Common use of Mutual and General Release Clause in Contracts

Mutual and General Release. Provided that the Agreed Payment is timely delivered by Akorn to Neopharm, and except as otherwise set forth in this Agreement, Neopharm on the one hand and Akorn on the other hereby fully and forever release and discharge each other and their present and former officers, directors, shareholders, partners, affiliates, employees, agents, representatives, insurers, and attorneys, and predecessors, assignees, heirs, executors and successors of each of them, from all claims, actions, causes of action, demands, cross-claims, counterclaims, obligations, contracts, indemnity, contribution, suits, debts, sums, accounts, controversies, rights, damages, costs, attorney’s fees, losses, expenses, and liabilities whatsoever (contingent, accrued, mature, direct, derivative, subrogated, personal, assigned, discovered, undiscovered, inchoate, or otherwise) (hereafter “Claims”) which they may now have or have had as of the date of this Agreement or which may hereafter accrue, individually, collectively, or otherwise in connection with, relating to or arising out of the facts recited above, the Note, the Processing Agreement, or of any other event or occurrence having taken place on or before the date of this Agreement, whether currently known or unknown.