Releases Generally Sample Clauses
The "Releases Generally" clause serves to discharge one or more parties from liability for certain claims, obligations, or actions, typically arising from past events or the subject matter of the agreement. In practice, this clause may apply broadly to all known and unknown claims, and can cover a wide range of potential disputes, including those that may not have been anticipated at the time of signing. Its core function is to provide finality and certainty by preventing future legal actions related to the released matters, thereby reducing the risk of ongoing or future litigation between the parties.
Releases Generally. (a) Each Borrower and Guarantor understands, acknowledges and agrees that the releases set forth above in Sections 8.1 and 8.2 hereof may be pleaded as a full and complete defense and may be used as a basis for an injunction against any action, suit or other proceeding which may be instituted, prosecuted or attempted in breach of the provisions of such releases.
(b) Each Borrower and Guarantor agrees that no fact, event, circumstance, evidence or transaction which could now be asserted or which may hereafter be discovered shall affect in any manner the final and unconditional nature of the releases set forth in Section 8.1 hereof and, when made, Section 8.2 hereof.
Releases Generally. (a) Each Loan Party understands, acknowledges and agrees that the releases set forth above in Sections 8.1 and 8.2 hereof may be pleaded as a full and complete defense and may be used as a basis for an injunction against any action, suit or other proceeding which may be instituted, prosecuted or attempted in breach of the provisions of such releases.
(b) Each Loan Party agrees that no fact, event, circumstance, evidence or transaction which could now be asserted or which may hereafter be discovered shall affect in any manner the final and unconditional nature of the releases set forth in Section 8.1 hereof and, when made, Section 8.2 hereof.
Releases Generally. (a) Borrower and each Subsidiary Loan Party understands, acknowledges and agrees that the releases set forth above in Sections 10.1 and 10.2 hereof may be pleaded as a full and complete defense and may be used as a basis for an injunction against any action, suit or other proceeding which may be instituted, prosecuted or attempted in breach of the provisions of such releases.
(b) Borrower and each Subsidiary Loan Party agrees that no fact, event, circumstance, evidence or transaction which could now be asserted or which may hereafter be discovered shall affect in any manner the final and unconditional nature of the releases set forth in Section 10.1 hereof and, when made, Section 10.2 hereof.
Releases Generally. Notwithstanding paragraphs 1 and 2 above, (i) DFC's release set forth in paragraph 2 above shall not apply to any moneys due to DFC under any of the Program Documents and (ii) none of the releases set forth in paragraphs 1 and 2 above shall apply to (x) any breach following the Effective Date by any party of the agreements set forth herein or in any Program Document or (y) any breach following the Effective Date by any party of any Program Document or any agreement executed and delivered in connection with or pursuant to this Agreement.
Releases Generally. (a) Each Debtor, understands, acknowledges and agrees that the releases set forth above in Sections 8.1 and 8.2 may be pleaded as a full and complete defense and may be used as a basis for an injunction against any action, suit or other proceeding which may be instituted, prosecuted or attempted in breach of the provisions of such releases.
(b) Each Debtor, agrees that no fact, event, circumstance, evidence or transaction which could now be asserted or which may hereafter be discovered shall affect in any manner the final and unconditional nature of the releases set forth above in Sections 8.1 and 8.2.
Releases Generally. At such time as the Obligations shall have been paid in full and the Commitments under the Note Purchase Agreement and the Credit Agreement have been terminated, the Collateral shall be released from the Security Interest created hereby, and this Agreement and all obligations (other than those expressly stated to survive such termination) of the Security Trustee and each Grantor hereunder with respect to the Obligations and the Security Interest shall terminate, all without delivery of any instrument or performance of any act by any party, and all rights of the Security Trustee and the Secured Parties to the Collateral in connection with the Security Interest shall revert to the Grantors. At the request and sole expense of any Grantor following any such termination, the Security Trustee shall deliver to such Grantor any Collateral held by the Security Trustee hereunder, and execute and deliver to such Grantor such documents as such Grantor shall reasonably request to evidence such termination.
Releases Generally. The Borrower may request in writing that the Agent release, and upon receipt of such request the Agent shall release, any Person from any of the Guaranty and the Security Agreement so long as: (i) such Person qualifies, or will qualify simultaneously with its release from the Guaranty and the Security Agreement, as applicable, as an Excluded Subsidiary or has ceased to be, or simultaneously with its release from the Guaranty and the Security Agreement, as applicable, will cease to be a Subsidiary or a Joint Venture Subsidiary with at least $10,000 in assets in the aggregate; (ii) no Default or Event of Default shall then be in existence or would occur as a result of such release; (iii) such Person is not a party to any Derivatives Contract by virtue of which any other Person is a Derivatives Contracts Beneficiary; and (iv) the Agent shall have received such written request at least 5 Business Days prior to the requested date of release. Delivery by the Borrower to the Agent of any such request shall constitute a representation by the Borrower that the matters set forth in the preceding sentence (both as of the date of the giving of such request and as of the date of the effectiveness of such request) are true and correct with respect to such request.
Releases Generally. It is expressly understood that each Release shall, unless otherwise directed by the Administrative Agent (with the consent or at the direction of the Lenders), occur automatically on each day that the Master Servicer shall receive any Collections (including any Collections deposited in any Collection Account) without the requirement that any further action be taken on the part of any Person and notwithstanding the failure of Borrower to satisfy any of the foregoing conditions precedent in respect of such Release. The failure of Borrower to satisfy any of the foregoing conditions precedent in respect of any Release shall give rise to a right of the Administrative Agent, which right may be exercised at any time on demand of the Administrative Agent (with the consent or at the direction of the Lenders), to rescind the related Release and direct Borrower and the Master Servicer to pay to the Administrative Agent for the benefit of the Lenders an amount equal to the Collections prior to the Amortization Date that were applied to the affected Release.
Releases Generally. At such time as the Obligations shall have been paid and discharged in full (other than contingent obligations for which no claim has been made) and the Commitments under the Credit Agreement have been terminated, the Collateral and all other assets shall be released from the Security Interest created hereby and from the Liens of the Security Documents, and all obligations (other than those expressly stated to survive such termination) of the Security Trustee and each Grantor with respect to the Obligations and such Security Interest and Liens shall terminate, all without delivery of any instrument or performance of any act by any party, and all rights of the Security Trustee and the Secured Parties to the Collateral in connection with such Security Interest and other Liens shall revert to the Grantors. At the request and sole expense of any Grantor in connection with any such termination, the Security Trustee shall deliver to such Grantor any instruments or other documents held by the Security Trustee hereunder and execute and deliver to such Grantor such documents as such Grantor shall reasonably request to evidence such termination.
Releases Generally. Each Debtor, understands, acknowledges and agrees that the releases set forth above in Sections 7.1 and 7.2 may be pleaded as a full and complete defense and may be used as a basis for an injunction against any action, suit or other proceeding which may be instituted, prosecuted or attempted in breach of the provisions of such releases.