Common use of Lien Releases; Care of Collateral Clause in Contracts

Lien Releases; Care of Collateral. Lenders authorize Agent to release any Lien with respect to any Collateral (a) upon Full Payment of the Obligations; (b) that is the subject of an Asset Disposition which Borrowers certify in writing to Agent is a Permitted Asset Disposition or a Lien which Borrowers certify is a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate without further inquiry); (c) that does not constitute a material part of the Collateral; (d) as required to effect any sale or other disposition of Collateral in connection with any exercise of remedies of Agent pursuant to the Security Documents; or (e) with the written consent of the Required Lenders. Lenders hereby authorize Agent to execute and deliver any instruments, documents and agreements necessary or desirable to evidence and confirm the release of any Collateral pursuant to the foregoing provisions of this paragraph, all without the further consent or joinder of any Lender. Agent shall have no obligation whatsoever to any Lenders to assure that any Collateral exists or is owned by a Borrower, or is cared for, protected, insured or encumbered, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 6 contracts

Samples: Loan and Security Agreement (Commercial Vehicle Group, Inc.), Loan and Security Agreement (Commercial Vehicle Group, Inc.), Loan and Security Agreement (Commercial Vehicle Group, Inc.)

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Lien Releases; Care of Collateral. Lenders (and Bank Product Providers) authorize Agent to release any Lien with respect to any Collateral (a) upon Full Payment payment in full of the ObligationsObligations (other than unasserted contingent obligations); (b) that is the subject of an Asset Disposition which a disposition or Lien that Borrowers certify in writing to Agent is a Permitted Asset Disposition or a Lien which Borrowers certify is any other disposition permitted by the Loan Documents or a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate without further inquiry); (c) that does not constitute a material part of the Collateral; (d) as required to effect any sale or other disposition of Collateral in connection with any exercise of remedies of Agent pursuant to the Security Documentsthat is owned by a Loan Party if such Loan Party becomes an Excluded Subsidiary; or (e) if required or permitted under the terms of any other Loan Documents, including any intercreditor agreement, or (f) subject to Section 14.1, with the written consent of the Required Lenders. Lenders hereby (and Bank Product Providers) authorize Agent to execute and deliver subordinate its Liens to any instruments, documents and agreements necessary Permitted Purchase Money Indebtedness or desirable other Lien entitled to evidence and confirm the release of any Collateral pursuant to the foregoing provisions of this paragraph, all without the further consent or joinder of any Lenderpriority hereunder. The Agent shall not have no any obligation whatsoever to any Lenders to assure that any Collateral exists or is owned by a BorrowerLoan Party, or is cared for, protected, insured protected or encumberedinsured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 5 contracts

Samples: Revolving Credit Agreement (Cleveland-Cliffs Inc.), Revolving Credit Agreement (Cleveland-Cliffs Inc.), Credit Agreement (Cleveland-Cliffs Inc.)

Lien Releases; Care of Collateral. Lenders Secured Parties authorize Agent to release any Lien with respect to on any Collateral (a) upon Full Payment of the Obligations; (b) that is the subject of an Asset Disposition which Borrowers certify a disposition or Lien that Borrower Agent certifies in writing to Agent is a Permitted Asset Disposition or a Lien which Borrowers certify is a Permitted Lien entitled to priority over Agent’s 's Liens (and Agent may rely conclusively on any such certificate without further inquiry); (c) that does not constitute a material part of the Collateral; (d) as required to effect any sale or other disposition that is owned by an Obligor that is released from its obligations under the Loan Documents in accordance with the terms of Collateral in connection with any exercise of remedies of Agent pursuant to the Security Loan Documents; or (e) subject to Section 14.1, with the written consent of the Required Lenders. Lenders hereby Secured Parties authorize Agent to execute and deliver release any instruments, documents and agreements necessary Obligor from its obligations under the Loan Documents if such Person is no longer required to be an Obligor as a result of a transaction permitted under the Loan Documents. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or desirable other Lien entitled to evidence and confirm the release of any Collateral pursuant to the foregoing provisions of this paragraph, all without the further consent or joinder of any Lenderpriority hereunder. Agent shall have has no obligation whatsoever to any Lenders to assure that any Collateral exists or is owned by a Borroweran Obligor, or is cared for, protected, insured protected or encumberedinsured, nor to assure that Agent’s 's Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral. To the extent required under the laws of any foreign jurisdiction, each Secured Party hereby grants to Agent any required power of attorney to take any action with respect to Collateral or to execute any Loan Document on the Secured Party's behalf.

Appears in 4 contracts

Samples: Loan and Security Agreement (Rocky Brands, Inc.), Loan and Security Agreement (Rocky Brands, Inc.), Loan and Security Agreement (Rocky Brands, Inc.)

Lien Releases; Care of Collateral. Lenders authorize Agent to (x) release any Lien with respect to any Collateral (a) upon Full Payment the occurrence of (i) the payment, in full, in cash of the Obligations; Obligations (other than contingent indemnification obligations with respect to which no claim has been asserted in writing), (ii) the payment of any appropriate Cash Collateral deposits in connection with contingent LC Obligations and other Obligations and (iii) the occurrence of the Commitment Termination Date, (b) that is the subject of an Asset Disposition which Borrowers certify Borrower Agent certifies in writing to Agent is a Permitted Asset Disposition or a Lien which Borrowers certify is a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate without further inquiry); , (c) that does not constitute a material part of the Collateral; , or (d) as required to effect any sale or other disposition of Collateral in connection with any exercise of remedies of Agent pursuant to the Security Documents; or (e) with the written consent of all Lenders, or (y) release any Guarantor from its obligations under the Required Lenders. Lenders hereby authorize Agent Guaranty if such Person ceases to execute and deliver any instruments, documents and agreements necessary or desirable to evidence and confirm the release be a Subsidiary as a result of any Collateral pursuant to the foregoing provisions of this paragraph, all without the further consent or joinder of any Lendera transaction permitted hereunder. Agent shall have no obligation whatsoever to any Lenders to assure that any Collateral exists or is owned by a Borroweran Obligor, or is cared for, protected, insured or encumbered, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 3 contracts

Samples: Loan and Security Agreement (Bon Ton Stores Inc), Loan and Security Agreement (Bon Ton Stores Inc), Loan and Security Agreement (Bon Ton Stores Inc)

Lien Releases; Care of Collateral. Lenders Secured Parties authorize Agent to release any Lien with respect to on any Collateral (a) upon Full Payment of the Obligations; (b) that is the subject of an Asset Disposition which a disposition or Lien that Borrowers certify in writing to Agent is a Permitted Asset Disposition or a Lien which Borrowers certify is a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate without further inquiry); (c) that does not constitute a material part of the Collateral; or (d) as required subject to effect any sale or other disposition of Collateral in connection with any exercise of remedies of Agent pursuant to the Security Documents; or (e) Section 13.1, with the written consent of the Required Lenders, affected Lenders or all Lenders, as applicable hereunder. Lenders hereby Secured Parties authorize Agent to execute and deliver subordinate its Liens to any instruments, documents and agreements necessary Purchase Money Lien or desirable other Lien entitled to evidence and confirm the release of any Collateral pursuant to the foregoing provisions of this paragraph, all without the further consent or joinder of any Lenderpriority hereunder. Agent shall have has no obligation whatsoever to any Lenders to assure that any Collateral exists or is owned by a Borroweran Obligor, or is cared for, protected, insured protected or encumberedinsured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral. To the extent required under the laws of any foreign jurisdiction, each Secured Party hereby grants to Agent any required power of attorney to take any action with respect to Collateral or to execute any Loan Document on the Secured Party’s behalf.

Appears in 3 contracts

Samples: Loan and Security Agreement (Chicago Atlantic Real Estate Finance, Inc.), Loan and Security Agreement (Chicago Atlantic Real Estate Finance, Inc.), Loan and Security Agreement (Chicago Atlantic Real Estate Finance, Inc.)

Lien Releases; Care of Collateral. Lenders Secured Parties authorize Agent to release any Lien with respect to on any Collateral (a) upon Full Payment of the Obligations; (b) that is the subject of an Asset Disposition which Borrowers certify a disposition or Lien that Borrower Agent certifies in writing to Agent is a Permitted Asset Disposition or a Lien which Borrowers certify is a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate without further inquiry); (c) that does not constitute a material part of the Collateral; (d) as required subject to effect any sale or other disposition Section 14.1, with the consent of Collateral in connection with any exercise of remedies of Agent pursuant to the Security DocumentsRequired Lenders; or (e) constituting real property interests upon the occurrence of a Release Event with the written consent of the Required Lendersrespect thereto. Lenders hereby Secured Parties authorize Agent to execute and deliver subordinate its Liens to any instruments, documents and agreements necessary Purchase Money Lien or desirable other Lien entitled to evidence and confirm the release of any Collateral pursuant to the foregoing provisions of this paragraph, all without the further consent or joinder of any Lenderpriority hereunder. Agent shall have has no obligation whatsoever to any Lenders to assure that any Collateral exists or is owned by a Borroweran Obligor, or is cared for, protected, insured protected or encumberedinsured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral. To the extent required under the laws of any foreign jurisdiction, each Secured Party hereby grants to Agent any required power of attorney to take any action with respect to Collateral or to execute any Loan Document on the Secured Party’s behalf.

Appears in 2 contracts

Samples: Loan, Security and Guaranty Agreement (Atlas Energy Solutions Inc.), Loan, Security and Guaranty Agreement (Atlas Energy Solutions Inc.)

Lien Releases; Care of Collateral. Lenders authorize Agent to release any Lien with respect to any Collateral (a) upon Full Payment of the Obligations; , (b) that is the subject of an Asset Disposition which Borrowers certify Borrower Representative certifies in writing to Agent is a Permitted Asset Disposition or a Lien which Borrowers certify Borrower Representative certifies is a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate without further inquiry); , (c) that does not constitute a material part of is within the Collateral; limitations set forth in Section 14.1(d)(ii), or (d) as required to effect any sale or other disposition of Collateral in connection with any exercise of remedies of Agent pursuant to the Security Documents; or (e) with the written consent of the Required all Lenders. Lenders hereby authorize ; provided, further, upon request of Borrower Representative, Agent to execute and deliver any instruments, documents and agreements necessary or desirable to evidence and confirm the will provide Borrower Representative with a release of the Agent’s security interest in any assets or Collateral pursuant to the foregoing provisions of this paragraph, all without the further consent or joinder of any Lenderin conjunction with a Permitted Asset Disposition. Agent shall have no obligation whatsoever to any Lenders to assure that any Collateral exists or is owned by a Borroweran Obligor, or is cared for, protected, insured or encumbered, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 2 contracts

Samples: Credit Agreement (Apparel Holding Corp.), Credit Agreement (Apparel Holding Corp.)

Lien Releases; Care of Collateral. Lenders Secured Parties authorize Agent to release any Lien with respect to on any Collateral (a) upon Full Payment of the ObligationsPayment; (b) that is the subject of an Asset Disposition which Borrowers certify a disposition or Lien that Parent certifies in writing to Agent is a Permitted Asset Disposition or a Lien which Borrowers certify is a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate without further inquiry); (c) that does not constitute a material part of the Collateral; or (d) as required subject to effect any sale or other disposition of Collateral in connection with any exercise of remedies of Agent pursuant to the Security Documents; or (e) Section 14.1, with the written consent of the Required Lenders. Lenders Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien entitled to priority under this Agreement. Secured Parties hereby authorize Agent to execute and deliver any instruments, documents and agreements necessary or desirable to evidence and confirm the release of any Collateral Collateral, or the subordination of the Lien encumbering any Collateral, pursuant to the foregoing provisions of this paragraph, all without the further consent or joinder of any Lender. Agent shall have has no obligation whatsoever to any Lenders to assure that any Collateral exists or is owned by a Borroweran Obligor, or is cared for, protected, insured protected or encumberedinsured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 2 contracts

Samples: Loan, Security and Guaranty Agreement (Quintana Energy Services Inc.), Loan, Security and Guaranty Agreement (Quintana Energy Services Inc.)

Lien Releases; Care of Collateral. Lenders Secured Parties authorize Agent to release any Lien with respect to on any Collateral (a) upon Full Payment of the Obligations; (b) that is the subject of an Asset Disposition which Borrowers certify a disposition or Lien that Borrower Agent certifies in writing to Agent is a Permitted Asset Disposition or a Lien which Borrowers certify is a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate without further inquiry); (c) that does not constitute a material part of the Collateral; (d) as required to effect any sale or other disposition that is owned by an Obligor that is released from its obligations under the Loan Documents in accordance with the terms of Collateral in connection with any exercise of remedies of Agent pursuant to the Security Loan Documents; or (e) subject to Section 14.1, with the written consent of the Required Lenders. Lenders hereby Secured Parties authorize Agent to execute and deliver release any instruments, documents and agreements necessary Obligor from its obligations under the Loan Documents if such Person is no longer required to be an Obligor as a result of a transaction permitted under the Loan Documents. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or desirable other Lien entitled to evidence and confirm the release of any Collateral pursuant to the foregoing provisions of this paragraph, all without the further consent or joinder of any Lenderpriority hereunder. Agent shall have has no obligation whatsoever to any Lenders to assure that any Collateral exists or is owned by a Borroweran Obligor, or is cared for, protected, insured protected or encumberedinsured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral. To the extent required under the laws of any foreign jurisdiction, each Secured Party hereby grants to Agent any required power of attorney to take any action with respect to Collateral or to execute any Loan Document on the Secured Party’s behalf.

Appears in 2 contracts

Samples: Abl Loan and Security Agreement (Rocky Brands, Inc.), Loan and Security Agreement (Rocky Brands, Inc.)

Lien Releases; Care of Collateral. Lenders Secured Parties authorize Agent to release (and Agent shall release) any Lien with respect to any Collateral (a) upon Full Payment of the Obligations; (b) that is the subject of an Asset Disposition which a disposition or Lien that Borrowers certify in writing to Agent is a Permitted an Asset Disposition not prohibited by Section 10.2.6 or a Lien which Borrowers certify is a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate without further inquiry); (c) that does not constitute a material part of the Collateral; or (d) as required subject to effect any sale or other disposition of Collateral in connection with any exercise of remedies of Agent pursuant to the Security Documents; or (e) Section 14.1, with the written consent of the Required Lenders. Lenders hereby Secured Parties authorize Agent to execute and deliver subordinate its Liens to any instruments, documents and agreements necessary Purchase Money Lien or desirable other Lien entitled to evidence and confirm the release of any Collateral pursuant to the foregoing provisions of this paragraph, all without the further consent or joinder of any Lenderpriority hereunder. Agent shall have no obligation whatsoever to any Lenders to assure that any Collateral exists or is owned by a Borroweran Obligor, or is cared for, protected, insured protected or encumberedinsured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, priority nor to exercise any duty of care with respect to any Collateral; provided that, solely with respect to the Borrowers (and without any obligation to the Secured Parties), the Agent shall use reasonable care in the custody and preservation of any of the Collateral in its possession; provided, further, that the Agent shall be deemed to have used reasonable care in the custody and preservation of any of the Collateral, if such Collateral is accorded treatment substantially similar to the treatment that the Agent accords its own property.

Appears in 1 contract

Samples: First Lien Loan and Security Agreement (Duckhorn Portfolio, Inc.)

Lien Releases; Care of Collateral. Lenders Secured Parties authorize Agent to release any Lien with respect to on any Collateral (a) upon Full Payment of the Obligations; (b) that is the subject of an Asset Disposition which Borrowers certify in writing to Agent a disposition or Lien that is a Permitted Asset Disposition or a Lien which Borrowers certify is a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any a certificate of the Borrower Agent to such certificate effect without further inquiry); (c) that does not constitute a material part of the Collateral; (d) as required to effect any sale or other disposition that is owned by an Obligor that is released from its obligations under the Loan Documents in accordance with the terms of Collateral in connection with any exercise of remedies of Agent pursuant to the Security Loan Documents; or (ed) subject to Section 14.1, with the written consent of the Required Lenders. Lenders hereby Secured Parties authorize Agent to execute and deliver subordinate its Liens to any instruments, documents and agreements necessary Purchase Money Lien or desirable other Lien entitled to evidence and confirm priority hereunder. Secured Parties authorize Agent to release any Obligor from its obligations under the release Loan Documents if such Person is no longer required to be an Obligor as a result of any Collateral pursuant to a transaction permitted under the foregoing provisions of this paragraph, all without the further consent or joinder of any LenderLoan Documents. Agent shall have has no obligation whatsoever to any Lenders to assure that any Collateral exists or is owned by a Borroweran Obligor, or is cared for, protected, insured protected or encumberedinsured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Calix, Inc)

Lien Releases; Care of Collateral. Lenders Secured Parties authorize Collateral Agent to release any Lien with respect to any Collateral (a) upon Full Payment of the Secured Obligations; (b) that is the subject of an Asset Disposition a sale, lease, license, consignment, transfer or other disposition which Borrowers certify Administrative Borrower certifies in writing to Administrative Agent and Collateral Agent is a Permitted permitted by Section 6.06 (provided that no Lien shall be released in any Series of Cash Neutral Transactions or in any Asset Disposition or a Lien which Borrowers certify is a Permitted Lien entitled Sale to priority over Agent’s Liens another Loan Party) (and Agent may rely conclusively on any such certificate without further inquiry); (c) that does not constitute a material part of the Collateral; (d) as required if the property subject to effect any sale or other disposition such Lien is owned by a Guarantor, upon release of Collateral in connection with any exercise of remedies of Agent such Guarantor from its obligations under its Guarantee pursuant to the Security DocumentsSection 7.09; or (e) with the written consent of the Required LendersLenders or such other number of Lenders whose consent is required under Section 11.02. Lenders hereby Secured Parties authorize Collateral Agent to execute and deliver subordinate or release its Liens to any instruments, documents and agreements necessary a Lien permitted hereunder that secures a Purchase Money Obligation or desirable to evidence and confirm the release of any Collateral pursuant to the foregoing provisions of this paragraph, all without the further consent or joinder of any LenderCapital Lease Obligation permitted hereunder. No Agent shall have no any obligation whatsoever to any Lenders to assure that any Collateral exists or is owned by a BorrowerLoan Party, or is cared for, protected, insured protected or encumberedinsured, nor to assure that Collateral Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 1 contract

Samples: Security Agreement (Novelis Inc.)

Lien Releases; Care of Collateral. Lenders Secured Parties authorize Agent to release any Lien with respect to any Collateral Collateral, and Agent shall release such Lien and enter into any documentation reasonably requested by an Obligor with respect to such release (subject to receipt by Agent of such payoff letters and/or officer’s certificates as Agent may reasonably request in connection with such release, all of which shall be in form and substance reasonably satisfactory to Agent): (a) upon Full Payment of the Obligations; (b) that is the subject of an Asset Disposition which Borrowers a disposition or Lien that Obligors certify in writing to Agent is a Permitted Asset Disposition or a Lien which Borrowers certify is a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate without further inquiry); (c) that does not constitute a material part of the CollateralCollateral (as determined by Agent in its sole discretion); or (d) as required subject to effect any sale or other disposition of Collateral in connection with any exercise of remedies of Agent pursuant to the Security Documents; or (e) Section 14.1, with the written consent of the Required Lenders. Lenders hereby Secured Parties authorize Agent to execute and deliver subordinate its Liens to any instruments, documents and agreements necessary Purchase Money Lien or desirable other Lien entitled to evidence and confirm the release of any Collateral pursuant to the foregoing provisions of this paragraph, all without the further consent or joinder of any Lenderpriority hereunder. Agent shall have has no obligation whatsoever to any Lenders to assure that any Collateral exists or is owned by a Borroweran Obligor, or is cared for, protected, insured protected or encumberedinsured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Advanced Micro Devices Inc)

Lien Releases; Care of Collateral. Lenders authorize Agent to release any Lien with respect to any Collateral (a) upon Full Payment of the Obligations; (b) that is the subject of an Asset Disposition which Borrowers Obligors certify in writing to Agent is a Permitted Asset Disposition or a Lien which Borrowers Obligors certify is a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate without further inquiry) (it being understood that Agent may release any Subsidiary from its obligations under this Agreement and the other Loan Documents in connection with the sale of such Subsidiary pursuant to a Permitted Asset Distribution); (c) that does not constitute a material part of the Collateral; (d) as required to effect any sale or other disposition of Collateral in connection with any exercise of remedies of Agent pursuant to the Security Documents; Documents or (e) with the written consent of the Required all Lenders. Lenders hereby authorize Agent to execute and deliver any instruments, documents documents, and agreements necessary or desirable to evidence and confirm the release of any Subsidiary or Collateral pursuant to the foregoing provisions clauses (a) through (d) of this paragraph, all without the further consent or joinder of any Lender. Lenders authorize Agent to subordinate its Liens to any Purchase Money Lien permitted hereunder. Agent shall have no obligation whatsoever to any Lenders to assure that any Collateral exists or is owned by a Borroweran Obligor, or is cared for, protected, insured protected or encumberedinsured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Cross Country Healthcare Inc)

Lien Releases; Care of Collateral. Lenders Secured Parties authorize Agent to release any Lien with respect to on any Collateral (a) upon Full Payment of the Obligations; (b) that is the subject of an Asset Disposition which Borrowers a disposition or Lien that Obligors certify in writing to Agent is a Permitted Asset Disposition or a Lien which Borrowers certify is a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate without further inquiry); (c) that does not constitute a material part of the Collateral; or (d) as required subject to effect any sale or other disposition of Collateral in connection with any exercise of remedies of Agent pursuant to the Security Documents; or (e) Section 14.1, with the written consent of the Required Lenders. Lenders hereby Secured Parties authorize Agent to execute and deliver subordinate its Liens to any instruments, documents and agreements necessary Purchase Money Lien or desirable other Lien entitled to evidence and confirm the release of any Collateral pursuant to the foregoing provisions of this paragraph, all without the further consent or joinder of any Lenderpriority hereunder. Agent shall have has no obligation whatsoever to any Lenders to assure that any Collateral exists or is owned by a Borroweran Obligor, or is cared for, protected, insured protected or encumberedinsured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral. To the extent required under the laws of any foreign jurisdiction, each Secured Party hereby grants to Agent any required power of attorney to take any action with respect to Collateral or to execute any Loan Document on the Secured Party’s behalf.

Appears in 1 contract

Samples: Loan, Guaranty and Security Agreement (Quotient Technology Inc.)

Lien Releases; Care of Collateral. Lenders Secured Parties authorize Agent to release any Lien with respect to any Collateral (a) upon Full Payment of the Obligations; , (b) that is the subject of an Asset a Disposition which Borrowers certify Borrower Agent or any Borrower certifies in writing to Agent is a Permitted Asset an Excluded Disposition or a Lien which Borrowers certify Borrower Agent or any Borrower certifies is a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate without further inquiry); , (c) that does not constitute is the subject of any other Disposition permitted by Section 9.2.5 (other than a material part Disposition with respect to which Agent’s Lien is required to remain in effect as provided in clause (iii) of the Collateral; proviso in Section 9.2.5) or otherwise consented to by Required Lenders, or (d) as required subject to effect any sale Section 13.1, with the consent of Required Lenders (provided that the release of all or other disposition substantially all of the Collateral in connection with any exercise of remedies of Agent pursuant to the Security Documents; or (e) with shall require the written consent of the Required all Lenders). Lenders hereby Secured Parties authorize Agent to execute and deliver subordinate its Liens to any instruments, documents and agreements necessary Purchase Money Lien or desirable other Lien entitled to evidence and confirm the release of any Collateral pursuant to the foregoing provisions of this paragraph, all without the further consent or joinder of any Lenderpriority hereunder. Agent shall have no obligation whatsoever to any Lenders Secured Party to assure that any Collateral exists or is owned by a Borroweran Obligor, or is cared for, protected, insured or encumbered, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 1 contract

Samples: Credit Agreement (Calumet Specialty Products Partners, L.P.)

Lien Releases; Care of Collateral. Lenders Secured Parties authorize Agent to release any Lien with respect to on any Collateral (a) upon Full Payment of the Obligations; (b) that is the subject of an Asset Disposition which Borrowers a disposition or Lien that Obligors certify in writing to Agent is a Permitted Asset Disposition or a Lien which Borrowers certify is a Permitted Lien entitled to priority over Agent’s 's Liens (and Agent may rely conclusively on any such certificate without further inquiry); (c) that does not constitute a material part of the Collateral; or (d) as required subject to effect Section 15.1, with the consent of the applicable Required Lenders. Secured Parties authorize Agent to subordinate its Liens to any sale Purchase Money Lien or other disposition of Collateral in connection with any exercise of remedies of Lien entitled to priority hereunder or to the extent such Lien is permitted to be released by the Agent pursuant to the Security Documents; this Section, including, release or (e) with the written consent subordination of Liens of the Required Lenders. Lenders hereby authorize Agent to execute and deliver any instruments, documents and agreements necessary on Accounts assigned or desirable to evidence and confirm the release of any Collateral sold pursuant to the foregoing provisions of this paragraph, all without the further consent or joinder of any Lenderan Approved Supplier Finance Arrangement. Agent shall have has no obligation whatsoever to any Lenders to assure that any Collateral exists or is owned by a Borroweran Obligor, or is cared for, protected, insured protected or encumberedinsured, nor to assure that Agent’s 's Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Innerworkings Inc)

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Lien Releases; Care of Collateral. The Lenders authorize the Agent to release or subordinate any Lien with respect to any Collateral (a) upon Full Payment of the Obligations; , (b) that is the subject of an Asset Disposition Sale, transfer, sale, lease, or other disposition permitted by this Agreement which the Borrowers certify in writing to the Agent is a Permitted Asset Disposition permitted pursuant to the terms of this Agreement or is subject to a Lien which the Borrowers certify is a Permitted Lien entitled to priority over the Agent’s Liens pursuant to the terms of this Agreement (and the Agent may rely conclusively on any such certificate without further inquiry); , (c) that does not constitute Collateral with a material part of the Collateral; book value greater than $10,000,000 during any calendar year, or (d) as required to effect any sale or other disposition of Collateral in connection with any exercise of remedies of Agent pursuant to the Security Documents; or (e) with the written consent of the Required all Lenders. Lenders hereby authorize Agent to execute and deliver any instruments, documents and agreements necessary or desirable to evidence and confirm the release of any Collateral pursuant to the foregoing provisions of this paragraph, all without the further consent or joinder of any Lender. The Agent shall have no obligation whatsoever to any Lenders to assure that any Collateral exists or is owned by a Borrower, or is cared for, protected, insured insured, or encumbered, nor to assure that the Agent’s Liens have been properly created, perfected perfected, or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral. Each of the Lenders hereby directs the Agent to execute and deliver or file such termination statements and partial release statements and do such things as are necessary to release or subordinate any Liens to be released or subordinated pursuant to this Section 12.2.1 upon the effectiveness of such release.

Appears in 1 contract

Samples: Loan and Security Agreement (Amkor Technology Inc)

Lien Releases; Care of Collateral. Lenders authorize Agent to (a) release any Lien with respect to any Collateral (ai) upon Full Payment of the Obligations; , (bii) that is the subject of an Asset Disposition which Borrowers Loan Parties certify in writing to Agent is a Permitted Asset Disposition or a Lien which Borrowers Loan Parties certify is a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate without further inquiry); , (ciii) that does not constitute a material part of the Collateral; (d) as required to effect any sale or other disposition of Collateral in connection with any exercise of remedies of Agent pursuant to the Security Documents; , or (eiv) in all other cases, with the written consent of the Required Lenders. all Lenders hereby authorize Agent to execute and deliver (b) release any instruments, documents and agreements necessary or desirable to evidence and confirm the release Subsidiary of a Borrower from its guaranty of any Collateral Obligation if all of the Capital Stock of such Subsidiary owned by any Loan Party is sold or transferred in a transaction permitted under the Loan Documents (including pursuant to the foregoing provisions of this paragraph, all without the further consent a waiver or joinder of any Lenderconsent). Agent shall have no obligation whatsoever to any Lenders to assure that any Collateral exists or is owned by a BorrowerLoan Party, or is cared for, protected, insured or encumbered, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 1 contract

Samples: Loan Agreement (M/a-Com Technology Solutions Holdings, Inc.)

Lien Releases; Care of Collateral. Lenders Secured Parties authorize Agent to release any Lien with respect to on any Collateral (a) upon Full Payment of the Obligations; (b) that is the subject of an Asset Disposition which a disposition or Lien that Borrowers certify in writing to Agent is a Permitted Asset Disposition or a Lien which Borrowers certify is a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate without further inquiry); (c) that does not constitute a material part of the Collateral; (d) as required to effect any sale or other disposition that is owned by an Obligor that is released from its obligations under the Loan Documents in accordance with the terms of Collateral in connection with any exercise of remedies of Agent pursuant to the Security Loan Documents; or (e) subject to Section 14.1, with the written consent of the Required Lenders. Lenders hereby Secured Parties authorize Agent to execute and deliver subordinate its Liens to any instruments, documents and agreements necessary Purchase Money Lien or desirable other Lien entitled to evidence and confirm priority hereunder. Secured Parties authorize Agent to release any Obligor from its obligations under the release Loan Documents if such Person is no longer required to be an Obligor as a result of any Collateral pursuant to a transaction permitted under the foregoing provisions of this paragraph, all without the further consent or joinder of any LenderLoan Documents. Agent shall have has no obligation whatsoever to any Lenders to assure that any Collateral exists or is owned by a Borroweran Obligor, or is cared for, protected, insured protected or encumberedinsured, nor to assure that Agent’s Liens have been properly created, perfected or 133315237_8 enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 1 contract

Samples: Guaranty and Security Agreement (Inari Medical, Inc.)

Lien Releases; Care of Collateral. Lenders Secured Parties authorize Agent to release any Lien with respect to on any Collateral (a) upon Full Payment of the Obligations; (b) that is the subject of an Asset Disposition which Borrowers certify a disposition or Lien that Borrower certifies in writing to Agent is a Permitted Asset Disposition Sale or a Lien which Borrowers certify is a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate without further inquiry); (c) that does not constitute a material part of the Collateral; or (d) as required subject to effect any sale or other disposition of Collateral in connection with any exercise of remedies of Agent pursuant to the Security Documents; or (e) Section 15.1, with the written consent of the Required Lenders. Lenders hereby Secured Parties authorize Agent to execute and deliver subordinate its Liens to any instruments, documents and agreements necessary Purchase Money Lien or desirable other Lien entitled to evidence and confirm the release of any Collateral pursuant to the foregoing provisions of this paragraph, all without the further consent or joinder of any Lenderpriority hereunder. Agent shall have has no obligation whatsoever to any Lenders to assure that any Collateral exists or is owned by a Borroweran Obligor, or is cared for, protected, insured protected or encumberedinsured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral. To the extent required under the laws of any foreign jurisdiction, each Secured Party hereby grants to Agent any required power of attorney to take any action with respect to Collateral or to execute any Loan Document on the Secured Party’s behalf.

Appears in 1 contract

Samples: Loan and Security Agreement (Stonemor Inc.)

Lien Releases; Care of Collateral. Lenders Secured Parties authorize Agent to release any Lien with respect to on any Collateral (a) upon Full Payment of the Obligations; (b) that is the subject of an Asset Disposition which a disposition or Lien that Borrowers certify in writing to Agent is a Permitted Asset Disposition or a Lien which Borrowers certify is a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate without further inquiry); (c) that does not constitute a material part of the Collateral; or (d) as required subject to effect any sale or other disposition of Collateral in connection with any exercise of remedies of Agent pursuant to the Security Documents; or (e) Section 14.1, with the written consent of the Required Lenders. Lenders hereby Secured Parties authorize Agent to execute and deliver subordinate its Liens to any instruments, documents and agreements necessary Purchase Money Lien or desirable other Lien entitled to evidence and confirm the release of any Collateral pursuant to the foregoing provisions of this paragraph, all without the further consent or joinder of any Lenderpriority hereunder. Agent shall have has no obligation whatsoever to any Lenders to assure that any Collateral exists or is owned by a Borroweran Obligor, or is cared for, protected, insured protected or encumberedinsured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral. In respect of any U.K. Security Document, the Agent shall not have any obligation or duty to any person for any loss suffered as a result of: (i) the lack or inadequacy of any insurance; or (ii) the failure of the Agent to notify the insurers of any material fact relating to the risk assumed by them, or of any other information of any kind, unless Required Lenders have requested it to do so in writing and the Agent has failed to do so within fourteen (14) days after receipt of that request.

Appears in 1 contract

Samples: Loan and Security Agreement (Mynd.ai, Inc.)

Lien Releases; Care of Collateral. Lenders authorize Agent to release any Lien with respect to any Collateral (a) upon Full Payment of the Obligations; (b) that is the subject of an Asset Disposition which Borrowers certify in writing to Agent is a Permitted Asset Disposition or a Lien which Borrowers certify is a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate without further inquiry); (c) that does not constitute a material part of the Collateral; (d) as required to effect any sale or other disposition of Collateral in connection with any exercise of remedies of Agent pursuant to the Security Documents; or (e) with the written consent of the Required Lenders. Lenders hereby authorize Agent to execute and deliver any instruments, documents and agreements necessary or desirable to evidence and confirm the release of any Collateral pursuant to the foregoing provisions of this paragraph, all without the further consent or joinder of any Lender. Agent shall have no obligation whatsoever to any Lenders to assure that any Collateral exists or is owned by a Borrower, or is cared for, protected, insured or encumbered, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral. 12.2.2.

Appears in 1 contract

Samples: Loan and Security Agreement (Commercial Vehicle Group, Inc.)

Lien Releases; Care of Collateral. Lenders (a) Secured Parties authorize Agent to release any Lien with respect to on any Collateral (ai) upon Full Payment of the Obligations; (bii) that is the subject of an Asset Disposition which a disposition or Lien that Borrowers certify in writing to Agent is a Permitted an Asset Disposition Sale permitted hereunder or a Lien which Borrowers certify is a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate without further inquiry); (ciii) that does not constitute a material part of the Collateral; (d) as required to effect any sale or other disposition of Collateral in connection with any exercise of remedies of Agent pursuant to the Security Documents; or (eiv) subject to Section 14.1, with the written consent of the Required Lenders. Lenders hereby Secured Parties authorize Agent to execute and deliver subordinate its Liens to any instruments, documents and agreements necessary or desirable Lien entitled to evidence and confirm the release of any Collateral pursuant to the foregoing provisions of this paragraph, all without the further consent or joinder of any Lenderpriority hereunder. Agent shall have has no obligation whatsoever to any Lenders to assure that any Collateral exists or is owned by a Borroweran Obligor, or is cared for, protected, insured protected or encumberedinsured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral. Agent shall execute and deliver to Borrowers releases and other instruments as may be necessary to terminate Agent’s Lien in the Collateral pursuant to clauses (i), (ii), (iii) or (iv) of this Section 12.2.1 and deliver to Borrowers, or such other Person as Borrowers may reasonably request of Agent, any Collateral, if any, that is held in Agent’s possession.

Appears in 1 contract

Samples: Loan and Security Agreement (Amkor Technology, Inc.)

Lien Releases; Care of Collateral. Lenders Secured Parties authorize Agent to release any Lien with respect to on any Collateral (a) upon Full Payment of the Obligations; (b) that is the subject of an Asset Disposition which Borrowers certify a disposition or Lien that Borrower Agent certifies in writing to Agent is a Permitted Asset Disposition or a Lien which Borrowers certify is a Permitted Lien entitled to priority over Agent’s 's Liens (and Agent may rely conclusively on any such certificate without further inquiry); (c) that does not constitute a material part of the Collateral; (d) as required to effect any sale or other disposition that is owned by an Obligor that is released from its obligations under the Loan Documents in accordance with the terms of Collateral in connection with any exercise of remedies of Agent pursuant to the Security Loan Documents; or (e) subject to Section 14.1, with the written consent of the Required Lenders. Lenders hereby Secured Parties authorize Agent to execute and deliver release any instruments, documents and agreements necessary Obligor from its obligations under the Loan Documents if such Person is no longer required to be an Obligor as a result of a transaction permitted under the Loan Documents. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or desirable other Lien entitled to evidence and confirm the release of any Collateral pursuant to the foregoing provisions of this paragraph, all without the further consent or joinder of any Lenderpriority hereunder. Agent shall have has no obligation whatsoever to any Lenders to assure that any Collateral exists or is owned by a Borroweran Obligor, or is cared for, protected, insured protected or encumberedinsured, nor to assure that Agent’s 's Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.. To the extent required under the laws of any foreign jurisdiction, each Secured Party hereby grants to Agent any required power of attorney to take any action with respect to Collateral or to execute any Loan Document on the Secured Party's behalf. Table of Contents

Appears in 1 contract

Samples: Loan and Security Agreement (Rocky Brands, Inc.)

Lien Releases; Care of Collateral. Lenders Secured Parties authorize Agent to release any Lien with respect to on any Collateral (a) upon Full Payment of the ObligationsPayment; (b) that is the subject of an Asset Disposition which Borrowers certify a disposition or Lien that Parent certifies in writing to Agent is a Permitted Asset Disposition or a Lien which Borrowers certify is a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate without further inquiry); (c) that does not constitute a material part of the Collateral; or (d) as required subject to effect any sale or other disposition of Collateral in connection with any exercise of remedies of Agent pursuant to the Security Documents; or (e) Section 14.1, with the written consent of the Required Lenders. Lenders Secured Xxxxxxxx – Loan, Security and Guaranty Agreement #53354946 EXECUTION VERSION Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien entitled to priority under this Agreement. Secured Parties hereby authorize Agent to execute and deliver any instruments, documents and agreements necessary or desirable to evidence and confirm the release of any Collateral Collateral, or the subordination of the Lien encumbering any Collateral, pursuant to the foregoing provisions of this paragraph, all without the further consent or joinder of any Lender. Agent shall have has no obligation whatsoever to any Lenders to assure that any Collateral exists or is owned by a Borroweran Obligor, or is cared for, protected, insured protected or encumberedinsured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 1 contract

Samples: Loan, Security and Guaranty Agreement (Quintana Energy Services Inc.)

Lien Releases; Care of Collateral. Lenders Secured Parties authorize Agent to release any Lien with respect to on any Collateral (a) upon Full Payment of the Obligations; (b) that is the subject of an Asset Disposition which Borrowers a disposition or Lien that Obligors certify in writing to Agent is a Permitted Asset Disposition or a Lien which Borrowers certify is a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate without further inquiry); (c) that does not constitute a material part of the Collateral; or (d) as required subject to effect Section 15.1, with the consent of the applicable Required Lenders. Secured Parties authorize Agent to subordinate its Liens to any sale Purchase Money Lien or other disposition of Collateral in connection with any exercise of remedies of Lien entitled to priority hereunder or to the extent such Lien is permitted to be released by the Agent pursuant to the Security Documents; this Section, including, release or (e) with the written consent subordination of Liens of the Required Lenders. Lenders hereby authorize Agent to execute and deliver any instruments, documents and agreements necessary on Accounts assigned or desirable to evidence and confirm the release of any Collateral sold pursuant to the foregoing provisions of this paragraph, all without the further consent or joinder of any Lenderan Approved Supplier Finance Arrangement. Agent shall have has no obligation whatsoever to any Lenders to assure that any Collateral exists or is owned by a Borroweran Obligor, or is cared for, protected, insured protected or encumberedinsured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Innerworkings Inc)

Lien Releases; Care of Collateral. The Lenders authorize the Agent to release or subordinate any Lien with respect to any Collateral (a) upon Full Payment of the Obligations; , (b) that is the subject of an Asset Disposition Sale, transfer, sale, lease, or other LOAN AND SECURITY AGREEMENT disposition permitted by this Agreement which the Borrowers certify in writing to the Agent is a Permitted Asset Disposition permitted pursuant to the terms of this Agreement or is subject to a Lien which the Borrowers certify is a Permitted Lien entitled to priority over the Agent’s 's Liens pursuant to the terms of this Agreement (and the Agent may rely conclusively on any such certificate without further inquiry); , (c) that does not constitute a material part of the Collateral; , or (d) as required to effect any sale or other disposition of Collateral in connection with any exercise of remedies of Agent pursuant to the Security Documents; or (e) with the written consent of the Required Lenders. Lenders hereby authorize Agent to execute and deliver any instruments, documents and agreements necessary or desirable to evidence and confirm the release of any Collateral pursuant to the foregoing provisions of this paragraph, all without the further consent or joinder of any Lender. The Agent shall have no obligation whatsoever to any Lenders to assure that any Collateral exists or is owned by a Borrower, or is cared for, protected, insured insured, or encumbered, nor to assure that the Agent’s 's Liens have been properly created, perfected perfected, or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral. Each of the Lenders hereby directs the Agent to execute and deliver or file such termination statements and partial release statements and do such things as are necessary to release or subordinate any Liens to be released or subordinated pursuant to this Section 12.2.1 upon the effectiveness of such release.

Appears in 1 contract

Samples: Loan and Security Agreement (Amkor Technology Inc)

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