Release of Pledged Receivables Sample Clauses

Release of Pledged Receivables. (a) Subject to Section 2.15 hereof, upon the repayment of any Loan, the Borrower may obtain the release of any Pledged Receivable and the related Other Conveyed Property or Related Security securing such Loan (including, without limitation, the release of any security interest of the Collateral Agent or the Borrower therein) by depositing into an account designated by the Lender the Release Price therefor on the date of such repayment; provided, that the foregoing release shall only be available if, after giving effect thereto and the application of the proceeds thereof in accordance with the terms hereof, there shall not be a Borrowing Base Deficiency, Program Termination Event, Pool A Termination Event or a Pool B Termination Event (and such Pool B Termination Event is related to such Pledged Receivable), or an event that but for notice or lapse of time or both would constitute any of the foregoing events.
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Release of Pledged Receivables. (a) Subject to Section 2.15 hereof, upon the repayment of the Loans and all other Obligations payable to each Secured Party under this Agreement and any other Transaction Document, the security interest of the Collateral Agent in each Pledged Receivable and the related Other Conveyed Property and Related Security shall be released and the Borrower hereby authorized to file, on behalf of the Collateral Agent, UCC termination statements in respect thereof.
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Release of Pledged Receivables. (a) Subject to Section 2.20 hereof, upon (i) the repayment of any Loan (including, without limitation, the repayment of any Loan in connection with a Take-Out Securitization or a Whole Loan Sale), the Borrower may obtain the release of any Pledged Receivable and the related Other Conveyed Property or Related Security securing such Loan (including, without limitation, the release of any security interest of the Agent or the Borrower therein) by depositing into an account designated by the Agent the Release Price therefor on the date of such repayment plus, in the case of any such release related to a Whole Loan Sale, the Disposition Fee (as defined in the Fee Letter) payable in connection with such Whole Loan Sale; provided, that the foregoing release shall only be available if, after giving effect thereto and the application of the proceeds thereof in accordance with the terms hereof, there shall not be a Borrowing Base Deficiency or Early Amortization Event, or an event that but for notice or lapse of time or both would constitute an Early Amortization Event or (ii) the substitution of any Pledged Receivable in accordance with Section 2.07, the Borrower may, with the consent of the Agent (which shall not be unreasonably withheld), obtain the release of such substituted Pledged Receivables and the related Other Conveyed Property or Related Security.
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Release of Pledged Receivables. (a) Subject to Section 2.20 hereof, upon the repayment of any Loan, the Borrower may, with the consent of the Agent, obtain the release of any Pledged Receivable and the related Other Conveyed Property or other Related Security securing such Loan by depositing into the Collection Account the Release Price therefor on the date of such repayment; provided, that the foregoing release shall only be available if, after giving effect thereto and the application of the proceeds thereof in accordance with the terms hereof, there shall not be a Borrowing Base Deficiency or Early Amortization Event.
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Release of Pledged Receivables. In connection with the consummation of any Third Party Sale or any repurchase by Freedom Financial of Pledged Receivables pursuant to the PCA, the Borrower may obtain the release of any Pledged Receivable subject to any such transaction at any time after the date hereof by (i) providing the Administrator with written notice, no later than the second Business Day preceding the proposed release, specifying (x) the Pledged Receivables to be released, (y) the reason for such release, and (z) the Release Price to be paid pursuant to such release, and (ii) depositing into the Collection Account the Release Price therefor; provided, that the foregoing release shall only be available if no Default or Event of Default has occurred and is continuing and, after giving effect thereto and the application of the proceeds thereof in accordance with the terms hereof, no Borrowing Base Deficiency shall exist; provided, further, that any such release shall only occur upon the Administrator’s receipt of the related Release Price and written confirmation of such release, which confirmation shall not be unreasonably withheld. Any Third Party Sale to a Person other than ReMark or an Affiliate thereof shall require the prior written consent of the Lender. In connection with any Third Party Sale of Pledged Receivables permitted under this Agreement, the Borrower will dividend or otherwise convey to Freedom Financial the Pledged Receivables and Other Conveyed Property to be sold pursuant to such Third Party Sale without recourse, representation or warranty of any kind, and Freedom Financial will be the seller of such Pledged Receivables and Other Conveyed Property to the applicable third party purchaser. Under no circumstances shall Freedom Financial permit any third party purchaser to have recourse to the Borrower in connection with any Third Party Sale.
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Release of Pledged Receivables. (a) Solely in connection with the consummation of any payment in full by the related Obligor or liquidation by the Servicer of any Receivable, or any required repurchase by Maxtor of Pledged Receivables pursuant to the Purchase Agreement, the Borrower shall be entitled to obtain the release of any Pledged Receivable and the related Other Conveyed Property or Related Security subject to any such transaction, pay off, liquidation or repurchase at any time after the date hereof by depositing into the Collection Account the Release Price therefor on any Remittance Date and upon such deposit the Collateral Agent shall execute and deliver, within a reasonable period of time and at the sole expense of the Borrower, such documents as the Borrower determines in its reasonable discretion to be necessary to effect such release; provided, that the foregoing release shall only be available (in cases other than a required repurchase by Maxtor of Pledged Receivables pursuant to the Purchase Agreement) if, after giving effect thereto and the application of the proceeds thereof in accordance with the terms hereof, there shall not be a Program Deficiency or Early Amortization Event.
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Release of Pledged Receivables. (a) In connection with the consummation of any Take-Out Securitization, any pay off by the related Obligor or liquidation by the Servicer of any Receivable or Pledged Consumer Note Receivable, or any required repurchase by REF or EFI of Pledged Receivables or Pledged Consumer Note Receivables pursuant to either of the Borrower Receivables Purchase Agreements, the Borrower shall be entitled to obtain the release of any Pledged Receivable subject to any such transaction, pay off, liquidation or repurchase at any time after the date hereof by depositing into an account designated by the Agent the Release Price therefor on any Remittance Date and upon such deposit the Agent shall execute and deliver, within a reasonable period of time and at the sole expense of the Borrower, such documents as the Borrower determines in its reasonable discretion to be necessary to effect such release; provided, that the foregoing release shall only be available if, after giving effect thereto and the application of the proceeds thereof in accordance with the terms hereof, there shall not be a Borrowing Base Deficiency or Early Amortization Event.
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Release of Pledged Receivables. (a) The Borrower shall not be permitted to make a prepayment of the Loans Outstanding except in connection with a proposed sale or pledge by the Borrower of any Pledged Receivable(s) to a third party (including, without limitation, in connection with a Take-Out Securitization or a Whole Loan Transaction) pursuant to which the Borrower pays the applicable Release Price and related Liquidation Fees. In such case, the Borrower may obtain the release of any such Pledged Receivable(s) and, solely to the extent related to such Pledged Receivable(s), the Related Security and other related Other Conveyed Property, from the security interest created hereunder, by depositing into an account designated by the Agent the Release Price therefor on the date of such repurchase payable in connection with such transaction and any related Liquidation Fees payable as a result of such release. Upon the substitution of any Pledged Receivable in accordance with Section 2.06, the Borrower may, with the consent of the Agent and the Custodian, obtain the release of such Substituted Receivables and, solely to the extent related to such Substituted Receivable, the Related Security and other related Other Conveyed Property (including, without limitation, the release of any security interest of the Agent or the Borrower therein). The Borrower shall notify the Agent of any Release Price and Liquidation Fees to be paid pursuant to this Section 2.14 at least ten (10) Business Days prior to the date on which such Release Price shall be paid specifying the Pledged Receivables to be released and the Release Price; provided that it shall be a condition precedent to the release of any Pledged Receivables (and corresponding prepayment of Loans Outstanding) that as of the date such Pledged Receivables are to be released the Overall Hedge Position must be not less than 95.0% of the Loans Outstanding as of such date and (solely in respect of Qualifying Interest Rate Xxxxxx that are interest rate swap agreements) not more than 105.0% of the Loans Outstanding as of such date. Amounts paid by the Borrower pursuant to this Section 2.14 on account of Pledged Receivables shall be treated as payments on Pledged Receivables hereunder.
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Related to Release of Pledged Receivables

  • 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.

  • 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 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.

  • Sale of Pledged Collateral Upon the occurrence of an Event of Default and during the continuation thereof, without limiting the generality of this Section and without notice, the Administrative Agent may, in its sole discretion, sell or otherwise dispose of or realize upon the Pledged Collateral, or any part thereof, in one or more parcels, at public or private sale, at any exchange or broker’s board or elsewhere, at such price or prices and on such other terms as the Administrative Agent may deem commercially reasonable, for cash, credit or for future delivery or otherwise in accordance with applicable law. To the extent permitted by law, any holder of the Secured Obligations may in such event bid for the purchase of such securities. Each Pledgor agrees that, to the extent notice of sale shall be required by law and has not been waived by such Pledgor, any requirement of reasonable notice shall be met if notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed postage prepaid to such Pledgor in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten (10) days before the time of such sale. The Administrative Agent shall not be obligated to make any sale of Pledged Collateral of such Pledgor regardless of notice of sale having been given. The Administrative Agent may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned.

  • DEFINITION OF PLEDGED PROPERTY For the purpose of securing prompt and complete payment and performance by the Company of all of the Obligations, the Company unconditionally and irrevocably hereby grants to the Secured Party a continuing security interest in and to, and lien upon, the following Pledged Property of the Company:

  • Certain Sales of Pledged Collateral (a) Each Pledgor recognizes that, by reason of certain prohibitions contained in law, rules, regulations or orders of any Governmental Authority, the Collateral Agent may be compelled, with respect to any sale of all or any part of the Pledged Collateral, to limit purchasers to those who meet the requirements of such Governmental Authority. Each Pledgor acknowledges that any such sales may be at prices and on terms less favorable to the Collateral Agent than those obtainable through a public sale without such restrictions, and, notwithstanding such circumstances, agrees that any such restricted sale shall be deemed to have been made in a commercially reasonable manner and that, except as may be required by applicable law, the Collateral Agent shall have no obligation to engage in public sales.

  • Delivery of Pledged Collateral All certificates and all promissory notes and instruments evidencing the Pledged Collateral shall be delivered to and held by or on behalf of Agent, for itself and the benefit of Lenders, pursuant hereto. All Pledged Shares shall be accompanied by duly executed instruments of transfer or assignment in blank, all in form and substance satisfactory to Agent and all promissory notes or other instruments evidencing the Pledged Indebtedness shall be endorsed by Pledgor.

  • Delivery of Pledged Property All certificates or instruments representing or evidencing any Collateral, including all Pledged Shares and all Pledged Notes, shall be delivered to and held by or on behalf of (and, in the case of the Pledged Notes, endorsed to the order of) the Collateral Agent pursuant hereto, shall be in suitable form for transfer by delivery, and shall be accompanied by all necessary instruments of transfer or assignment, duly executed in blank.

  • Authorization of Pledged Equity All Pledged Equity is duly authorized and validly issued, is fully paid and, to the extent applicable, nonassessable and is not subject to the preemptive rights of any Person.

  • Disposition of Pledged Interests by Agent None of the Pledged Interests existing as of the date of this Agreement are, and none of the Pledged Interests hereafter acquired on the date of acquisition thereof will be, registered or qualified under the various federal or state securities laws of the United States and disposition thereof after an Event of Default may be restricted to one or more private (instead of public) sales in view of the lack of such registration. Each Grantor understands that in connection with such disposition, Agent may approach only a restricted number of potential purchasers and further understands that a sale under such circumstances may yield a lower price for the Pledged Interests than if the Pledged Interests were registered and qualified pursuant to federal and state securities laws and sold on the open market. Each Grantor, therefore, agrees that: (a) if Agent shall, pursuant to the terms of this Agreement, sell or cause the Pledged Interests or any portion thereof to be sold at a private sale, Agent shall have the right to rely upon the advice and opinion of any nationally recognized brokerage or investment firm (but shall not be obligated to seek such advice and the failure to do so shall not be considered in determining the commercial reasonableness of such action) as to the best manner in which to offer the Pledged Interest or any portion thereof for sale and as to the best price reasonably obtainable at the private sale thereof; and (b) such reliance shall be conclusive evidence that Agent has handled the disposition in a commercially reasonable manner.

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