Common use of ACKNOWLEDGEMENTS BY AGENT Clause in Contracts

ACKNOWLEDGEMENTS BY AGENT. The Lenders hereby irrevocably authorize the Agent, at its option and in its discretion and without the necessity of any notice from the Agent to the Lenders, (a) to acknowledge that neither the Agent nor the Lenders have a Lien on any leased property of the Borrower or any other property in which the Borrower does not own any interest; (b) to (i) acknowledge a Purchase Money Lien that conforms to the criteria set forth on the definition of said term in Section 1.01 of this Financing Agreement and (ii) subordinate to any holder of such Purchase Money Lien any Lien on the Equipment subject thereto that the Agent and the Lenders have as long as the applicable Obligor owning such Equipment is indebted to such creditor; (iii) to release any Lien granted to or held by the Agent upon any Collateral: (A) upon termination of the Revolving Credit Commitments and this Financing Agreement and the payment and satisfaction of the Obligations; (B) constituting property sold or to be sold or disposed of as part of or in connection with any disposition permitted hereunder; (C) constituting property leased to the applicable Obligor under a lease which has expired or been terminated in a transaction permitted under this Financing Agreement or is about to expire and which has not been, and is not intended by the applicable Obligor to be, renewed or extended; (D) consisting of an instrument evidencing Indebtedness, which instrument has been pledged to the Agent for the ratable benefit of the Lenders, if the Indebtedness evidenced thereby has been paid in full; or (E) if approved, authorized or ratified in writing by all the Lenders. Upon request by the Agent at any time, the Lenders will confirm in writing the Agent's authority to release particular types or items of Collateral pursuant to this Section.

ACKNOWLEDGEMENTS BY AGENT. The Lenders hereby irrevocably authorize the Agent, at its option and in its discretion and without the necessity of any notice from the Agent to the Lenders, (a) to acknowledge that neither the Agent nor the Lenders have a Lien on any leased property of the Borrower or any other property in which the Borrower does not own any interest; (b) to (i) acknowledge a Purchase Money Lien that conforms to the criteria set forth on the definition of said term in Section 1.01 of this Financing Agreement and (ii) subordinate to any holder of such Purchase Money Lien any Lien on the Equipment subject thereto that the Agent and the Lenders have as long as the applicable Obligor Borrower owning such Equipment is indebted to such creditor; (iii) to release any Lien granted to or held by the Agent upon any Collateral: (A) upon termination of the Revolving Credit Commitments and this Financing Agreement and the payment and satisfaction of the Obligations; (B) constituting property sold or to be sold or disposed of as part of or in connection with any disposition permitted hereunder; (C) constituting property leased to the applicable Obligor Borrower under a lease which has expired or been terminated in a transaction permitted under this Financing Agreement or is about to expire and which has not been, and is not intended by the applicable Obligor Borrower to be, renewed or extended; (D) consisting of an instrument evidencing Indebtedness, which instrument has been pledged to the Agent for the ratable benefit of the Lenders, if the Indebtedness evidenced thereby has been paid in full; or (E) if approved, authorized or ratified in writing by all the Lenders. Upon request by the Agent at any time, the Lenders will confirm in writing the Agent's authority to release particular types or items of Collateral pursuant to this Section.

ACKNOWLEDGEMENTS BY AGENT. The Lenders hereby irrevocably authorize the Agent, at its option and in its discretion and without the necessity of any notice from the Agent to the Lenders, (a) to acknowledge that neither the Agent nor the Lenders have a Lien on any leased property of the any Borrower or any other property in which the no Borrower does not own owns any interest; (b) to (i) acknowledge a Purchase Money Lien that conforms to the criteria set forth on in the definition of said term in Section 1.01 of this Financing Agreement and (ii) subordinate to any holder of such Purchase Money Lien any Lien on the Equipment subject thereto that the Agent and the Lenders have as long as the applicable Obligor owning such Equipment is indebted to such creditor; and (iiic) to release any Lien granted to or held by the Agent upon any Collateral: (Ai) upon termination of the Revolving Credit Lender Loan Commitments and this Financing Agreement and the payment and satisfaction of the Obligations; (Bii) constituting property sold or to be sold or disposed of as part of or in connection with any disposition permitted hereunder; (Ciii) constituting property leased to the applicable Obligor under a lease which has expired or been terminated in a transaction permitted under this Financing Agreement or is about to expire and which has not been, and is not intended by the applicable Obligor to be, renewed or extended; (Div) consisting of an instrument evidencing Indebtedness, which instrument has been pledged to the Agent for the ratable benefit of the Lenders, if the Indebtedness evidenced thereby has been paid in full; or (Ev) if approved, authorized or ratified in writing by all the Lenders. Upon request by the Agent at any time, the Lenders will confirm in writing the Agent's ’s authority to release particular types or items of Collateral pursuant to this SectionSection 14.08.

ACKNOWLEDGEMENTS BY AGENT. The Lenders hereby irrevocably authorize the Agent, at its option and in its discretion and without the necessity of any notice from the Agent to the Lenders, (a) to acknowledge that neither the Agent nor the Lenders have a Lien on any leased property of the Borrower or any other property in which the Borrower does not own any interest; (b) to (i) acknowledge a Purchase Money Lien that conforms to the criteria set forth on the definition of said term in Section 1.01 of this Financing Agreement and (ii) subordinate to any holder of such Purchase Money Lien any Lien on the Equipment subject thereto that the Agent and the Lenders have as long as the applicable Obligor owning such Equipment is indebted to such creditor; (iii) to release any Lien granted to or held by the Agent upon any Collateral: (A) upon termination of the Revolving Credit Lender Loan Commitments and this Financing Agreement and the payment and satisfaction of the Obligations; (B) constituting property sold or to be sold or disposed of as part of or in connection with any disposition permitted hereunder; (C) constituting property leased to the applicable Obligor under a lease which has expired or been terminated in a transaction permitted under this Financing Agreement or is about to expire and which has not been, and is not intended by the applicable Obligor to be, renewed or extended; (D) consisting of an instrument evidencing Indebtedness, which instrument has been pledged to the Agent for the ratable benefit of the Lenders, if the Indebtedness evidenced thereby has been paid in full; or (E) if approved, authorized or ratified in writing by all the Lenders. Upon request by the Agent at any time, the Lenders will confirm in writing the Agent's authority to release particular types or items of Collateral pursuant to this SectionSection 14.08.