Termination of Existing Pledge Agreement Sample Clauses

Termination of Existing Pledge Agreement. Upon the execution of the U.S. Pledge Agreement, (a) the Administrative Agent, the Lenders and the Parent agree that that certain Pledge Agreement, dated as of September 6, 2011, between the Parent, as pledgor of the Equity Interests of the Borrower thereunder, and the Administrative Agent, as pledge (the “Existing QRCI Pledge Agreement”), shall terminate and any Liens granted by the Parent in such Equity Interests or any other item of collateral under the Existing QRCI Pledge Agreement shall be released, except to the extent that the Global Administrative Agent shall have any right, title or interest in such collateral under the U.S. Pledge Agreement, in which case such right, title or interest shall be deemed transferred to the Global Administrative Agent under U.S. Pledge Agreement. At the cost of the Parent, the Administrative Agent shall promptly execute any reasonably requested release documentation and promptly return to the Parent any stock certificates, instruments and other property pledged under the Existing QRCI Pledge Agreement which is not pledged under the U.S. Pledge Agreement.
Sample 1
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Termination of Existing Pledge Agreement. Upon the execution of the U.S. Pledge Agreement, (a) the Administrative Agent, the Lenders and the Parent agree that that certain Pledge Agreement, dated as of September 6, 2011, between the Parent, as pledgor of the Equity Interests of the Borrower thereunder, and the Administrative Agent, as pledge (the “Existing QRCI Pledge Agreement”), shall terminate and any Liens granted by the Parent in such Equity Interests or any other item of collateral under the Existing QRCI Pledge Agreement shall be released, except to the extent that the Global Administrative Agent shall have any right, title or interest in such collateral under the U.S. Pledge Agreement, in which case such right, title or interest shall be deemed transferred to the Global Administrative Agent under U.S. Pledge Agreement. At the cost of the Parent, the Administrative Agent shall promptly execute any reasonably requested release documentation and promptly return to the Parent any stock certificates, instruments and other property pledged under the Existing QRCI Pledge Agreement which is not pledged under the U.S. Pledge Agreement. The parties hereto have caused this Agreement to be duly executed as of the day and year first above written. QUICKSILVER RESOURCES CANADA INC., an Alberta, Canada corporation By: /s/ Xxxxxxx Xxxxx XxXxxxx Xxxxxxx Xxxxx XxXxxxx, Vice President – Treasurer QUICKSILVER RESOURCES INC., a Delaware corporation By: /s/ Xxxxxx X. Xxxx Xxxxxx X. Xxxx, Senior Vice President – Chief Financial Officer JPMORGAN CHASE BANK, N.A., as Global Administrative Agent By: /s/ Xxxxxxx Xxxxxx Name: Xxxxxxx Xxxxxx Title: Authorized Officer JPMORGAN CHASE BANK, N.A., TORONTO BRANCH, as a Lender, Issuing Bank, and as Administrative Agent By: /s/ Xxxxxxx X. Xxx Xxxxxxx X. Xxx, Authorized Officer THE BANK OF NOVA SCOTIA, as a Lender and as Syndication Agent By: /s/ Xxxx Xxxxxxx Name: Xxxx Xxxxxxx Title: Director THE TORONTO-DOMINION BANK, as a Lender and as Co-Documentation Agent By: /s/ Desbil Xxxxx Name: Desbil Xxxxx Title: Authorized Signatory CANADIAN IMPERIAL BANK OF COMMERCE, as a Lender and as Co-Documentation Agent By: /s/ Xxxxx Xxxxxxxxxx Name: Xxxxx Xxxxxxxxxx Title: Executive Director By: /s/ Xxxxx Xxxxx Name: Xxxxx Xxxxx Title: Managing Director BANK OF AMERICA, N.A. (by its Canada Branch), as a Lender By: /s/ Xxxxxx Sales xx Xxxxxxx Name: Xxxxxx Sales xx Xxxxxxx Title: Vice President BRANCH BANKING & TRUST COMPANY, as a Lender By: /s/ Xxxx X. Xxxxxxx Name: Xxxx X. Xxxxxxx Title: Se...
Sample 1

Related to Termination of Existing Pledge Agreement

  • Termination of Existing Agreement The Existing Agreement is hereby terminated and replaced and superseded by this Agreement, effective August 1, 2001. All payments, of Base Salary or otherwise, made by the Company under the Existing Agreement with respect to any period commencing on or after August 1, 2001 shall be credited against the corresponding payment obligations of the Company under this Agreement.

  • Termination of Existing Credit Agreement Receipt by the Administrative Agent of evidence that the Existing Credit Agreement concurrently with the Closing Date is being terminated and all Liens securing obligations under the Existing Credit Agreement concurrently with the Closing Date are being released.

  • Termination of Existing Agreements Any previous employment agreement between Executive on the one hand and Employer or any of Employer’s Affiliates (as hereinafter defined) on the other hand is hereby terminated.

  • Ratification of Existing Agreements All existing Dual Enrollment agreements between the Trustees and the Private School are hereby modified to conform to the terms of this agreement and the appendices of this document.

  • Stock Pledge Agreement The term "Stock Pledge Agreement" shall have the meaning set forth in Section 6.3(xiii).

  • Termination of Existing Tax Sharing Agreements Any and all existing Tax sharing agreements (whether written or not) binding upon the Company shall be terminated as of the Closing Date. After such date neither the Company nor any of its Representatives shall have any further rights or liabilities thereunder.

  • Amendment and Restatement of Existing Credit Agreement Upon the execution and delivery of this Agreement, the Existing Credit Agreement shall be amended and restated to read in its entirety as set forth herein. With effect from and including the Effective Date, (i) the Commitments of each Lender party hereto shall be as set forth on Appendix A (and (a) to the extent that such Lender constitutes a lender under the Existing Credit Agreement (a “Consenting Lender”), such Consenting Lender’s commitment thereunder shall be terminated and replaced with its respective Commitment hereunder and (b) any lender under the Existing Credit Agreement that is not listed on Appendix A shall cease to be a Lender hereunder and its commitment thereunder shall be terminated; provided that, for the avoidance of doubt, such lender under the Existing Credit Agreement shall continue to be entitled to the benefits of Section 9.03 of the Existing Credit Agreement), (ii) all accrued and unpaid interest and fees and other amounts owing under the Existing Credit Agreement shall have been paid by the Borrower under the Existing Credit Agreement, whether or not such interest, fees or other amounts would otherwise be due and payable at such time pursuant to the Existing Credit Agreement, (iii) the Commitment Ratio of the Consenting Lenders shall be redetermined based on the Commitments set forth in the Appendix A and the participations of the Consenting Lenders in, and the obligations of the Consenting Lenders in respect of, any Letters of Credit or Swingline Loans outstanding on the Effective Date shall be reallocated to reflect such redetermined Commitment Ratio and (iv) each JLA Issuing Bank shall have the Fronting Sublimit set forth in Appendix B.

  • Pledge Agreement Other than as expressly permitted hereunder, the Pledge Agreement or any other Security Document pursuant to which the Capital Stock or Stock Equivalents of the Borrower or any Subsidiary is pledged or any material provision thereof shall cease to be in full force or effect (other than pursuant to the terms hereof or thereof or as a result of acts or omissions of the Collateral Agent or any Lender) or any pledgor thereunder or any Credit Party shall deny or disaffirm in writing any pledgor’s or Credit Party’s obligations under any Security Document; or

  • Pledge Agreements Neither the Pledge Agreement nor the Holdings Guaranty and Pledge Agreement, nor any provision thereof may be waived, amended or modified except pursuant to an agreement or agreements in writing entered into by the Credit Parties party thereto, and by the Administrative Agent with the consent of the Required Lenders, provided that, without the prior consent of each Lender, the Administrative Agent shall not (except as provided herein or in the Pledge Agreement) release all or any substantial part of the collateral or otherwise terminate all or any substantial part of the Liens under the Pledge Agreement or the Holdings Guaranty and Pledge Agreement or the Guarantee under the Holdings Guaranty and Pledge Agreement, agree to additional obligations being secured by all or any substantial part of such collateral (unless the Lien for such additional obligations shall be junior to the Lien in favor of the other obligations secured by the Pledge Agreement or the Holdings Guaranty and Pledge Agreement, in which event the Administrative Agent may consent to such junior Lien provided that it obtains the consent of the Required Lenders thereto), alter the relative priorities of the obligations entitled to the benefits of the Liens created under the Pledge Agreement or the Holdings Guaranty and Pledge Agreement with respect to all or any substantial part of such collateral, except that no such consent shall be required, and the Administrative Agent is hereby authorized, (i) to release any Lien covering property that is the subject of either a disposition of property permitted hereunder or a disposition to which the Required Lenders have consented, and (ii) in the case of any equity interest in (x) any Foreign Subsidiary owned directly by the Company or any Subsidiary Guarantor, to release any Lien in favor of the Administrative Agent pursuant to the Pledge Agreement to the extent covering more than 65% of the voting capital stock of such Foreign Subsidiary (it being understood that the Administrative Agent shall not be required to release any other capital stock of a Foreign Subsidiary owned directly by the Company or any Subsidiary Guarantor), and (y ) any Foreign Subsidiary which is not owned directly by the Company or any Subsidiary Guarantor, to release any lien in favor of the Administrative Agent pursuant to the Pledge Agreement on any equity interests in such Foreign Subsidiary. Nothing in this Section 10.02(d) shall be deemed to limit the provisions of Section 10.12.

  • DESCRIPTION OF EXISTING INDEBTEDNESS AND OBLIGATIONS Among other indebtedness and obligations which may be owing by Borrower to Bank, Borrower is indebted to Bank pursuant to a loan arrangement dated as of June 11, 2003, evidenced by, among other documents, a certain Loan and Security Agreement dated as of June 11, 2003 between Borrower and Bank, as amended from time to time (as amended, the "Loan Agreement"). Capitalized terms used but not otherwise defined herein shall have the same meaning as in the Loan Agreement.

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