Limited Lien Release Sample Clauses

Limited Lien Release. Bank hereby agrees that, following its receipt of a fully executed copy of this Agreement, Bank conditionally releases from the Bank Collateral solely those Specified Accounts Receivable which have been sold by Customer to RCA under the RCA Purchase Agreement. For the avoidance of doubt, (a) RCA disclaims any interest of any nature whatsoever in and to any and all accounts receivable of Customer not otherwise constituting a Specified Account Receivable and (b) Bank shall maintain a security interest in and lien on all of the property of the Customer and the products and proceeds thereof, except for the Specified Accounts Receivable. In the event that a court of competent jurisdiction or governmental authority determines that RCA did not purchase any Specified Accounts Receivable from the Customer, Bank agrees that RCA shall have a security interest in and lien upon such Specified Accounts Receivables and that the Bank shall have no security interest in and lien upon such Specified Accounts Receivables.