Automatic Release of Loan Collateral. The Lenders and LC Issuer hereby agree that Agent’s Liens in any property sold or disposed of in accordance with the provisions of Section 10.24 will, if no Event of Default then exists, be automatically released.
Appears in 3 contracts
Samples: Financing Agreement (Westaff Inc), Financing Agreement (CitiSteel PA, Inc.), Financing Agreement (CitiSteel PA, Inc.)
Automatic Release of Loan Collateral. The Lenders and LC Issuer hereby agree that Agent’s the Liens of Agent in any property sold or disposed of in accordance with the provisions of Section 10.24 will, if no Event of Default then exists, be automatically released.
Appears in 1 contract
Samples: Financing Agreement (Suntron Corp)
Automatic Release of Loan Collateral. The Lenders and LC Issuer hereby agree that the Liens granted to Agent’s Liens , for the benefit of the Agent and Lenders, in any property sold or disposed of in accordance with the provisions of Section 10.24 10.25(iii) will, if no Event of Default then exists, be automatically released.
Appears in 1 contract
