Common use of Authority to Release Collateral and Liens Clause in Contracts

Authority to Release Collateral and Liens. Each Lender and each Issuing Bank hereby authorizes the Administrative Agent to release any collateral that is permitted to be sold or released pursuant to the terms of the Loan Documents. Each Lender and each Issuing Bank hereby authorizes the Administrative Agent to execute and deliver to the Borrower, at the Borrower’s sole cost and expense, any and all releases of Liens, termination statements, assignments or other documents reasonably requested by the Borrower in connection with any sale or other disposition of Property to the extent such sale or other disposition is permitted by the terms of Section 9.11 or is otherwise authorized by the terms of the Loan Documents.

Appears in 2 contracts

Samples: Credit Agreement (Black Elk Energy Finance Corp.), Letter of Credit Facility Agreement (Black Elk Energy Finance Corp.)

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Authority to Release Collateral and Liens. Each Lender and each Issuing Bank hereby authorizes the Administrative Agent to release any collateral that is permitted to be sold or released pursuant to the terms of the Loan Documents. Each Lender and each Issuing Bank hereby authorizes the Administrative Agent to execute and deliver to the BorrowerBorrowers (or Borrower Representative), at the Borrower’s Borrowers’ sole cost and expense, any and all releases of Liens, termination statements, assignments or other documents reasonably requested by the Borrower Borrowers in connection with any sale or other disposition of Property to the extent such sale or other disposition is permitted by the terms of Section 9.11 9.12 or is otherwise authorized by the terms of the Loan Documents.

Appears in 2 contracts

Samples: Credit Agreement (Chaparral Energy, Inc.), Credit Agreement (Chaparral Energy, Inc.)

Authority to Release Collateral and Liens. Each Lender Bank and each Issuing Bank hereby authorizes the Administrative Agent to release any collateral that is permitted to be sold or released pursuant to the terms of the Loan Documents. Each Lender Bank and each Issuing Bank hereby authorizes the Administrative Agent to execute and deliver to the Borrower, at the Borrower’s 's sole cost and expense, any and all releases of Liens, termination statements, assignments or other documents reasonably requested by the Borrower in connection with any sale or other disposition of Property to the extent such sale or other disposition is permitted by the terms of Section 9.11 8.02 or is otherwise authorized by the terms of the Loan Documents.

Appears in 2 contracts

Samples: Credit Agreement (Stroud Energy Inc), Credit Agreement (Stroud Energy Inc)

Authority to Release Collateral and Liens. Each Lender and each Issuing Bank hereby authorizes the Administrative Agent to release any collateral that is permitted to be sold or released pursuant to the terms of the Loan Documents. Each Lender and each Issuing Bank hereby authorizes the Administrative Agent to execute and deliver to the Borrower, at the Borrower’s sole cost and expense, any and all releases of Liens, termination statements, assignments or other documents reasonably requested by the Borrower in connection with any sale or other disposition of Property to the extent such sale or other disposition is permitted by the terms of Section ‎Section 9.11 or is otherwise authorized by the terms of the Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Magnum Hunter Resources Corp)

Authority to Release Collateral and Liens. Each Lender and each Issuing Bank hereby authorizes the Administrative Agent to release any collateral that is permitted to be sold or released pursuant to the terms of the Loan Documents. Each Lender and each Issuing Bank hereby authorizes the Administrative Agent to execute and deliver to the BorrowerBorrowers, at the Borrower’s Borrowers' sole cost and expense, any and all releases of Liens, termination statements, assignments or other documents reasonably requested by the Borrower Borrowers in connection with any sale or other disposition of Property to the extent such sale or other disposition is permitted by the terms of Section 9.11 9.12 or is otherwise authorized by the terms of the Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Ellora Energy Inc)

Authority to Release Collateral and Liens. Each Lender and each the Issuing Bank hereby authorizes the Administrative Agent to release any collateral that is permitted to be sold or released pursuant to the terms of the Loan Documents. Each Lender and each the Issuing Bank hereby authorizes the Administrative Agent to execute and deliver to the BorrowerBorrowers, at the Borrower’s Borrowers’ sole cost and expense, any and all releases of Liens, termination statements, assignments or other documents reasonably requested by the Borrower Borrowers in connection with any sale or other disposition of Property to the extent such sale or other disposition is permitted by the terms of Section 9.11 or is otherwise authorized by the terms of the Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Sanchez Energy Corp)

Authority to Release Collateral and Liens. Each Lender and each the Issuing Bank hereby authorizes the Administrative Agent to release any collateral Collateral that is permitted to be sold or released pursuant to the terms of the Loan Documents. Each Lender and each the Issuing Bank hereby authorizes the Administrative Agent to execute and deliver to the BorrowerBorrowers, at the Borrower’s Borrowers’ sole cost and expense, any and all releases of Liens, termination statements, assignments or other documents reasonably requested by the Borrower Borrowers in connection with any sale or other disposition of Property to the extent such sale or other disposition is permitted by the terms of Section 9.11 or is otherwise authorized by the terms of the Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Sanchez Energy Corp)

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Authority to Release Collateral and Liens. Each Lender and each Issuing Bank hereby authorizes the Administrative Agent to release any collateral that is permitted to be sold or released pursuant to the terms of the Loan Documents. Each Lender and each Issuing Bank hereby authorizes the Administrative Agent to execute and deliver to the Borrower, at the Borrower’s sole cost and expense, any and all releases of Liens, termination statements, assignments or other documents reasonably requested by the Borrower in connection with any sale or other disposition of Property to the extent such sale or other disposition is permitted by the terms of Section 9.11 or is otherwise authorized by the terms of the Loan Documents.

Appears in 1 contract

Samples: Second Lien Term Loan Credit Agreement (Magnum Hunter Resources Corp)

Authority to Release Collateral and Liens. Each Lender and each the Issuing Bank hereby authorizes the Administrative Agent to release any collateral Collateral that is permitted to be sold or released pursuant to the terms of the Loan Documents. Each Lender and each the Issuing Bank hereby authorizes the Administrative Agent to execute and deliver to the Borrower, at the Borrower’s sole cost and expense, any and all releases of Liens, termination statements, assignments or other documents reasonably requested by the Borrower in connection with any sale or other disposition of Property to the extent such sale or other disposition is permitted by the terms of Section 9.11 or is otherwise authorized by the terms of the Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Sanchez Energy Corp)

Authority to Release Collateral and Liens. Each Lender and each Issuing Bank hereby authorizes the Administrative Agent to release any collateral that is permitted to be sold or released pursuant to the terms of the Intercreditor Agreement and the other Loan Documents. Each Lender and each Issuing Bank hereby authorizes the Administrative Agent to execute and deliver to the BorrowerBorrowers, at the Borrower’s Borrowers’ sole cost and expense, any and all releases of Liens, termination statements, assignments or other documents reasonably requested by the Borrower Borrowers in connection with any sale or other disposition of Property to the extent such sale or other disposition is permitted by the terms of Section 9.11 or is otherwise authorized by the terms of the Loan Documents.

Appears in 1 contract

Samples: Second Lien Term Credit Agreement (Sanchez Energy Corp)

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