Release of Indebtedness. On or before Closing, Seller shall (a) obtain a full release effective as of Closing of all mortgages, deeds of trust, liens and security interests, if any, burdening or encumbering all or any portion of the Assets that it is required to convey at the Closing which were created by Seller or any Affiliate of Seller to secure indebtedness, and (b) deliver to Buyer a duly executed and acknowledged agreement evidencing such full release effective as of the Closing Date, which release shall be in form and substance reasonably acceptable to Buyer.
Release of Indebtedness. Any Claim if, under Applicable Law, the Borrower did successfully assert any defense against the Insured, or could have asserted any defense against the Insured that would be reasonably likely to prevail, in view of then-current legal precedent in the applicable jurisdiction, so as to release in whole or in part the Borrower's obligation to repay the Covered Loan provided, however, that
Release of Indebtedness. Seller shall have delivered to Purchaser evidence of (i) the release of all Liens other than Permitted Liens with respect to the Business Assets and the Assets and Properties of the Business Subsidiaries, (ii) the repayment of all outstanding Indebtedness of the Business Subsidiaries listed on Section 10.11(ii) of the Disclosure Schedules, other than any Indebtedness that the Purchasers agree to assume, (iii) the repayment or other cancellation of all intercompany accounts between ARM and its Subsidiaries and Affiliates, on the one hand, and the Business Subsidiaries, on the other hand, and (iv) the release of all guarantees by the Business Subsidiaries of any Indebtedness or other obligation of ARM or any of its Subsidiaries or Affiliates (other than any of the Business Subsidiaries), in each case, in form and substance reasonably satisfactory to Purchaser, other than any Indebtedness that the Purchasers agree to assume.
Release of Indebtedness. The Buyer shall have received evidence reasonably satisfactory to it of the payoff of the Indebtedness in accordance with Section 9.4, and of the complete and irrevocable release, as of the Closing Date and after giving effect to the payments contemplated by the Payment Instructions in accordance with Section 9.4, of the Company and each Subsidiary (other than the Spanish Subsidiary) from any and all obligations or Encumbrances under and in connection with the any Indebtedness including, without limitation, the release of all liens or security interests upon or in any of the respective properties and assets of the Company or any Subsidiary (other than the Spanish Subsidiary) arising under or in connection with such Indebtedness.
Release of Indebtedness. Prior to or on the Closing Date, the Sellers shall have (or shall have caused the Company to have) fully discharged and paid any and all Indebtedness of the Company or the Business, and at Closing the Sellers shall deliver evidence of the foregoing reasonably satisfactory to the Purchaser.
Release of Indebtedness. Antia will at or prior to Closing against payment of the Societe Generale Indebtedness by Buyer as provided in Section 9.9 hereof, cause the Acquired Business and Buyer to be released from all obligations to Societe Generale under any agreements or instruments executed in connection with the Societe Generale Indebtedness or otherwise.
Release of Indebtedness. Xxxxx and Xxxxx shall have been released from any continuing personal liability on any debt, lease, or similar obligations of the Company or its Subsidiary.
Release of Indebtedness. Consultant agrees to remis, release, and forever discharge any amounts owed to him by BDI or its successors, assigns, associated corporations, officers, directors, partners, shareholders, employees, agents, and Board of Directors, as the case may be, as of the date hereof, including but not limited to a loan made by Consultant to BDI in the amount of $1667, except that this section shall not apply to any amounts owing to Consultant pursuant to the terms hereof or the Share Exchange Agreement.
Release of Indebtedness. The Company shall have been released from the In-House Contract Liabilities, the Business Real Property Encumbrances, the guaranties executed by the Company, guarantying the indebtedness of Cougar Investments, Inc., in favor of Bank of America and Washington Trust Bank, any other guaranty for which the Company may be obligated, and the Dollar Rent-a-Car guaranty or, in lieu of such release, Dollar Rent-a-Car, and its shareholders, and the Shareholders shall provide Lithia with a hold harmless agreement, reasonably acceptable to it, and shall thereafter diligently pursue release of such guaranty as a post closing matter.
Release of Indebtedness. Granite Equities, Inc. shall have released all liens against the Station Assets and all claims against Seller. 7.8
