Continuing Security Interest; Termination. This Security Agreement shall create a continuing security interest in the Collateral and shall terminate upon Debtor’s payment in full to the Secured Party of the Payment Obligation. Upon such termination, the Secured Party shall execute and deliver to the Debtor all instruments and other documents as may be necessary or proper to release any and all liens on, and the security interest in, the Collateral.
Appears in 2 contracts
Samples: Security Agreement (Lucid Inc), Security Agreement (Lucid Inc)
Continuing Security Interest; Termination. This Security Agreement shall create a continuing security interest in the Collateral and shall terminate upon Debtor’s payment in full to the Secured Party all of the Payment Obligation. Upon such termination, the Secured Party shall execute and deliver to the Debtor all instruments and other documents as may be necessary or proper to release any and all liens onCollateral, and the security interest inshall survive until, and this Agreement shall remain in full force and effect and terminate only upon, the Collateralindefeasible payment (including payment in full in cash in immediately available funds in the case of Secured Obligations consisting of payment obligations) and performance in full of any and all Secured Obligations and the expiration or earlier termination of all obligations of the Secured Party under this Agreement and the other Investment Documents.
Appears in 2 contracts
Samples: Patent, Trademark and Copyright Security Agreement (Overhill Farms Inc), Security Agreement (Overhill Farms Inc)
Continuing Security Interest; Termination. This Security Agreement shall create a continuing security interest in all of the Collateral and shall terminate upon Debtor’s payment in full to the Secured Party of the Payment Obligation. Upon such termination, the Secured Party shall execute and deliver to the Debtor all instruments and other documents as may be necessary or proper to release any and all liens on, and the security interest inshall survive until, and this Agreement shall remain in full force and effect, and terminate only upon, the Collateralindefeasible payment and performance in full of any and all Obligations (including payment in full in cash in immediately available funds in the case of Secured Obligations consisting of payment obligations), and the termination of any and all obligations of Secured Party under the Securities Purchase Agreement and the Related Agreements.
Appears in 2 contracts
Samples: Security Agreement (Levine Leichtman Capital Partners Ii Lp), Second Amended and Restated Security Agreement (Levine Leichtman Capital Partners Ii Lp)
Continuing Security Interest; Termination. This Security Agreement shall create a continuing security interest in and to the Pledged Collateral and shall terminate upon Debtor’s shall, unless otherwise provided in this Security Agreement, remain in full force and effect until the payment in full in cash of the Obligations. This Security Agreement shall be binding upon the Pledgor, its transferees, successors and assigns, and shall inure, together with the rights and remedies of the Trustee hereunder, to the Secured Party benefit of the Payment Obligation. Upon such terminationTrustee, the Secured Party shall execute and deliver to the Debtor all instruments and other documents as may be necessary or proper to release any and all liens on, and the security interest inSecurities Intermediary, the CollateralHolders of the Notes and their respective successors, transferees and assigns.
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Continuing Security Interest; Termination. (a) This Escrow and Security Agreement shall create a continuing security interest in and to the Collateral and shall terminate upon Debtor’s shall, unless otherwise provided in the Term Loan Agreement or in this Escrow and Security Agreement, remain in full force and effect until the payment in full to the Secured Party in cash of the Payment Obligation. Upon such terminationObligations or the release of the Collateral in accordance with the terms of this Escrow and Security Agreement, the Secured Party shall execute and deliver to the Debtor all instruments and other documents as may be necessary or proper to release at which time any and all liens on, security interests in the Collateral shall immediately and the security interest in, the Collateral.automatically be
Appears in 1 contract
Samples: Escrow and Security Agreement (MBOW Four Star, L.L.C.)
Continuing Security Interest; Termination. This Security Agreement shall create a continuing security interest in all of the Collateral and shall terminate upon Debtor’s payment in full to the Secured Party of the Payment Obligation. Upon such termination, the Secured Party shall execute and deliver to the Debtor all instruments and other documents as may be necessary or proper to release any and all liens on, and the security interest inshall survive until, and this Agreement shall remain in full force and effect and terminate only upon, the Collateralpayment and performance in full of all Obligations (including payment in full in cash in immediately available funds in the case of Obligations consisting of payment obligations).
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