Termination of Certain Existing Security Interests Sample Clauses

Termination of Certain Existing Security Interests. With respect to all Released Collateral, upon the Effective Date the Borrowers are authorized to prepare for filing by the Administrative Agent Uniform Commercial Code partial release statements identifying such Released Collateral, but only such Released Collateral, and, to the extent same is at any time provided to the Administrative Agent prior to the Trigger Event and is in form and substance reasonably satisfactory to the Administrative Agent, same shall be filed by the Administrative Agent promptly after its receipt thereof. Any and all actions under this Section shall be without any recourse to or representation or warranty by any Bank (including the Administrative Agent) and shall be at the sole cost and expense of the Borrowers. IT IS EXPRESSLY AGREED THAT REGARDLESS OF WHETHER OR NOT ANY SUCH PARTIAL RELEASE STATEMENTS ARE FILED BY THE ADMINISTRATIVE AGENT, ON THE EFFECTIVE DATE THE ADMINISTRATIVE AGENT'S LIEN IN SUCH RELEASED COLLATERAL SHALL AUTOMATICALLY BE TERMINATED AND OF NO FURTHER FORCE OR EFFECT, SUBJECT, HOWEVER, UPON THE OCCURRENCE OF A TRIGGER EVENT, TO BEING REINSTATED WITH RESPECT TO THAT PORTION OF THE RELEASED COLLATERAL THAT CONSTITUTES SPRINGING COLLATERAL.
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Related to Termination of Certain Existing Security Interests

  • Termination of Certain Rights Any termination of this Lease pursuant to this Article 13 shall cause any right of the Lessee to extend the Term of this Lease, granted to the Lessee herein and any right of the Lessee to purchase the Leased Property contained in this Lease to be terminated and to be without further force or effect.

  • Termination of Certain Agreements On and as of the Closing, the Company shall take all actions necessary to cause the Contracts listed on Schedule 6.04 to be terminated without any further force and effect and without any cost or other liability or obligation to the Company or any of its Subsidiaries, and there shall be no further obligations of any of the relevant parties thereunder following the Closing.

  • Termination of Certain Contracts Purchaser shall have received evidence reasonably acceptable to Purchaser that the Contracts set forth on Schedule 10.3(e)(ix) involving any of the Target Companies and/or Sellers or other Related Persons shall have been terminated with no further obligation or Liability of the Target Companies thereunder.

  • Assumption of Certain Obligations Buyer shall assume only those liabilities related to the Business or Assets which are referred to in Section 2.2(a) or are otherwise expressly assumed in this Agreement (the "Assumed Liabilities").

  • Effect of Certain Events (a) If at any time the Company proposes (i) to sell or otherwise convey all or substantially all of its assets or (ii) to effect a transaction (by merger or otherwise) in which more than 50% of the voting power of the Company is disposed of (collectively, a "Sale or Merger Transaction"), in which the consideration to be received by the Company or its shareholders consists solely of cash, the Company shall give the holder of this Warrant thirty (30) days' notice of the proposed effective date of the transaction specifying that the Warrant shall terminate if the Warrant has not been exercised by the effective date of the transaction.

  • Modification of Certain Agreements The Borrower will not, and will not permit any of its Subsidiaries to, consent to any amendment, supplement, waiver or other modification of, or enter into any forbearance from exercising any rights with respect to the terms or provisions contained in,

  • Notification of Certain Events Prior to the expiration of this Warrant pursuant to Section 8, in the event that the Company shall authorize:

  • Termination of Certain Covenants The covenants set forth in this Section 2 shall terminate and be of no further force or effect upon the earlier of: (i) the consummation of the sale of securities pursuant to a Qualifying IPO; or (ii) the first date upon which none of the Registrable Securities are outstanding.

  • Payments on Termination and Survival of Certain Rights and Obligations Payments to the Advisor pursuant to this Section 13.03 shall be subject to the 2%/25% Guidelines to the extent applicable.

  • Modification of Certain Documents No Group Member shall do any of the following:

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