Common use of Waiver and Release by Buyer Clause in Contracts

Waiver and Release by Buyer. Except as otherwise expressly set forth in this Agreement, Buyer, for itself and any entity affiliated with Buyer, waives and releases Seller, the Seller Related Parties and their respective employees, agents, officers, trustees, directors and shareholders from and against any claims, demands, penalties, fines, liabilities, settlements, damages, costs or expenses of whatever kind or nature, known or unknown, existing and future, contingent or otherwise (including any action or proceeding, brought or threatened, or ordered by any appropriate governmental entity) made, incurred, or suffered by Buyer or any entity affiliated with Buyer relating to the presence, misuse, use, disposal, release or threatened release of any hazardous or toxic materials, chemicals or wastes at the Property and any liability or claim related to the Property arising under the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, the Superfund Amendments and Reauthorization Act of 1986, the Resource Conservation and Recovery Act, and the Toxic Substance Control Act, all as amended, or any other cause of action based on any other state, local, or federal environmental law, rule or regulation; provided, however, the foregoing waiver and release shall not apply to (i) the release by Seller of Hazardous Materials at or affecting the Property or violations by Seller of environmental laws to the extent affecting the Property or (ii) violations of environmental laws within the actual knowledge of Seller and not disclosed to Buyer prior to Closing. As used herein, “Hazardous Materials” shall mean substances which are designated, defined or classified as a hazardous substance, hazardous material or contaminant under applicable environmental laws currently in effect as of the Contract Date. Buyer acknowledges that unknown and unsuspected Hazardous Materials may hereafter be discovered on or about the Property, and Buyer knowingly releases Seller and the Seller Related Parties from any and all liability related thereto (except as expressly provided above). Buyer hereby agrees, represents and warrants that the matters released herein are not limited to matters which are known, disclosed, suspected or foreseeable. Seller’s Initials Buyer’s Initials The provisions of this Section 6.3 shall survive indefinitely any Closing or termination of this Agreement and shall not be merged into the Closing Documents.

Waiver and Release by Buyer. Except as otherwise expressly set forth in this Agreement, Buyer, for itself and any entity affiliated with Buyer, waives and releases Seller, the Seller Related Parties and their respective employees, agents, officers, trustees, directors and shareholders from and against any claims, demands, penalties, fines, liabilities, settlements, damages, costs or expenses of whatever kind or nature, known or unknown, existing and future, contingent or otherwise (including any action or proceeding, brought or threatened, or ordered by any appropriate governmental entity) made, incurred, or suffered by Buyer or any entity affiliated with Buyer relating to the presence, misuse, use, disposal, release or threatened release of any hazardous or toxic materials, chemicals or wastes at the Property and any liability or claim related to the Property arising under the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, the Superfund Amendments and Reauthorization Act of 1986, the Resource Conservation and Recovery Act, and the Toxic Substance Control Act, all as amended, or any other cause of action based on any other state, local, or federal environmental law, rule or regulation; provided, however, the foregoing waiver and release shall not apply to (i) the release by Seller of Hazardous Materials at or affecting the Property or violations by Seller of environmental laws to the extent affecting the Property or (ii) violations of environmental laws within the actual knowledge of Seller and not disclosed to Buyer prior to Closing. As used herein, “Hazardous Materials” shall mean substances which are designated, defined or classified as a hazardous substance, hazardous material or contaminant under applicable environmental laws currently in effect as of the Contract Date. Buyer acknowledges that unknown and unsuspected Hazardous Materials may hereafter be discovered on or about the Property, and Buyer knowingly releases Seller and the Seller Related Parties from any and all liability related thereto (except as expressly provided above). Buyer hereby agrees, represents and warrants that the matters released herein are not limited to matters which are known, disclosed, suspected or foreseeable. Seller’s Initials Buyer’s Initials The provisions of this Section 6.3 shall survive indefinitely any Closing or termination of this Agreement and shall not be merged into the Closing Documents.

Waiver and Release by Buyer. Except as otherwise expressly set forth in this AgreementBuyer hereby waives, Buyer, for itself releases and relinquishes any entity affiliated with Buyer, waives and releases Seller, all rights and remedies Buyer may now or hereafter have against the Seller Related Indemnified Parties and their respective employeesProperty, agents, officers, trustees, directors and shareholders from and against any claims, demands, penalties, fines, liabilities, settlements, damages, costs or expenses of whatever kind or nature, whether known or unknown, existing and futurewith respect to any past, contingent present or otherwise (including any action or proceeding, brought or threatened, or ordered by any appropriate governmental entity) made, incurred, or suffered by Buyer or any entity affiliated with Buyer relating to the future presence, misuse, use, disposal, release existence or threatened release of any hazardous or toxic materialswaste, chemicals or wastes at hazardous substances or materials of any kind or nature (“Hazardous Materials”) on, under or about the Property or surrounding land or with respect to any past, present or future violations of any federal, state, municipal or local rules, regulations, laws, orders or the common law, now or hereafter enacted, regulating or governing the use, handling, storage or disposal of Hazardous Materials or designed to protect human health or the environment (collectively, “Environmental Laws”) including, without limitation, any and any liability all rights Buyer may now or claim related hereafter have to seek contributions from the Indemnified Parties and Property arising under Section 113(f)(i) of the Comprehensive Environmental Response, Compensation, Response Compensation and Liability Act of 19801980 (“CERCLA”), as amended by the Superfund Amendments and Reauthorization Act of 19861986 (“XXXX”) (42 U.S.C. §9613), as the Resource Conservation and Recovery Act, and the Toxic Substance Control Act, all as amended, same may be further amended or replaced by any other cause of action based on any other state, local, or federal environmental similar law, rule or regulation; provided, however, the foregoing waiver and release shall not apply to (i) the release by Seller of Hazardous Materials at or affecting the Property or violations by Seller of environmental laws to the extent affecting the Property or (ii) violations of environmental laws within the actual knowledge of Seller and not disclosed to Buyer prior to Closing. As used herein, “Hazardous Materials” shall mean substances which are designated, defined or classified as a hazardous substance, hazardous material or contaminant under applicable environmental laws currently in effect as of the Contract Date. Buyer acknowledges that unknown hereby further releases the Indemnified Parties and unsuspected Hazardous Materials may hereafter be discovered on or about the Property, and Buyer knowingly releases Seller and the Seller Related Parties Property from any and all liability related thereto whether known or unknown now or hereafter existing with respect to the Property under Section 107 of CERCLA (except as expressly provided above42 U.S.C. §9607). Buyer hereby releases Seller from such claims heretofore and hereafter arising, whether now known or unknown by Buyer. In this connection and to the extent permitted by law, Buyer hereby agrees, represents and warrants that the Buyer realizes and acknowledges that factual matters released herein are not limited now unknown to matters it may have given or may hereafter give rise to claims, debts and controversies, which are knownpresently unknown, disclosedunanticipated and unsuspected, suspected and Buyer further agrees, represents and warrants that the waivers and releases herein have been negotiated and agreed upon in light of that realization and that Buyer nevertheless hereby intends to release, discharge and acquit Seller and the other Indemnified Parties from any such unknown claims, debts and controversies. Seller makes no representation and warranty regarding whether the Property is located in a flood zone or foreseeablewhether the Property is subject to flood risks. Seller’s Initials Buyer’s Initials Buyer specifically acknowledges that the Federal Emergency Management Agency (“FEMA”) in conjunction with Xxxxxx County, is developing new FEMA Flood Insurance Rate Maps and that flood plain boundaries in Xxxxxx County are subject to revisions and change. Seller has given Buyer material concessions regarding this transaction in exchange for Buyer agreeing to the provisions of this Section 12. Seller and Buyer have each initialed this Section 12 to further indicate their awareness and acceptance of each and every provision hereof. The provisions of this Section 6.3 12 shall survive indefinitely any the Closing or termination of this Agreement and shall not be deemed merged into any instrument or conveyance delivered at the Closing Documents.Closing. BUYER’S INITIALS: SELLER’S INITIALS: