RELEASE AGREEMENT

RELEASE AGREEMENT

Article 1: Parties
This Release Agreement (“Agreement”) is entered into between the following parties:

• Creditor:
  Name/Surname / Trade Name: …
  Address: …
  Telephone: …
  Turkish National Identity Number/Tax Number: …
• Debtor Released from Liability:
  Name/Surname / Trade Name: …
  Address: …
  Telephone: …
  Turkish National Identity Number/Tax Number: …

Article 2: Subject Matter of the Agreement
This Agreement governs the termination of the Releaser's claim against the Released Party, in whole or in part, and the principle that neither party shall have any rights, claims, or demands against the other.

Article 3: Debt and Receivable Subject to Release
3.1. The debt subject to release is the obligation arising from the debt relationship between the Released Party and the Releaser, dated … and numbered ….
3.2. The total amount of the debt is … TL, and … TL of the receivable is waived with this agreement.

Article 4: Release Statement
4.1. The Releaser declares that, by accepting the fully/partially waived amount of the claim specified in this Agreement, it releases the Released Party from said debt.
4.2. As a result of this release process, the parties agree and undertake that they will have no rights, claims or demands from each other.

Article 5: Payment and Mutual Obligations
5.1. The Released Party shall pay the Releaser … TL portion of the remaining debt under this Agreement by … date.
5.2. The Releaser agrees that upon this payment, the Released Party shall be fully released from the debt.

Article 6: Waiver and Transfer of Rights
6.1. The Releaser undertakes not to transfer any rights to third parties with respect to the debt released under this Agreement and not to make any claims against third parties.
6.2. The Released Party acknowledges that the Releaser reserves its rights with respect to any debt not covered by this release.

Article 7: Confidentiality
The parties agree and undertake that this Agreement and all information contained within the scope of this Agreement are confidential and will not be disclosed to third parties.

Article 8: Termination of the Agreement
8.1. This Agreement shall be terminated entirely upon the fulfillment of the mutually agreed obligations of the parties.
8.2. In the event of a breach of any provision of this Agreement, the party harmed by the breach may claim its rights through legal means.

Article 9: Resolution of Disputes
Any disputes arising between the Parties from this Agreement shall primarily be resolved through negotiation. If no agreement can be reached, the Courts and Enforcement Offices of … shall have jurisdiction.

Article 10: Miscellaneous Provisions
10.1. This Agreement may not be amended without the written consent of the parties.
10.2. If any provision of this Agreement is invalid, the validity of the remaining provisions shall not be affected.

Article 11: Entry into Force and Signatures
This Agreement has entered into force upon its signing by the parties on … date. This Agreement has been prepared in two copies, one copy given to the Releaser and the other copy to the Released Party.

Creditor (Granting Release):
Name/Surname / Trade Name: …
Date: …
Signature: …

Released Party (Debtor):
Name/Surname / Trade Name: …
Date: …
Signature: …