Can a Registry Operator release a domain name that it had reserved in accordance with the Registry Agreement for allocation or registration purposes at a later stage?

Yes, if a Registry Operator reserves a domain name from registration in accordance with the Registry Agreement and thereafter releases for allocation or registration the reserved domain name at any time prior to the start date of the Claims Period, the domain name must be treated like any other domain name for any applicable Sunrise Period, Limited Registration Period, Launch Program or Claims Period. However, if the domain name is released for allocation or registration at any time following the start date of the Claims Period, the domain name must be subject to the Claims Service for a period of 90 calendar days following the date it was released (even if the domain name is released following completion of the scheduled Claims Period), provided that this requirement will expire if the Trademark Clearinghouse (or any ICANN-designated successor) is no longer in operation.