Common use of Plaintiff’s Release Clause in Contracts

Plaintiff’s Release. Effective upon receipt of the Settlement Payment by KCC, (i) the Litigation Trust Plaintiff, including the Litigation Trustee, on behalf of themselves, the Tribune Debtors and the Tribune Debtors’ estates, (ii) the Note Holder Plaintiffs on behalf of themselves, and on behalf of the holders of Senior Notes or PHONES Notes for whom they act as Successor Indenture Trustee, (iii) the Retiree Plaintiffs on behalf of themselves, and (iv) each of their respective assigns, attorneys, insurers, beneficiaries, employees, officers, directors, shareholders, direct and indirect parents, subsidiaries, parties, affiliates, partners, legal and equitable owners, members, predecessors in interest, successors in interest, representatives, spouses, heirs, executors, and administrators solely in their capacity as such that the Litigation Trust Plaintiff, the Note Holder Plaintiffs, or the Retiree Plaintiffs have the ability to bind, hereby release and forever discharge Defendant, its respective predecessors, successors, heirs, executors, administrators, and assigns, all of their past and present, direct and indirect parents, subsidiaries, affiliates, shareholders, members, partners, legal and equitable owners, and all of their respective past and present attorneys, accountants, insurers, beneficiaries, employees, officers, directors, managers, trustees, and representatives, solely in their capacity as such (collectively the “Defendant Released Parties”) from any and all present, past, or future claims, demands, debts, losses, offsets, obligations, warranties, costs, expenses, rights of action, and causes of action of every kind and nature whatsoever, whether based on contract, tort, statutory, or other legal or equitable theory of recovery, whether known or unknown, suspected or unsuspected, existing, or claimed to exist, and whether arising in the past or future, seeking recovery of Defendant’s Shareholder Transfers, or seeking damages on account of or other relief specifically associated with Defendant’s Shareholder Transfers, including claims for a constructive trust, post-petition interest and/or prejudgment interest (collectively the “Plaintiffs’ Released Claims”). The foregoing release does not include, inter alia, the matters set forth in Paragraph 4.d or claims or rights arising out of or seeking to enforce this Agreement.