUTOR CLAIMS"), known or his heirsunknown, personal representatives suspected or assigns ever had, or now have, or hereafter may have (based on events transpiring on or before the Effective Date) against UNIFI, its subsidiaries and affiliates and their respective officers, directors, shareholders, representatives, counsel and agents, in each case past or present, of whatsoever kind and nature, in law, equity or otherwiseunsuspected, arising out of or in any way connected with his employmentrelating to the Partnership Agreement, association or other involvement this Contribution Agreement or any typeother matter which exists at the Closing, nature and kind with UNIFI. THIS RELEASE AND WAIVER INCLUDES BUT IS NOT LIMITED TO CLAIMS ARISING UNDER FEDERALexcept for Contributor Claims arising from the breach of any representation, STATE OR LOCAL LAWS PROHIBITING EMPLOYMENT DISCRIMINATION (INCLUDING THE AGE DISCRIMINATION IN EMPLOYMENT ACTwarranty, TITLE VII OF THE CIVIL RIGHTS ACT OF 1964, AND THE AMERICAN WITH DISABILITIES ACT) OR CLAIMS GROWING OUT OF ANY LEGAL RESTRICTIONS ON THE COMPANY'S RIGHTS TO TERMINATE ITS EMPLOYEEScovenant or obligation under this Contribution Agreement.
(Bb) UNIFI hereby fullyAs of the Closing, completely and unconditionally the Operating Partnership irrevocably waives, releases and forever discharges the Contributor and the Contributor's agents, attorneys, successors and assigns of and from, any and all charges, complaints, claims, rightsliabilities, demandsdamages, actions, obligations, liabilities, and causes of action losses and costs of any and every kindnature whatsoever (collectively, which it"OPERATING PARTNERSHIP CLAIMS"), its successors known or assigns ever hadunknown, suspected or now have, or hereafter may have (based on events transpiring on or before the Effective Date) against EMPLOYEE, his heirs, personal representatives or assigns, in each case past or present, of whatsoever kind and nature, in law, equity or otherwiseunsuspected, arising out of or in any way connected with his employmentrelating to the Partnership Agreement, association this Contribution Agreement or other involvement with UNIFI.
(C) EMPLOYEE ACKNOWLEDGES THAT HE HAS READ AND FULLY UNDERSTANDS THE PROVISIONS OF THIS AGREEMENT, HAS HAD SUFFICIENT TIME TO EVALUATE THE TERMS OF THIS AGREEMENT, HAS BEEN ADVISED TO CONSULT WITH COUNSEL BEFORE SIGNING THIS AGREEMENT, AND FREELY AND WITHOUT RESERVATIONS ENTERS INTO THIS AGREEMENT AND THE WAIVERS AND RELEASES CONTAINED HEREIN. EMPLOYEE hereby further acknowledges that in making this Agreement and Release that he understands that he is relying upon his own judgment, belief and knowledge of the extent and nature of said claims and payments or that of his own advisors and expressly acknowledges and confirms that he has not been influenced to any extent whatsoever in making this Agreement and Release by any representations or statements regarding any payments, claims or conditions or regarding any other matters as made by matter which exists at the Closing, except for Operating Partnership Claims arising from the breach of any other person connected with representation, warranty, covenant or represented by any of the Parties of obligation under this Contribution Agreement.
(Dc) The Parties hereto agree that this is a compromised settlement As of a doubtful the Closing, the Contributor waives and disputed claim or relinquishes all rights and benefits otherwise afforded to the Contributor under the Partnership Agreement including, without limitation, any right to act and the payment consent to or approve of the funds herein and sale or contribution by the performance of this Agreement shall not be construed as an admission of liability or responsibility on the part of any other partners of the Parties hereto other than expressly provided for herein. This Agreement shall be deemed to be strictly confidential by and between these Parties and by express agreement and understanding this Agreement shall not be deemed, referenced, cited or referred to by the Parties hereto or any other third parties relating to EMPLOYEE'S employment with UNIFI, nor shall this Agreement be used as evidence in any litigation between and among the Parties to this Agreement (or any other third parties) except to establish only between the Parties to this Agreement specifically the terms and conditions set forth therein. Further, the Parties hereby covenant and agree that upon the execution Partnership of this document and prior thereto that they have not nor will they in the future discuss with anyone the terms and conditions of this Agreement or anything pertaining their partnership interests to the terms and conditions of this Agreement, the negotiation of the terms and conditions of this Agreement, the settlement terms and conditions of this Agreement Company or the details of this Agreement, except as required by court order or with the written consent of all parties to this Agreement. Further, all Parties hereto agree that upon receipt of a subpoena or any formal legal request for information covered by or contained in this Agreement that they will as soon as practical notify one another in writing of such pending request to the persons at the addresses set forth herein and that the terms of this Agreement shall remain confidential and shall only be disclosed by any Party hereto as that Party is ordered to do so by a court of competent jurisdiction, or as required for the preparation of any state or federal tax returnOperating Partnership.
Appears in 2 contracts
Samples: Contribution Agreement (Tower Realty Trust Inc), Contribution Agreement (Tower Realty Trust Inc)
Releases and Waivers. OF EACH PARTY - The parties hereto agree as follows:
(A) EMPLOYEE hereby fully, completely and unconditionally releases and forever discharges any and all claims, rights, demands, actions, obligations, liabilities, and causes of action of any and every kind, which he or his heirs, personal representatives or assigns ever had, or now have, or hereafter may have (based on events transpiring on or before 1. Upon the Effective Date) against UNIFI, Guarantor and each Lessee does for itself and its subsidiaries successors and affiliates assigns forever release and their respective discharge each Lessor and its current and former officers, directors, partners, shareholders, representativesattorneys, counsel and agents, in each case past parents, Affiliates, employees, successors and assigns from any and all actions, causes of action, claims, debts, demands, duties, expenses, judgments, liabilities and obligations whatever, whether known or presentunknown, which the releasing party has, has had or may have against any or all Lessors and the above described persons and entities, whether presently known or unknown, whether from contract or tort, from the beginning of whatsoever kind and nature, in law, equity or otherwisetime to the Effective Date, arising out of or in connected with, directly or indirectly, any way connected with his employment, association or other involvement or any type, nature and kind with UNIFI. THIS RELEASE AND WAIVER INCLUDES BUT IS NOT LIMITED TO CLAIMS ARISING UNDER FEDERAL, STATE OR LOCAL LAWS PROHIBITING EMPLOYMENT DISCRIMINATION (INCLUDING THE AGE DISCRIMINATION IN EMPLOYMENT ACT, TITLE VII OF THE CIVIL RIGHTS ACT OF 1964, AND THE AMERICAN WITH DISABILITIES ACT) OR CLAIMS GROWING OUT OF ANY LEGAL RESTRICTIONS ON THE COMPANY'S RIGHTS TO TERMINATE ITS EMPLOYEESof the Leases.
(B) UNIFI hereby fully2. Except for the Lessees' Monetary Obligations, completely Lessors acknowledge and unconditionally releases agree that the Lessees have paid Lessors all Base Rent, Minimum Rent and other monetary amounts owing to Lessors under the Leases through the date hereof. Upon the Effective Date, other than with respect to amounts owing under the Rejected Leases which shall be handled as set forth in Section IV hereof and amounts owing for the period between the date of this Agreement and the Effective Date under the Leases that pursuant to Section V hereof are to be assumed, each Lessor for itself and its successors and assigns shall forever discharges release and discharge each Lessee and Guarantor and their current and former officers, directors, partners, shareholders, attorneys, agents, parents, Affiliates, employees, successors and assigns, from any and all actions, claims, rightsdebts, demands, actionsduties, obligationsexpenses, liabilitiesjudgments, liabilities and causes obligations whatever,whether known or unknown, whether from contract or tort, from the beginning of action of any and every kind, which it, its successors or assigns ever had, or now have, or hereafter may have (based on events transpiring on or before time to the Effective Date) against EMPLOYEE, his heirs, personal representatives or assigns, in each case past or present, of whatsoever kind and nature, in law, equity or otherwise, arising out of or in any way connected with his employmentwith, association directly or other involvement with UNIFI.
(C) EMPLOYEE ACKNOWLEDGES THAT HE HAS READ AND FULLY UNDERSTANDS THE PROVISIONS OF THIS AGREEMENTindirectly, HAS HAD SUFFICIENT TIME TO EVALUATE THE TERMS OF THIS AGREEMENT, HAS BEEN ADVISED TO CONSULT WITH COUNSEL BEFORE SIGNING THIS AGREEMENT, AND FREELY AND WITHOUT RESERVATIONS ENTERS INTO THIS AGREEMENT AND THE WAIVERS AND RELEASES CONTAINED HEREIN. EMPLOYEE hereby further acknowledges that in making this Agreement and Release that he understands that he is relying upon his own judgment, belief and knowledge of the extent and nature of said claims and payments or that of his own advisors and expressly acknowledges and confirms that he has not been influenced to any extent whatsoever in making this Agreement and Release by any representations or statements regarding any payments, claims or conditions or regarding any other matters as made by any other person connected with or represented by any of the Parties Leases or the Guaranty, including without limitation amounts owing under the Leases by Lessees to Lessors through the Effective Date, provided, however, that except as provided in Section XII hereof, the foregoing release of each Lessee and Guarantor with respect to non-monetary obligations shall apply only to non-monetary obligations of the Lessees under the Leases on or before the date of this Agreement.
, and as to non-monetary defaults that are subject to the provisions of Section XII hereof there is no release. In addition, upon the Effective Date, Lessors shall have waived (Di) The Parties hereto agree their claims that this is a compromised settlement all of a doubtful the Leases, other than the Complete Care Leases (as to which no claim of termination has been made by the applicable Lessor), have been terminated (and disputed claim shall have withdrawn all issued notices of termination with respect to the Leases), (ii)any and all damage claims relative to the Rejected Leases, (iii) any and all liens against the accounts receivable related to the Facilities governed by the Sun Leases or Rejected Leases and (iv), notwithstanding any provision of any Lease to the contrary, the right to act and the payment claim that any of the funds herein and following conditions concerning, actions taken by or against, or transactions entered into by, any Lessee, Guarantor or Affiliate thereof that exist or occur during the performance Cases or pursuant to a plan of this Agreement shall not be construed as reorganization in the Cases requires the consent of any Lessor, or constitutes, or gives rise to, a default or an admission Event of liability Default under any of the Leases: (a) the insolvency or responsibility on the part financial condition of any of the Parties hereto other than expressly provided for herein. This Agreement shall be deemed to be strictly confidential foregoing, the commencement of a case under Xxxxx 00, Xxxxxx Xxxxxx Code, the appointment of or taking possession by and between these Parties and by express agreement and understanding this Agreement shall not be deemeda trustee, referencedcustodian or receiver, cited or referred to by the Parties hereto or any other third parties relating to EMPLOYEE'S employment with UNIFIact of insolvency, nor shall this Agreement be used (b) the liquidation, dissolution, merger, consolidation or sale of substantially all assets, or the beginning of any process related thereto, (c) the assignment, pledge or encumbrance of any property, (d) the sale, pledge, hypothecation or transfer of any stock, (e) the acceleration of any obligation for borrowed money as evidence in any litigation between and among the Parties to this Agreement (or any other third parties) except to establish only between the Parties to this Agreement specifically the terms and conditions set forth therein. Further, the Parties hereby covenant and agree that upon the execution of this document and prior thereto that they have not nor will they in the future discuss with anyone the terms and conditions of this Agreement or anything pertaining to the terms and conditions of this Agreement, the negotiation a result of the terms and conditions commencement of this Agreementany case under Xxxxx 00, Xxxxxx Xxxxxx Code, (f) the settlement terms and conditions entry into any financing transaction, including without limitation exit financing under any plan of this Agreement reorganization or debtor in possession financing or (g) any restructuring, whether pursuant to a plan of reorganization or otherwise, of the details of this Agreementcorporate or capital structure, except as required by court order or with the written consent of all parties to this Agreement. Furtherownership, all Parties hereto agree that upon receipt of a subpoena or any formal legal request for information covered by or contained in this Agreement that they will as soon as practical notify one another in writing of such pending request to entities, including without limitation transfers of ownership of the persons at the addresses set forth herein and that the terms of this Agreement shall remain confidential and shall only be disclosed by any Party hereto as that Party is ordered to do so by a court of competent jurisdiction, stock or as required for the preparation assets of any state or federal tax returnof the foregoing (as to such matters in clause (iv), "Bankruptcy Related Events").
Appears in 1 contract
Samples: Forbearance Agreement (Omega Healthcare Investors Inc)
Releases and Waivers. OF EACH PARTY - The parties hereto agree as followsAs an inducement to Lender to make the Loans to Borrowers:
(Aa) EMPLOYEE Each of the Releasing Parties hereby fully, completely forever and unconditionally releases irrevocably release, waive, relinquish and discharge any and all Lender Liability Claims that the Releasing Parties now have or in the future may have against any of the Lender Released Parties, which Lender Liability Claims are based on any act or omission which allegedly occurred prior to the Effective Date of this Agreement. 62
(b) Each of the Releasing Parties hereby fully, forever discharges and irrevocably release, waive, relinquish and discharge each of the Lender Released Parties from any and all claims, rights, demands, actionsdebts, obligations, liabilities, and causes of action action, charges, expenses, damages, attorneys' fees and costs, obligations or liabilities of any and every kind, nature and character whatsoever, whether or not now known, suspected or unsuspected, which he or his heirs, personal representatives or assigns ever any of the Releasing Parties may have had, may now have or now havemay in the future claim to have against any of the Lender Released Parties arising out of, or hereafter may have (based on events transpiring on directly or before indirectly related in any manner to any act or omission to act which allegedly occurred prior to the Effective Date) against UNIFI, its subsidiaries and affiliates and Date of this Agreement. The Releasing Parties hereto have been fully advised by their respective officersattorneys of the contents and effect of the applicable provisions under the laws of the State of Nevada and the State of California upon the rights of each of them, directors, shareholders, representatives, counsel and agents, in each case past or present, of whatsoever kind and nature, in law, equity or otherwise, arising out of or in any way connected with his employment, association or other involvement or any type, nature and kind with UNIFI. THIS which provisions state substantially as follows: A GENERAL RELEASE AND WAIVER INCLUDES BUT IS DOES NOT LIMITED EXTEND TO CLAIMS ARISING UNDER FEDERALWHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE, STATE OR LOCAL LAWS PROHIBITING EMPLOYMENT DISCRIMINATION (INCLUDING WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE AGE DISCRIMINATION IN EMPLOYMENT ACT, TITLE VII DEBTOR. EACH OF THE CIVIL RIGHTS ACT RELEASING PARTIES ACKNOWLEDGE THAT THEY MAY HAVE SUSTAINED DAMAGES, LOSSES, FEES, COSTS OR EXPENSES WHICH ARE PRESENTLY UNKNOWN AND UNSUSPECTED, AND, NOTWITHSTANDING THE FOREGOING PROVISIONS OF 1964STATE LAW, ARE EXPRESSLY WAIVING THE SAME. EACH OF THE RELEASING PARTIES AGREES THAT IT INTENDS TO RELEASE EVEN UNKNOWN OR UNSUSPECTED CLAIMS. EACH OF THE RELEASING PARTIES REPRESENTS THAT IT HAS CONSULTED WITH ITS LEGAL COUNSEL REGARDING ITS CLAIMS AND POTENTIAL CLAIMS AGAINST THE AMERICAN WITH DISABILITIES ACT) OR CLAIMS GROWING OUT OF ANY LEGAL RESTRICTIONS ON THE COMPANY'S RIGHTS TO TERMINATE ITS EMPLOYEES.
(B) UNIFI hereby fullyRELEASED PARTIES, completely and unconditionally releases and forever discharges any and all claims, rights, demands, actions, obligations, liabilities, and causes of action of any and every kind, which it, its successors or assigns ever had, or now have, or hereafter may have (based on events transpiring on or before the Effective Date) against EMPLOYEE, his heirs, personal representatives or assigns, in each case past or present, of whatsoever kind and nature, in law, equity or otherwise, arising out of or in any way connected with his employment, association or other involvement with UNIFI.
(C) EMPLOYEE ACKNOWLEDGES THAT HE HAS CAREFULLY READ AND FULLY UNDERSTANDS ALL THE PROVISIONS OF THIS AGREEMENT, AND HAS HAD SUFFICIENT TIME TO EVALUATE VOLUNTARILY ENTERED INTO THIS AGREEMENT. THE TERMS FOREGOING RELEASES AND WAIVERS SHALL SURVIVE THE EXPIRATION OR TERMINATION OF THIS AGREEMENT, HAS BEEN ADVISED TO CONSULT WITH COUNSEL BEFORE SIGNING THIS AGREEMENT, AND FREELY AND WITHOUT RESERVATIONS ENTERS INTO THIS AGREEMENT AND THE WAIVERS AND RELEASES CONTAINED HEREIN. EMPLOYEE hereby further acknowledges that in making this Agreement and Release that he understands that he is relying upon his own judgment, belief and knowledge of the extent and nature of said claims and payments or that of his own advisors and expressly acknowledges and confirms that he has not been influenced to any extent whatsoever in making this Agreement and Release by any representations or statements regarding any payments, claims or conditions or regarding any other matters as made by any other person connected with or represented by any of the Parties of this Agreement.
(D) The Parties hereto agree that this is a compromised settlement of a doubtful and disputed claim or right to act and the payment of the funds herein and the performance of this Agreement shall not be construed as an admission of liability or responsibility on the part of any of the Parties hereto other than expressly provided for herein. This Agreement shall be deemed to be strictly confidential by and between these Parties and by express agreement and understanding this Agreement shall not be deemed, referenced, cited or referred to by the Parties hereto or any other third parties relating to EMPLOYEE'S employment with UNIFI, nor shall this Agreement be used as evidence in any litigation between and among the Parties to this Agreement (or any other third parties) except to establish only between the Parties to this Agreement specifically the terms and conditions set forth therein. Further, the Parties hereby covenant and agree that upon the execution of this document and prior thereto that they have not nor will they in the future discuss with anyone the terms and conditions of this Agreement or anything pertaining to the terms and conditions of this Agreement, the negotiation of the terms and conditions of this Agreement, the settlement terms and conditions of this Agreement or the details of this Agreement, except as required by court order or with the written consent of all parties to this Agreement. Further, all Parties hereto agree that upon receipt of a subpoena or any formal legal request for information covered by or contained in this Agreement that they will as soon as practical notify one another in writing of such pending request to the persons at the addresses set forth herein and that the terms of this Agreement shall remain confidential and shall only be disclosed by any Party hereto as that Party is ordered to do so by a court of competent jurisdiction, or as required for the preparation of any state or federal tax return.
Appears in 1 contract
Samples: Credit Agreement (Integrated Healthcare Holdings Inc)
Releases and Waivers. OF EACH PARTY - The parties hereto agree
2.1 In consideration of each Scheme Creditor's right to submit a claim under the Scheme in respect of any Scheme Liability owed to them by Morses Club (as follows:well as SchemeCo), on the date that the Compensation Fund Payment has been paid in full into the Trust Account, each Scheme Creditor (whether or not they have submitted a Scheme Claim or have an Ascertained Scheme Claim) shall fully, irrevocably release:
(Aa) EMPLOYEE hereby Morses Club to the fullest extent permissible by applicable law from (and fully, completely irrevocably and unconditionally releases and forever discharges waive) any and all claims, rights, demands, actions, obligationsdebts, liabilitieslosses, Liabilities, demands and causes of action of any and every kindproceedings whatsoever, whether existing, prospective or contingent, known or unknown, which he or his heirsany of the Scheme Creditors has or, personal representatives or assigns ever hadbut for this Release Agreement, or now may in the future have, in any capacity whatsoever against Morses Club under or hereafter may have (based on events transpiring on in connection with or before the Effective Date) against UNIFI, its subsidiaries and affiliates and their respective officers, directors, shareholders, representatives, counsel and agents, in each case past or present, of whatsoever kind and nature, in law, equity or otherwise, arising out of or in any way connected with his employment, association or other involvement or any type, nature and kind with UNIFI. THIS RELEASE AND WAIVER INCLUDES BUT IS NOT LIMITED TO CLAIMS ARISING UNDER FEDERAL, STATE OR LOCAL LAWS PROHIBITING EMPLOYMENT DISCRIMINATION (INCLUDING THE AGE DISCRIMINATION IN EMPLOYMENT ACT, TITLE VII OF THE CIVIL RIGHTS ACT OF 1964, AND THE AMERICAN WITH DISABILITIES ACT) OR CLAIMS GROWING OUT OF ANY LEGAL RESTRICTIONS ON THE COMPANY'S RIGHTS TO TERMINATE ITS EMPLOYEES.Scheme Liability; and
(Bb) UNIFI hereby SchemeCo to the fullest extent permissible by applicable law from (and fully, completely irrevocably and unconditionally releases and forever discharges waive) any and all claims, rightsactions, demandsdebts, losses, Liabilities, demands and proceedings whatsoever, whether existing, prospective or contingent, known or unknown, which any of the Scheme Creditors has or, but for this Release Agreement, may in the future have, in any capacity whatsoever against SchemeCo under or in connection with or arising out of any Scheme Liability, except to the extent that such Scheme Liabilities are or become Ascertained Scheme Claims in accordance with the Scheme; and
(c) the directors, employees and legal and financial advisers of Morses Club and SchemeCo, to the fullest extent permissible by applicable law from (and fully, irrevocably and unconditionally waive) any and all claims, actions, obligationsdebts, liabilitieslosses, Liabilities, demands and causes of action of any and every kindproceedings whatsoever, whether existing, prospective or contingent, known or unknown, which itany of the Scheme Creditors has or, its successors or assigns ever hadbut for this Release Agreement, or now may in the future have, in any capacity whatsoever against the directors, employees and legal and financial advisers of Morses Club and SchemeCo under or hereafter may have in connection with or arising out of such directors', employees' and legal and financial advisers' participation in the formulation, negotiation, preparation, promotion, the entry into and/or the implementation of the Scheme;
2.2 The release in Clause 2.1 does not apply to:
(based on events transpiring on a) any obligations under the Implementation and Funding Agreement; or
(b) any Liability incurred by Morses Club or before SchemeCo after the Effective Date, but only to the extent that such Liability arises directly from the conduct of Morses Club or SchemeCo following the Effective Date.
2.3 On the date of payment of an Ascertained Scheme Claim (or part thereof) against EMPLOYEEin accordance with Part 4 of the Scheme, his heirseach Scheme Creditor with an Ascertained Scheme Claim shall fully and irrevocably release:
(a) SchemeCo to the fullest extent permissible by applicable law from (and fully, personal representatives irrevocably and unconditionally waive) any and all claims, actions, debts, losses, Liabilities, demands and proceedings whatsoever, whether existing, prospective or assignscontingent, known or unknown, which any of the Scheme Creditors has or, but for this Release Agreement, may in the future have, in each case past any capacity whatsoever against SchemeCo under or present, of whatsoever kind and nature, in law, equity connection with or otherwise, arising out of or in any way connected with his employment, association or other involvement with UNIFI.Scheme Liability; and
(Cb) EMPLOYEE ACKNOWLEDGES THAT HE HAS READ AND FULLY UNDERSTANDS THE PROVISIONS OF THIS AGREEMENTthe persons listed in Schedule 1 to the fullest extent permissible by applicable law from (and fully, HAS HAD SUFFICIENT TIME TO EVALUATE THE TERMS OF THIS AGREEMENTirrevocably and unconditionally waive) any and all claims, HAS BEEN ADVISED TO CONSULT WITH COUNSEL BEFORE SIGNING THIS AGREEMENTactions, AND FREELY AND WITHOUT RESERVATIONS ENTERS INTO THIS AGREEMENT AND THE WAIVERS AND RELEASES CONTAINED HEREIN. EMPLOYEE hereby further acknowledges that in making this Agreement debts, losses, Liabilities, demands and Release that he understands that he is relying upon his own judgmentproceedings whatsoever, belief and knowledge of the extent and nature of said claims and payments whether existing, prospective or that of his own advisors and expressly acknowledges and confirms that he has not been influenced to any extent whatsoever in making this Agreement and Release by any representations contingent, known or statements regarding any paymentsunknown, claims or conditions or regarding any other matters as made by any other person connected with or represented by which any of the Parties Scheme Creditors has or, but for this Release Agreement, may in the future have, in any capacity whatsoever against those persons listed in Schedule 1 under or in connection with or arising out of any Scheme Liability in respect of a Purchased Loan (the "Purchased Loan Liability") solely to the extent that Morses Club has a corresponding Liability to such persons in respect of such Purchased Loan Liability.
2.4 From the date that the releases in:
(a) Clause 2.1 take effect,
(i) Scheme Creditors are not permitted to commence or continue any Proceedings against Morses Club, in any jurisdiction, in respect of a Scheme Liability, Scheme Claim, Scheme Creditor Payment, or otherwise in connection with the Scheme;
(ii) Scheme Creditors are not permitted to commence or continue any Proceedings against the directors, employees and legal and financial advisers of Morses Club and SchemeCo, in any jurisdiction, in respect of such directors', employees' and legal and financial advisers' participation in the formulation, negotiation, preparation, promotion, the entry into and/or the implementation of the Scheme; and
(b) Clause 2.3 take effect:
(i) Scheme Creditors are not permitted to commence or continue any Proceedings against SchemeCo in any jurisdiction, in respect of a Scheme Liability, Scheme Claim, Scheme Creditor Payment, or otherwise in connection with the Scheme; and
(ii) Scheme Creditors are not permitted to commence or continue any Proceedings against the persons listed in Schedule 1 in any jurisdiction, in respect of a Purchased Loan Liability solely to the extent that Morses Club has a corresponding Liability to such persons in respect of such Purchased Loan Liability.
2.5 Subject to the operation of Clause 3.2 of the Scheme (which for the avoidance of doubt, expressly binds all Scheme Creditors) and the effect of this Release Agreement, the Scheme Creditors do not, because of the Scheme, waive their rights to raise any defences (in particular, of equitable set-off) which they had a right to raise against any person (other than SchemeCo, Morses Club or a Debt Purchaser). Such defences shall apply to any claim brought against any person (other than SchemeCo, Morses Club or a Debt Purchaser) in the same way as they would have applied to such claim prior to the date of this Release Agreement.
(D) 2.6 The Parties hereto agree that releases and waivers in this is a compromised settlement of a doubtful and disputed claim or right to act and the payment of the funds herein and the performance of this Agreement Clause 2 shall not be construed as an admission apply to any Liability in respect of liability fraud, wilful misconduct, gross negligence, or responsibility on the part of any of the Parties hereto other than expressly provided for herein. This Agreement shall be deemed to be strictly confidential by and between these Parties and by express agreement and understanding this Agreement shall not be deemed, referenced, cited or referred to by the Parties hereto or any other third parties relating to EMPLOYEE'S employment with UNIFI, nor shall this Agreement be used as evidence in any litigation between and among the Parties to this Agreement (or any other third parties) except to establish only between the Parties to this Agreement specifically the terms and conditions set forth therein. Further, the Parties hereby covenant and agree that upon the execution of this document and prior thereto that they have not nor will they in the future discuss with anyone the terms and conditions of this Agreement or anything pertaining to the terms and conditions of this Agreement, the negotiation of the terms and conditions of this Agreement, the settlement terms and conditions of this Agreement or the details of this Agreement, except as required by court order or with the written consent of all parties to this Agreement. Further, all Parties hereto agree that upon receipt of a subpoena or any formal legal request for information covered by or contained in this Agreement that they will as soon as practical notify one another in writing of such pending request to the persons at the addresses set forth herein and that the terms of this Agreement shall remain confidential and shall only be disclosed dishonesty by any Party hereto Releasee (as that Party is ordered to do so by a court of competent jurisdiction, or as required for the preparation of any state or federal tax returndefined at Clause 3.3).
Appears in 1 contract
Samples: Release Agreement
Releases and Waivers. OF EACH PARTY - The parties hereto agree as follows:
(A) EMPLOYEE Borrower hereby fullyknowingly and voluntarily forever releases, completely acquits and unconditionally releases discharges the Lenders from and forever discharges of any and all claims that the Lenders, their affiliates or their agents are in any way responsible for the past or current condition or deterioration of the business operations and/or financial condition of the Borrower, and from and of any and all claims that the Lenders 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 Borrower also hereby knowingly and voluntarily forever releases, acquits and discharges the Lenders from and of any and all other claims, rightsdamages, demandslosses, actions, counterclaims, suits, judgments, obligations, liabilities, defenses, affirmative defenses, setoffs, and causes of action demands of any and every kindkind or nature whatsoever, in law or in equity, whether presently known or unknown, which he or his heirs, personal representatives or assigns ever the Borrower may have had, or now have, or hereafter which it can, shall or may have (based on events transpiring on for, upon, or before the Effective Date) against UNIFIby reason of any matter, its subsidiaries and affiliates and their respective officers, directors, shareholders, representatives, counsel and agents, in each case past course or present, of thing whatsoever kind and nature, in law, equity or otherwiserelating to, arising out of of, based upon, or in any way manner connected with his employmentwith, association any transaction, event, circumstance, action, failure to act, or other involvement occurrence of any sort or any type, nature and kind whether known or unknown, which occurred, existed, was taken, permitted, begun, or otherwise related or connected to or with UNIFI. THIS RELEASE AND WAIVER INCLUDES BUT IS NOT LIMITED TO CLAIMS ARISING UNDER FEDERAL, STATE OR LOCAL LAWS PROHIBITING EMPLOYMENT DISCRIMINATION (INCLUDING THE AGE DISCRIMINATION IN EMPLOYMENT ACT, TITLE VII OF THE CIVIL RIGHTS ACT OF 1964, AND THE AMERICAN WITH DISABILITIES ACT) OR CLAIMS GROWING OUT OF ANY LEGAL RESTRICTIONS ON THE COMPANY'S RIGHTS TO TERMINATE ITS EMPLOYEES.
(B) UNIFI hereby fully, completely and unconditionally releases and forever discharges any and or all claims, rights, demands, actions, of the obligations, liabilitiesthis agreement, and causes of action of any and every kind, which it, its successors or assigns ever had, or now have, or hereafter may have (based on events transpiring on or before the Effective Date) against EMPLOYEE, his heirs, personal representatives or assigns, in each case past or present, of whatsoever kind and nature, in law, equity or otherwise, arising out of or in any way connected with his employment, association or other involvement with UNIFI.
(C) EMPLOYEE ACKNOWLEDGES THAT HE HAS READ AND FULLY UNDERSTANDS THE PROVISIONS OF THIS AGREEMENT, HAS HAD SUFFICIENT TIME TO EVALUATE THE TERMS OF THIS AGREEMENT, HAS BEEN ADVISED TO CONSULT WITH COUNSEL BEFORE SIGNING THIS AGREEMENT, AND FREELY AND WITHOUT RESERVATIONS ENTERS INTO THIS AGREEMENT AND THE WAIVERS AND RELEASES CONTAINED HEREIN. EMPLOYEE hereby further acknowledges that in making this Agreement and Release that he understands that he is relying upon his own judgment, belief and knowledge all of the extent loan documents, and/or any direct or indirect action or omission of the Lenders. The Borrower further agrees that from and nature after the date hereof, it will not assert to any person or entity that any deterioration of said claims and payments the business operations or that financial condition of his own advisors and expressly the Borrower was caused by any breach or wrongful act of the Lenders which occurred prior to the date hereof. Borrower acknowledges and confirms agrees that he has not been influenced the Lenders have no further obligation to any extent whatsoever in making this Agreement and Release by any representations or statements regarding any payments, claims or conditions or regarding any other matters as made by any other person connected with or represented by any of extend credit pursuant to the Parties of this Purchase Agreement.
(D) The Parties hereto agree that this is a compromised settlement of a doubtful and disputed claim or right to act and the payment of the funds herein and the performance of this Agreement shall not be construed as an admission of liability or responsibility on the part of any of the Parties hereto other than expressly provided for herein. This Agreement shall be deemed to be strictly confidential by and between these Parties and by express agreement and understanding this Agreement shall not be deemed, referenced, cited or referred to by the Parties hereto or any other third parties relating to EMPLOYEE'S employment with UNIFI, nor shall this Agreement be used as evidence in any litigation between and among the Parties to this Agreement (or any other third parties) except to establish only between the Parties to this Agreement specifically the terms and conditions set forth therein. Further, the Parties hereby covenant and agree that upon the execution of this document and prior thereto that they have not nor will they in the future discuss with anyone the terms and conditions of this Agreement or anything pertaining to the terms and conditions of this Agreement, the negotiation of the terms and conditions of this Agreement, the settlement terms and conditions of this Agreement or the details of this Agreement, except as required by court order or with the written consent of all parties to this Agreement. Further, all Parties hereto agree that upon receipt of a subpoena or any formal legal request for information covered by or contained in this Agreement that they will as soon as practical notify one another in writing of such pending request to the persons at the addresses set forth herein and that the terms of this Agreement shall remain confidential and shall only be disclosed by any Party hereto as that Party is ordered to do so by a court of competent jurisdiction, or as required for the preparation of any state or federal tax return.
Appears in 1 contract
Samples: Loan Agreement (Firstgold Corp.)
Releases and Waivers. OF EACH PARTY - The parties hereto agree as follows:
(A) EMPLOYEE hereby 4.1 Following the issuance of the Order and Judgment and upon the Final Settlement Date, the Releasing Parties shall be deemed to have, and by operation of the Order and Judgment shall have, fully, completely and unconditionally releases finally, and forever discharges released, relinquished and discharged the Releasees of and from all Released Claims.
4.2 The Releasing Parties expressly agree that they shall not now or hereafter institute, maintain, assert, join, or participate in, either directly or indirectly, on their own behalf, on behalf of a class, or on behalf of any other person or entity, any action or proceeding of any kind against the Releasees asserting Released Claims.
4.3 With respect to any Released Claims under this Agreement, the Parties stipulate and agree that, upon the Final Settlement Date, the Releasing Parties shall be deemed to have, and by operation of the Order and Judgment SHALL HAVE EXPRESSLY WAIVED AND RELINQUISHED, TO THE FULLEST EXTENT PERMITTED BY LAW, THE PROVISIONS, RIGHTS, AND BENEFITS OF SECTION 1542 OF THE CALIFORNIA CIVIL CODE, which provides: The Releasing Parties shall upon the Final Settlement Date be deemed to have, and by operation of the Order and Judgment shall have, waived any and all claimsprovisions, rights, demandsor benefits conferred by any law of any state or territory of the United States, actionsor principle of common law, obligationswhich is similar, liabilitiescomparable, or equivalent to Section 1542 of the California Civil Code. The Releasing Parties may hereafter discover facts in addition to or different from those that they now know or believe to be true with respect to the subject matter of the Released Claims, but the Releasing Parties upon the Final Settlement Date, shall be deemed to have, and causes by operation of action of any the Order and every kind, which he or his heirs, personal representatives or assigns ever had, or now have, or hereafter may Judgment shall have (based on events transpiring on or before the Effective Date) against UNIFI, its subsidiaries and affiliates and their respective officers, directors, shareholders, representatives, counsel and agents, in each case past or present, of whatsoever kind and nature, in law, equity or otherwise, arising out of or in any way connected with his employment, association or other involvement or any type, nature and kind with UNIFI. THIS RELEASE AND WAIVER INCLUDES BUT IS NOT LIMITED TO CLAIMS ARISING UNDER FEDERAL, STATE OR LOCAL LAWS PROHIBITING EMPLOYMENT DISCRIMINATION (INCLUDING THE AGE DISCRIMINATION IN EMPLOYMENT ACT, TITLE VII OF THE CIVIL RIGHTS ACT OF 1964, AND THE AMERICAN WITH DISABILITIES ACT) OR CLAIMS GROWING OUT OF ANY LEGAL RESTRICTIONS ON THE COMPANY'S RIGHTS TO TERMINATE ITS EMPLOYEES.
(B) UNIFI hereby fully, completely and unconditionally releases finally, and forever discharges settled and released any and all claimsReleased Claims, rightsknown or unknown, demandssuspected or unsuspected, actionscontingent or noncontingent, obligationswhether or not concealed or hidden, liabilitieswhich now exist, and causes or heretofore have existed upon any theory of action law or equity now existing or coming into existence in the future, including, but not limited to, conduct relating to the Released Claims that is negligent, intentional, with or without malice, or any breach of any and every kindduty, which it, its successors or assigns ever hadlaw, or now have, rule without regard to subsequent discovery or hereafter may existence of such different or additional facts. The Parties expressly acknowledge and each other Releasing Party and Released Party by operation of law shall be deemed to have (based on events transpiring on or before acknowledged that the Effective Date) against EMPLOYEE, his heirs, personal representatives or assigns, in each case past or present, inclusion of whatsoever kind Unknown Claims among Released Claims was separately bargained for and nature, in law, equity or otherwise, arising out a material element of or in any way connected with his employment, association or other involvement with UNIFIthe Settlement.
(C) EMPLOYEE ACKNOWLEDGES THAT HE HAS READ AND FULLY UNDERSTANDS THE PROVISIONS OF THIS AGREEMENT, HAS HAD SUFFICIENT TIME TO EVALUATE THE TERMS OF THIS AGREEMENT, HAS BEEN ADVISED TO CONSULT WITH COUNSEL BEFORE SIGNING THIS AGREEMENT, AND FREELY AND WITHOUT RESERVATIONS ENTERS INTO THIS AGREEMENT AND THE WAIVERS AND RELEASES CONTAINED HEREIN. EMPLOYEE hereby further acknowledges that 4.4 Nothing in making this Agreement and Release that he understands that he is relying upon his own judgment, belief and knowledge of shall preclude any action to enforce the extent and nature of said claims and payments or that of his own advisors and expressly acknowledges and confirms that he has not been influenced to any extent whatsoever in making this Agreement and Release by any representations or statements regarding any payments, claims or conditions or regarding any other matters as made by any other person connected with or represented by any of the Parties terms of this Agreement.
(D) 4.5 The Parties hereto agree that this is a compromised settlement of a doubtful and disputed claim or right to act and the payment scope of the funds herein and Released Claims or Releasees shall not be impaired in any way by the performance failure of any Final Class Member to actually receive any portion of the benefits provided for under this Agreement.
4.6 Notwithstanding the foregoing, for purposes of clarification only, this Agreement shall not release Defendant from paying any future death benefits that may be construed as an admission of liability or responsibility on the part of any of the Parties hereto other than expressly provided for herein. This Agreement shall be deemed to be strictly confidential by and between these Parties and by express agreement and understanding this Agreement shall not be deemed, referenced, cited or referred to by the Parties hereto or any other third parties relating to EMPLOYEE'S employment with UNIFI, nor shall this Agreement be used as evidence in any litigation between and among the Parties to this Agreement (or any other third parties) except to establish only between the Parties to this Agreement specifically the terms and conditions set forth therein. Further, the Parties hereby covenant and agree that upon the execution of this document and prior thereto that they have not nor will they in the future discuss with anyone the terms and conditions of this Agreement or anything pertaining to the terms and conditions of this Agreement, the negotiation of the terms and conditions of this Agreement, the settlement terms and conditions of this Agreement or the details of this Agreement, except as required by court order or with the written consent of all parties to this Agreement. Further, all Parties hereto agree that upon receipt of a subpoena or any formal legal request for information covered by or contained in this Agreement that they will as soon as practical notify one another in writing of such pending request to the persons at the addresses set forth herein and that the terms of this Agreement shall remain confidential and shall only be disclosed by any Party hereto as that Party is ordered to do so by a court of competent jurisdiction, or as required for the preparation of any state or federal tax returnowed.
Appears in 1 contract
Releases and Waivers. OF EACH PARTY - The parties hereto agree Developer hereby waives any and all objections to or complaints regarding the Land and its condition, including, but not limited to, federal, state, or common law based actions and any private right of action under state and federal law to which the Land is or may be subject, including, but not limited to, CERCLA, RCRA, physical characteristics and existing conditions, including, without limitation, structural and geologic conditions, subsurface soil and water conditions, and solid and hazardous waste and Hazardous Materials on, under, adjacent to or otherwise affecting the Land, except for objections to and complaints relating to the existence or prior existence of any Hazardous Material in, on, above, or beneath the Land or emanating therefrom of which City had actual knowledge but failed to disclose to Developer as follows:
of the Close of Escrow (A“Undisclosed Conditions”). Developer further hereby assumes the risk of changes in applicable laws and regulations relating to past, present and future environmental conditions on the Land (excluding Undisclosed Conditions) EMPLOYEE and the risk that adverse physical characteristics and conditions, including, without limitation, the presence of Hazardous Materials or other contaminants (excluding Undisclosed Conditions), may not have been revealed by its investigations. Developer and anyone claiming by, through or under Developer also hereby fully, completely waives its right to recover from and unconditionally fully and irrevocably releases City and forever discharges City’s Representatives from any and all claims, rightsresponsibility and/or liability that it may now have or hereafter acquire against City or City’s Representatives for any costs, loss, liability, damage, expenses, demand, action or cause of action arising from or related to (a) the condition (including any defects, errors, omissions or other conditions, latent or otherwise, and the presence in the soil, air, structures and surface and subsurface waters of materials or substances that have been or may in the future be determined to be Hazardous Materials or otherwise toxic, hazardous, undesirable or subject to regulation and that may need to be specially treated, handled and/or removed from the Land under current or future federal, state and local laws regulations or guidelines, but excluding Undisclosed Conditions), valuation, salability or utility of the Land, or its suitability for any purpose whatsoever, and (b) any information furnished by City or City’s Representatives under or in connection with this Agreement. This release includes claims of which Developer is presently unaware or which Developer does not presently suspect to exist which, if known by Developer, would materially affect Developer’s release to City, except for claims based on City’s or City’s Representatives’ failure to disclose to Developer material facts known to City about the physical condition of the Property that are not known to Developer. To the extent applicable to the foregoing release, Developer specifically waives the provision of California Civil Code Section 1542, which provides as follows: “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR EXPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN TO HIM MUST HAVE MATERIALLY AFFECTED THE SETTLEMENT WITH THE DEBTOR.” In this connection and to the extent permitted by law, Xxxxxxxxx hereby agrees, represents and warrants that Xxxxxxxxx realizes and acknowledges that except for Undisclosed Conditions, factual matters now unknown to it may have given or may hereafter give rise to causes of action, claims, demands, actionsdebts, obligationscontroversies, liabilitiesdamages, costs, losses and expenses which are presently unknown, unanticipated and unsuspected, and Developer further agrees, represents and warrants that the waivers and releases herein have been negotiated and agreed upon in light of that realization and that Xxxxxxxxx nevertheless hereby intends to release, discharge and acquit City and City’s Representatives from any such unknown causes of action of any action, claims, demands, debts, controversies, damages, costs, losses and every kind, expenses which he or his heirs, personal representatives or assigns ever had, or now have, or hereafter may have (based on events transpiring on or before the Effective Date) against UNIFI, its subsidiaries and affiliates and their respective officers, directors, shareholders, representatives, counsel and agents, in each case past or present, of whatsoever kind and nature, in law, equity or otherwise, arising out of or might in any way connected with his employmentbe included as a material portion of the consideration given to City by Developer in exchange for City’s performance hereunder. Developer hereby agrees that, association or other involvement if at any time after the Close of Escrow any third party or any typegovernmental agency seeks to hold Developer responsible for the presence of, nature and kind with UNIFI. THIS RELEASE AND WAIVER INCLUDES BUT IS NOT LIMITED TO CLAIMS ARISING UNDER FEDERALor any loss, STATE OR LOCAL LAWS PROHIBITING EMPLOYMENT DISCRIMINATION (INCLUDING THE AGE DISCRIMINATION IN EMPLOYMENT ACTcost or damage associated with, TITLE VII OF THE CIVIL RIGHTS ACT OF 1964Hazardous Materials first existing in, AND THE AMERICAN WITH DISABILITIES ACT) OR CLAIMS GROWING OUT OF ANY LEGAL RESTRICTIONS ON THE COMPANY'S RIGHTS TO TERMINATE ITS EMPLOYEES.
(B) UNIFI hereby fullyon, completely and unconditionally releases and forever discharges above, or beneath the Land, or first emanating therefrom, after the Land is acquired by Developer, then Developer waives any and all claimsrights it may have against City in connection therewith, rightsincluding, demandswithout limitation, actions, obligations, liabilitiesunder CERCLA, and causes of Developer agrees that it shall not implead City, bring a contribution action of any and every kind, which it, its successors or assigns ever hadsimilar action against City, or now have, or hereafter may have (based on events transpiring on or before the Effective Date) against EMPLOYEE, his heirs, personal representatives or assigns, in each case past or present, of whatsoever kind and nature, in law, equity or otherwise, arising out of or attempt in any way connected to hold City responsible with his employment, association or other involvement with UNIFI.
(C) EMPLOYEE ACKNOWLEDGES THAT HE HAS READ AND FULLY UNDERSTANDS THE PROVISIONS OF THIS AGREEMENT, HAS HAD SUFFICIENT TIME TO EVALUATE THE TERMS OF THIS AGREEMENT, HAS BEEN ADVISED TO CONSULT WITH COUNSEL BEFORE SIGNING THIS AGREEMENT, AND FREELY AND WITHOUT RESERVATIONS ENTERS INTO THIS AGREEMENT AND THE WAIVERS AND RELEASES CONTAINED HEREIN. EMPLOYEE hereby further acknowledges that in making this Agreement and Release that he understands that he is relying upon his own judgment, belief and knowledge of the extent and nature of said claims and payments or that of his own advisors and expressly acknowledges and confirms that he has not been influenced respect to any extent whatsoever in making this Agreement and Release by any representations or statements regarding any payments, claims or conditions or regarding any other matters as made by any other person connected with or represented by any of the Parties of this Agreementsuch matter.
(D) The Parties hereto agree that this is a compromised settlement of a doubtful and disputed claim or right to act and the payment of the funds herein and the performance of this Agreement shall not be construed as an admission of liability or responsibility on the part of any of the Parties hereto other than expressly provided for herein. This Agreement shall be deemed to be strictly confidential by and between these Parties and by express agreement and understanding this Agreement shall not be deemed, referenced, cited or referred to by the Parties hereto or any other third parties relating to EMPLOYEE'S employment with UNIFI, nor shall this Agreement be used as evidence in any litigation between and among the Parties to this Agreement (or any other third parties) except to establish only between the Parties to this Agreement specifically the terms and conditions set forth therein. Further, the Parties hereby covenant and agree that upon the execution of this document and prior thereto that they have not nor will they in the future discuss with anyone the terms and conditions of this Agreement or anything pertaining to the terms and conditions of this Agreement, the negotiation of the terms and conditions of this Agreement, the settlement terms and conditions of this Agreement or the details of this Agreement, except as required by court order or with the written consent of all parties to this Agreement. Further, all Parties hereto agree that upon receipt of a subpoena or any formal legal request for information covered by or contained in this Agreement that they will as soon as practical notify one another in writing of such pending request to the persons at the addresses set forth herein and that the terms of this Agreement shall remain confidential and shall only be disclosed by any Party hereto as that Party is ordered to do so by a court of competent jurisdiction, or as required for the preparation of any state or federal tax return.
Appears in 1 contract
Releases and Waivers. OF EACH PARTY - The parties hereto agree as follows:
(A) A. EMPLOYEE hereby fully, completely and unconditionally releases and forever discharges any and all claims, rights, demands, actions, obligations, liabilities, and causes of action of any and every kind, which he or his heirs, personal representatives or assigns ever had, or now have, or hereafter may have (based on events transpiring on or before the Effective Date) against UNIFI, its subsidiaries and affiliates and their respective officers, directors, shareholders, representatives, counsel and agents, in each case past or present, of whatsoever kind and nature, in law, equity or otherwise, arising out of or in any way connected with his employment, association or other involvement or any type, nature and kind with UNIFI. THIS RELEASE AND WAIVER INCLUDES BUT IS NOT LIMITED TO CLAIMS ARISING UNDER FEDERAL, STATE OR LOCAL LAWS PROHIBITING EMPLOYMENT DISCRIMINATION (INCLUDING THE AGE DISCRIMINATION IN EMPLOYMENT ACT, TITLE VII OF THE CIVIL RIGHTS ACT OF 1964, AND THE AMERICAN WITH DISABILITIES ACT) OR CLAIMS GROWING OUT OF ANY LEGAL RESTRICTIONS ON THE COMPANY'S RIGHTS TO TERMINATE ITS EMPLOYEES.
(B) B. UNIFI hereby fully, completely and unconditionally releases and forever discharges any and all claims, rights, demands, actions, obligations, liabilities, and causes of action of any and every kind, which it, its successors or assigns ever had, or now have, or hereafter may have (based on events transpiring on or before the Effective Date) against EMPLOYEE, his heirs, personal representatives or assigns, in each case past or present, of whatsoever kind and nature, in law, equity or otherwise, arising out of or in any way connected with his employment, association or other involvement with UNIFI.
(C) C. EMPLOYEE ACKNOWLEDGES THAT HE HAS READ AND FULLY UNDERSTANDS THE PROVISIONS OF THIS AGREEMENT, HAS HAD SUFFICIENT SUFFICENT TIME TO EVALUATE THE TERMS OF THIS AGREEMENT, HAS BEEN ADVISED TO CONSULT WITH COUNSEL BEFORE SIGNING THIS AGREEMENT, AND FREELY AND WITHOUT RESERVATIONS ENTERS INTO THIS AGREEMENT AND THE WAIVERS AND RELEASES CONTAINED HEREIN. EMPLOYEE hereby further acknowledges that in making this Agreement and Release that he understands that he is relying upon his own judgment, belief and knowledge of the extent and nature of said claims and payments or that of his own advisors and expressly acknowledges and confirms that he has not been influenced to any extent whatsoever in making this Agreement and Release by any representations or statements regarding any payments, claims or conditions or regarding any other matters as made by any other person connected with or represented by any of the Parties of this Agreement.
(D) D. The Parties hereto agree that this is a compromised settlement of a doubtful and disputed claim or right to act and the payment of the funds herein and the performance of this Agreement shall not be construed as an admission of liability or responsibility on the part of any of the Parties hereto other than expressly provided for herein. This Agreement shall be deemed to be strictly confidential by and between these Parties and by express agreement and understanding this Agreement shall not be deemed, referenced, cited or referred to by the Parties hereto or any other third parties relating to EMPLOYEE'S employment with UNIFI, nor shall this Agreement be used as evidence in any litigation between and among the Parties to this Agreement (or any other third parties) except to establish only between the Parties to this Agreement specifically the terms and conditions set forth therein. Further, the Parties hereby covenant and agree that upon the execution of this document and prior thereto that they have not nor will they in the future discuss with anyone the terms and conditions of this Agreement or anything pertaining to the terms and conditions of this Agreement, the negotiation of the terms and conditions of this Agreement, the settlement terms and conditions of this Agreement or the details of this Agreement, except as required by court order or with the written consent of all parties to this Agreement. Further, all Parties hereto agree that upon receipt of a subpoena or any formal legal request for information covered by or contained in this Agreement that they will as soon as practical notify one another in writing of such pending request to the persons at the addresses set forth herein and that the terms of this Agreement shall remain confidential and shall only be disclosed by any Party hereto as that Party is ordered to do so by a court of competent jurisdiction, or as required for the preparation of any state or federal tax return.this
Appears in 1 contract
Samples: Severance Agreement (Unifi Inc)
Releases and Waivers. OF EACH PARTY - The parties hereto agree as follows:
Developer and anyone claiming by, through or under Developer hereby waives its right to recover from and fully and irrevocably releases WRSA, City and its council members, board members, employees, officers, directors, representatives, agents, servants, attorneys, successors and assigns (A“Released Parties”) EMPLOYEE hereby fully, completely and unconditionally releases and forever discharges from any and all claims, rightsresponsibility and/or liability that it may now have or hereafter acquire against any of the Released Parties for any costs, loss, liability, damage, expenses, demand, action or cause of action arising from or related to (i) the condition (including any defects, errors, omissions or other conditions, latent or otherwise, and the presence in the soil, air, structures and surface and subsurface waters of materials or substances that have been or may in the future be determined to be Hazardous Materials or otherwise toxic, hazardous, undesirable or subject to regulation and that may need to be specially treated, handled and/or removed from the Land under current or future federal, state and local laws regulations or guidelines), valuation, salability or utility of the Land, or its suitability for any purpose whatsoever, and (ii) any information furnished by the Released Parties under or in connection with this Agreement. This release includes claims of which Developer is presently unaware or which Developer does not presently suspect to exist which, if known by Developer, would materially affect Developer’s release to WRSA and City. Developer specifically waives the provision of California Civil Code Section 1542, which provides as follows: “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR EXPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN TO HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY” Developer Initials In this connection and to the extent permitted by law, Xxxxxxxxx hereby agrees, represents and warrants that Xxxxxxxxx realizes and acknowledges that factual matters now unknown to it may have given or may hereafter give rise to causes of action, claims, demands, actionsdebts, obligationscontroversies, liabilitiesdamages, costs, losses and expenses which are presently unknown, unanticipated and unsuspected, and Xxxxxxxxx further agrees, represents and warrants that the waivers and releases herein have been negotiated and agreed upon in light of that realization and that Developer nevertheless hereby intends to release, discharge and acquit Released Parties from any such unknown causes of action of any action, claims, demands, debts, controversies, damages, costs, losses and every kind, expenses which he or his heirs, personal representatives or assigns ever had, or now have, or hereafter may have (based on events transpiring on or before the Effective Date) against UNIFI, its subsidiaries and affiliates and their respective officers, directors, shareholders, representatives, counsel and agents, in each case past or present, of whatsoever kind and nature, in law, equity or otherwise, arising out of or might in any way connected with his employmentbe included as a material portion of the consideration given to WRSA by Developer in exchange for XXXX’s performance hereunder. Developer hereby agrees that, association or other involvement if at any time after the Close of Escrow any third party or any type, nature and kind with UNIFI. THIS RELEASE AND WAIVER INCLUDES BUT IS NOT LIMITED TO CLAIMS ARISING UNDER FEDERAL, STATE OR LOCAL LAWS PROHIBITING EMPLOYMENT DISCRIMINATION (INCLUDING THE AGE DISCRIMINATION IN EMPLOYMENT ACT, TITLE VII OF THE CIVIL RIGHTS ACT OF 1964, AND THE AMERICAN WITH DISABILITIES ACT) OR CLAIMS GROWING OUT OF ANY LEGAL RESTRICTIONS ON THE COMPANY'S RIGHTS TO TERMINATE ITS EMPLOYEES.
(B) UNIFI hereby fully, completely and unconditionally releases and forever discharges any and all claims, rights, demands, actions, obligations, liabilities, and causes of action of any and every kind, which it, its successors or assigns ever hadgovernmental agency seeks to hold Developer responsible for the presence of, or now haveany loss, cost or damage associated with, Hazardous Materials in, on, above or beneath the Land or emanating therefrom, then Developer waives any rights it may have against WRSA in connection therewith, including, without limitation, under CERCLA (as defined in Section 1.1.19 and Xxxxxxxxx agrees that it shall not (i) implead the WRSA, (ii) bring a contribution action or similar action against WRSA, or hereafter may have (based on events transpiring on or before the Effective Dateiii) against EMPLOYEE, his heirs, personal representatives or assigns, in each case past or present, of whatsoever kind and nature, in law, equity or otherwise, arising out of or attempt in any way connected to hold WRSA responsible with his employment, association or other involvement with UNIFI.
(C) EMPLOYEE ACKNOWLEDGES THAT HE HAS READ AND FULLY UNDERSTANDS THE PROVISIONS OF THIS AGREEMENT, HAS HAD SUFFICIENT TIME TO EVALUATE THE TERMS OF THIS AGREEMENT, HAS BEEN ADVISED TO CONSULT WITH COUNSEL BEFORE SIGNING THIS AGREEMENT, AND FREELY AND WITHOUT RESERVATIONS ENTERS INTO THIS AGREEMENT AND THE WAIVERS AND RELEASES CONTAINED HEREIN. EMPLOYEE hereby further acknowledges that in making this Agreement and Release that he understands that he is relying upon his own judgment, belief and knowledge of the extent and nature of said claims and payments or that of his own advisors and expressly acknowledges and confirms that he has not been influenced respect to any extent whatsoever in making this Agreement and Release by any representations or statements regarding any payments, claims or conditions or regarding any other matters as made by any other person connected with or represented by any of the Parties such matter. The provisions of this AgreementSection 2.7.3 shall survive the Close of Escrow. WRSA and Developer have each initialed this Section 2.7.3 to further indicate their awareness and acceptance of each and every provision hereof.
(D) The Parties hereto agree that this is a compromised settlement of a doubtful and disputed claim or right to act and the payment of the funds herein and the performance of this Agreement shall not be construed as an admission of liability or responsibility on the part of any of the Parties hereto other than expressly provided for herein. This Agreement shall be deemed to be strictly confidential by and between these Parties and by express agreement and understanding this Agreement shall not be deemed, referenced, cited or referred to by the Parties hereto or any other third parties relating to EMPLOYEE'S employment with UNIFI, nor shall this Agreement be used as evidence in any litigation between and among the Parties to this Agreement (or any other third parties) except to establish only between the Parties to this Agreement specifically the terms and conditions set forth therein. Further, the Parties hereby covenant and agree that upon the execution of this document and prior thereto that they have not nor will they in the future discuss with anyone the terms and conditions of this Agreement or anything pertaining to the terms and conditions of this Agreement, the negotiation of the terms and conditions of this Agreement, the settlement terms and conditions of this Agreement or the details of this Agreement, except as required by court order or with the written consent of all parties to this Agreement. Further, all Parties hereto agree that upon receipt of a subpoena or any formal legal request for information covered by or contained in this Agreement that they will as soon as practical notify one another in writing of such pending request to the persons at the addresses set forth herein and that the terms of this Agreement shall remain confidential and shall only be disclosed by any Party hereto as that Party is ordered to do so by a court of competent jurisdiction, or as required for the preparation of any state or federal tax return.
Appears in 1 contract