RELEASE CLAUSE Sample Clauses

RELEASE CLAUSE. The School Administration of Saint Xxxxxxx School, in consultation with the Pastor and the School Board of Education, reserves the right to amend this handbook when circumstances warrant it. Parents will be promptly notified, in writing, of any such amendment, which will simultaneously be promulgated in an announcement to all students. APPENDIX A DIOCESE OF HARRISBURG – SECRETARIAT FOR EDUCATION 0000 Xxxxx Xxxxxxx Xxxx  Harrisburg  Pennsylvania 17111-3710 (000) 000-0000 • FAX (000) 000-0000  xxx.xxxxxxxxxx.xxx
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RELEASE CLAUSE. ARTIST will be granted a release from contracted date with written or faxed notice (With respect but not limited to 30 Days Notice) for the purpose of furthering the ARTIST’s career such as but not limited to the following: TV, movie, concert tours, videotaping, and record promotion. Should ARTIST cancel all monies received will be returned. Should ARTIST cancel performance for reasons beyond their control he/or she shall not incur any liability from such failure but shall make all reasonable efforts to remedy such default or return all monies unearned with no further cost or penalty to either party.
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RELEASE CLAUSE. At the request of the buyer, the seller undertakes to release the securities to which he is entitled according to the above conditions at his discretion if the realisable value of the securities exceeds the claims to be secured by more than 20%.
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RELEASE CLAUSE. Notwithstanding any other provision in this lease to the contrary, at the expiration of the primary term of this lease or, if later, the end of the extended period provided below, this lease shall terminate SAVE AND EXCEPT the interest of Lessee in and to that part of the leased premises allocated to each proration unit upon which a producing well is located in accordance with the acreage limitation provided in Paragraph 17 A; and further SAVE AND EXCEPT that part of the leased premises included in a pooled unit in accordance with Paragraphs 17 and 17 A upon which a producing oil or producing gas well is located; and further SAVE AND EXCEPT the interest of Lessee under each such retained tract from the surface to one hundred feet (100') below the stratigraphic equivalent of the base of the then deepest producing formation in which the Lessee has an interest, together with acreage around such wellbore that corresponds with the formula set forth above. For the purposes of this Paragraph 18, the point of production for purposes of determining the amount of acreage which Lessee may allocate to each well shall be the deepest producing perforation at the date release or partial release are called for in this paragraph and at that time, the acre designations may be increased by a ten per cent (10%) tolerance. Notwithstanding the above, in the event the Railroad Commission of Texas (or other governmental authority having jurisdiction) requires, as opposed to permits, pursuant to applicable field rules, the allocation of larger or smaller tracts of land or units to any such producing well in order to obtain the maximum production allowable, then this lease shall continue in force and effect as to the amount of acreage surrounding each well required to obtain such full allocation. Lessee shall, upon the expiration of this lease or parts hereof, file of record in the office of the County Clerk of Xxx Xxxxx County, Texas, an instrument releasing this lease insofar as said lease has terminated, specifically describing by metes and bounds the retained tracts surrounding each producing well and the depths which may be retained by the Lessee thereunder. If requested by Lessor, Lessee shall, whether prior to recording such release or later, deliver to Lessor a plat depicting the location of each retained tract along with the log of each well within a retained tract and proof of the depth claimed by Lessee to be retained within each tract. If, on the dates the partial relea...
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RELEASE CLAUSE. At the expiration of the primary term, or upon cessation of the continuous development program, if applicable, this lease shall ipso facto terminate as to all lands covered hereby, SAVE AND EXCEPT one hundred sixty (160) acres surrounding each oil and gas covered lease shall continue in force and effect as to the proration unit surrounding each well required to obtain such full allowable. Lessee shall, within thirty (30) days after the expiration of this lease or parts hereof, file of record in the office of the County Clerk of Webb Xxxnty, Texas, an instrument releasing this lease insofar as said lease has terminated, specifically describing by metes and bounds or other proper legal description the retained unit for each producing well and the depth which may be retained by Lessee thereunder. In the event Lessee shall fail to either designate a unit or units or fail to release acreage and/or horizons of record within sixty (60) days after the expiration of this lease by Lessee filing such designation or release in the Office of the County Clerk of Webb Xxxnty, Texas, then Lessors shall notify the Lessee of its failure and if within thirty (30) days of the date of such written notice by certified mail to Lessee, Lessee does not designate unit or units or release the acreage or horizons by filing a proper instrument in the Office of the County Clerk of Webb Xxxnty, Texas, then Lessor shall make the designation of unit or units or release of acreage and/or horizons by filing the instrument designating the unit or units or release of acreage and/or horizons in the Office of the County Clerk of Webb Xxxnty, Texas, and such designation and/or release by Lessors shall be binding upon the Lessees. 8 At such time as a partial termination of this lease occurs under the provisions of this paragraph, each such retained unit as to which said lease has not terminated shall be considered as a separately leased tract, in the same manner as if Lessor had executed separate and distinct leases covering each such retained unit. Lessee shall not be obligated to protect against drainage, if any, between and among "separately leased tracts". Notwithstanding a partial termination of this lease under the above provisions, it is agreed that Lessee shall have and retain such easements of ingress and egress over those lands originally covered hereby as shall be necessary to enable Lessee to develop and operate the portion or portions of this lease then in effect for the production o...
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Related to RELEASE CLAUSE

  • Acknowledgment of Perfection of Security Interest Each Loan Party hereby acknowledges that, as of the date hereof, the security interests and liens granted to the Administrative Agent and the Lenders under the Credit Agreement and the other Loan Documents are in full force and effect, are properly perfected and are enforceable in accordance with the terms of the Credit Agreement and the other Loan Documents.

  • Release of Collateral Subject to Section 11.01 and the terms of the Basic Documents, the Indenture Trustee shall release property from the lien of this Indenture only upon receipt by it of an Issuer Request accompanied by an Officer’s Certificate, an Opinion of Counsel and Independent Certificates in accordance with TIA Sections 314(c) and 314(d)(1) or an Opinion of Counsel in lieu of such Independent Certificates to the effect that the TIA does not require any such Independent Certificates.

  • Release of Liens and Guarantees In the event that any Loan Party conveys, sells, leases, assigns, transfers or otherwise disposes of all or any portion of its assets (including the Equity Interests of any of its Subsidiaries) to a Person that is not (and is not required to become) a Loan Party in a transaction not prohibited by the Loan Documents, the Administrative Agent and the Collateral Agent shall promptly (and the Lenders hereby authorize the Administrative Agent and the Collateral Agent to) take such action and execute any such documents as may be reasonably requested by the Borrower and at the Borrower’s expense to release any Liens created by any Loan Document in respect of such Equity Interests or assets that are the subject of such disposition and to release any guarantees of the Obligations, and any Liens granted to secure the Obligations, in each case by a Person that ceases to be a Subsidiary of the Borrower as a result of a transaction described above. Any representation, warranty or covenant contained in any Loan Document relating to any such Equity Interests or assets shall no longer be deemed to be made once such Equity Interests or assets are so conveyed, sold, leased, assigned, transferred or disposed of. The Security Documents, the guarantees made therein, the Security Interest (as defined therein) and all other security interests granted thereby shall terminate, and each Loan Party shall automatically be released from its obligations thereunder and the security interests in the Collateral granted by any Loan Party shall be automatically released, when all the Obligations are paid in full in cash and Commitments are terminated (other than (A) contingent indemnification obligations, (B) obligations and liabilities under Secured Cash Management Agreements and Secured Swap Agreements and (C) obligations and liabilities under Revolving Letters of Credit as to which arrangements satisfactory to the Issuing Banks shall have been made). At such time, the Administrative Agent and the Collateral Agent agree to take such actions as are reasonably requested by the Borrower at the Borrower’s expense to evidence and effectuate such termination and release of the guarantees, Liens and security interests created by the Loan Documents.

  • Termination of Security Interests; Release of Collateral Upon payment in full of all Secured Obligations, the Security Interests shall terminate and all rights to the Collateral shall revert to Debtor. Upon such termination of the Security Interest or release of any Collateral, the Secured Party will, at the expense of Debtor, execute and deliver to Debtor such documents as Debtor shall reasonably request to evidence the termination of the Security Interest or the release of such Collateral, as the case may be.

  • Accession to Guaranty The New Guarantor hereby agrees that it is a “Guarantor” under that certain Guaranty dated as of November 20, 2012 (as amended, supplemented, restated or otherwise modified from time to time, the “Guaranty”), made by the Guarantors party thereto in favor of the Administrative Agent, for its benefit and the benefit of the other Guarantied Parties, and assumes all obligations of a “Guarantor” thereunder and agrees to be bound thereby, all as if the New Guarantor had been an original signatory to the Guaranty. Without limiting the generality of the foregoing, the New Guarantor hereby:

  • Release of Liens (i) In the event of (A) any private or public sale of all or any portion of the ABL Priority Collateral in connection with any Exercise of Secured Creditor Remedies by or with the consent of the ABL Agent (other than in connection with a refinancing as described in Section 5.2(c) hereof), or (B) any sale, transfer or other disposition of all or any portion of the ABL Priority Collateral (other than in connection with a refinancing as described in Section 5.2(c) hereof), so long as such sale, transfer or other disposition is then permitted by the ABL Documents or consented to by the requisite ABL Lenders, irrespective of whether an Event of Default has occurred, each of the Term Agents agrees, on behalf of itself and the relevant Term Secured Parties that, so long as such Term Agent, for the benefit of the relevant Term Secured Parties, shall retain a Lien on the proceeds of such sale, transfer or other disposition (to the extent that such proceeds are not applied to the ABL Obligations as provided in Section 4.1(b) hereof), such sale, transfer or other disposition will be free and clear of the Liens on such ABL Priority Collateral (but not the proceeds thereof) securing the Term Obligations, and each of the Term Agents’ and the Term Secured Parties’ Liens with respect to the ABL Priority Collateral (but not the proceeds thereof) so sold, transferred, or disposed shall terminate and be automatically released without further action concurrently with, and to the same extent as, the release of the ABL Secured Parties’ Liens on such ABL Priority Collateral. In furtherance of, and subject to, the foregoing, each Term Agent agrees that it will promptly execute any and all Lien releases or other documents reasonably requested by the ABL Agent in connection therewith. Each Term Agent hereby appoints the ABL Agent and any officer or duly authorized person of the ABL Agent, with full power of substitution, as its true and lawful attorney-in-fact with full irrevocable power of attorney in the place and stead of such Term Agent and in the name of such Term Agent or in the ABL Agent’s own name, from time to time, in the ABL Agent’s sole discretion, for the purposes of carrying out the terms of this paragraph, to take any and all appropriate action and to execute and deliver any and all documents and instruments as may be necessary or desirable to accomplish the purposes of this paragraph, including any financing statements, endorsements, assignments, releases or other documents or instruments of transfer (which appointment, being coupled with an interest, is irrevocable).

  • Authorization to Release Liens and Guarantees The Administrative Agent is hereby irrevocably authorized by each of the Lenders to effect any release of Liens or guarantee obligations contemplated by Section 10.15.

  • Amendments, Waivers and Release of Collateral Neither this Agreement, nor any of the Notes, nor any of the other Credit Documents, nor any terms hereof or thereof may be amended, supplemented, waived or modified except in accordance with the provisions of this Section nor may be released except as specifically provided herein or in the Security Documents or in accordance with the provisions of this Section 9.1. The Required Lenders may, or, with the written consent of the Required Lenders, the Administrative Agent may, from time to time, (a) enter into with the Borrower written amendments, supplements or modifications hereto and to the other Credit Documents for the purpose of adding any provisions to this Agreement or the other Credit Documents or changing in any manner the rights of the Lenders or of the Borrower hereunder or thereunder or (b) waive, on such terms and conditions as the Required Lenders may specify in such instrument, any of the requirements of this Agreement or the other Credit Documents or any Default or Event of Default and its consequences; provided, however, that no such waiver and no such amendment, waiver, supplement, modification or release shall:

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