the Assignor shall cease to have any rights, duties and liabilities under the contracts. the counterparty and the Assignor release each other from all liabilities, claims and demands whatsoever in respect of the contracts incurred before the effective date subject to the condition that all of the outstanding obligations due from the Assignor prior to the effective date have been fully discharged. For the avoidance of doubt, nothing herein shall be interpreted as releasing the counterparty or the Assignor from any right, duty and liability which has already been incurred or existed as a result of their actions under the contracts prior to the effective date