Release of Pledge Agreement Sample Clauses

Release of Pledge Agreement. The Pledgor shall be automatically released from its obligations under this Agreement and this Agreement shall automatically terminate on the earlier of (a) the date on which all the Secured Obligations are paid in full and all the Commitments thereunder are terminated, and (b) the later of (i) the date upon which the Timberlands Loans have been repaid in full and (ii) the date on which Total Committed Debt is less than $145,000,000; and at the time of such release the Agent shall deliver the Collateral to the Pledgor.
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Release of Pledge Agreement. Pursuant to that certain Pledge Agreement, dated as of April 20, 2015, by each of the parties Pledgor (collectively, the “Pledgors”) thereto in favor of the Administrative Agent for the benefit of the Lenders (as amended, modified, restated and/or supplemented from time to time, the “Pledge Agreement”), the Pledgors have pledged and granted a Lien in the Equity Interests of certain Collateral (as defined in the Pledge Agreement) (the “Pledge Collateral”) to the Administrative Agent, for the benefit of the Lenders. Pursuant to the terms of this Amendment, the Pledged Collateral is no longer required to secure the Obligations and accordingly, the Pledgors have requested that the Administrative Agent release its security interest in the Pledge Collateral. Subject to the satisfaction of the conditions precedent set forth in Section 6 below, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged and confirmed, Administrative Agent hereby agrees that the Pledge Agreement is hereby terminated and shall be of no further force or effect, and the pledges, liens and security interests in and to the Pledge Collateral granted pursuant to the Pledge Agreement shall be canceled, terminated, discharged and forever released; provided that nothing herein shall serve to release any such obligations that, by their express terms, survive the termination of the Pledge Agreement.
Sample 1
Release of Pledge Agreement. An instrument, reasonably satisfactory to COP LP, releasing and terminating the Pledge Agreement, duly executed by CILP.
Sample 1
Release of Pledge Agreement. The Lenders acknowledge and agree to the termination of that certain Amended and Restated Pledge Agreement dated as of May 27, 2005 (“Pledge Agreement”) by and between Borrower and Agent and the termination of the pledge and security interest in the Securities Collateral held in each of the KeyCorp Account and Bank One Account (as those terms are defined in the Pledge Agreement).
Sample 1

Related to Release of Pledge Agreement

  • Termination of Pledge Agreement This Agreement and the rights hereby granted by Pledgor in the Collateral shall cease, terminate and be void upon fulfillment of all of the obligations of Pledgor under the Securities Contract and hereunder. Any Collateral remaining at the time of such termination shall be fully released and discharged from the Security Interests and delivered to Pledgor by Secured Party, all at the request and expense of Pledgor.

  • Release of Pledge 3.1 After the Pledgors and the Company fully and completely perform all of the Contractual Obligations and discharge all of the Secured Liabilities, the Pledgee shall, upon the Pledgors’ request, release the Equity Pledge under this Agreement and cooperate with the Pledgors to cancel the registration of the Equity Pledge on the Company’s register of shareholders and with the administration of industry and commerce in charge of the Company. The Pledgee shall assume the reasonable expenses arising out of the release of the Equity Pledge.

  • Release of Pledged Shares from Pledge Upon the payment of all amounts due to the Pledgee under the Convertible Debentures by repayment in accordance with the terms of the Note, the parties hereto shall notify the Escrow Agent to such effect in writing. Upon receipt of such written notice for payment of the amounts due to the Pledgee under the Convertible Debentures, the Escrow Agent shall return to the Pledgor the Transfer Documents and the certificates representing the Pledged Shares, (collectively the "Pledged Materials"), whereupon any and all rights of Pledgee in the Pledged Materials shall be terminated. Notwithstanding anything to the contrary contained herein, upon full payment of all amounts due to the Pledgee under the Convertible Debentures, by repayment in accordance with the terms of the Note, this Agreement and Pledgee's security interest and rights in and to the Pledged Shares shall terminate.

  • Release of Pledged Collateral The Administrative Agent may release any of the Pledged Collateral from this Pledge Agreement or may substitute any of the Pledged Collateral for other Pledged Collateral without altering, varying or diminishing in any way the force, effect, lien, pledge or security interest of this Pledge Agreement as to any Pledged Collateral not expressly released or substituted, and this Pledge Agreement shall continue as a first priority lien on all Pledged Collateral not expressly released or substituted.

  • Rate of Pledge and Term of Pledge 3.1 The Rate of Pledge: The Rate of Pledge shall be 100% under this Agreement.

  • Stock Pledge Agreement The term "Stock Pledge Agreement" shall have the meaning set forth in Section 6.3(xiii).

  • Pledge Agreement Other than as expressly permitted hereunder, the Pledge Agreement or any other Security Document pursuant to which the Capital Stock or Stock Equivalents of the Borrower or any Subsidiary is pledged or any material provision thereof shall cease to be in full force or effect (other than pursuant to the terms hereof or thereof or as a result of acts or omissions of the Collateral Agent or any Lender) or any pledgor thereunder or any Credit Party shall deny or disaffirm in writing any pledgor’s or Credit Party’s obligations under any Security Document; or

  • NOTICE OF PLEDGE 4.1 Subject to Clause 4.3 below the Pledgor undertakes that it will without undue delay, but not later than twenty business days after the date of this Agreement, and, in relation to any Account opened after the date of this Agreement, within ten business days after such new Account has been opened, notify each Account Bank and any other relevant third party of the Pledges by delivering a notification substantially in the form set out in Schedule 3 (Form of Notice of Pledge) by registered mail (Einschreiben mit Rückschein). The Pledgor shall provide the Collateral Agent with a copy of each such notification and of the corresponding return receipt (Rückschein). In addition, the Pledgor shall use all reasonable efforts to procure that each Account Bank promptly acknowledges receipt of the respective notification, and acceptance of the terms thereof, to the Collateral Agent and to the Pledgor.

  • Exercise of Pledge 8.1 Pledgee shall issue a written Notice of Default to Pledgor when it exercises the Pledge.

  • Pledge Agreements Duly executed originals of each of the Pledge Agreements accompanied by (as applicable) (a) share certificates representing all of the outstanding Stock being pledged pursuant to such Pledge Agreement and stock powers for such share certificates executed in blank and (b) the original Intercompany Notes and other instruments evidencing Indebtedness being pledged pursuant to such Pledge Agreement, duly endorsed in blank.

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