Releases of Pledged Collateral. The Administrative Agent may release any of the Pledged Collateral from this 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 Agreement as to any Pledged Collateral not expressly released or substituted, and this Agreement shall continue as a first priority lien on all Pledged Collateral not expressly released or substituted.
Releases of Pledged Collateral. The Secured Party agrees to release to Pledgor from the operation of this Pledge Agreement 198,238 of the Pledged Shares and 198,238 of the Pledged Warrants when $720,000 of the Pledgor’s Obligations has been paid. The Secured Party agrees to release to Pledgor the balance of the Pledged Collateral from the operation of this Pledge Agreement when $1,260,000 of the Pledgor’s Obligations has been paid.
Releases of Pledged Collateral. (a) Notwithstanding anything to the contrary contained herein or in any other Loan Document, the Administrative Agent is hereby irrevocably authorized by each Lender and each Issuing Bank (without requirement of notice to or consent of any Lender or any Issuing Bank) to take, and the Administrative Agent hereby agrees to take promptly, at the Borrower’s expense, any action requested by the Borrower having the effect of releasing, or evidencing the release of, the Pledged Collateral under the circumstances described in this Section 9.19.
Releases of Pledged Collateral. (i) If (x) any Pledged Collateral shall be sold or is to be sold as part of or in connection with any Disposition permitted under the Credit Agreement or under any other Loan Document or (y) the release of any Pledged Collateral shall approved, authorized or ratified in writing in accordance with Section 11.01 of the Credit Agreement, then the Administrative Agent, at the request and sole expense of such Pledgor, shall release the Liens created hereby or by any other Security Instrument on such Pledged Collateral in accordance with Section 9.10 of the Credit Agreement.
Releases of Pledged Collateral. Liens granted to or held by the Administrative Agent will be automatically released from the Pledged Collateral upon Security Termination. Upon any such release, the Administrative Agent will deliver to the Pledgor, at its sole expense, without any representations, warranties or recourse of any kind whatsoever, all Pledged Collateral held by the Administrative Agent hereunder, in respect to it, and execute and deliver to it such documents as the Pledgor shall reasonably request to evidence such termination.
