Common use of Partial Releases Clause in Contracts

Partial Releases. The Lender agrees, provided always that no Default ---------------- shall have occurred and be continuing, as promptly as is practicable after ___________ in each year (the period commencing on the date hereof and ending ___________ in each subsequent 12-month period ending on ___________ being hereinafter referred to as a "Plan Year"), to release that number of Pledged Shares then being held to secure the Loan which is equal to the number of such Pledged Shares held as of the last day of the Plan Year multiplied by a fraction, the numerator of which is the aggregate amount of all principal and interest payments made on the Note during the Plan Year and the denominator of which is the sum of the numerator plus the unpaid principal and interest of the Note as of the last day of such Plan Year.

Partial Releases. The Lender agrees, provided always that no Default ---------------- or Event of Default shall have occurred and be continuing, as promptly as is practicable after ______________ in each year (the period commencing on the date hereof ___________ and ending ___________ in and each subsequent 12-month period ending on ___________ being hereinafter referred to as a "Plan Year"), to release that number of Pledged Shares then being held to secure the Loan which is equal to the number of such Pledged Shares held as of the last day of the Plan Year multiplied by a fraction, the numerator of which is the aggregate amount of all principal and interest payments made on the Note during the Plan Year and the denominator of which is the sum of the numerator plus the unpaid principal and interest of the Note as of the last day of such Plan Year.

Partial Releases. The Lender agrees, provided always that no ---------------- Default ---------------- or Event of Default shall have occurred and be continuing, as promptly as is practicable after _after__________ in each year (the period commencing on the date hereof and ending commencing_____________ in and ending______________ and each subsequent 12-month period ending on on_______________ being hereinafter referred to as a "Plan Year"), to release that number of Pledged Shares then being held to secure the Loan which is equal to the number of such Pledged Shares held as of the last day of the Plan Year multiplied by a fraction, the numerator of which is the aggregate amount of all principal and interest payments made on the Note during the Plan Year and the denominator of which is the sum of the numerator plus the unpaid principal and interest of the Note as of the last day of such Plan Year.

Partial Releases. The Lender agrees, provided always that no Default ---------------- ----------------- or Event of Default shall have occurred and be continuing, as promptly as is practicable after ________________ in each year (the period commencing on the date hereof __________________ and ending ___________ in ___, 1998 and each subsequent 12-month period ending on ____________ being hereinafter herein after referred to as a "Plan Year"), to release that number of Pledged Shares then being held to secure the Loan which is equal to the number of such Pledged Shares held as of the last day of the Plan Year multiplied by a fraction, the numerator of which is the aggregate amount of all principal and interest payments made on the Note during the Plan Year and the denominator of which is the sum of the numerator plus the unpaid principal and interest of the Note as of the last day of such Plan Year.

Partial Releases. The Lender agrees, provided always that no Default ---------------- or Event of Default shall have occurred and be continuing, as promptly as is practicable after _____________ in each year (the period commencing on the date hereof _______________ and ending ___________ in ___, 1997 and each subsequent 12-month period ending on _____________ being hereinafter referred to as a "Plan Year"), to release that number of Pledged Shares then being held to secure the Loan which is equal to the number of such Pledged Shares held as of the last day of the Plan Year multiplied by a fraction, the numerator of which is the aggregate amount of all principal and interest payments made on the Note during the Plan Year and the denominator of which is the sum of the numerator plus the unpaid principal and interest of the Note as of the last day of such Plan Year.

Partial Releases. The Lender agrees, provided always that no Default ---------------- shall have occurred and be continuing, as promptly as is practicable after _after__________ in each year (the period commencing on the date hereof and ending commencing_____________ in and ending______________ and each subsequent 12-month period ending on on_______________ being hereinafter referred to as a "Plan Year"), to release that number of Pledged Shares then being held to secure the Loan which is equal to the number of such Pledged Shares held as of the last day of the Plan Year multiplied by a fraction, the numerator of which is the aggregate amount of all principal and interest payments made on the Note during the Plan Year and the denominator of which is the sum of the numerator plus the unpaid principal and interest of the Note as of the last day of such Plan Year.

Partial Releases. The Lender agrees, provided always that no Default ---------------- or Event of Default shall have occurred and be continuing, as promptly as is practicable after _after__________ in each year (the period commencing on the date hereof commencing__________ and ending ending____________ in and each subsequent 12-month period ending on __on_________ being hereinafter referred to as a "Plan Year"), to release that number of Pledged Shares then being held to secure the Loan which is equal to the number of such Pledged Shares held as of the last day of the Plan Year multiplied by a fraction, the numerator of which is the aggregate amount of all principal and interest payments made on the Note during the Plan Year and the denominator of which is the sum of the numerator plus the unpaid principal and interest of the Note as of the last day of such Plan Year.

Partial Releases. The Lender agrees, provided always that no Default ---------------- shall have occurred and be continuing, as promptly as is practicable after after______________ in each year (the period commencing on the date hereof and ending ending________________ in and each subsequent 12-month period ending on on________________ being hereinafter referred to as a "Plan Year"), to release that number of Pledged Shares then being held to secure the Loan which is equal to the number of such Pledged Shares held as of the last day of the Plan Year multiplied by a fraction, the numerator of which is the aggregate amount of all principal and interest payments made on the Note during the Plan Year and the denominator of which is the sum of the numerator plus the unpaid principal and interest of the Note as of the last day of such Plan Year.

Partial Releases. The Lender agreesshall, provided always that no Default ---------------- shall have occurred and be continuing, as promptly as is practicable after ___________ in each year (the period commencing on the date hereof and ending _________________ in each subsequent 12-month period ending on ______________ being hereinafter referred to as a "Plan Year"), to release that number of Pledged Shares then being held to secure the Loan which is equal to the number of such Pledged Shares held as of the last day of the Plan Year multiplied by a fraction, the numerator of which is the aggregate amount of all principal and interest payments made on the Note during the Plan Year and the denominator of which is the sum of the numerator plus the unpaid principal and interest of the Note as of the last day of such Plan Year.

Partial Releases. The Lender agrees, provided always that no Default ---------------- ----------------- or Event of Default shall have occurred and be continuing, as promptly as is practicable after _____________ in each year (the period commencing on the date hereof and ending ___________ in each subsequent 12-month period and ending on ________________ being hereinafter herein after referred to as a "Plan Year"), to release that number of Pledged Shares then being held to secure the Loan which is equal to the number of such Pledged Shares held as of the last day of the Plan Year multiplied by a fraction, the numerator of which is the aggregate amount of all principal and interest payments made on the Note during the Plan Year and the denominator of which is the sum of the numerator plus the unpaid principal and interest of the Note as of the last day of such Plan Year.