ACCURACY, COMPLETENESS
OR VALIDITY HEREOF. THE PROVISIONS OF THIS SECTION SHALL SURVIVE THE TERMINATION
OF THIS AGREEMENT, ANY LOAN DOCUMENT, AND PAYMENT IN FULL OF THE OBLIGATIONS
UNDER THE LOAN DOCUMENTS.
15. Release of Non-Debtor Loan Parties.
(a) Notwithstanding anything to the contrary contained in the Credit Agreement
or any other Loan Document, and subject to the satisfaction of the terms and
conditions set forth in Section 15(b), the Lenders party hereto hereby agree to
take (and direct the Administrative Agent and Collateral Agent to take) any and
all actions reasonably necessary, including the execution and delivery of a
written consent upon the request by the Borrower after the Forbearance Effective
Date, to (i) the release, discharge and termination of all obligations of the
Non-Debtor Loan Parties, as Guarantors, under the Loan Documents upon the Plan
Effective Date and (ii) the release, discharge and termination of all Liens on
and security interests in any and all assets and property of the Non-Debtor Loan
Parties under the Loan Documents upon the Plan Effective Date.
(b) The Non-Debtor Loan Parties hereby agree to take any and all actions
reasonably necessary to provide a release of the Releasees upon the release,
discharges and terminations described in Section 15(a) in form and substance
substantially similar to the releases provided by the Debtor Loan Parties in the
Plan.
16. Release of Maersk Releasees.
(a) THE LENDER PARTIES PARTY HERETO AGREE THAT MAERSK HIGHLANDER IS ENTERING
INTO THE TRANSACTION DOCUMENTS IN GOOD FAITH AND FOR VALUE AND IT IS HEREBY
EXPRESSLY AGREED AND DECLARED BY EACH OF THE LENDER PARTIES PARTY HERETO THAT
MAERSK HIGHLANDER SHALL NOT ASSUME ANY LIABILITY UNDER OR IN CONNECTION WITH
THIS AGREEMENT. FURTHER IN CONSIDERATION OF, AMONG OTHER THINGS, MAERSK
HIGHLANDER'S EXECUTION AND CONSUMMATION OF THE TRANSACTIONS CONTEMPLATED BY THIS
AGREEMENT AND EACH OF THE TRANSACTION DOCUMENTS, EACH OF THE LENDER PARTY
RELEASORS HEREBY FOREVER AGREES AND COVENANTS NOT TO SUE OR PROSECUTE,
VOLUNTARILY AID OR SUPPORT IN ANY WAY, OR CAUSE TO BE COMMENCED OR PROSECUTED
AGAINST MAERSK HIGHLANDER OR ANY OF ITS PARENT, PARENT'S SUBSIDIARIES, ASSIGNS,
TRANSFEREES AND EACH OF THEIR OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, ATTORNEYS
AND OTHER REPRESENTATIVES (IN EACH CASE, IN THEIR CAPACITY AS SUCH)
(COLLECTIVELY, THE "MAERSK RELEASEES") AND HEREBY FOREVER RELEASES AND
DISCHARGES, TO THE FULLEST EXTENT PERMITTED BY LAW, EACH MAERSK RELEASEE FROM
ANY AND ALL CLAIMS, RIGHTS AND DEMANDS THAT SUCH RELEASOR NOW HAS OR HEREAFTER
MAY HAVE, OF WHATEVER NATURE AND KIND, WHETHER KNOWN OR UNKNOWN, WHETHER NOW
EXISTING OR HEREAFTER ARISING, WHETHER ARISING AT LAW OR IN EQUITY, WHETHER IN
THIS JURISDICTION OR ANOTHER AGAINST THE MAERSK RELEASEES, BASED IN WHOLE OR IN
PART ON FACTS, WHETHER OR NOT NOW KNOWN, EXISTING ON OR BEFORE THE FORBEARANCE
EFFECTIVE DATE, THAT RELATE TO, ARISE OUT OF OR OTHERWISE ARE IN CONNECTION
WITH: (I) ANY OR ALL OF THE TRANSACTION DOCUMENTS OR TRANSACTIONS CONTEMPLATED
THEREBY OR ANY ACTIONS OR OMISSIONS IN CONNECTION THEREWITH, (II) ANY OR ALL OF
THE TERMINATIONS OR ANY ACTIONS