Conditions to Release of Collateral Sample Clauses

Conditions to Release of Collateral. (a) Subject to Sections 8.1(d) and 8.2, the Collateral Agent shall release its Security Interest in all of the Collateral on the date which is three Business Days after the date on which (i) the Collateral Agent shall have received written instructions from each Representative instructing the Collateral Agent to release its Security Interest in all of the Collateral, and (ii) accrued and unpaid Collateral Agent's Fees shall have been paid in full. (b) Subject to Sections 8.1(d) and 8.2, the Collateral Agent shall release its Security Interest in specific items or portions of the Collateral on the date which is no later than three Business Days after the date on which the Collateral Agent shall have received written instructions from each Representative instructing the Collateral Agent to release its Security Interest in specific items or portions of the Collateral.
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Conditions to Release of Collateral. (a) Subject to this Section 7.1(a) and Section 7.2, the Collateral Agent shall release its security interest in all of the Collateral on the earliest of: (i) such date as is reasonably practicable after the date on which the Collateral Agent shall have received written notice from the Borrower to the effect that (A) all the Priority Obligations shall have been paid in full in cash and the unfunded commitments, if any, of each Beneficiary thereof shall have been terminated with one or more of the following: (x) the proceeds of unsecured indebtedness (including any Refinancing (as defined in the Senior Note Indentures) of the Priority Obligations) of the Borrower or any of its Subsidiaries permitted under the Senior Note Indentures, (y) the proceeds of secured indebtedness (including any Refinancing (as defined in the Senior Note Indentures) of the Priority Obligations) permitted under the Senior Note Indentures, provided that the Senior Note Obligations shall be secured by the same collateral as shall secure such secured indebtedness on terms and conditions, including priority, no more onerous to the Beneficiaries of the Senior Note Obligations than those contained in the Security Agreement and this Agreement or (z) cash on hand of the Borrower and its Subsidiaries that is not prohibited by the terms of the Senior Note Indentures from being applied to the repayment of the Priority Obligations, and (B) accrued and unpaid Collateral Agent's Fees shall have been paid in full; provided that the Collateral Agent shall not release its security interest in the Collateral if (I) the repayment of the Priority Obligations was not the permitted under the Senior Note Indentures, (II) an event of default under the Senior Note Indentures, the 1999 Credit Agreement or the 2000 Credit Agreement shall exist at the time of such repayment (including if BMCA is the subject of any bankruptcy proceedings) or (III) the cash for such repayment was obtained through the concurrent sale of assets of BMCA or its Subsidiaries; or (ii) the date on which (A) all the Secured Debt shall have been paid in full in cash and the unfunded commitments, if any, of each Beneficiary shall have been terminated and (B) accrued and unpaid Collateral Agent's Fees shall have been paid in full; or (iii) the date which is 3 days after the date on which (A) the Collateral Agent shall have received written instructions from all Lender Representatives instructing the Collateral Agent to release its security ...
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Conditions to Release of Collateral. (a) The Borrower shall be ----------------------------------- entitled to the release of the Agent's security interest in the Receivables in an Acquired Eligible Portfolio and all the Related Collateral upon satisfaction of the following conditions precedent: (i) The Agent shall have received from the Borrower the certificate of a Responsible Officer specifying that all, or any portion of, the Acquired Eligible Portfolio which is the subject of the release will be sold and transferred by the Borrower in connection with a Securitized Offering; (ii) No Default or Event of Default shall have occurred and be continuing on the date of such release or after giving effect to the release requested to be made on such date; and (iii) The Borrower shall prepay the outstanding principal balance of the Borrowing made with respect to such Acquired Eligible Portfolio. (b) The Borrower shall be entitled to a release of the Agent's security interest in (i) Receivables other than those in an Acquired Eligible Portfolio (and the Related Collateral) upon their sale by the Borrower to a Special Purpose Entity, and (ii) all other Collateral upon its sale by the Borrower in the ordinary course of business for fair consideration provided that at the time of such sale no Default or Event of Default shall have occurred and be continuing. The Agent shall provide such evidence of such release as the Borrower may request, but the release of the Collateral described in this clause (b) shall occur automatically and without any further action by the Agent upon the sale described above.
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Conditions to Release of Collateral. (a) Subject to this Section 7.1(a) and Section 7.2, the Trustee shall release its security -------------- ----------- interest in all of the Collateral on the earlier of: (i) the date on which (A) all the Secured Debt shall have been paid and the unfunded commitments of all Beneficiaries shall have been terminated and (B) accrued and unpaid Trustee's Fees shall have been paid in full; or (ii) the date which is 3 days after the date on which (A) the Trustee shall have received written instructions from the Mandatory Holders instructing the Trustee to release its security interest in all of the Collateral, and (B) accrued and unpaid Trustee's Fees shall have been paid in full. (b) Subject to this Section 7.1(b) and Section 7.2, the Trustee shall -------------- ----------- release its security interest in specific items or portions of the Collateral on the date which is 3 days after the date on which (i) the Trustee shall have received written instructions from the Mandatory Holders instructing the Trustee to release its security interest in specific items or portions of the Collateral, and (ii) accrued and unpaid Trustee's Fees shall have been paid in full.
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Conditions to Release of Collateral. Total or partial releases are subject to at least 30 days written notice to Capital America or its assignee, which notice must include the Properties proposed to be released, and may only occur on a regularly scheduled payment date. Any release is subject to Capital America's or its assignee's receipt of a legal opinion of outside counsel acceptable to Capital America or its assignee which states without qualification that Capital America or its assignee will have, upon the release, a first priority perfected security interest in the US Treasury Securities referred to below. Borrower may be relieved of its obligations under the Loan after payment of the Total Release Payment or the Partial Release Payment, as the case may be, in an amount equal to the Loan Amount, in the case of a total release or 125% of the Allocated Loan Amount in the case of a partial release, provided that it assigns to a special purpose corporation acceptable to Capital America or its assignee that portion of the Permanent Loan equal to the Permanent Loan Amount, in the case of a total release, or 125% of the Allocated Loan Amount, in the case of a partial release; and provided further that, in the case a partial release, Borrower shall remain liable for the remaining balance of the Permanent Loan.
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Related to Conditions to Release of Collateral

  • Release of Collateral Subject to Section 11.01 and the terms of the Basic Documents, the Indenture Trustee shall release property from the lien of this Indenture only upon receipt by it of an Issuer Request accompanied by an Officer’s Certificate, an Opinion of Counsel and Independent Certificates in accordance with TIA Sections 314(c) and 314(d)(1) or an Opinion of Counsel in lieu of such Independent Certificates to the effect that the TIA does not require any such Independent Certificates.

  • Condition of Collateral Secured Party has no obligation to repair, clean-up or otherwise prepare the Collateral for sale.

  • Release of Collateral, etc Any release, surrender, exchange, subordination, deterioration, waste, loss or impairment (including without limitation negligent, willful, unreasonable or unjustifiable impairment) of any collateral, property or security, at any time existing in connection with, or assuring or securing payment of, all or any part of the Liabilities;

  • Termination of Security Interests; Release of Collateral Upon payment in full of all Secured Obligations, the Security Interests shall terminate and all rights to the Collateral shall revert to Debtor. Upon such termination of the Security Interest or release of any Collateral, the Secured Party will, at the expense of Debtor, execute and deliver to Debtor such documents as Debtor shall reasonably request to evidence the termination of the Security Interest or the release of such Collateral, as the case may be.

  • Purchase of Collateral Credit bid and purchase all or any portion of the Collateral at any public sale. Any deficiency that exists after disposition of the Collateral as provided above will be paid immediately by Borrower.

  • Release of Liens If at any time any Grantor or any ABL Secured Party delivers notice to the New First Lien Collateral Agent with respect to any specified Common Collateral that: (A) such specified Common Collateral is sold, transferred or otherwise disposed of (a “Disposition”) by the owner of such Common Collateral in a transaction permitted under the ABL Credit Agreement and the New First Lien Agreement; or (B) the ABL Secured Parties are releasing or have released their Liens on such Common Collateral in connection with a Disposition in connection with an Exercise of Secured Creditor Remedies with respect to such Common Collateral, then the Liens upon such Common Collateral securing New First Lien Obligations will automatically be released and discharged as and when, but only to the extent, such Liens on such Common Collateral securing ABL Obligations are released and discharged (provided that in the case of clause (B) of this Section 2.4(b), the Liens on any Common Collateral disposed of in connection with an Exercise of Secured Creditor Remedies shall be automatically released but any proceeds thereof not applied to repay ABL Obligations shall be subject to the respective Liens securing New First Lien Obligations and shall be applied pursuant to Section 4.1). Upon delivery to the New First Lien Collateral Agent of a notice from the ABL Collateral Agent stating that any such release of Liens securing or supporting the ABL Obligations has become effective (or shall become effective upon the New First Lien Collateral Agent’s receipt of such notice), the New First Lien Collateral Agent shall, at the Company’s expense, promptly execute and deliver such instruments, releases, termination statements or other documents confirming such release on customary terms, which instruments, releases and termination statements shall be substantially identical to the comparable instruments, releases and termination statements executed by the ABL Collateral Agent in connection with such release. The New First Lien Collateral Agent hereby appoints the ABL Collateral Agent and any officer or duly authorized person of the ABL Collateral Agent, with full power of substitution, as its true and lawful attorney-in-fact with full irrevocable power of attorney in the place and stead of the New First Lien Collateral Agent and in the name of the New First Lien Collateral Agent or in the ABL Collateral Agent’s own name, from time to time, in the ABL Collateral Agent’s sole discretion, for the purposes of carrying out the terms of this paragraph, to take any and all appropriate action and to execute and deliver any and all documents and instruments as may be necessary or desirable to accomplish the purposes of this paragraph, including any financing statements, endorsements, assignments, releases or other documents or instruments of transfer (which appointment, being coupled with an interest, is irrevocable).

  • Retention of Collateral In addition to the rights and remedies hereunder, the Administrative Agent may, in compliance with Sections 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable Law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.

  • Use of Collateral Each of the parties granting a security interest hereunder may continue to use and deal with its interest in the Collateral in any lawful manner and may sell items of Collateral in the ordinary course of its business, subject only to the requirements of the Transfer Documents, the Servicing Agreement or any other Basic Document, as appropriate.

  • Possession and Use of Collateral Subject to the provisions of the Security Documents, the Issuer and the Guarantors shall have the right to remain in possession and retain exclusive control of and to exercise all rights with respect to the Collateral (other than monies or U.S. government obligations deposited pursuant to Article VIII, and other than as set forth in the Security Documents and this Indenture), to operate, manage, develop, lease, use, consume and enjoy the Collateral (other than monies and U.S. government obligations deposited pursuant to Article VIII and other than as set forth in the Security Documents and this Indenture), to alter or repair any Collateral so long as such alterations and repairs do not impair the creation or perfection of the Lien of the Security Documents thereon, and to collect, receive, use, invest and dispose of the reversions, remainders, interest, rents, lease payments, issues, profits, revenues, proceeds and other income thereof.

  • Limitation on Duties Regarding Preservation of Collateral The Lender's duty with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the Uniform Commercial Code or otherwise, shall be to deal with it in the same manner as the Lender deals with similar property for its own account. Neither the Lender nor any of its directors, officers or employees shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of the Borrower or otherwise.

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