Termination of Non-Permitted Liens. In the event that the Borrower obtains knowledge of or receives notification from the Administrative Agent of the existence of any outstanding Lien against any property of such Obligor or any of its Subsidiaries, which Lien is not a Permitted Lien, such Obligor shall promptly terminate or cause the termination of such Lien.
Appears in 11 contracts
Samples: Forbearance Agreement and Second Amendment to Credit Agreement and Guaranty (Icagen, Inc.), Forbearance Agreement and Third Amendment to Credit Agreement and Guaranty (Icagen, Inc.), Forbearance Agreement and First Amendment to Credit Agreement and Guaranty (Icagen, Inc.)
Termination of Non-Permitted Liens. In the event that any Responsible Officer of the Borrower obtains knowledge of shall become aware or receives notification from be notified by the Administrative Agent Lenders of the existence of any outstanding Lien against any property Property of such Obligor or any of its SubsidiariesObligor, which Lien is not a Permitted Lien, such Obligor shall use its best efforts to promptly terminate or cause the termination of such Lien.
Appears in 4 contracts
Samples: Credit Agreement (C4 Therapeutics, Inc.), Credit Agreement (C4 Therapeutics, Inc.), Credit Agreement (Chembio Diagnostics, Inc.)
Termination of Non-Permitted Liens. In the event that any Responsible Officer of Borrower shall become aware or be notified by the Borrower obtains knowledge of or receives notification from the Administrative Agent Lenders of the existence of any outstanding Lien against any property Property of such Obligor or any of its SubsidiariesObligor, which Lien is not a Permitted Lien, such Obligor shall use its best efforts to promptly terminate or cause the termination of such Lien.
Appears in 4 contracts
Samples: Credit Agreement (IsoPlexis Corp), Credit Agreement and Guaranty (IsoPlexis Corp), Credit Agreement and Guaranty (IsoPlexis Corp)
Termination of Non-Permitted Liens. In the event that the Borrower obtains shall obtain knowledge of of, or receives notification from 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 the Borrower or any of its Subsidiaries, which Lien is not a Permitted Lien, such Obligor the Borrower shall use commercially reasonable efforts to promptly terminate or cause the termination of such Lien.
Appears in 2 contracts
Samples: Credit Agreement (Zymergen Inc.), Credit Agreement (Zymergen Inc.)
