Release of Pledged Securities; Termination of Security Sample Clauses

Release of Pledged Securities; Termination of Security. Interests. --------- Subject to Section 9.4, upon the payment in full of the Revolving Credit Notes, the performance by the Borrower of all of its other obligations under the Credit Agreement, the Revolving Credit Notes and the Related Documents, the performance by the Pledgor and each Parent Subsidiary of all their respective obligations under the Pledge Agreements, and the termination of the Commitments, (i) the Security Interests shall terminate and all rights to the Collateral shall revert to the Pledgor, and (ii) the Administrative Agent shall, at the Pledgor's expense, execute and deliver to the Pledgor such documents as the Pledgor shall reasonably request to evidence such termination and to transfer the Collateral to or upon the order of the Pledgor, provided, -------- however, that, notwithstanding anything to the contrary contain herein, ------- (a) upon the disposition of any Pledged Securities constituting Shares in accordance with Section 7.1, the Administrative Agent shall release its Security Interest in such Pledged Securities, (i) immediately before and after giving effect to such release, no Event of Default or Potential Default shall exist, and (ii) the Administrative Agent shall have received a certificate, in all respects satisfactory to the Administrative Agent, of the President, any Vice President, Treasurer, Assistant Treasurer or Chief Financial Officer of the Pledgor to the foregoing effect, and (i) immediately before and after giving effect to such release, (A) each Parent Subsidiary Agreement shall have been terminated in accordance with Section 5.2 thereof, (B) Section 5.1 shall not be in effect in accordance with Section 5.2 and (C) no Event of Default or Potential Default shall exist, (ii) the Administrative Agent shall have received a certificate, in all respects satisfactory to the Administrative Agent, of the President, any Vice President, Treasurer, Assistant Treasurer or Chief Financial Officer of the Pledgor, certifying that, immediately before and after giving effect to such release, no Event of Default or Potential Default shall exist, and (iii) in the event that at any time subsequent to such release (A) a Parent Subsidiary Agreement shall be in effect or (B) Section 5.1 shall be in effect in accordance with Section 5.2, then the Pledgor shall at such time deliver or cause to be delivered to the Administrative Agent or its nominee certificates representing all of the issued and outstanding shares of the capital stock...
Sample 1
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Release of Pledged Securities; Termination of Security. Interests. --------- Subject to Section 9.4, upon the payment in full of the Revolving Credit Notes, the performance by the Borrower of all of its other obligations under the Credit Agreement, the Revolving Credit Notes and the Related Documents, the performance by the Parent and each Parent Subsidiary of all their respective obligations under the Pledge Agreements, and the termination of the Commitments, (i) the Security Interests shall terminate and all rights to the Collateral shall revert to the Pledgor, and (ii) the Administrative Agent shall, at the Pledgor's expense, execute and deliver to the Pledgor such documents as the Pledgor shall reasonably request to evidence such termination and to transfer the Collateral to or upon the order of the Pledgor, provided, however, that, notwithstanding anything to -------- ------- the contrary contain herein, (a) upon the disposition of any Pledged Securities constituting Shares in accordance with Section 7.1 of this Agreement, the Administrative Agent shall release its Security Interest in such Pledged Securities, and (i) immediately before and after giving effect to such release, no Event of Default or Potential Default shall exist, and (ii) the Administrative Agent shall have received a certificate, in all respects satisfactory to the Administrative Agent, of the President, any Vice President, Treasurer, Assistant Treasurer or Chief Financial Officer of the Pledgor to the foregoing effect.
Sample 1

Related to Release of Pledged Securities; Termination of Security

  • Termination of Security Interests; Release of Collateral Upon payment in full of all Secured Obligations, the Security Interests shall terminate and all rights to the Collateral shall revert to Debtor. Upon such termination of the Security Interest or release of any Collateral, the Secured Party will, at the expense of Debtor, execute and deliver to Debtor such documents as Debtor shall reasonably request to evidence the termination of the Security Interest or the release of such Collateral, as the case may be.

  • 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 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.

  • Termination of Security Interests Upon the payment in full of the Obligations and satisfaction of all Borrower’s obligations under this Agreement and the other Loan Documents, and if Lender has no further obligations under its Commitment, the security interest granted hereby shall terminate and all rights to the Collateral shall revert to Borrower. Upon any such termination, the Lender shall, at Borrower’s expense, execute and deliver to Borrower such documents as Borrower shall reasonably request to evidence such termination.

  • Confirmation of Security Borrower hereby confirms and agrees that all of the Security Instruments, as may be amended in accordance herewith, which presently secure the Indebtedness shall continue to secure, in the same manner and to the same extent provided therein, the payment and performance of the Indebtedness as described in the Credit Agreement as modified by this Amendment.

  • Transfer Upon Realization of Pledged, Mortgaged or Charged Escrow Securities (1) You may transfer within escrow to a financial institution the escrow securities you have pledged, mortgaged or charged under section 4.2 to that financial institution as collateral for a loan on realization of the loan. (2) Prior to the transfer the Escrow Agent must receive: (a) a statutory declaration of an officer of the financial institution that the financial institution is legally entitled to the escrow securities; (b) a transfer power of attorney, executed by the transferor in accordance with the requirements of the Issuer’s transfer agent; and (c) an acknowledgement in the form of Schedule “B” signed by the financial institution. (3) Within 10 days after the transfer, the transferee of the escrow securities will file a copy of the acknowledgment with the securities regulators in the jurisdictions in which the Issuer is a reporting issuer.

  • Termination of Security Interest Upon the payment in full of all Obligations, the security interest granted herein shall terminate and all rights to the Collateral shall revert to Debtor. Upon such termination, Secured Party hereby authorizes Debtor to file any UCC termination statements necessary to effect such termination and Secured Party will execute and deliver to Debtor any additional documents or instruments as Debtor shall reasonably request to evidence such termination.

  • Registration of Pledged Collateral Such Grantor will permit any registerable Pledged Collateral owned by it to be registered in the name of the Administrative Agent or its nominee at any time at the option of the Required Secured Parties.

  • Retention of Pledged Collateral To the extent permitted under applicable law, in addition to the rights and remedies hereunder, upon the occurrence of an Event of Default, the Administrative Agent may, after providing the notices required by Sections 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable law of the relevant jurisdiction, accept or retain all or any portion of the Pledged Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have accepted or retained any Pledged Collateral in satisfaction of any Secured Obligations for any reason.

  • 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.

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