Common use of Release of Certain Claims Clause in Contracts

Release of Certain Claims. The Company acknowledges and agrees as follows: (i) the amounts listed under the heading “Total Claims” on Schedule 5.10 are due and payable to Mr. Tick by the Company as of immediately prior to the Closing; (ii) the non-cash portion of the Loan Amount described in Exhibit B hereto shall by funded by Mr. Tick (on a dollar-for-dollar basis) through the release by Mr. Tick of certain claims in the amounts listed under the heading “Released Amounts” on Schedule 5.10, which shall reduce such “Total Claims” on a dollar-for-dollar basis in the amount of such released claims; and (iii) following the payment contemplated by Section 5.3(d) above, the amount of such “Total Claims” for Mr. Tick shall be further reduced on a dollar-for-dollar basis in the amount of such payment.

Release of Certain Claims. The Company acknowledges and agrees as follows: (i) the amounts listed under the heading “Total Claims” on Schedule 5.10 5.5 are due and payable to Mr. Tick by the Company as of immediately prior to the Closing; (ii) the non-cash portion of the Loan Amount described in Exhibit B hereto shall by funded by ▇▇. ▇▇▇▇▇▇ and Mr. Tick (on a dollar-for-dollar basis) through the release by ▇▇. ▇▇▇▇▇▇ and Mr. Tick of certain claims in the amounts listed under the heading “Released Amounts” on Schedule 5.105.5, which shall reduce such “Total Claims” on a dollar-for-dollar basis in the amount of such released claims; and (iii) following the payment contemplated by Section 5.3(d5.3(c) above, the amount of such “Total Claims” for Mr. Tick shall be further reduced on a dollar-for-dollar basis in the amount of such payment.