Collateral Release Provisions Sample Clauses

Collateral Release Provisions. 4.2.1 Any El Paso Pledgor may request from time to time that the Collateral Agent release, reduce or surrender Collateral, including any Letters of Credit, if after giving effect to such request and the pledge of any additional Collateral on such date, the Value of all Collateral exceeds the Minimum Collateral Coverage and, if a Monetization has been effected, following such release, the ratio of the aggregate stated amount of Letters of Credit divided by the Discounted Amount of the Deferred Payments shall be the same or greater than such ratio immediately prior thereto. Such request shall be made pursuant to a certificate ("Release Certificate") in form and substance substantially similar to the instrument attached hereto as Exhibit B-1. The Value of the Collateral to be released, reduced or surrendered shall not exceed the difference between (a) the aggregate Value of all Collateral immediately prior to the date of such release, reduction or surrender and after giving effect to the pledge of any additional Collateral on such date, and (b) the Value of Collateral required to maintain the Minimum Collateral Coverage. The Release Certificate shall be accompanied by execution counterparts of the instruments to be executed by the Collateral Agent (which instruments shall be reasonably satisfactory to the Collateral Agent) to effect such release, reduction or surrender, and if a Monetization has been effected, written certification addressed to the Collateral Agent, executed by a Responsible Officer of El Paso Corporation, stating that following such release, the ratio of the aggregate stated amount of Letters of Credit divided by the Discounted Amount of the Deferred Payments will be the same or greater than such ratio immediately prior thereto. Promptly (and in any event within ten (10) Business Days) after the Collateral Agent's receipt of the Release Certificate, the Collateral Agent shall execute and deliver to such El Paso Pledgor, at such El Paso Pledgor's sole cost and expense, all such instruments and take all such other actions as reasonably requested by such El Paso Pledgor to effect the release of any liens or security interests held by the Collateral Agent on such Collateral and the surrender or reduction, as specifically requested, of the applicable Letters of Credit; provided, however, that if any additional Collateral is required to be given by the El Paso Settling Parties to maintain the Minimum Collateral Coverage (after giving effect to the...
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Collateral Release Provisions. If the Borrower seeks to obtain the release of a Borrowing Base Hotel, the Borrower shall provide to the Agent and the Banks a replacement Borrowing Base Value Certificate reflecting the deletion of such hotel from the calculations of the Borrowing Base Value, as previously described in Section 2.01(b). The Agent shall not release such hotel until the Agent (i) has reviewed and approved such Borrowing Base Value Certificate and (ii) has determined that the principal balance outstanding under the Loans shall not exceed the Maximum Advance after giving effect to the release. The Borrower may obtain a release of any Borrowing Base Hotel or Borrowing Base Hotels, provided (x) a Borrowing Base Hotel Release Entitlement Event has occurred, (y) provided there is no existing Default hereunder and the release of such Hotel would not cause a Default or an Event of Default to occur; and also (z) provided that one of the following conditions, as selected by the Borrower, in its sole discretion, is satisfied:
Collateral Release Provisions. SECTION 9.1. Partial
Collateral Release Provisions 

Related to Collateral Release Provisions

  • Collateral Releases The Lenders hereby empower and authorize the Agent to execute and deliver to the Borrower on their behalf any agreements, documents or instruments as shall be necessary or appropriate to effect any releases of Collateral which shall be permitted by the terms hereof or of any other Loan Document or which shall otherwise have been approved by the Required Lenders (or, if required by the terms of Section 8.2, all of the Lenders) in writing.

  • Partial Release of Collateral Lender hereby releases the following collateral:

  • Continuing Security Interest; Assignments Under the Credit Agreement; Release (a) This Security Agreement shall remain in full force and effect and be binding in accordance with and to the extent of its terms upon each Grantor and the successors and assigns thereof and shall inure to the benefit of the Collateral Agent and the other Secured Parties and their respective successors, indorsees, transferees and assigns until all Obligations under the Credit Documents and each Pari Passu Agreement (other than, in each case, any contingent indemnity obligations not then due, any Secured Hedge Obligations or any Secured Cash Management Obligations) shall have been satisfied by payment in full, the Commitments shall be terminated and all Letters of Credit have expired or terminated and after all Letter of Credit Outstandings have been reduced to zero (or all such Letters of Credit and Letter of Credit Outstandings have been Cash Collateralized) notwithstanding that from time to time during the term of the Credit Agreement, the Credit Parties may be free from any Obligations.

  • Amendments, Waivers and Release of Collateral Neither this Agreement, nor any of the Notes, nor any of the other Credit Documents, nor any terms hereof or thereof may be amended, supplemented, waived or modified except in accordance with the provisions of this Section nor may be released except as specifically provided herein or in the Security Documents or in accordance with the provisions of this Section 9.1. The Required Lenders may, or, with the written consent of the Required Lenders, the Administrative Agent may, from time to time, (a) enter into with the Borrower written amendments, supplements or modifications hereto and to the other Credit Documents for the purpose of adding any provisions to this Agreement or the other Credit Documents or changing in any manner the rights of the Lenders or of the Borrower hereunder or thereunder or (b) waive, on such terms and conditions as the Required Lenders may specify in such instrument, any of the requirements of this Agreement or the other Credit Documents or any Default or Event of Default and its consequences; provided, however, that no such waiver and no such amendment, waiver, supplement, modification or release shall:

  • Fundamental Lease Provisions The provisions in this Article shall be referred to in this Lease as the "Fundamental Lease Provisions."

  • BASIC LEASE PROVISIONS Each reference in this Lease to the “

  • General Releases The General Releases referred to in Section 5.3, duly executed by the persons referred to in such Section.

  • Extension, Release, etc (a) Without affecting the lien or charge of this Mortgage upon any portion of the Mortgaged Property not then or theretofore released as security for the full amount of the Obligations, Mortgagee may, from time to time and without notice, agree to (i) release any person liable for the Obligations, (ii) extend the maturity or alter any of the terms of the Obligations or any guaranty thereof, (iii) grant other indulgences, (iv) release or reconvey, or cause to be released or reconveyed at any time at Mortgagee's option any parcel, portion or all of the Mortgaged Property, (v) take or release any other or additional security for any obligation herein mentioned, or (vi) make compositions or other arrangements with debtors in relation thereto. If at any time this Mortgage shall secure less than all of the principal amount of the Obligations, it is expressly agreed that any repayments of the principal amount of the Obligations shall not reduce the amount of the lien of this Mortgage until the lien amount shall equal the principal amount of the Obligations outstanding.

  • General Release of Claims Employee knowingly and voluntarily releases and forever discharges the Company from any and all claims, rights, causes of action, demands, fees costs, expenses, including attorneys’ fees, and liabilities of any kind whatsoever, whether known or unknown, against the Company, that Employee has, has ever had or may have as of the date of execution of this Agreement and General Release, including, but not limited to, any alleged violation of: ● The Age Discrimination in Employment Act of 1967, as amended; ● The Older Workers Benefit Protection Act of 1990; ● The National Labor Relations Act, as amended; ● Title VII of the Civil Rights Act of 1964, as amended; ● The Civil Rights Act of 1991; ● Sections 1981 through 1988 of Title 42 of the United States Code, as amended; ● The Employee Retirement Income Security Act of 1974, as amended; ● The Immigration Reform and Control Act, as amended; ● The Americans with Disabilities Act of 1990, as amended; ● The Worker Adjustment and Retraining Notification Act, as amended; ● The Occupational Safety and Health Act, as amended; ● The Family and Medical Leave Act of 1993; ● All other federal, state or local civil or human rights laws, whistleblower laws, or any other local, state or federal law, regulations and ordinances; ● All public policy, contract, tort, or common laws; and ● All allegations for costs, fees, and other expenses including attorneys’ fees incurred in these matters. Notwithstanding anything herein to the contrary, the sole matters to which the Agreement and General Release do not apply are: (i) Employee’s rights of indemnification and directors and officers liability insurance coverage to which the Executive was entitled immediately prior to __________ __, 20__ with regard to the Executive’s service as an officer and director of the Company (including, without limitation, under Article 15 of the Severance Agreement); (ii) Employee’s rights under any tax-qualified pension plan or claims for accrued vested benefits under any other employee benefit plan, policy or arrangement maintained by the Company or under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended; (iii) Employee’s rights under Article 7 or Article 11 of the Severance Agreement, as the case may be; and (iv) Employee’s rights as a stockholder of the Company.

  • Separation Agreement and General Release The Company’s obligation to make the Severance Payment or to pay the Salary Continuation is conditioned on Executive’s or his legal representative’s executing a separation agreement and general release of claims related to or arising from Executive’s employment with the Company or the termination of employment, against the Company and its affiliates (and their respective officers and directors) in a form reasonably determined by the Company, which shall be provided by the Company to Executive within five (5) days following the Date of Termination; provided, that, if Executive should fail to execute (or revokes) such release within 60 days following the Date of Termination, the Company shall not have any obligation to provide the Severance Payment or the Salary Continuation. If Executive executes the release within such 60 day period and does not revoke the release within seven (7) days following the execution of the release, the Severance Payment will be made in accordance with Section 4(a)(ii) or the Salary Continuation shall commence at such time, as applicable.

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