Common use of Pledge release Clause in Contracts

Pledge release. (a) In accordance with the Interim PIK Facility Agreement; or (b) once all the Secured Liabilities have been repaid in full and none of the Interim Finance Parties has any actual or contingent obligation under or in connection with the Interim Finance Documents, the Pledge shall, to the extent permitted by law, be released and discharged and, in all cases, at the request and cost of the Pledgor, the Pledgee shall, as soon as reasonably practicable after receipt of that request, release and discharge (as appropriate) the Pledged Assets from the Pledge, in accordance with the provisions of the Interim PIK Facility Agreement. If after the release of the Pledge, any payment made by the Pledgor in respect of the Secured Liabilities is declared null and void, the Pledgor shall immediately grant a new pledge over the Pledged Assets, subject to the same terms and conditions as the Pledge, until the Secured Liabilities have been irrevocably and unconditionally paid and discharged in full.

Pledge release. (a) In accordance with the Interim PIK Facility Facilities Agreement; or (b) once all the Secured Liabilities have been repaid in full and none of the Interim Finance Parties has any actual or contingent obligation under or in connection with the Interim Finance Documents, the Pledge shall, to the extent permitted by law, be released and discharged and, in all cases, at the request and cost of the Pledgor, the Pledgee shall, as soon as reasonably practicable after receipt of that request, release and discharge (as appropriate) the Pledged Assets from the Pledge, in accordance with the provisions of the Interim PIK Facility Facilities Agreement. If after the release of the Pledge, any payment made by the Pledgor in respect of the Secured Liabilities is declared null and void, the Pledgor shall immediately grant a new pledge over the Pledged Assets, subject to the same terms and conditions as the Pledge, until the Secured Liabilities have been irrevocably and unconditionally paid and discharged in full.

Pledge release. (a) In accordance with the Interim PIK Facility Agreement; or (b) once all the Secured Liabilities have been repaid in full and none of the Interim Finance Parties has any actual or contingent obligation under or in connection with the Interim Finance Documents, the Pledge shall, to the extent permitted by law, be released and discharged and, in all cases, at the request and cost of the Pledgor, the Pledgee shall, as soon as reasonably practicable after receipt of that request, release and discharge (as appropriate) the Pledged Assets from the Pledge, in accordance with the provisions of the Interim PIK Facility Agreement. If after the release of the Pledge, any payment made by the Pledgor Company in respect of the Secured Liabilities is declared null and void, the Pledgor shall immediately grant a new pledge over the Pledged Assets, subject to the same terms and conditions as the Pledge, until the Secured Liabilities have been irrevocably and unconditionally paid and discharged in full.

Pledge release. (a) In accordance with the Interim PIK Facility Agreement; or (b) once all the Secured Liabilities have been repaid in full and none of the Interim Finance Parties has any actual or contingent obligation under or in connection with the Interim Finance Documents, the Pledge shall, to the extent permitted by law, be released and discharged and, in all cases, at the request and cost of the Pledgor, the Pledgee shall, as soon as reasonably practicable after receipt of that request, release and discharge (as appropriate) the Pledged Assets Claims from the Pledge, in accordance with the provisions of the Interim PIK Facility Agreement. If after the release of the Pledge, any payment made by the Pledgor in respect of the Secured Liabilities is declared null and void, the Pledgor shall immediately grant a new pledge over the Pledged AssetsClaims, subject to the same terms and conditions as the Pledge, until the Secured Liabilities have been irrevocably and unconditionally paid and discharged in full.

Pledge release. (a) In accordance with the Interim PIK Facility Facilities Agreement; or (b) once all the Secured Liabilities have been repaid in full and none of the Interim Finance Parties has any actual or contingent obligation under or in connection with the Interim Finance Documents, the Pledge shall, to the extent permitted by law, be released and discharged and, in all cases, at the request and cost of the Pledgor, the Pledgee shall, as soon as reasonably practicable after receipt of that request, release and discharge (as appropriate) the Pledged Assets Claims from the Pledge, in accordance with the provisions of the Interim PIK Facility Facilities Agreement. If after the release of the Pledge, any payment made by the Pledgor in respect of the Secured Liabilities is declared null and void, the Pledgor shall immediately grant a new pledge over the Pledged AssetsClaims, subject to the same terms and conditions as the Pledge, until the Secured Liabilities have been irrevocably and unconditionally paid and discharged in full.

Pledge release. (a) In accordance with the Interim PIK Facility Facilities Agreement; or (b) once all the Secured Liabilities have been repaid in full and none of the Interim Finance Parties has any actual or contingent obligation under or in connection with the Interim Finance Documents, the Pledge shall, to the extent permitted by law, be released and discharged and, in all cases, at the request and cost of the Pledgor, the Pledgee shall, as soon as reasonably practicable after receipt of that request, release and discharge (as appropriate) the Pledged Assets from the Pledge, in accordance with the provisions of the Interim PIK Facility Facilities Agreement. If after the release of the Pledge, any payment made by the Pledgor Company in respect of the Secured Liabilities is declared null and void, the Pledgor shall immediately grant a new pledge over the Pledged Assets, subject to the same terms and conditions as the Pledge, until the Secured Liabilities have been irrevocably and unconditionally paid and discharged in full.