Release of Security Interest; Termination of Agreement Sample Clauses

Release of Security Interest; Termination of Agreement. Except as provided below, the provisions of this Agreement shall remain in full force and effect until Bank receives at the Banking Office Secured Party’s written notice of release of its security interest in, or reassignment to Principal of, the Deposit Account (“Secured Party’s Release”). Notwithstanding the foregoing, either Secured Party or Bank may terminate this Agreement by giving twenty (20) days’ written notice to the other parties hereto during which 20 day period this Agreement shall remain in effect. Following such notice of termination, Bank shall follow Secured Party’s Orders for the payment of the net balance of collected funds in the Deposit Account.
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Release of Security Interest; Termination of Agreement. Except as provided below, the provisions of this Agreement shall remain in full force and effect until Broker receives Secured Party's written notice of release of its security interest in, or reassignment to Customer of, the Securities Account ("Secured Party's Release"). Notwithstanding the foregoing, either Secured Party or Broker may terminate this Agreement by giving twenty (20) days' written notice to the other and to Customer during which 20-day period this Agreement shall remain in effect. Following such notice of termination Broker shall follow Secured Party's Orders for the transfer of the property credited to the Securities Account to Customer or to Secured Party. Notwithstanding any provision herein to the contrary, if Broker elects to give notice to terminate this Agreement during the Dispute Period, then following such notice of termination, Broker shall transfer the property credited to the Securities Account (a) as directed by the New Direction if it has been received by Broker, or (b) if Broker has not received the New Direction, to a third party designated by Secured Party (the "escrow agent"), to be held in escrow until the escrow agent shall receive the New Direction.
Release of Security Interest; Termination of Agreement. This Agreement shall remain in full force and effect until Bank receives at the Banking Office Secured Party's written notice of release of its interest in, or assignment to Borrower of, the Special Deposit Account ("Secured Party's Release"). Notwithstanding the foregoing, either Secured Party or Bank may terminate this Agreement by giving 30 days' written notice to the other and to Borrower. However, in the event that the Special Deposit Account is not handled by either Borrower or Secured Party in accordance with the agreement governing the Special Deposit Account, including if the Special Deposit Account is subject to fraud or non-sufficient funds. Bank reserves the right to terminate the Agreement upon 10 day's prior written notice to Borrower and Secured Party. Following such termination Bank shall follow Secured Party's instructions for the payment of any balance of funds in the Special Deposit Account. Termination shall not affect the duties or responsibilities of any party hereto arising out of transactions occurring prior to termination.
Release of Security Interest; Termination of Agreement. This Agreement shall remain in full force and effect until Bank receives at the Banking Office Secured Party's written notice of release of its interest in, or assignment to Borrower of, the Special Deposit Account. Notwithstanding the foregoing, either Secured Party or Bank may terminate this Agreement by giving 30 days' written notice to the other and to Borrower. Following such termination Bank shall follow Secured Party's instructions for the payment of any balance of funds in the Special Deposit Account. Termination shall not affect the duties or responsibilities of any party hereto arising out of transactions occurring prior to termination.
Release of Security Interest; Termination of Agreement. Upon the circumstances set forth in the Loan Agreement, including any applicable payment provisions, the security interests created by this Agreement shall terminate and Secured Party shall promptly execute and deliver to Pledgor such documents and instruments reasonably requested by Pledgor as shall be necessary to evidence termination of all such security instruments given by Pledgor to Secured Party hereunder, including but not limited to the filing of applicable Uniform Commercial Code termination statements and cancellation of this Agreement by written notice to any relevant governmental office or such other Person as may be reasonably requested by Pledgor, and Secured Party shall forthwith cause to be assigned, transferred and delivered any remaining Collateral and money received in respect of the Collateral, to or on the order of Pledgor. The security interest created hereby shall also be released with respect to any portion of the Collateral that is sold, transferred or otherwise disposed of in compliance with the terms and conditions of the Loan Documents.
Release of Security Interest; Termination of Agreement. This Agreement shall remain in full force and effect until Bank receives at the Banking Office Secured Party's written notice of release of its interest in, or assignment to Borrower of, the Special Deposit Account ("Secured Party's Release") (which the Secured Party agrees to deliver upon the occurrence of the Discharge Date). Notwithstanding the foregoing, any of Secured Party, Borrower or Bank may terminate this Agreement by giving 30 days' written notice to the other parties. However, in the event that the Special Deposit Account is not handled in a satisfactory manner by any Borrower or Secured Party, Bank reserves the right to terminate the Agreement upon 10 day's prior written notice to Borrower and Secured Party. Following such termination Bank shall pay any balance of funds in the Special Deposit Account to the Revenue Account (as defined in the Credit Agreement), or as otherwise directed by, or with the approval of, Secured Party. Termination shall not affect the duties or responsibilities of any party hereto arising out of transactions occurring prior to termination.

Related to Release of Security Interest; Termination of Agreement

  • 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 Security Interest The financial institution named below hereby relinquishes any and all right, title, interest, lien or claim of any kind it may have in all mortgage loans described on the attached Schedule A (the “Mortgage Loans”) to be purchased by Xxxxxx Xxxxxxx Mortgage Capital Inc. from the company named on the next page pursuant to that certain Second Amended and Restated Mortgage Loan Sale and Servicing Agreement, dated as of July 1, 2006 and certifies that all notes, mortgages, assignments and other documents in its possession relating to such Mortgage Loans have been delivered and released to the Company or its designees, as of the date and time of the sale of such Mortgage Loans to Xxxxxx Xxxxxxx Mortgage Capital Inc. Such release shall be effective automatically without any further action by any party upon payment in one or more installments, in immediately available funds, of $_____________, in accordance with the wire instructions set forth below. Name, Address and Wire Instructions of Financial Institution ________________________________ (Name) ________________________________ (Address) ________________________________ ________________________________ ________________________________ By:_____________________________

  • Release of Security Interests Without limiting the generality of the foregoing and except as otherwise provided in this Indenture, each Guarantor hereby consents and agrees, to the fullest extent permitted by applicable law, that the rights of the Trustee hereunder, and the liability of the Guarantors hereunder, shall not be affected by any and all releases for any purpose of any collateral, if any, from the Liens and security interests created by any collateral document and that this Guarantee shall continue to be effective or be reinstated, as the case may be, if at any time any payment of any of the Indenture Obligations is rescinded or must otherwise be returned by the Trustee upon the insolvency, bankruptcy or reorganization of the Company or otherwise, all as though such payment had not been made.

  • Termination of Security Interest Upon the full and final payment and performance of all Obligations of the Company under this Indenture and the Notes or upon Legal Defeasance, Covenant Defeasance or satisfaction and discharge of this Indenture in accordance with Article 12 hereof, the Trustee will, at the request of the Company, deliver a certificate to the Collateral Agent stating that such Obligations have been paid in full, and instruct the Collateral Agent to release the Liens pursuant to this Indenture and the Security Documents.

  • Term; Termination of Agreement This Agreement shall continue in force for a period of one year from the date hereof, subject to an unlimited number of successive one-year renewals upon mutual consent of the parties. It is the duty of the Independent Directors to evaluate the performance of the Advisor annually before renewing the Agreement, and each such renewal shall be for a term of no more than one year.

  • Termination of Agreement If this Agreement is terminated by the Representatives in accordance with the provisions of Section 5 or Section 9(a)(i) hereof, the Company shall reimburse the Underwriters for all of their out-of-pocket expenses, including the reasonable fees and disbursements of counsel for the Underwriters.

  • 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.

  • Release of Security (a) If a disposal of any asset subject to security created by a Security Document is made in the following circumstances:

  • TERM, MODIFICATION AND TERMINATION OF AGREEMENT This Agreement with respect to the Fund shall continue in effect until the expiration date set forth on Schedule A (the “Expiration Date”). With regard to the Operating Expense Limits, the Trust’s Board of Trustees and the Adviser may terminate or modify this Agreement prior to the Expiration Date only by mutual written consent. This Agreement shall terminate automatically upon the termination of the Advisory Agreement; provided, however, that the obligation of the Trust to reimburse the Adviser with respect to a Fund shall survive the termination of this Agreement unless the Trust and the Adviser agree otherwise.

  • Reaffirmation of Security Interest The Borrower hereby reaffirms as of the date hereof each and every security interest and Lien granted in favor of the Security Agent and the Banks under the Loan Documents, and agrees and acknowledges that such security interests and Liens shall continue from and after the date hereof and shall remain in full force and effect from and after the date hereof, in each case after giving effect to the Credit Agreement as amended by this Amendment, and the Obligations secured thereby and thereunder shall include the Borrower’s obligations under the Credit Agreement as amended by this Amendment. Each such reaffirmed security interest and Lien remains and shall continue to remain in full force and effect and is hereby in all respects ratified and confirmed.

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