Common use of Settlement and discharge Clause in Contracts

Settlement and discharge. Subject to clause 7.5, the Trustee shall settle with the outgoing Servicer the amount of any sums payable by the outgoing Servicer to the Trustee or by the Trustee to the outgoing Servicer and shall give to or accept from the outgoing Servicer a discharge in respect of those sums which shall be conclusive and binding as between the Trustee, the outgoing Servicer, the new Servicer, the Manager, the Beneficiaries and the Noteholders.