Compromise or Release Sample Clauses
The Compromise or Release clause establishes the terms under which parties may settle disputes or release each other from certain claims or obligations. In practice, this clause typically allows the parties to negotiate and agree upon a settlement amount or terms, which, once accepted, prevents further legal action on the same issue. Its core function is to provide a clear mechanism for resolving conflicts efficiently and to ensure that once a matter is settled, it cannot be reopened, thereby offering finality and reducing ongoing legal risk.
Compromise or Release. The obligation of a Defaulting Member or its legal representative or successor to make a contribution or otherwise pay cash or transfer property or to return cash or property paid or distributed to the Defaulting Member in violation of the TBOC or this Agreement may be compromised or released only with the approval of the unanimous consent of the Managers. Notwithstanding the compromise or release, a creditor of the Company who extends credit or otherwise acts in reasonable reliance on that obligation, after the Member signs a writing that reflects the obligation and before the writing is amended or canceled to reflect the compromise or release, may enforce the original obligation.
Compromise or Release. The obligation of a Non-Contributing Member or Defaulting User Services Member or its legal representative or successor to make a contribution or otherwise pay cash or transfer property or to return cash or property paid or distributed to the Non- Contributing Member or Defaulting User Services Member in violation of the TBOC or this Agreement may be compromised or released only with the Ratification by a Simple Majority of the other Members.
Compromise or Release. The Chargee may, at any time and from time to time, at its option, compound, compromise or release any one or more Persons, including the Chargor, of all or any part of the Secured Obligations, or all or any part of the Charged Premises or any other mortgage, charge or security interest held by the Chargee in respect of the Secured Obligations, either with or without consideration therefor, without being accountable to any Person for the value thereof or any amount except the amount actually received by the Chargee and without releasing the Chargor from this Charge or from the performance of the covenants contained herein and no such compounding, compromise or release shall diminish the charges and security interests created hereby against the Charged Premises remaining unreleased or any other charges and security interests held by the Chargee.