Common use of The Release Clause in Contracts

The Release. Except for Claims relating to the Excluded Obligations (which by definition are not included within the meaning of the released Claims), each of the Parties, for and on behalf of itself and, as applicable, each of its shareholders, partners or members, as the case may be, hereby and forever releases and discharges (each, a “Releasing Party”) each of the other Parties and each shareholder, officer, director, employee, Affiliate, successor and assign thereof (collectively, the “Released Parties”) from any and all Claims (the “Release”).