RELEASE OF THE PLEDGES Sample Clauses

RELEASE OF THE PLEDGES. 8.1 Upon the expiry of the Security Period, the Pledgee shall, at the cost and expense of the Pledgor, confirm to the Pledgor in writing and as a matter of record only the release of the Pledges and surrender the surplus proceeds, if any, resulting from any realisation of the Pledges to the Pledgor. This shall not apply to the extent that a third party is entitled to the Accounts or to such proceeds. For the avoidance of doubt, the Parties are aware that, upon the expiry of the Security Period, the Pledges will expire and cease to exist due to their accessory nature (Akzessorietät) by operation of German law. For avoidance of doubt once the repayment obligations have been discharged and there is no claw-back or other similar litigation pending, the Pledges will be released.
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RELEASE OF THE PLEDGES. 7.1 Upon full and final satisfaction of all Secured Obligations, the Collateral Agent, acting on behalf of the Pledgees, shall at the cost and expense of the Pledgor confirm to the Pledgor in writing the release of the Pledges, do everything necessary to effect that release, and surrender the surplus proceeds, if any, resulting from any realization of the Pledges to the Pledgor. This shall not apply to the extent that the Pledgees have to surrender the Accounts or such proceeds to a third party who is entitled to the Accounts or to such proceeds. For the avoidance of doubt, the Parties are aware that, upon the complete and final satisfaction of all Secured Obligations, the Pledges will expire and cease to exist due to their accessory nature (Akzessorietät) by operation of German law.
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RELEASE OF THE PLEDGES. This Pledge Agreement and these Pledges shall terminate when all the Secured Liabilities have been paid in full in cash or otherwise in accordance with the provisions of section 12.03
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RELEASE OF THE PLEDGES. 7.1 Upon full and final satisfaction of all Secured Obligations, the Collateral Agent, acting on behalf of the Pledgees, shall at the cost and expense of the Pledgor confirm to the Pledgor in writing the release of the Pledges, do everything necessary to effect that release, and surrender the surplus proceeds, if any, resulting from any realization of the Pledges to the Pledgor. This shall not apply to the extent that the Pledgees have to surrender the Accounts or such proceeds to a third party who is entitled to the Accounts or to such proceeds. For the ABL Loan: Account Pledge Agreement avoidance of doubt, the Parties are aware that, upon the complete and final satisfaction of all Secured Obligations, the Pledges will expire and cease to exist due to their accessory nature (Akzessorietät) by operation of German law.
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Related to RELEASE OF THE PLEDGES

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

  • The Pledge As collateral security for the timely and complete payment and performance when due (whether at stated maturity, by acceleration or otherwise) of any or all of the payments due by Party C, including without limitation the consulting and services fees payable to the Pledgee under the Business Cooperation Agreement, Pledgor hereby pledges to Pledgee a first security interest in all of Pledgor’s right, title and interest, whether now owned or hereafter acquired by Pledgor, in the Equity Interest of Party C.

  • Term of the Pledge shall refer to the term set forth in Section 3 of this Agreement.

  • ENFORCEMENT OF THE PLEDGE 6.1 If (i) an Enforcement Event has occurred and is continuing and (ii) the requirements set forth in Sections 1273 para 2, 1204 et seq. of the German Civil Code with regard to the enforcement of the Pledges are met (Pfandreife), in particular, if any of the Obligations have become due and payable, then in order to enforce the Pledges, the Collateral Agent (acting on the instructions of the Secured Parties) may at any time thereafter avail itself of all rights and remedies that a pledgee has against a pledgor under the laws of the Federal Republic of Germany.

  • Covenants as to the Pledged Collateral So long as any Secured Obligations shall remain outstanding, the Pledgor will, unless the Required Holders, shall otherwise consent in writing:

  • THE PLEDGEE AS AGENT The Pledgee will hold in accordance with this Agreement all items of the Collateral at any time received under this Agreement. It is expressly understood and agreed by each Secured Creditor that by accepting the benefits of this Agreement each such Secured Creditor acknowledges and agrees that the obligations of the Pledgee as holder of the Collateral and interests therein and with respect to the disposition thereof, and otherwise under this Agreement, are only those expressly set forth in this Agreement. The Pledgee shall act hereunder on the terms and conditions set forth herein and in Section 12 of the Credit Agreement.

  • Covenants of the Pledgor 5.1 The Pledgor covenants to the Pledgee that he shall:

  • of the Pledge Agreement Upon the occurrence of a Termination Event, the Company shall promptly but in no event later than two Business Days thereafter give written notice to the Agent, the Collateral Agent and to the Holders, at their addresses as they appear in the Register.

  • Delivery of the Pledged Collateral Each Pledgor hereby agrees that:

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