Termination of Security Agreements Sample Clauses

Termination of Security Agreements. (a) Effective as of the date hereof (i) the Security Agreements (as hereinafter defined) are terminated and are null and void and of no further force and effect, and none of the parties thereto shall have any rights or obligations thereunder; and (ii) each Selling Shareholder releases and terminates all pledges, liens, charges, encumbrances and security interests of every kind and nature granted by the Company to such Selling Shareholder on or with respect to any shares of capital stock of Paragon (the “Paragon Stock”). Simultaneously with the execution and delivery of this Agreement by the parties hereto, the Selling Shareholders shall deliver to the Company all certificates representing the Paragon Stock which have been pledged to, or otherwise are in the possession or control of, the Selling Shareholders. (b) For purposes of this Agreement, “Security Agreements” shall mean, collectively, (i) the Security Agreement dated February 24, 2004, between the Company and Bright; (ii) the Security Agreement dated February 24, 2004, between the Company and Xxxxxxxx; (iii) the Security Agreement dated February 24, 2004, between the Company and Luther; (iv) the Security Agreement dated February 24, 2004, between the Company and Xxxxxx; (v) the Pledge and Security Agreement dated September 29, 2004, between the Company and Xxxxxxxx; (vi) the Pledge and Security Agreement dated September 29, 2004, between the Company and Luther; and (vii) any other agreement pursuant to which the Company created, assigned, hypothecated, pledged or granted to any Selling Shareholder a security interest in any Paragon Stock.
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Termination of Security Agreements. The Security Agreements dated December 18, 2007 as between the Company and its wholly owned subsidiary, Ebix Australia Pty Limited, a corporation duly organized and incorporated under the laws of the Commonwealth of Australia (together the “Grantors”), and the underlying security interests contemplated therein, are hereby terminated in their entirety as of August 24, 2009.
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Termination of Security Agreements. At the Closing, the Security Agreements shall be deemed terminated, and all terms and references thereto in the November SPA shall be deemed null and void.
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Termination of Security Agreements. Upon the terms and subject to the conditions of this Agreement, at the Closing, the Security Agreement dated as of September 30, 1994, made by the Company to Posi-Trak (the "First Security Agreement") will terminate. Upon the terms and subject to the conditions of this Agreement, at the Closing, Posi- Trak will release and deliver the certificates representing the Pledged Shares and any other Pledged Collateral (each as defined in the First Security Agreement). Upon the terms and subject to the conditions of this Agreement, at the Closing, the Security Agreement dated as of March 23, 1995, made by the Company to Xxxx Inc. (the "Second Security Agreement") will terminate. Upon the terms and subject to the conditions of this Agreement, at the Closing, Posi-Trak will release and deliver the certificates representing the Pledged Shares and any other Pledged Collateral (each as defined in the Second Security Agreement).
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Termination of Security Agreements. On or prior to the Agreement Date (but subject to the consummation of the Merger) all security agreements identified on SCHEDULE
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Termination of Security Agreements. The Security Agreement by Ruud Lighting in favor the Banks dated May 21, 1999 and the Security Agreement by Kramer Lighting in favor of the Banks dated May 21, 1999 are hereby txxxxxxted and the collateral secured thereunder is hereby released.
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Termination of Security Agreements. The Security Agreements are hereby terminated and the security interests created thereby are released.
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Termination of Security Agreements. Upon the receipt of the Collateral by the Creditor, the Security Agreements shall immediately terminate and be of no further force of effect.
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Related to Termination of Security Agreements

  • Termination of Security Interests Upon the payment in full of the Obligations and satisfaction of all Borrower’s obligations under this Agreement and the other Loan Documents, and if Lender has no further obligations under its Commitment, the security interest granted hereby shall terminate and all rights to the Collateral shall revert to Borrower. Upon any such termination, the Lender shall, at Borrower’s expense, execute and deliver to Borrower such documents as Borrower shall reasonably request to evidence such termination.

  • Termination of Security Interest Upon the payment in full of all Obligations, the security interest granted herein shall terminate and all rights to the Collateral shall revert to Debtor. Upon such termination, Secured Party hereby authorizes Debtor to file any UCC termination statements necessary to effect such termination and Secured Party will execute and deliver to Debtor any additional documents or instruments as Debtor shall reasonably request to evidence such termination.

  • Reaffirmation of Security Interests Each Loan Party (a) affirms that each of the Liens granted in or pursuant to the Loan Documents are valid and subsisting and (b) agrees that this Amendment does not in any manner impair or otherwise adversely affect any of the Liens granted in or pursuant to the Loan Documents.

  • Termination of Security Interests; Release of Collateral Upon payment in full of all Secured Obligations, the Security Interests shall terminate and all rights to the Collateral shall revert to Debtor. Upon such termination of the Security Interest or release of any Collateral, the Secured Party will, at the expense of Debtor, execute and deliver to Debtor such documents as Debtor shall reasonably request to evidence the termination of the Security Interest or the release of such Collateral, as the case may be.

  • Perfection of Security Each Obligor shall have duly authorized, executed, acknowledged, delivered, filed, registered and recorded such security agreements, notices, financing statements, memoranda of intellectual property security interests and other instruments as the Agent may have reasonably requested in order to perfect the Liens purported or required pursuant to the Credit Documents to be created in the Credit Security and shall have paid all filing or recording fees or taxes required to be paid in connection therewith, including any recording, mortgage, documentary, transfer or intangible taxes.

  • Protection of Security Interest With respect to the Collateral Portfolio acquired by the Borrower, the Borrower will (i) acquire such Collateral Portfolio pursuant to and in accordance with the terms of the Contribution Agreement, (ii) at the expense of the Servicer, on behalf of the Borrower take all action necessary to perfect, protect and more fully evidence the Borrower’s ownership of such Collateral Portfolio free and clear of any Lien other than the Lien created hereunder and Permitted Liens, including, without limitation, (a) with respect to the Loan Assets and that portion of the Collateral Portfolio in which a security interest may be perfected by filing, filing and maintaining (at the expense of the Servicer, on behalf of the Borrower) effective financing statements against the Transferor in all necessary or appropriate filing offices, (including any amendments thereto or assignments thereof) and filing continuation statements, amendments or assignments with respect thereto in such filing offices, (including any amendments thereto or assignments thereof) and (b) executing or causing to be executed such other instruments or notices as may be necessary or appropriate, (iii) at the expense of the Servicer, on behalf of the Borrower, take all action necessary to cause a valid, subsisting and enforceable first priority perfected security interest, subject only to Permitted Liens, to exist in favor of the Collateral Agent (for the benefit of the Secured Parties) in the Borrower’s interests in all of the Collateral Portfolio being Pledged hereunder including the filing of a UCC financing statement in the applicable jurisdiction adequately describing the Collateral Portfolio (which may include an “all asset” filing), and naming the Borrower as debtor and the Collateral Agent as the secured party, and filing continuation statements, amendments or assignments with respect thereto in such filing offices (including any amendments thereto or assignments thereof), (iv) permit the Administrative Agent or its agents or representatives to visit the offices of the Borrower during normal office hours and upon reasonable advance notice examine and make copies of all documents, books, records and other information concerning the Collateral Portfolio and discuss matters related thereto with any of the officers or employees of the Borrower having knowledge of such matters, and (v) take all additional action that the Administrative Agent or the Collateral Agent may reasonably request to perfect, protect and more fully evidence the respective first priority perfected security interests of the parties to this Agreement in the Collateral Portfolio, or to enable the Administrative Agent or the Collateral Agent to exercise or enforce any of their respective rights hereunder.

  • Confirmation of Security Borrower hereby confirms and agrees that all of the Security Instruments, as may be amended in accordance herewith, which presently secure the Indebtedness shall continue to secure, in the same manner and to the same extent provided therein, the payment and performance of the Indebtedness as described in the Credit Agreement as modified by this Amendment.

  • Perfection of Security Interest Each Borrower shall take all action that may be necessary or desirable, or that Agent may request, so as at all times to maintain the validity, perfection, enforceability and priority of Agent’s security interest in and Lien on the Collateral or to enable Agent to protect, exercise or enforce its rights hereunder and in the Collateral, including, but not limited to, (i) immediately discharging all Liens other than Permitted Encumbrances, (ii) obtaining Lien Waiver Agreements, (iii) delivering to Agent, endorsed or accompanied by such instruments of assignment as Agent may specify, and stamping or marking, in such manner as Agent may specify, any and all chattel paper, instruments, letters of credits and advices thereof and documents evidencing or forming a part of the Collateral, (iv) entering into warehousing, lockbox and other custodial arrangements satisfactory to Agent, and (v) executing and delivering financing statements, control agreements, instruments of pledge, mortgages, notices and assignments, in each case in form and substance satisfactory to Agent, relating to the creation, validity, perfection, maintenance or continuation of Agent’s security interest and Lien under the Uniform Commercial Code or other Applicable Law. By its signature hereto, each Borrower hereby authorizes Agent to file against such Borrower, one or more financing, continuation or amendment statements pursuant to the Uniform Commercial Code in form and substance satisfactory to Agent (which statements may have a description of collateral which is broader than that set forth herein). All charges, expenses and fees Agent may incur in doing any of the foregoing, and any local taxes relating thereto, shall be charged to Borrowers’ Account as a Revolving Advance of a Domestic Rate Loan and added to the Obligations, or, at Agent’s option, shall be paid to Agent for its benefit and for the ratable benefit of Lenders immediately upon demand.

  • Acknowledgment of Perfection of Security Interest Each Loan Party hereby acknowledges that, as of the date hereof, the security interests and liens granted to the Administrative Agent and the Lenders under the Credit Agreement and the other Loan Documents are in full force and effect, are properly perfected and are enforceable in accordance with the terms of the Credit Agreement and the other Loan Documents.

  • Recording of Security Instrument, etc Borrower forthwith upon the execution and delivery of this Security Instrument and thereafter, from time to time, will cause this Security Instrument and any of the Other Security Documents creating a lien or security interest or evidencing the lien hereof upon the Property and each instrument of further assurance to be filed, registered or recorded in such manner and in such places as may be required by any present or future law in order to publish notice of and fully to protect and perfect the lien or security interest hereof upon, and the interest of Lender in, the Property. Borrower will pay all taxes, filing, registration or recording fees, and all expenses incident to the preparation, execution, acknowledgment and/or recording of the Note, this Security Instrument, the Other Security Documents, any note or mortgage supplemental hereto, any security instrument with respect to the Property and any instrument of further assurance, and any modification or amendment of the foregoing documents, and all federal, state, county and municipal taxes, duties, imposts, assessments and charges arising out of or in connection with the execution and delivery of this Security Instrument, any mortgage supplemental hereto, any security instrument with respect to the Property or any instrument of further assurance, and any modification or amendment of the foregoing documents, except where prohibited by law so to do.

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