Common use of Additional Release Related Provisions Clause in Contracts

Additional Release Related Provisions. (a) Each of the Princeton Parties, severally but not jointly, represents and warrants, as of the date such Party executes and delivers this Agreement, as of the Effective Date and as of the Transition Date, to the Capital Point Parties that (i) it has duly executed and delivered this Agreement and this Agreement constitutes a valid, binding and legally enforceable obligation of such Party, except as such enforcement may be limited by applicable bankruptcy, insolvency, reorganization or other similar laws relating to or limiting creditors’ rights generally, (ii) the execution, delivery and performance of this Agreement by it does not violate any applicable law, rule or regulation or any agreement to which it is a party or by which any of its assets or properties are bound, (iii) it is the sole owner of the Claims it has released herein and such ownership is not subject to any lien, debt or encumbrance of any nature whatsoever and it has not assigned, transferred or conveyed, in whole or in part, any such Claim to any other person or entity, and (iv) neither it nor any of the other Princeton Group Releasing Parties, Princeton Individual Releasing Parties and Princeton Capital Releasing Parties, as applicable, has filed any Claims against any of the Capital Point Released Parties or Princeton Capital. (b) Each of the Capital Point Parties, severally but not jointly, represents and warrants, as of the date such Party executes and delivers this Agreement, as of the Effective Date and as of the Transition Date, to the Princeton Parties that (i) it has duly executed and delivered this Agreement and this Agreement constitutes a valid, binding and legally enforceable obligation of such Party, except as such enforcement may be limited by applicable bankruptcy, insolvency, reorganization or other similar laws relating to or limiting creditors’ rights generally, (ii) the execution, delivery and performance of this Agreement by it does not violate any applicable law, rule or regulation or any agreement to which it is a party or by which any of its assets or properties are bound, (iii) it is the sole owner of the Claims it has released herein and such ownership is not subject to any lien, debt or encumbrance of any nature whatsoever and it has not assigned, transferred or conveyed, in whole or in part, any such Claim to any other person or entity, and (iv) except for the Litigation, neither it nor any of the other Capital Point Releasing Parties has filed any Claims against any of the Independent Directors. (c) With respect to the Claims released in Section 3.1, each of the Parties, for itself and its other applicable Releasing Parties (as defined below), hereby expressly waives all rights under the provisions of Section 1542 of the Civil Code of the State of California and any similar rights in any other jurisdiction or under any similar statute or regulation of the United States or any other jurisdiction. Section 1542 of the California Civil Code reads as follows: “A general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor.”