Release from Collateral Sample Clauses

Release from Collateral. (a) On each date on which payment is made (or deemed to have been made) of any principal amount of the Note (a "Principal Payment Date"), the following number of Acquired Shares (and related collateral) shall be released from collateral: the number of Acquired Shares held in the Trust as collateral immediately prior to the Principal Payment Date multiplied by a fraction, the numerator of which is the amount of the principal payment made (or deemed to have been made) on such date and the denominator of which is the principal amount of the Note outstanding immediately prior to such principal payment. The Trustee may confirm with the Committee the number of Acquired Shares to be released, and if it does so, it may rely upon such confirmation. The shares of Common Stock and related collateral released pursuant to this Section 3.2 shall thereafter be available for application by the Trustee for the purposes specified in Section 3.1 above. Any shares of Common Stock subsequently acquired by the Trust which do not constitute collateral for any borrowing of the Trust shall become available for use under Section 3.2(b) in the same proportion as the Acquired Shares are released from collateral, as described above. (b) The shares of Common Stock released from collateral (or otherwise becoming available for use hereunder) at any time (1) first, shall be transferred to the Administrator (as hereinafter defined) of the Stock Purchase Plans (as defined in Section 4.4(a) hereof) to the extent necessary to satisfy the Company's obligations under the Stock Purchase Plans, (2) second, to the extent such shares of Common Stock remain after the transfer provided for in clause (1), shall be transferred to the Administrator of the Stock Option Plan (as defined in Section 4.4(a) hereof) to the extent necessary to satisfy the Company's obligations under the Stock Option Plan, and (3) thereafter, to the extent such shares of Common Stock remain after the transfers provided for in clauses (1) and (2), shall be transferred to the Director (as hereinafter defined) or Administrators to satisfy the Company's obligations under such Plans as determined by the Committee (as hereinafter defined), taking into account the best interests of a broad cross-section of Participants. (c) The Committee shall inform the Trustee in writing of how many shares are required to fund the obligations referred to in clauses (1),(2) and (3) of Section 3.2(b) above. The Trustee may rely upon written instructio...
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Release from Collateral. The Buyer shall procure that the Seller and the Seller's Affiliates, as the case may be, are released from any collateral not exceeding DM
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Release from Collateral. On each Principal Payment Date, the ----------------------- following number of Acquired Shares (and related collateral) shall be released from collateral: The number of Acquired Shares held in the Trust as collateral for that indebtedness immediately prior to the Principal Payment Date shall be multiplied by a fraction, the numerator of which is the amount of the principal payment made (or deemed to have been made) on such date and the denominator of which is the principal amount of that indebtedness outstanding immediately prior to such principal payment.
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Release from Collateral. On each date on which payment is made (or deemed to have been made) of any principal amount of the Note (a "Principal Payment Date"), the following number of Acquired Shares (and related collateral) shall be released from collateral: the number of Acquired Shares held in the Trust as collateral immediately prior to the Principal Payment Date multiplied by a fraction, the numerator of which is the amount of the principal payment made (or deemed to have been made) on such date and the denominator of which is the principal amount of the Note outstanding immediately prior to such principal payment. Any shares of SF Securities subsequently acquired by the Trust with borrowed funds or other indebtedness of the Trust (and related collateral) shall be released from collateral in a manner consistent with the immediately preceding sentence. The Acquired Shares, SF Securities and related collateral released pursuant to this Section 3.2 (the "Released Collateral") shall be contributed to the trust established under a Plan or, in the case of any Plan under which no trust has been established, directly to Participants (or Beneficiaries, if appropriate) in accordance with the directions of the Company. Upon receiving directions from the Company, the Trustee shall sell any Released Collateral and transfer the proceeds of such sale to the trust established under such Plan or, in the case of any Plan under which no trust has been established, to such Plan's Participants (or Beneficiaries, if appropriate). Any such sale shall be made in the manner which the Trustee determines will produce the greatest yield (after transaction costs), and may be made in the open market or in a private transaction, including (with the Company's consent) a sale to the Company.
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Release from Collateral. Any Option Shares purchased by a Grantee pursuant to Section 2 shall be released from the Collateral (as defined in the Pledge Agreement) pledged pursuant to the Pledge Agreement.
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Related to Release from Collateral

  • Release from Escrow (1) The Shareholder irrevocably directs the Escrow Agent to retain the Shares until the Shares are released from escrow pursuant to subsection (2) or surrendered for cancellation pursuant to section 8. (2) The Escrow Agent shall not release the Shares from escrow unless the Escrow Agent has received a letter from the Superintendent or the Exchange consenting to the release. (3) The approval of the Superintendent or the Exchange to a release from escrow of any of the Shares shall terminate this agreement only in respect of the Shares so released.

  • Release from Contract An employee under contract shall be released from the obligations of the contract upon request under the following conditions:

  • FREE FROM LIENS Lessee shall keep the subject Premises and the property in which the subject Premises are situated, free from any and all liens including but not limited to liens arising out of any work performed, materials furnished, or obligations incurred by Lessee. However, the Lessor shall allow Lessee to contest a lien claim, so long as the claim is discharged prior to any foreclosure proceeding being initiated against the property and provided Lessee provides Lessor a bond if the lien exceeds $5,000.

  • 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 from Liability Contractor generally releases from liability and waives all claims against any party providing information about the Contractor at the request of System Agency.

  • Retention of Collateral In addition to the rights and remedies hereunder, the Administrative Agent may, in compliance with Sections 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable Law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.

  • Certain After-Acquired Collateral Borrowers shall promptly notify Agent in writing if, after the Closing Date, any Borrower obtains any interest in any Collateral consisting of Deposit Accounts, Chattel Paper, Documents, Instruments, Intellectual Property, Investment Property or Letter-of-Credit Rights and, upon Agent’s request, shall promptly take such actions as Agent deems appropriate to effect Agent’s duly perfected, first priority Lien upon such Collateral, including obtaining any appropriate possession, control agreement or Lien Waiver. If any Collateral is in the possession of a third party, at Agent’s request, Borrowers shall obtain an acknowledgment that such third party holds the Collateral for the benefit of Agent.

  • Condition of Collateral Secured Party has no obligation to repair, clean-up or otherwise prepare the Collateral for sale.

  • Investment of Escrow Funds The Escrow Agent shall deposit the Escrow Funds in a non-interest bearing money market account. If Escrow Agent has not received a Joint Written Direction at any time that an investment decision must be made, Escrow Agent may retain the Escrow Fund, or such portion thereof, as to which no Joint Written Direction has been received, in a non-interest bearing money market account.

  • Possessory Collateral Immediately upon Borrower's receipt of any portion of the Collateral evidenced by an agreement, Instrument or Document, including, without limitation, any Tangible Chattel Paper and any Investment Property consisting of certificated securities, Borrower shall deliver the original thereof to Lender together with an appropriate endorsement or other specific evidence of assignment thereof to Lender (in form and substance acceptable to Lender). If an endorsement or assignment of any such items shall not be made for any reason, Lender is hereby irrevocably authorized, as Borrower's attorney and agent-in-fact, to endorse or assign the same on Borrower's behalf.

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