Release of Equipment. Subject to the satisfaction of the provisions of Section 4.02, the Trustee shall release Equipment from the Lien of the Indenture upon the occurrence of any of the following events: (a) the sale of such Equipment pursuant to Section 4.03(b) of the Assignment and Servicing Agreement (unless retained by the Issuer for re-leasing), (b) the expiration of the related Lease upon the payment of the final Lease Payment due and payable under such Lease and the deposit of any Residual Realization in respect thereof, (c) the repurchase of the related Lease in accordance with the provisions of Section 5 of the Assignment and Servicing Agreement, (d) the addition of an Additional Lease to the extent new Equipment is provided in replacement of such Equipment in accordance with the provisions of Section 11 of the Assignment and Servicing Agreement and (e) upon the substitution of a Substitute Lease related to such Equipment in accordance with the provisions of Section 11 of the Assignment and Servicing Agreement. The proceeds (excluding Residual Realizations) of any such sale, repurchase or releasing shall be deposited in the Collection Account for disposition under this Indenture. The Residual Realizations shall be deposited in the Residual Account for disposition under this Indenture.
Release of Equipment. Subject to the satisfaction of the provisions of Section 5.02, the Trustee shall release the Trustee's security interest in the Issuer's interest in the Equipment from the Lien of the Indenture upon receipt from the Servicer of written certification of the occurrence of: (a) the sale of such Equipment pursuant to Section 4.03(b) of the Assignment and Servicing Agreement, or (b) the release of the related Lease from the Lien of this Indenture.
Release of Equipment. Except with the prior written consent of the Agent and without limitation of the arrangements permitted by Section 3.05(d), the Company shall not sell or otherwise dispose of any part of, or any interest in, the Equipment prior to payment and performance in full of the Obligations and expiration of the Commitments of the Lenders unless the same shall be released from the Lien hereof in accordance with Section 2.10(B)(ii)(1) of the Credit Agreement
Release of Equipment. 20 SECTION 4.2. Release of Leases Upon Final Lease Payment...................21 SECTION 4.3. Execution of Documents.......................................21
Release of Equipment. (a) The Borrower shall have the right at any time or from time to time to sell or otherwise dispose of all or any part of the Equipment subject, however, to all of the following terms and conditions:
(i) The Borrower shall, prior to or simultaneously, with any such sale or other disposition of any Equipment, cause to be substituted therefor equipment which is determined by the Board to have a value substantially equal to the value of the item of Equipment so sold or otherwise disposed of at the time said item of Equipment was sold or disposed by the Borrower pursuant to the terms hereof, but which equipment may, however, be of a different kind or type or have a different function or purpose;
(ii) The security interest granted pursuant to the Security Instruments shall attach to the equipment so substituted upon its acquisition by the Borrower and its installation on and building on the Land and prior to the sale or other disposition of the Equipment originally subject to such security interest.
(iii) The Borrower shall execute any and all documents, instruments, agreements or other writings (including, but not limited to, one or more Uniform Commercial Code financing statements) and otherwise do all acts and things which the Board shall reasonably deem necessary or advisable to perfect or continue perfection of a security interest in the equipment so substituted;
(iv) The Borrower shall pay any and all reasonable expenses (including, but not limited to, any applicable filing fees) incurred by the Board or the Trustee in connection with the perfection or continuation of such security interest; and
(v) The Borrower shall, not less than fifteen days prior to the consummation of any such sale or disposition, furnish the Board with a certificate signed by the Authorized Representative of the Borrower setting forth (1) a description of the item of Equipment which the Borrower proposes to sell or otherwise dispose of, which description has been previously set forth in the copy of Exhibit B hereto maintained by the Trustee in accordance with the Single Lot Resolution, (2) a description of the equipment to be proposed to be substituted for the item of Equipment sold or otherwise disposed of, which description shall be sufficient for the creation and perfection of a security interest in said equipment under the Uniform Commercial Code of the State, (3) a statement to the effect that the equipment proposed to be so substituted is now owned by the Borrower and in the ...
Release of Equipment. Immediately prior to or simultaneous with the effectiveness of the 2010 Equipment Loan and Lease Agreement and the first $1,000,000 advance to be made thereunder, Agent agrees to release its Lien on the Equipment more particularly described in Schedule 1 attached to this Tenth Amendment and to file such UCC-3 termination statements as are necessary or appropriate to reflect such release. In order to induce Agent and Lenders to agree to such Lien release, Borrowers acknowledge that Agent, at Borrowers’ expense, will obtain a new appraisal of Borrowers’ Equipment that remains subject to Agent’s Lien, which appraisal shall be in form and substance reasonably acceptable to Agent. In the event that such new appraisal evidences that the net orderly liquidation value of such Equipment has deteriorated from that stated in the most recent prior appraisal, then Borrowers acknowledge that Agent may implement reserves pursuant to such Section 1.1.1 of the Loan Agreement to reflect such reduced value.
Release of Equipment. Upon execution of this Agreement, LAW shall return the Equipment to PDC.
Release of Equipment. Subject to the satisfaction of the provisions of Section 4.02, the Trustee shall release Equipment from the Lien of the Indenture upon the occurrence of any of the following events: (a) the sale of such Equipment pursuant to Section 4.03(b) of the Servicing Agreement (unless retained by the Issuer for re-leasing), (b) the expiration of the related Lease upon the payment of the final Lease Payment due and payable under such Lease, (c) the repurchase of the related Lease in accordance with the provisions of the Servicing Agreement, (d) the addition of an Additional Lease to the extent new Equipment is provided in replacement of such Equipment in accordance with the provisions of the Servicing Agreement and (e) upon the substitution of a Substitute Lease in accordance with the provisions of the Servicing Agreement. The proceeds of any such sale, repurchase or releasing shall be deposited in the Lockbox Account for disposition under this Indenture.
Release of Equipment. Subject to the satisfaction of the provisions of Section 5.02, the Trustee shall release the Trustee's security interest in the Issuer's interest in the Equipment from the Lien of the Indenture upon receipt from the Servicer of written certification of the occurrence of: (a) the sale of such Equipment pursuant to Section 4.03(b) of the Assignment and Servicing Agreement, or (b) the release of the related Lease from the Lien of this Indenture; provided that, upon the occurrence of an Event of Default, so long as no Insurer Default shall have occurred and is continuing, the Trustee shall not release such security interest without the consent of the Insurer.
Release of Equipment. Reference is hereby made to Section 6.2 of the Lease which permits the Company, upon compliance with the conditions therein contained, to remove items of the Equipment from the Project Site and to sell or otherwise dispose of the same free and clear of the demise of the Lease and of the lien of the Indenture. Any item of the Equipment released from the demise of the Lease in accordance with the provisions thereof shall also be released from the lien of the Indenture, and the Trustee shall at the request of the Board or the Company execute and deliver all instruments that may be necessary to confirm such release.
