Partial Release of Security. Effective upon the closing of a disposition of any Collateral to any Person (other than the Borrower or any of its Subsidiaries) and the application of proceeds thereof in conformity with the provisions of this Agreement, the Lien of the Administrative Agent on the assets subject to such disposition shall terminate and upon receipt by the Administrative Agent of a certification to such effect from the chief financial officer of the Borrower, the security interest granted under the Loan Documents in the Collateral so disposed of shall terminate and the Administrative Agent shall deliver such releases as may be appropriate, provided, however, the security interest granted under the Loan Documents in all remaining Collateral shall remain in full force and effect.
Partial Release of Security. In accordance with subsection 17.21.100(C) of the Fruita Municipal Code, upon completion of a certain class of the improvements by the Developer, such as wastewater facilities by way of example, evidenced by a detailed cost breakdown of the completed improvements, the amount of any security issued pursuant to this Agreement may be reduced by up to one hundred percent (100%) of the approved estimated cost for the installation of such class of improvements, upon application of the Developer, and approval by the City. Upon completion of all of the public and other required Subdivision improvements by the Developer, and upon final inspection and approval by the City of all such improvements, the City Council shall further authorize the reduction of the amount of the security guaranteeing the public and other required Subdivision improvements to ten percent (10%) of the total actual cost of such improvements pursuant to subsection 17.21.100(C) of the Fruita Municipal Code.
Partial Release of Security. At the time of Preliminary Acceptance of any specific completed work items listed in Exhibit A, the County shall issue a written release of the Security and the plat restriction provided in Section 3.1. The amount to be released for the completed Subdivision Improvements shall be the total amount of the Security for each completed work item, provided sufficient amounts exist on deposit for completion of the remaining incomplete Subdivision Improvements. A “Warranty Security” in the amount of 15% of the total cost of such work items shall remain on deposit with the County until final acceptance of the completed Subdivision Improvements.
Partial Release of Security. Effective upon the closing of a disposition of any Collateral to any Person (other than the Borrower or any of its Subsidiaries) and the application of proceeds thereof in conformity with the provisions of this Agreement, and receipt by the Agent of a certification to such effect from the chief financial officer of the Borrower, the security interest granted under the Loan Documents in the Collateral so disposed of shall terminate and the Agent shall deliver such releases as may be appropriate, provided, however, the security interest granted under the Loan Documents in all remaining Collateral shall remain in full force and effect.
Partial Release of Security. If the City Engineer is of the opinion that the Works or any portion thereof have been adequately completed, and the Owner's covenants performed in compliance with this Agreement, and if there is no litigation pending or threatened against the City as a result of, or arising from the construction of the Works, the City Engineer may (but is not obligated to), at the request of the Owner's engineer, return a portion of the Security Deposit to the Owner, during the period from the commencement of construction to substantial completion (as evidenced by the Certificate of Substantial Completion). The minimum amount of any security release for any given month will be $10,000.00. The release pursuant to this section 26 will be up to an amount necessary to ensure sufficient Deficiency Security and Warranty Security remain on deposit with the City after substantial completion (as evidenced by the Certificate of Substantial Completion).
Partial Release of Security. 16. In the event that at any time the Engineer’s estimate of the fair estimated cost of completing the works remaining to be performed or completed by Xxxxxx (including 5% of the value of any works in respect of which a defects liability period is current) is less than the amount for which the General Bond is effective as security, the Council must within fourteen (14) days after a request by Xxxxxx in that behalf certify in writing to that effect and immediately thereupon the amount for which the General Bond is effective as security is reduced to the amount of the Engineer’s estimate. Statement of Intent—Mode of Development
Partial Release of Security. Provided that the Developer is not then in Default of any of its material obligations pursuant to Section 6.3.1, after written application and certification to the Board that the Developer is not in Default of Section 6.3.1 and that a particular Developer Work Obligation is fully completed, the Board shall release a portion of the Security securing any particular Developer Work Obligation within twenty one (21) days of the later of:
Partial Release of Security. At the time of Preliminary Acceptance of any specific completed work items listed in Exhibit A, the County shall issue a written release of the Security and the plat restriction provided in Section 3.1. The amount to be released for the completed Subdivision Improvements shall be the total amount of the Security for each completed work item, provided sufficient amounts exist on deposit for completion of the remaining incomplete Subdivision Improvements. A “Guarantee Security” in the amount of 15% of the total cost of such work items shall remain on deposit with the County until Final Acceptance of all completed Subdivision Improvements; provided, however, that the Guarantee Security for ordinary Landscaping shall remain in place for the guarantee period of two years, for Landscaping on 3.33:1 or greater slopes shall remain in place for the guarantee period of three years, and that the Guarantee Security for the Wetlands Mitigation improvements shall remain in place for the guarantee period of five years.
Partial Release of Security. NGC is entitled, but not obliged, to execute at any time a partial release of any part of the Participating Interest from the security created by this Deed.
Partial Release of Security. Effective upon the closing of a disposition of any Collateral to any Person (other than the Borrower or any of its Subsidiaries) and the application of proceeds thereof in conformity with the provisions of this Agreement, the Lien of the Administrative Agent on the assets subject to such disposition shall terminate and effective upon the transfer of the Capital Stock of Greatbatch LLC to Precimed in accordance with a Permitted Maquiladora Restructuring, the Lien of the Administrative Agent on such Capital Stock and on the assets of Greatbatch, LLC shall terminate and, in each case, upon receipt by the Administrative Agent of a certification to such effect from the Chief Financial Officer of the Borrower, the security interest granted under the Loan Documents in the Collateral so disposed of shall terminate and the Administrative Agent shall deliver such releases as may be appropriate, provided, however, the security interest granted under the Loan Documents in all remaining Collateral shall remain in full force and effect.
