Release of Pledged Shares from Pledge and Borrower Control Shares from Escrow. Upon the payment of all amounts due to the Lender under the Loan Documents by repayment in accordance with the terms of the Note, the parties hereto shall notify the Escrow Agent, as such term is defined in the Escrow Agreement, to such effect in writing. Upon receipt of such written notice, the Escrow Agent shall return to the party designated in the notice the Transfer Documents and the certificates representing the Borrower Control Shares. Notwithstanding anything to the contrary contained herein, upon full payment of all amounts due to the Lender under the Loan Documents, by repayment in accordance with the terms of the Note, this Agreement and Lender’s security interest and rights in and to the Borrower Control Shares shall terminate.
Appears in 3 contracts
Samples: Reversal Loan and Control Share Pledge and Security Agreement (California Gold Corp.), Bridge Loan and Control Share Pledge and Security Agreement (Cromwell Uranium Corp.), Reversal Loan and Control Share Pledge and Security Agreement (US Uranium Inc.)
Release of Pledged Shares from Pledge and Borrower Control Shares from Escrow. Upon the payment of all amounts due to the Lender under the Loan Documents by repayment in accordance with the terms of the Note, the parties hereto shall notify the Escrow Agent, as such term is defined in the Escrow Agreement, Agent to such effect in writing. Upon receipt of such written notice, the Escrow Agent shall return to the party designated in the notice the Transfer Documents and the certificates representing the Borrower Control Shares. Notwithstanding anything to the contrary contained herein, upon full payment of all amounts due to the Lender under the Loan Documents, by repayment in accordance with the terms of the Note, this Agreement and Lender’s 's security interest and rights in and to the Borrower Control Shares shall terminate.
Appears in 1 contract
Samples: Bridge Loan and Control Share Pledge and Security Agreement (Goldstrike Inc)
Release of Pledged Shares from Pledge and Borrower Control Shares from Escrow. Upon the payment of all amounts due to the Lender under the Loan Documents by repayment in accordance with the terms of the Note, the parties hereto shall notify the Escrow Agent, as such term is defined in the Escrow Agreement, to such effect in writing. Upon receipt of such written notice, the Escrow Agent shall return to the party designated in the notice the Transfer Documents and the certificates representing the Borrower Control Shares. Notwithstanding anything to the contrary contained herein, upon full payment of all amounts due to the Lender under the Loan Documents, by repayment in accordance with the terms of the Note, this Agreement and Lender’s 's security interest and rights in and to the Borrower Control Shares shall terminate.
Appears in 1 contract
Samples: Bridge Loan and Control Share Pledge and Security Agreement (Foothills Resources Inc)
Release of Pledged Shares from Pledge and Borrower Control Shares from Escrow. Upon the payment of all amounts due to the Lender under the Loan Documents (as defined below) by repayment in accordance with the terms of the Note, the parties hereto shall notify the Escrow Agent, as such term is defined in the Escrow Agreement, Agent to such effect in writing. Upon receipt of such written notice, the Escrow Agent shall return to the party designated in the notice the Transfer Documents and the certificates representing the Borrower Control Shares. Notwithstanding anything to the contrary contained herein, upon full payment of all amounts due to the Lender under the Loan Documents, by repayment in accordance with the terms of the Note, this Agreement and Lender’s 's security interest and rights in and to the Borrower Control Shares shall terminate.
Appears in 1 contract
Samples: Bridge Loan and Control Share Pledge and Security Agreement (Oxford Ventures Inc)
