Release Upon Payment. Upon undefeasible payment in full of the Obligations secured hereby, Lender agrees to release all Collateral from the security interest. Liens and pledges secured hereby, such releases to be prepared by Lender and delivered to GLCA for filing by GLCA (at Borrowers' sole expense) within a reasonable time after payment of the Obligations.
Release Upon Payment. (1) Subject to Subsection (2) hereof, upon payment by the Borrower of all of the Obligations and performance of all other obligations of the Borrower under the Credit Documents, the Security Agent shall, for and on behalf of the Lenders, at the expense of the Borrower, execute and deliver such discharges, releases and other documents as may reasonably be required to release and discharge the Lenders' interest in the Security. Partial repayment of the Obligations shall not entitle the Borrower to the release or discharge of the Lenders' interest in the Security, in whole or in part.
(2) If, following payment by the Borrower of all of the Obligations the Agent reasonably considers that there is a material risk that such payment may be set aside as a result of the insolvency of the Borrower, then the Agent may request and, if the Borrower is solvent, the Borrower shall provide a certificate of a senior officer of the Borrower certifying the solvency of the Borrower, supported by consolidated annual and quarterly Financial Statements for the Borrower's most recently completed financial year and quarter for which such statements are available, and the Security Agent's obligation to provide the releases, discharges and other deliveries required under Subsection (1) hereof shall be conditional upon receipt of such solvency certificate and Financial Statements.
Release Upon Payment. Upon payment by the Borrower of all of the Obligations and performance of all other obligations of the Borrower under the Credit Documents, the Security Agent shall, at the expense of the Borrower, execute and deliver such discharges, releases and other documents as may reasonably be required to release and discharge the Security. Partial repayment of the Obligations shall not entitle the Borrower to the release or discharge of the Security, in whole or in part.
Release Upon Payment. At such time as (i) all Secured Obligations shall be paid full (or, in the case of the 2010 Notes or 2012 Notes, defeased pursuant to Article XII of the 2010 Notes Indenture or 2012 Notes Indenture, as the case may be), (ii) any commitments pursuant to which Secured Obligations may be Incurred are no longer in effect, (iii) any letters of credit issued under any First Lien Documents or Second Lien Documents are no longer outstanding and have been discharged or fully cash collateralized in accordance with the terms of the applicable First Lien Document or Second Lien Documents and (iv) the Collateral Agent shall have received an Officers’ Certificate to the effect of the foregoing clauses (i), (ii) and (iii), the Collateral Agent shall execute and deliver such documents and instruments at the expense of the Loan Parties as shall be requested by the Loan Parties to release the Collateral from the Liens created under the Collateral Documents, and to terminate the Collateral Documents and all obligations (other than those expressly stated to survive such termination) of the Collateral Agent and each Obligor thereunder.
Release Upon Payment. (a) Other than with respect to all obligations due CMC under this Agreement (including the delivery of the Cash Payments, the ICJ Promissory Note, and GBEI Guarantee), CMC together with its affiliates and subsidiaries, and its and their respective agents, attorneys, representatives, and assigns (collectively, the “CMC Releasors”) shall be deemed to have released GBE and all of GBE’s subsidiaries and affiliates (including, without limitation, the subsidiaries and affiliates listed on Exhibit C hereto), Xxxxxx X. XxXxxxx, Xxxxx X. Xxxxxx, Xxxxxx Xxxxxxxxx, Realization Services, Inc., the Clinton Group, and Clinton Lighthouse Equity Strategies Fund (Offshore) Ltd.), and with respect to all of the foregoing its and their present and former divisions, subsidiaries, affiliates, associates, owners, predecessors, principals, agents, servants, employees, shareholders, members, partners, agents, officers, directors, consultants, attorneys, and the successors and assigns of each of the foregoing (collectively, the “GBE Releasees”), from any and all claims, demands, causes of action, indebtedness, and obligations of any kind, nature, or description, whether known or unknown, liquidated or unliquidated, at law or in equity, and whether sounding in tort or contract, that CMC or any CMC Releasors ever had, now have, or hereafter can, may or shall have against any of the GBE Releasees from the beginning of time through the date of this Agreement.
(b) Other than with respect to all obligations due GBE under this Agreement, GBE together with its affiliates and subsidiaries and each of its and their respective agents, attorneys, representatives, and assigns (collectively, the “GBE Releasors”) shall be deemed to have released CMC, each of its subsidiaries and affiliates, and each of its and their present and former divisions, subsidiaries, affiliates, associates, owners, predecessors, principals, agents, servants, employees, shareholders, members, partners, agents, officers, directors, consultants, attorneys, and the successors and assigns of each of the foregoing (collectively, the “CMC Releasees”) from any and all claims, demands, causes of action, indebtedness, and obligations of any kind, nature, or description, whether known or unknown, liquidated or unliquidated, at law or in equity, and whether sounding in tort or contract, that GBE or any GBE Releasors ever had, now have, or hereafter can, may or shall have against any of the CMC Releasees from the beginning of time t...
Release Upon Payment. The Center agrees that, upon payment in full of all obligations of PHEO and SIH to the Center under the terms of the Note, including all interest due thereunder, the Center shall release its security interest in the Collateral. By: /s/ Xxxxxx X Xxxxxxx Xxxxxx X. Xxxxxxx, President Title Holdings Enterprises Durables, S.p.r.l. By: /s/ X.Xxxxxxxxxx Kialeuka Kinzinga X. Xxxxxxxxxx Kialeuka Kinzinga, President Acknowledgment of lien: Social Investment Holdings, Inc. (“SIH”) and PHEO had previously contemplated a joint venture for the purpose developing the HED Concessions. SIH and PHEO came to a mutual agreement that, in lieu of the contemplated joint venture, both parties would benefit from a stock for stock sale of the HED shares for SIH shares by entering into a Conditional Share Exchange Agreement (the “Share Exchange”). It came to the attention of SIH that the Center had advanced funds to PHEO based on PHEO holding the HED ownership. The Board of SIH recognized that this obligation that PHEO has to the Center must be satisfied in conjunction with the closing of the Share Exchange of HED. The closing of the Share Exchange is contingent on SIH raising the $1,000,000 minimum from is Offering. The parties hereto understand that, after the execution of this Agreement, and within 10 days after SIH achieves its minimum, PHEO intends to transfer the HED Shares to SIH in exchange for 500,000 shares of SIH. SIH, by its signature below, acknowledges that it will be taking ownership of the HED Shares subject to the terms of this Security Agreement and the liens granted here within, if the $500,000 Loans have not been satisfied prior to the closing. By: /s/ Xxxx Xxxxxxxx Xxxx Xxxxxxxx, President THIS AGREEMENT ("Agreement") is made and entered into as of the 1st day of July, 2018, by and among Holdings Enterprises Durables, S.p.r.l., (“HED”) a corporation formed in the Democratic Republic of Congo (“DRC”), People Helping Each Other, Incorporated, a Florida nonprofit 501(c)(3) company having an office at 0000 Xxxxx Xxx, Xxxxx, Xxxxxxx 00000 (hereinafter referred to as "PHEO") and Center for Social Change, Inc., a Florida nonprofit 501(c)(3) organization having its office at 0000 Xxxxx Xxx, Xxxxx 000, Xxxxx, Xxxxxxx 00000 (hereinafter referred to as the "Center”).
Release Upon Payment. Notwithstanding anything to the contrary contained herein, if the Indebtedness and all other amounts secured hereby, and any extensions, modifications or renewals thereof, shall be well and truly paid according to its and their tenor, the Revolving Credit Commitments shall have terminated and there shall be no Letters of Credit outstanding, then this Mortgage shall become null and void and shall be released in recordable form at the cost of the Mortgagor or the then owner of the Mortgaged Property; otherwise this Mortgage shall remain in full force and effect.
Release Upon Payment. Payment and/or delivery of the Escrow Funds and interest earned thereon in accordance with the terms, conditions and provisions of this Escrow Agreement shall fully and forever discharge and exonerate the Escrow Agent hereunder from any and all further liability or obligation of any nature or character, at law or in equity, to CNB Bancorp, Inc. or the Office of the Comptroller under this Escrow Agreement.
Release Upon Payment. Within five (5) Business Days of Xxxxxx’s receipt of complete payment of the Loan Amount due under this Agreement, (i) the Lender shall surrender the Note as cancelled or provide such documentation evidencing the same, and (ii) the Lender shall terminate the Security Agreement and take all necessary steps (including UCC filings) to effectuate the full release and termination of the Security Agreement.
Release Upon Payment. A Release may be effected upon payment of the Release Price calculated pursuant to the requirements of Section 3.04(c). Notwithstanding the foregoing, a Release may be permitted by Lender for an amount less than the Release Price only if the release improves the Collateral Pool based on factors that are consistent with Lender’s Underwriting Requirements and results in improvement in one or both of the following areas: the then current Aggregate Debt Service Coverage Ratio or the then current Aggregate Loan to Value Ratio.
