Converter Clutch Valve
WARNING: This page is about a different car, the 2008 GMC Sierra and 2008 Chevrolet Silverado. However, it is still accessible from the selected car via links, so may be relevant.
Held in the release position by spring force, it directs converter feed fluid into the release fluid circuit. Also, fluid returning from the converter in the apply fluid circuit is routed through the valve and into the cooler fluid circuit.