Determinations relating to Collateral; Releases of Collateral Sample Clauses

Determinations relating to Collateral; Releases of Collateral. (a) In the event (i) the Collateral and Intercreditor Agent shall receive any written request from any Grantor under any Collateral Document for consent or approval with respect to any matter relating to any Collateral Document, any Collateral or any Grantor’s obligations with respect thereto, (ii) there shall be due to or from the Collateral and Intercreditor Agent under the provisions of any Collateral Document any material performance or the delivery of any material instrument or (iii) a Responsible Officer of the Collateral and Intercreditor Agent shall become aware of any nonperformance by any Grantor of any covenant or any breach of any representation or warranty set forth in any Collateral Document, then, in each such event, the Collateral and Intercreditor Agent shall advise the Voting Creditor Representatives of the matter or thing as to which consent has been requested or the performance or instrument required to be delivered or the nonperformance or breach of which the Collateral and Intercreditor Agent has become aware. The Required Creditors shall have the exclusive authority to direct the Collateral and Intercreditor Agent’s response to any of the events or circumstances contemplated in clauses (i), (ii) and (iii) above. (b) If in connection with: (i) any Enforcement Action, including any sale, lease, exchange, transfer or other disposition of any Collateral; (ii) any Collateral Asset Sale or any sale for Fair Market Value of Obsolete Equipment; (iii) any release of Collateral pursuant to Sections 7.5 or 7.6; or (iv) any other request by any Grantor that any Collateral be released from the Liens thereon granted under any Collateral Document; the Collateral and Intercreditor Agent releases fully or to any limited extent any Collateral from the Liens thereon granted under any of the Collateral Documents, then such Liens shall to such extent be released with respect to such Collateral and such release shall be binding upon all Secured Parties, and the Collateral and Intercreditor Agent shall not have any liability to any Secured Party on account of such release; provided that, in the case of any release made in connection with clause (ii) or (iii) of this Section 3.4(b), if such release is expressly permitted by the terms of each of the Voting Creditor Documents, then such release shall be binding upon all Secured Parties and the Collateral and Intercreditor Agent shall not have any liability to any Secured Party on account of such release, if t...
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Related to Determinations relating to Collateral; Releases of Collateral

  • Releases of Collateral (i) If any Collateral shall be sold, transferred or otherwise disposed of by any Obligor in a transaction permitted by the Credit Agreement, then the Administrative Agent, at the request and sole expense of such Obligor, shall promptly execute and deliver to such Obligor all releases and other documents, and take such other action, reasonably necessary for the release of the Liens created hereby or by any other Collateral Document on such Collateral. (ii) The Administrative Agent may release any of the Pledged Equity from this Agreement or may substitute any of the Pledged Equity for other Pledged Equity without altering, varying or diminishing in any way the force, effect, lien, pledge or security interest of this Agreement as to any Pledged Equity not expressly released or substituted, and this Agreement shall continue as a first priority lien on all Pledged Equity not expressly released or substituted.

  • 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.

  • 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.

  • 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;

  • Locations of Collateral (a) Properties Owned by the Grantor: (b) Properties Leased by the Grantor or other related entity (Include Landlord’s Name): (c) Public Warehouses or other Locations pursuant to Bailment or Consignment Arrangements (include name of Warehouse Operator or other Bailee or Consignee):

  • 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.

  • Authority of Administrative Agent to Release Collateral and Liens Each Lender and 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 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 9.12 or is otherwise authorized by the terms of the Loan Documents.

  • Defense of Collateral Defend the Collateral from any Liens other than Liens permitted by Section 8.2.

  • Defense of Collateral, Etc The Company shall defend and enforce its right, title and interest in and to any part of: (a) the Pledged Property; and (b) if not included within the Pledged Property, those assets and properties whose loss could have a Material Adverse Effect, the Company shall defend the Secured Party's right, title and interest in and to each and every part of the Pledged Property, each against all manner of claims and demands on a timely basis to the full extent permitted by applicable law.

  • Assignment of Collateral There is no material collateral securing any Mortgage Loan that has not been assigned to the Purchaser.

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