Common use of IT IS FURTHER UNDERSTOOD AND AGREED Clause in Contracts

IT IS FURTHER UNDERSTOOD AND AGREED. that for the consideration expressed herein the Releasor agrees not to make any claim or take any proceedings against any other person, firm or corporation who might claim contribution or indemnity from the Releasees or any of them. IT IS FURTHER UNDERSTOOD AND AGREED that this Release has been prepared by ▇’▇▇▇▇▇ Law Corporation acting on behalf of the Company only, and that the Releasor has been advised to obtain, and has had full opportunity to obtain, independent legal advice with respect to the subject matter hereof. IT IS FURTHER UNDERSTOOD AND AGREED that the failure of any of the Releasees to insist upon strict compliance with the provisions of this Release shall not be deemed a waiver of such provision or any other provision hereof. If any provision of this Release is determined to be so broad as to be unenforceable, and in the event that any provision is determined to be entirely unenforceable, such provision shall be deemed severable such that all other provisions of this Release shall remain valid and binding upon the Releasor and the Releasees. AND IT IS UNDERSTOOD AND AGREED that the terms of this release are contractual and not mere recitals.