Extracting String between given token

I want to extract string between given token from a file, in my case it is between %. I have highlighted the strings in Bold below.

Content:

Update DIMENSIONPARAMETER set TEXTVALUE='http://%arm.se.host%:%arm.se.wls.listen.port%/CramerOSS/SyncEngineServlet/SyncProcessUnPauseServlet' where NAME='SyncEngine SyncProcessUnPauseServlet';

It also has input where simply %somestring% is present.I want to extract that string only.