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.
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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
Sample 1
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.
Sample 1
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...
Sample 1
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. 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.

  • FREE FROM LIENS Tenant shall keep the Premises, the Building and the Project free from any liens arising out of any work performed, material furnished or obligations incurred by or for Tenant. In the event that Tenant shall not, within ten (10) days following the imposition of any such lien, cause the lien to be released of record by payment or posting of a proper bond, Landlord shall have in addition to all other remedies provided herein and by law the right but not the obligation to cause same to be released by such means as it shall deem proper, including payment of the claim giving rise to such lien. All such sums paid by Landlord and all expenses incurred by it in connection therewith (including, without limitation, attorneys' fees) shall be payable to Landlord by Tenant upon demand. Landlord shall have the right at all times to post and keep posted on the Premises any notices permitted or required by law or that Landlord shall deem proper for the protection of Landlord, the Premises, the Building and the Project, from mechanics' and materialmen's liens. Tenant shall give to Landlord at least five (5) business days' prior written notice of commencement of any repair or construction on the Premises.

  • 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 Upon the disbursement of the Downpayment, together with the interest earned thereon, in accordance with this Agreement, Escrow Agent shall be relieved and released from any liability hereunder.

  • 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.

  • Management of Collateral Subject to the other terms and conditions of this Agreement, each Priority Secured Creditor shall have the exclusive right to manage, perform and enforce the terms of the applicable Obligation Documents with respect to its Priority Collateral, to exercise and enforce all privileges and rights thereunder according to its sole discretion and the exercise of its sole business judgment, including the exclusive right to take or retake control or possession of such Priority Collateral and to hold, prepare for sale, process, Dispose of, or liquidate such Priority Collateral and to incur expenses in connection with such Disposition and to exercise all the rights and remedies of a secured lender under the UCC of any applicable jurisdiction. In conducting any public or private sale under the UCC of its Priority Collateral, the Priority Secured Creditor shall give the Junior Secured Creditor such notice (a “UCC Notice”) of such sale as may be required by the applicable UCC; provided, however, that 10 days’ notice shall be deemed to be commercially reasonable notice. Except as specifically provided in this Section 3.2 or Section 3.4 below, notwithstanding any rights or remedies available to a Junior Secured Creditor under any of the applicable Obligation Documents, applicable law or otherwise, no Junior Secured Creditor shall, directly or indirectly, take any Enforcement Action with respect to Collateral that, as to such Junior Secured Creditor, is Non-Priority Collateral; provided that, subject at all times to the provisions of Section 2, upon the expiration of the applicable Standstill Period, a Junior Secured Creditor (other than any Existing Notes Creditor) may take any Enforcement Action as to such Collateral (provided that it gives the Priority Secured Creditor at least 10 Business Days written notice prior to taking such Enforcement Action); provided, further, that notwithstanding the expiration of the Standstill Period or anything herein to the contrary, in no event shall any Junior Secured Creditor take any Enforcement Action or exercise or continue to exercise any such rights or remedies, or commence or petition for any such action or proceeding (including any foreclosure action or proceeding or any Insolvency Proceeding) as to its Non-Priority Collateral if either (i) an Insolvency Proceeding occurs and is continuing or (ii) the Priority Secured Creditor shall have commenced the enforcement or exercise of any rights or remedies with respect to more than a de minimis portion of such Non-Priority Collateral, or with respect to any of such Non-Priority Collateral as to which the Junior Secured Creditor has commenced an Enforcement Action, as applicable, or commenced any such action or proceeding (including, without limitation, any of the following (if undertaken and pursued to consummate a Disposition of such Collateral within a commercially reasonable time): the solicitation of bids from third parties to conduct the liquidation of all or any material portion of such Collateral, the engagement or retention of sales brokers, marketing agents, investment bankers, accountants, auctioneers or other third parties for the purpose of valuing, marketing, promoting or selling all or any material portion of such Collateral, the notification of account debtors to make payments to the Priority Secured Creditor or its agents, the initiation of any action to take possession of all or any material portion of such Collateral or the commencement of any legal proceedings or actions against or with respect to the foreclosure and sale of all or any material portion of such Collateral), or the diligent attempt in good faith to vacate any stay prohibiting an Enforcement Action with respect to all or any material portion of such Collateral or diligently attempting in good faith to vacate any stay prohibiting an Enforcement Action.

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

  • Application of Proceeds from Collateral All proceeds from each sale of, or other realization upon, all or any part of the Collateral by any Secured Party after an Event of Default arises shall be applied as follows:

  • 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.

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