Release of Liens and Security Interests Sample Clauses

Release of Liens and Security Interests. (a) All liens and security interests on the Purchased Assets, if any, held by all Seller secured parties (the “Secured Parties”) shall be released and all related discharge of lien notices and forms shall be filed and recorded in the appropriate government offices in accordance with the requirements of the Uniform Commercial Code and copies of such notices and forms shall have been provided to Buyer.
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Release of Liens and Security Interests. A. Except as expressly required by the terms of this Agreement or applicable law, Lender shall not be obligated to release its liens and security interests in any portion of the Collateral so long as any Obligations remain outstanding; provided, however, that any release by Lender of its liens and security interests in any portion of the Collateral shall apply only to such of the Collateral as is specifically described in the release given by Lender and shall not in any way constitute a release by Lender of its liens and security interests in the Proceeds, products or accessions of such Collateral in existence at the time of such release or of any other Collateral.
Release of Liens and Security Interests. Effective upon receipt of the Settlement Payment, all liens and security interests securing any of the Xxxxxx Claims shall be deemed automatically terminated without any further action by any of the Xxxxxx Parties or the Debtors and without the necessity of the execution, filing or recordation of any documents. Notwithstanding the foregoing, effective upon the receipt of the Settlement Payment, each of the Debtors and the Committee is irrevocably authorized to file and/or record, on behalf of any of the Xxxxxx Parties, any lien termination statement or similar document that any of the Debtors or the Committee determines to be necessary to effectuate the release or termination of any lien against or security interest in the Collateral, or any portion thereof, filed or recorded in the name of any of the Xxxxxx Parties.
Release of Liens and Security Interests. All liens against, and all security interests in, IRF or any of its assets or properties shall have been released.
Release of Liens and Security Interests. Receipt by the Agent, on behalf of the Banks, of satisfactory evidence that all liens and security interests of the Borrower and the Subsidiaries have been satisfied in full and released of record, except for Permitted Encumbrances.
Release of Liens and Security Interests. After the Closing Date, H/Cell shall diligently seek to have any and all liens or other security interests made against either Pxxx X. Xxxxx, Xx. and/or Sxxxxxxxx Xxxxx in connection with the WSFS Debt or the Bxxxx Guaranties released.
Release of Liens and Security Interests. Commencing on the Effective Date, (a) Lender hereby releases, relinquishes, terminates and discharges all of the liens and security interests granted by the Missouri Borrowers under the Loan Agreement and the other Loan Documents, and (b) Lender hereby releases each Missouri Borrower from its Obligations under the Loan Documents. Borrower and Lender hereby acknowledge and agree that such releases by Lender are not intended, nor shall such releases be construed, as (i) a release, termination, relinquishment or discharge of any of the liens on and security interests in any Collateral or Property of the Remaining Borrowers; (ii) a novation, discharge, extinquishment or impairment of the Obligations of the Remaining Borrowers that remain outstanding under the Loan Agreement; (iii) a waiver of any requirement, covenant, agreement set forth in the Loan Documents and applicable to the Remaining Borrowers; (iv) a waiver of any default or Event of Default, whether now existing or hereafter arising; or (v) any remedy of Lender under the Loan Documents or applicable law.
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Release of Liens and Security Interests. Subordinator agrees to release (or to subordinate, if requested by the Administrative Agent) its lien on and security interest in the Collateral, or on any portion thereof, upon any sale or other disposition thereof if the Administrative Agent agrees to release (or to subordinate, as applicable) its lien and/or security interest in such Collateral or if the net cash proceeds of such sale or disposition are being applied to the payment of the Senior Indebtedness; provided, however, upon the release of such liens or security interests, the lien and the security interest granted to the Subordinator shall, subject to all of the provisions of this Agreement (including the provision of subordination to the Administrative Agent's lien), continue in the net proceeds of such Collateral if and to the extent such net proceeds are not applied to the Senior Indebtedness in accordance with the terms of the Senior Debt Documents. Subordinator hereby grants to the Administrative Agent an irrevocable power of attorney to execute and deliver any such release required of Subordinator hereunder.
Release of Liens and Security Interests. Notwithstanding the fact that the Existing Letters of Credit will remain outstanding and be governed by the Collateral Account Agreement, upon receipt by the Agent of the Payoff Amount, which Payoff Amount shall be delivered to the Agent by wire transfer of immediately available funds in accordance with the wiring instructions set forth on Exhibit E attached hereto, and subject to the terms set forth in Section 6.03, (a) the Credit Agreement and the other Loan Documents (other than the Collateral Account Agreement) shall terminate (other than any provisions which by their terms expressly survive the termination of the Loan Documents), (b) the liens and security interests granted pursuant to the Credit Agreement and the other Loan Documents (other than any liens and security interests granted by the Borrower pursuant to the Collateral Account Agreement) shall be deemed to have been automatically released and terminated as of the date of receipt of the Payoff Amount, (c) all Obligations (other than any obligations of the Borrower under the Collateral Account Agreement) shall be deemed paid in full, released and discharged (other than any provisions which by their terms expressly survive the termination of the Loan Documents), Fifth Amendment to Credit Agreement all without any further action being required to effectuate the foregoing, (d) the Borrower (or its designee) shall thereupon be authorized to (i) file Uniform Commercial Code termination statements in order to evidence the termination of the liens and security interests granted pursuant to the Credit Agreement and the other Loan Documents (other than any liens and security interests granted by the Borrower pursuant to the Collateral Account Agreement), and (ii) terminate Collateral Access Agreements and insurance endorsements obtained in accordance with the Loan Documents, (e) the Agent will, at the Borrower’s expense, execute and deliver such lien releases and other documents as the Borrower may reasonably request in order to evidence the termination of the liens and security interests granted pursuant to the Credit Agreement and the other Loan Documents (other than any liens and security interests granted by the Borrower pursuant to the Collateral Account Agreement), and (f) the Agent will promptly deliver any Collateral (other than the Collateral (as defined in the Collateral Account Agreement) provided to the Agent pursuant to the Collateral Account Agreement) in its possession to the Borrower or...
Release of Liens and Security Interests. Congress hereby releases its security interests in the Enron Inventory Collateral granted to it by HSI in the Congress Credit Agreements and HSI and Congress agree that each will enter into an amendment to the existing Congress Credit Agreements and UCC-3 Partial Releases, each in form and substance satisfactory to Congress and Enron, to indicate that Congress has released such security interests in the Enron Inventory Collateral.
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