Common use of Developer’s Releases Clause in Contracts

Developer’s Releases. Developer, on behalf of itself and its Agents, successors and assigns (collectively, “Developer Agents”), fully, unconditionally and irrevocably releases, discharges, and forever waives (collectively, “releases”) any and all claims, demands, rights, and causes of action (collectively, “claims”) against, and covenants not to ▇▇▇ or to pay the attorneys’ fees and other litigation costs of any Party to ▇▇▇, the SFMTA or City, or any of their respective Agents (collectively, “City Agents”), for Monetary Damages and Losses arising from, accruing from, or due to, directly or indirectly: (i) the facts or circumstances of or alleged in connection with the Project to the extent arising before the Effective Date; (ii) any failure by any Regulatory Agency to issue any necessary Regulatory Approval; and (iii) Developer’s or its Agents’ entry onto or activities conducted in, on or around the Site. Developer understands that if any facts concerning the claims released in this Agreement should be found to be other than or different from the facts now believed to be true, Developer expressly accepts and assumes the risk of the possible difference in facts and agrees that the release in this Agreement will remain effective. By placing its initials below, Developer specifically acknowledges and confirms the validity of the release made above and the fact that Developer was represented by or had the opportunity to consult with counsel, who explained the consequences of the above release at the time this Agreement was made. INITIALS: Developer: ________________

Developer’s Releases. (a) Developer, on behalf of itself and its Agents, successors and assigns (collectively, “Developer Agents”), fully, unconditionally and irrevocably releases, discharges, and forever waives (collectively, “releases”) any and all claims, demands, rights, and causes of action (collectively, “claims”) against, and covenants not to ▇▇▇ or to pay the attorneys’ fees and other litigation costs of any Party to ▇▇▇, the SFMTA SFPUC or City, or any of their respective Agents (collectively, “City Agents”), for Monetary Damages and Losses arising from, accruing from, or due to, directly or indirectly: (i) the facts or circumstances of or alleged in connection with the Project to the extent arising before the Effective Date; (ii) any failure by any Regulatory Agency to issue any necessary Regulatory Approval; and (iii) Developer’s or its Agents’ entry onto or activities conducted in, on or around the Site. . (b) Developer understands that if any facts concerning the claims released in this Agreement should be found to be other than or different from the facts now believed to be true, Developer expressly accepts and assumes the risk of the possible difference in facts and agrees that the release in this Agreement will remain effective. By placing its initials below, Developer specifically acknowledges and confirms the validity of the release made above and the fact that Developer was represented by or had the opportunity to consult with counsel, who explained the consequences of the above release at the time this Agreement was made. INITIALS: Developer: ________________,