No Lien Termination without Release. In recognition of SYSTRAN’s right to have its attorneys’ fees and other expenses incurred in connection with this Agreement secured by the Collateral, notwithstanding payment in full of all Obligations by Customer, SYSTRAN shall not be required to record any terminations or satisfactions of any of SYSTRAN’s liens on the Collateral unless and until Customer has executed and delivered to SYSTRAN a general release in a form reasonably satisfactory to SYSTRAN. Customer understands that this provision constitutes a waiver of its rights under §9-404 of the UCC.
Appears in 3 contracts
Samples: Post Petition Factoring Agreement (Gasel Transportation Lines Inc), Post Petition Factoring Agreement (Gasel Transportation Lines Inc), Factoring Agreement (Gasel Transportation Lines Inc)
No Lien Termination without Release. In recognition of SYSTRAN’s right to have its attorneys’ fees and other expenses incurred in connection with this Agreement secured by the Collateral, notwithstanding payment in full of all Obligations by Customer, SYSTRAN shall not be required to record any terminations or satisfactions of any of SYSTRAN’s liens on the Collateral unless and until Customer has executed and delivered to SYSTRAN a general release in a form reasonably satisfactory to SYSTRAN. Customer understands that this provision constitutes a waiver of its rights under §9-404 513 of the UCC.
Appears in 2 contracts
Samples: Factoring Agreement (Crdentia Corp), Factoring Agreement (Crdentia Corp)
No Lien Termination without Release. In recognition of SYSTRAN’s 's right to have its attorneys’ ' fees and other expenses incurred in connection with this Agreement secured by the Collateral, notwithstanding payment in full of all Obligations by Customer, SYSTRAN shall not be required to record any terminations or satisfactions of any of SYSTRAN’s 's liens on the Collateral unless and until Customer has executed and delivered to SYSTRAN a general release in a form reasonably satisfactory to SYSTRAN. Customer understands that this provision constitutes a waiver of its rights under §9ss.9-404 of the UCC.
Appears in 1 contract
Samples: Factoring Agreement (Dyntek Inc)
No Lien Termination without Release. In recognition of SYSTRAN’s 's right to have its attorneys’ ' fees and other expenses incurred in connection with this Agreement secured by the Collateral, notwithstanding payment in full of all Obligations by Customer, SYSTRAN shall not be required to record any terminations or satisfactions of any of SYSTRAN’s 's liens on the Collateral unless and until Customer has executed and delivered to SYSTRAN a general release in a form reasonably satisfactory to SYSTRAN. Customer understands that this provision constitutes a waiver of its rights under §9-404 513 of the UCC.
Appears in 1 contract
