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.
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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. 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. 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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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. 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. 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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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 Interest The Borrower hereby reaffirms as of the date hereof each and every security interest and Lien granted in favor of the Security Agent and the Banks under the Loan Documents, and agrees and acknowledges that such security interests and Liens shall continue from and after the date hereof and shall remain in full force and effect from and after the date hereof, in each case after giving effect to the Credit Agreement as amended by this Amendment, and the Obligations secured thereby and thereunder shall include the Borrower’s obligations under the Credit Agreement as amended by this Amendment. Each such reaffirmed security interest and Lien remains and shall continue to remain in full force and effect and is hereby in all respects ratified and confirmed.

  • 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 The Borrower must (at its own cost) take any action and enter into and deliver any document which is required by the Lender so that a Security Document provides for effective and perfected security in favor of any successor of the Lender, including (but not limited to), promptly after the date hereof:

  • 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.

  • Continuation of Security Interest This is a continuing Agreement and the grant of a security interest hereunder shall remain in full force and effect and all the rights, powers and remedies of Lender hereunder shall continue to exist until the Secured Obligations are paid in full as the same become due and payable and until Lender has executed a written termination statement (which Lender shall execute within a reasonable time after full payment of the Secured Obligations hereunder), reassigning to Borrower, without recourse, the Collateral and all rights conveyed hereby and returning possession of the Collateral to Borrower. The rights, powers and remedies of Lender hereunder shall be in addition to all rights, powers and remedies given by statute or rule of law and are cumulative. The exercise of any one or more of the rights, powers and remedies provided herein shall not be construed as a waiver of or election of remedies with respect to any other rights, powers and remedies of Lender.

  • Confirmation of Security Borrower hereby confirms and agrees that all of the Collateral Documents that presently secure the Obligations shall continue to secure, in the same manner and to the same extent provided therein, the payment and performance of the Obligations as described in the Original Credit Agreement as modified by this Amendment.

  • Duration of Security Interest Lender’s security interest in the Collateral shall continue until the payment in full and the satisfaction of all Obligations and termination of Lender’s commitment to fund any Loans, whereupon such security interest shall terminate. Lender shall, at Borrower’s sole cost and expense, execute such further documents and take such further actions as may be reasonably necessary to make effective the release contemplated by this Section 4.3, including duly executing and delivering termination statements for filing in all relevant jurisdictions under the Code.

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