Termination of Non-Permitted Liens. In the event that any Obligor shall become aware of, or be notified by the Administrative Agent or any Lender of the existence of, any outstanding Lien against any assets or property of such Obligor or any of its Subsidiaries, which Lien is not a Permitted Lien, such Obligor shall use its commercially reasonable efforts to promptly terminate or cause the termination of such Lien.
Appears in 9 contracts
Samples: Credit Agreement and Guaranty (scPharmaceuticals Inc.), Credit Agreement and Guaranty (Harrow Health, Inc.), Credit Agreement and Guaranty (Harrow Health, Inc.)
Termination of Non-Permitted Liens. In the event that any Responsible Officer of any Obligor shall become aware of, or be notified by the Administrative Agent or any Lender Lenders of the existence of, of any outstanding Lien against any assets or property Property of such any Obligor or any of its Subsidiaries, which Lien is not a Permitted Lien, such Obligor shall use its commercially reasonable best efforts to promptly terminate or cause the termination of such Lien.
Appears in 8 contracts
Samples: Credit Agreement (SOPHiA GENETICS SA), Credit Agreement (GeneDx Holdings Corp.), Credit Agreement and Guaranty (Biodesix Inc)
Termination of Non-Permitted Liens. In the event that any Obligor shall become aware of, or be notified by the Administrative Agent or any Lender of the existence of, any outstanding Lien against any assets or property of such Obligor or any of its Subsidiaries, which Lien is not a Permitted Lien, such Obligor shall use its commercially reasonable efforts to promptly terminate or cause the termination of such Lien. This provision shall not limit any rights or remedies the Administrative Agent and Lenders have upon the occurrence and during the continuance of an Event of Default.
Appears in 5 contracts
Samples: Credit Agreement and Guaranty (BioXcel Therapeutics, Inc.), Credit Agreement (Tpi Composites, Inc), Credit Agreement and Guaranty and Revenue Interest Financing Agreement (Impel Pharmaceuticals Inc)
Termination of Non-Permitted Liens. In the event that any Obligor shall become aware of, or be notified by the Administrative Agent or any Lender Lenders of the existence of, of any outstanding Lien against any assets or property Property of such Obligor or any of its SubsidiariesObligor, which Lien is not a Permitted Lien, such Obligor shall use its commercially reasonable efforts to promptly terminate or cause the termination of such Lien.
Appears in 5 contracts
Samples: Term Loan Agreement, Term Loan Agreement (ViewRay, Inc.), Term Loan Agreement (ViewRay, Inc.)
Termination of Non-Permitted Liens. In the event that any Obligor shall become aware obtain knowledge of, or be notified by the Administrative Agent or any Lender of the existence of, any outstanding Lien against any assets or property of such Obligor or any of its Subsidiaries, which Lien is not a Permitted Lien, such Obligor shall use its commercially reasonable best efforts to promptly terminate or cause the termination of such Lien.
Appears in 2 contracts
Samples: Credit Agreement and Guaranty (Menlo Therapeutics Inc.), Credit Agreement and Guaranty (Foamix Pharmaceuticals Ltd.)
Termination of Non-Permitted Liens. In the event that any an Obligor shall become aware obtain knowledge of, or be notified by the Administrative Agent or any Lender of the existence of, any outstanding Lien against any assets or property properties of such Obligor or any of its SubsidiariesObligor, which Lien is not a Permitted Lien, such Obligor shall use its commercially reasonable efforts to promptly terminate or cause the termination of such Lien.
Appears in 2 contracts
Samples: Credit Agreement and Guaranty (Oyster Point Pharma, Inc.), Credit Agreement and Guaranty (Oyster Point Pharma, Inc.)
Termination of Non-Permitted Liens. In the event that an Obligor or any Obligor of its Subsidiaries shall become aware obtain knowledge of, or be notified by the Administrative Agent or any Lender of the existence of, any outstanding Lien against any assets or property of such Obligor or any of its Subsidiaries, which Lien is not a Permitted Lien, such Obligor shall use its best commercially reasonable efforts to promptly terminate or cause the termination of such Lien.
Appears in 2 contracts
Samples: Credit Agreement (Pear Therapeutics, Inc.), Credit Agreement (Pear Therapeutics, Inc.)
Termination of Non-Permitted Liens. In the event that any Obligor shall become aware of, or be notified by the Administrative Agent or any Lender of the existence of, any outstanding Lien against any assets or property of such Obligor or any of its Subsidiaries, which Lien is not a Permitted Lien, such Obligor shall use its commercially reasonable efforts to promptly terminate or cause the termination of such Lien. Any such termination shall not act as a waiver or otherwise limit any Default or Event of Default arising as a result of the existence of such Lien.
Appears in 1 contract
Termination of Non-Permitted Liens. In the event that any Obligor shall become aware of, or be notified by the Administrative Agent or any Lender Lenders of the existence of, of any outstanding Lien against any assets or property Property of such Obligor or any of its SubsidiariesObligor, which Lien is not a Permitted Lien, such Obligor shall use its commercially reasonable efforts to promptly terminate or cause the termination of such Lien.
Appears in 1 contract
Termination of Non-Permitted Liens. In the event that such Obligor or any Obligor of its Subsidiaries shall become aware of, or be notified by the Administrative Agent or any Lender of the existence of, of any outstanding Lien against any assets or property of such Obligor or any of its Subsidiaries, which Lien is not a Permitted Lien, such Obligor shall use its commercially reasonable efforts to promptly terminate or cause the termination of such Lien.
Appears in 1 contract
Termination of Non-Permitted Liens. In the event that any Obligor shall become aware of, or be notified by the Administrative Agent or any Lender of the existence of, any outstanding Lien against any assets or property of such Obligor or any of its Subsidiaries, which Lien is not a Permitted Lien, such Obligor shall use its commercially reasonable best commercial efforts to promptly terminate or cause the termination of such Lien.
Appears in 1 contract
Samples: Credit Agreement and Guaranty (Adma Biologics, Inc.)
