Release from Pledge Clause Samples
The 'Release from Pledge' clause defines the conditions and procedures under which a pledged asset is formally released from the security interest or lien held by a lender or secured party. Typically, this clause specifies that once the underlying obligation—such as repayment of a loan or fulfillment of contractual duties—is satisfied, the secured party must take steps to remove any encumbrance on the pledged asset, such as filing a release document or returning physical possession. This ensures that the pledgor regains full rights and control over the asset, resolving the encumbrance and restoring clear title, thereby protecting the pledgor from ongoing or future claims against the asset once obligations are met.
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Release from Pledge. Upon the termination of this Pledge Agreement, Secured Party shall immediately release its security interest in the Stock. In addition, Secured Party shall deliver the certificate or certificates representing the Stock to Pledgor if Secured Party has possession of such certificates at that time. Upon such occurrence, the security interest of Secured Party shall automatically terminate and Secured Party shall thereafter have no interest whatsoever in the Stock.
Release from Pledge. No Shares may be transferred, unless Rapid Link has made payment to Apex of all unpaid obligations existing under the Note (whether or not then due and payable), whether for principal, interest, fees, expenses or otherwise. Upon receipt by Apex of the payment as required by this section, the Shares shall be released from this Pledge Agreement.
Release from Pledge. When Lender determines, in its sole discretion. that the entire principal balance of the Loan, together with all accrued interest and all other amounts due thereunder have been unconditionally paid and performed in full, Lender shall deliver to Guarantor the Stock remaining in Lender's possession, and all obligations among the Lender, on the one hand, and the Guarantor, on the other hand, shall thereupon cease. If at any time any payment of the principal of, or interest on the Loan or any other amount payable by the Borrower under the Loan, the Debenture or other loan documents is rescinded or must be otherwise restored or returned, the Guarantor shall immediately deliver to the Lender the Stock.
Release from Pledge. No Pledged Shares may be transferred by Pledgor unless Pledgor has made payment to Pledgee of all unpaid obligations existing under the Note (whether or not then due and payable), whether for principal, interest, or otherwise and all unsatisfied obligations of Pledgor under the Note and this Pledge Agreement. In the event of (a) purchase by Pledgee from Pledgor of a number of the Pledged Shares sufficient to repay in full all obligations under the Note, whether for principal, interest, or otherwise or (b) repayment by Pledgor in full of all obligations under the Note, whether for principal, interest, or otherwise, the Pledged Shares shall be released from this Pledge Agreement. Pledgor hereby authorizes and directs Pledgee, upon receipt by Pledgor of payment to complete and execute the stock assignment or stock assignments delivered herewith to effectuate such transfer.
Release from Pledge. 2.1 Upon receipt by the Pledgee of the payment of DKK 6,500,000 under the Vendor Loan Agreement on or prior to 29 June 2012 in immediately available funds on its bank account with Danske Bank, account no. 4955-▇▇▇▇▇▇▇▇▇▇, the Pledgee shall automatically, and without the need for further action, release from the Pledge shares in the Company with nos. 130,001 — 200,000 owned by the Pledgor amounting to a nominal value of DKK 7,000,000 equal to 35% of the total share capital of the Company (as further defined below, the “Released Shares”). For the avoidance of doubt, such release of the Released Shares shall in no event be considered or interpreted as a release of the Pledge in full and shares in the Company with nos. 1 — 130,000 amounting to a nominal value of DKK 13,000,000 equal to 65% of the total share capital of the Company shall remain pledged to the Pledgor on the terms set out in the Agreement.
2.2 As soon as practicably possible following receipt of the payment set out in Clause 2.1 of this Amendment, Pledgee shall notify the Company of the release of the Released Shares in the form of Schedule 1 (Release from Pledge) to this Amendment although any failure to deliver such notification will not affect the effectiveness of the release of the Released Shares as contemplated herein.