Partial Release of Facility Collateral. Provided that no Event of Default shall then exist, the Lender shall, in connection with any Disposition of any Facility Collateral permitted under this Loan Agreement (other than dispositions of Facility Collateral between and among Secured Loan Parties), release from the Lien of the Loan Documents the portion of the Facility Collateral Disposed of, upon the applicable Loan Parties’ satisfaction of each of the following conditions:
Appears in 3 contracts
Samples: Loan Agreement, Loan Agreement (Chrysler Group LLC), Loan Agreement (Chrysler Group LLC)
Partial Release of Facility Collateral. Provided that no Event of Default shall then exist, the Lender shall, in connection with any Disposition of any Facility Collateral permitted under this Loan Agreement (other than dispositions Dispositions of Facility Collateral (i) between and among Secured Loan PartiesParties and Pledged Entities and (ii) pursuant to any GMAC Trust Disposition), release from the Lien of the Loan Documents the portion of the Facility Collateral Disposed of, upon the applicable Loan Parties’ satisfaction of each of the following conditions:
Appears in 2 contracts
Samples: Loan and Security Agreement, Loan and Security Agreement (General Motors Corp)
Partial Release of Facility Collateral. Provided that no Event of Default shall then exist, the Lender shall, in connection with any Disposition of any Facility Collateral permitted under this Loan Agreement (other than dispositions of Facility Collateral between and among Secured Loan PartiesParties and Pledged Entities), release from the Lien of the Loan Documents the portion of the Facility Collateral Disposed of, upon the applicable Loan Parties’ satisfaction of each of the following conditions:
Appears in 1 contract