Common use of Release of Assignor Clause in Contracts

Release of Assignor. Except for liabilities not expressly assumed by Assignee under Section 4 hereof, upon the date hereof, Assignor is released from all of its duties, obligations and liabilities under the Participation Agreement and the Trust Agreement and each other Operative Agreement to which Assignor is a party or by which Assignor is bound; PROVIDED, HOWEVER, that Assignor shall in no event be released from any such liability arising on account of any breach on or prior to the date hereof by Assignor of any of its representations, warranties, covenants or obligations set forth in the Participation Agreement or the Trust Agreement, or for any misconduct engaged in by it prior to the date hereof, or from any obligation that relates to any indemnity claimed by Assignor or any Lessor Lien arising from or attributable to Assignor.