Disposition or Release of Collateral Sample Clauses

Disposition or Release of Collateral. (a) If at any time or from time to time the Collateral, or any portion thereof, is in any manner sold or otherwise transferred, the Creditor's consent to such disposition shall be automatically and irrevocably given if the Bank, in its sole discretion and for any reason, consents to such disposition, and in any event the Creditor shall not be entitled to receive any proceeds (cash or non-cash) of such disposition unless and until the Obligations have been indefeasibly paid in full. (b) If, at any time and for any reason, the Bank releases its lien on the Collateral, or any portion thereof, the Creditor shall likewise release its lien on the property so released from the Bank's lien, if the Creditor has obtained such a lien.
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Disposition or Release of Collateral a) If at any time or from time to time (i) the Collateral, or any portion thereof, is proposed in any manner to be sold or otherwise transferred, (ii) the Borrower is not in default under the Loan Agreement but the consent of the Agent Bank is required for such sale to occur under the Loan Agreement or an Event of Default has occurred under the Loan Agreement and the Agent Bank proposes to sell collateral, or any portion thereof, as a secured creditor under Article 9 of the Uniform Commercial Code; and (iii) the Agent Bank shall have given the Class B Loan Agent and the Borrower not less than 10 Business Days prior notice of the sale or transfer, the Class B Lenders shall be deemed to have consented to such disposition if Bank One, in its sole discretion and for any reason, consents to such disposition, and in any event the Class B Lenders shall not be entitled to receive any proceeds (cash or non-cash) of such disposition unless and until the Obligations have been indefeasibly paid in full. b) If at any time or from time to time (i) the liens of the Banks (including the Class B Lenders) on the Collateral or any portion thereof are proposed to be released, (ii) and the consent of the Agent Bank is required for release to occur; and (iii) the Agent Bank shall have given the Class B Loan Agent and the Borrower not less than 10 Business Days prior notice of the proposed release of lien, the Class B Lenders shall be deemed to have consented to such release if the Agent Bank, in its sole discretion and for any reason, consents to such release; provided that the Agent Bank's consent to such release does not constitute gross negligence in the exercise of its duties as Agent Bank.
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Disposition or Release of Collateral. (a) If at any time or from time to time the Collateral, or any portion thereof, is in any manner sold or otherwise transferred, the Creditor's consent to such disposition shall be automatically and irrevocably given if the Banks, in their sole discretion and for any reason, consents to such disposition, and in any event the Creditor shall not be entitled to receive any proceeds (cash or non-cash) of such disposition unless and until the Obligations have been indefeasibly paid in full. (b) If, at any time and for any reason, the Senior Lenders release their liens on the Collateral, or any portion thereof, the Creditor shall likewise release its lien on the property so released from the Senior Lenders' liens, if the Creditor has obtained such a lien.
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Disposition or Release of Collateral. If at any time or from time to time after the occurrence of an Event of Default, the Shared Collateral, or any portion thereof, is in any manner sold or otherwise transferred, each holder of a Subordinated Claim shall be deemed to have given irrevocable consent to such disposition if the Collateral Agent (as directed by the Agent Bank, acting in accordance with the Credit
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Disposition or Release of Collateral a) If at any time or from time to time the Collateral, or any portion thereof, is in any manner sold or otherwise transferred, the Creditor's consent to such disposition shall be automatically and irrevocably given if the Lender, in its sole discretion and for any reason, consents to such disposition, and in any event the Creditor shall not be entitled to receive any proceeds (cash or non-cash) of such disposition unless and until the Obligations have been indefeasibly paid in full. b) If, at any time and for any reason, the Lender releases its lien on the Collateral, or any portion thereof, the Creditor shall likewise release its lien on the property so released from the Lender's lien, if the Creditor has obtained such a lien. In the event the Creditor fails to release its lien on such property as aforesaid, the Lender, or any of its officers or employees on behalf of the Lender, is hereby irrevocably authorized in its own name or in the name of the Creditor to execute and deliver such releases and is hereby irrevocably appointed as the Creditor's attorney-in-fact for said purpose.
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Disposition or Release of Collateral. (a) The Creditor agrees that, until Bank has received payment in full of all Obligations, now existing or hereafter arising, Bank may dispose of, and exercise any other rights with respect to, any or all of the Collateral, free of the Subordinate Interest, provided that the Creditor retains any rights it may have as a junior secured creditor with respect to the surplus, if any, arising from any such disposition or enforcement. (b) If at any time or from time to time the Collateral, or any portion thereof, is in any manner sold or otherwise transferred, the Creditor's consent to such disposition shall be automatically and irrevocably given if the Bank, in its sole discretion and for any reason, consents to such disposition, and in any event the Creditor shall not be entitled to receive any proceeds (cash or non-cash) of such disposition unless and until the Obligations have been indefeasibly paid in full. (c) If, at any time and for any reason, the Bank releases any lien on the Collateral, or any portion thereof, the Creditor shall likewise release its lien on the property so released, if the Creditor has obtained such a lien. (d) Upon any disposition of any of the Collateral by Bank, or by the Debtor with Bank's written consent, the Creditor hereby authorizes Bank to file Uniform Commercial Code termination statements with respect to any financing statements in favor of Creditor with respect to Borrower and the Collateral, and Creditor agrees, if requested by Bank, to execute and immediately deliver any and all other releases, terminations and other documents or agreements which Bank deem necessary to accomplish a disposition of the Collateral free of the Subordinate Interest; provided that Creditor shall retain its Subordinate Interest in the proceeds of the Collateral so disposed of.
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Disposition or Release of Collateral. (a) If at any time or from time to time the Collateral, or any portion thereof, is in any manner sold or otherwise transferred in accordance with the terms of the Credit Agreement as in effect on the date hereof, the Creditor's consent to such disposition shall be automatically and irrevocably given if the Bank, in its sole discretion and for any reason, consents to such disposition, and such disposition occurs reasonably (b) If, at any time and for any reason, the Bank releases its lien on the Collateral, or any portion thereof, in connection with a sale or other disposition thereof made in accordance with the terms of the Credit Agreement as in effect on the date hereof, the Creditor shall likewise release its lien on the property so released from the Bank's lien, if the Creditor has obtained such a lien. 12.
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Disposition or Release of Collateral. (a) If at any time or from time to time the Collateral, or any portion thereof, is in any manner sold or otherwise transferred in accordance with the terms of the Credit Agreement, as in effect on the date hereof, each Creditor consents to such disposition shall be automatically and irrevocably given if the Bank, in its sole discretion and for any reason, consents to such disposition, and such disposition occurs reasonably promptly after the Bank shall have given such consent, and in any event no Creditor shall be entitled to receive any proceeds (cash or non-cash) of such disposition unless and until the Obligations have been indefeasibly paid in full. (b) If, at any time and for any reason, the Bank releases its lien on the Collateral, or any portion thereof, in connection with a sale or other disposition thereof made in accordance with the terms of the Credit Agreement, as in effect on the date hereof, each Creditor shall likewise release its lien on the property so released from the Bank's lien, if such Creditor has obtained such a lien.
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Related to Disposition or 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.

  • Disposition of Collateral Such Grantor will not sell, lease or otherwise dispose of the Collateral owned by it except for dispositions specifically permitted pursuant to Section 6.05 of the Credit Agreement.

  • Use and Disposition of Collateral None of the Grantors shall make or permit to be made an assignment, pledge or hypothecation of the Collateral or shall grant any other Lien in respect of the Collateral, except as expressly permitted by Section 6.02

  • Sale of Collateral In addition to any other remedy provided herein, the Lender may immediately, without advertisement, sell at public or private sale or otherwise realize upon, in Baltimore, Maryland, or elsewhere, the whole or, from time to time, any part of the Collateral, or any interest which the Borrower may have therein. After deducting from the proceeds of sale or other disposition of the Collateral all expenses, including all expenses for legal services, the Lender shall apply such proceeds toward the satisfaction of the Obligations. Any remainder of the proceeds after satisfaction in full of the Obligations shall be distributed as required by applicable Law. Notice of any sale or other disposition shall be given to the Borrower at least ten (10) days before the time of any intended public sale or of the time after which any intended private sale or other disposition of the Collateral is to be made, which the Borrower hereby agrees shall be reasonable notice of such sale or other disposition. The Borrower agrees to assemble, or to cause to be assembled, at the Borrower's own expense, the Collateral at such place or places as the Lender shall designate. At any such sale or other disposition, the Lender may, to the extent permissible under applicable law, purchase the whole or any part of the Collateral, free from any right of redemption on the part of the Borrower, which right is hereby waived and released. Without limiting the generality of any of the rights and remedies conferred upon the Lender under this Section, the Lender may, to the full extent permitted by applicable law: (a) enter upon the premises of the Borrower, exclude therefrom the Borrower or any entity connected therewith, and take immediate possession of the Collateral, either personally or by means of a receiver appointed by a court of competent jurisdiction, using all necessary force to do so; (b) at the Lender's option, use, operate, manage, and control the Collateral in any lawful manner; (c) collect and receive all rents, income, revenue, earnings, issues, and profits therefrom; and (d) maintain, repair, renovate, alter or remove the Collateral as the Lender may determine in the Lender's discretion.

  • 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.

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

  • Application of Collateral The proceeds of any sale, or other realization (other than that received from a sale or other realization permitted by the Credit Agreement) upon all or any part of the Pledged Collateral pledged by the Pledgors shall be applied by the Secured Party as set forth in Section 7.06 of the Credit Agreement.

  • Application of Proceeds of Collateral Except as provided in subsection 2.4B(iii)(a) with respect to prepayments from Net Asset Sale Proceeds, all proceeds received by Administrative Agent in respect of any sale of, collection from, or other realization upon all or any part of the Collateral under any Collateral Document may, in the discretion of Administrative Agent, be held by Administrative Agent as Collateral for, and/or (then or at any time thereafter) applied in full or in part by Administrative Agent against, the applicable Secured Obligations (as defined in such Collateral Document) in the following order of priority: (a) To the payment of all costs and expenses of such sale, collection or other realization, including reasonable compensation to Administrative Agent and its agents and counsel, and all other expenses, liabilities and advances made or incurred by Administrative Agent in connection therewith, and all amounts for which Administrative Agent is entitled to indemnification under such Collateral Document and all advances made by Administrative Agent thereunder for the account of the applicable Loan Party, and to the payment of all costs and expenses paid or incurred by Administrative Agent in connection with the exercise of any right or remedy under such Collateral Document, all in accordance with the terms of this Agreement and such Collateral Document; (b) thereafter, to the extent of any excess such proceeds, to the payment of all other such Secured Obligations for the ratable benefit of the holders thereof; and (c) thereafter, to the extent of any excess such proceeds, to the payment to or upon the order of such Loan Party or to whosoever may be lawfully entitled to receive the same or as a court of competent jurisdiction may direct.

  • 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;

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

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