Common use of Effectiveness of Release Clause in Contracts

Effectiveness of Release. The release, termination and discharge of Agent’s security interests in and liens on the Purchased Assets pursuant to Section 1 hereof shall be effective, without further action by Agent, upon the Term Loan Agent’s receipt, from or on behalf of the Credit Parties (including by direct payment by the Purchaser), of an aggregate amount of not less than $5,000,000 in immediately available funds to the bank account specified on Schedule I hereto by not later than noon (New York City time) on , 2008. (To the extent such payment is not received by such time, this Release and Termination of Liens shall terminate and be of no further force or effect.)

Effectiveness of Release. The release, termination and discharge of the Collateral Agent’s security interests in and liens on the Purchased Assets pursuant to Section 1 hereof shall be effective, without further action by the Collateral Agent, upon the Term Loan Administrative Agent’s receipt, from or on behalf of the Credit Parties (including by direct payment by the Purchaser), of an aggregate amount of not less than $5,000,000 $ ___ in immediately available funds to the bank account specified on Schedule I II hereto by not later than noon (New York City time) on ___, 2008. (To the extent such payment is not received by such time, this Release and Termination of Liens shall terminate and be of no further force or effect.)

Effectiveness of Release. The release, termination and discharge of the Collateral Agent’s security interests in and liens on the Purchased Assets pursuant to Section 1 hereof shall be effective, without further action by the Collateral Agent, upon the Term Loan Administrative Agent’s receipt, from or on behalf of the Credit Parties (including by direct payment by the Purchaser), of an aggregate amount of not less than $5,000,000 in immediately available funds to the bank account specified on Schedule I hereto by not later than noon (New York City time) on , 2008. (To the extent such payment is not received by such time, this Release and Termination of Liens shall terminate and be of no further force or effect.)

Effectiveness of Release. The release, termination and discharge of Agent’s security interests in and liens on the Purchased Assets pursuant to Section 1 hereof shall be effective, without further action by Agent, upon the Term Loan Agent’s receipt, from or on behalf of the Credit Parties (including by direct payment by the Purchaser), of an aggregate amount of not less than $5,000,000 [___] in immediately available funds to the bank account specified on Schedule I II hereto by not later than noon (New York City time) on [___, 2008]. (To the extent such payment is not received by such time, this Release and Termination of Liens shall terminate and be of no further force or effect.)