Termination of Security Interests; Release of Collateral. Upon the repayment in full of all Secured Obligations and the termination of the Commitments under the Loan Agreement, the Security Interests shall terminate and all rights to the Collateral shall revert to Guarantor. At any time and from time to time prior to such termination of the Security Interests, the Agent may release any of the Collateral with the prior written consent of the Lenders. Upon any such termination of the Security Interests or release of Collateral, the Agent will, at the expense of Guarantor, execute and deliver to Guarantor such documents as Guarantor shall reasonably request to evidence the termination of the Security Interests or the release of such Collateral, as the case may be.
Appears in 1 contract
Samples: Guaranty and Pledge Agreement (Anchor Glass Container Corp /New)
Termination of Security Interests; Release of Collateral. Upon the repayment payment in full of all Secured Obligations (other than contingent indemnification obligations to the extent no unsatisfied claim giving rise thereto has been asserted) and the termination of the Commitments all commitments of Agent and Lenders under the Loan AgreementCredit Agreement and all Risk Participation Agreements and Lender Letters of Credit, the Security Interests shall terminate and all rights to the Collateral shall revert to Guarantor. At any time and from time to time prior to such termination of the Security Interests, the Agent may release any of the Collateral with the prior written consent of the LendersDebtor. Upon any such termination of the Security Interests or release of any Collateral, the Agent will, at the expense of GuarantorDebtor, execute and deliver to Guarantor Debtor such documents as Guarantor Debtor shall reasonably request to evidence the termination of the Security Interests or the release of such Collateral, as the case may be.
Appears in 1 contract
Termination of Security Interests; Release of Collateral. Upon the repayment payment in full of all Secured Obligations (other than contingent indemnification obligations to the extent no unsatisfied claim giving rise thereto has been asserted) and the termination of the Commitments all commitments of Trustee and Holders under the Loan AgreementIndenture, the Security Interests shall terminate and all rights to the Collateral shall revert to Guarantor. At any time and from time to time prior to such termination of the Security Interests, the Agent may release any of the Collateral with the prior written consent of the LendersDebtor. Upon any such termination of the Security Interests or release of any Collateral, the Agent Trustee will, at the expense of GuarantorDebtor, execute and deliver to Guarantor Debtor such documents as Guarantor Debtor shall reasonably request to evidence the termination of the Security Interests or the release of such Collateral, as the case may be.
Appears in 1 contract
Termination of Security Interests; Release of Collateral. Upon the repayment in full of all Secured Obligations and the termination of the Commitments under the Loan Credit Agreement, the Security Interests shall terminate and all rights to the Collateral shall revert to GuarantorLTC. At any time and from time to time prior to such termination of the Security Interests, the Agent may release any of the Collateral with the prior written consent of the Lenders. Upon any such termination of the Security Interests or release of Collateral, the Agent will, at the expense of GuarantorLTC, execute and deliver to Guarantor LTC such documents as Guarantor LTC shall reasonably request to evidence the termination of the Security Interests or the release of such Collateral, as the case may be.
Appears in 1 contract
Samples: Credit Agreement (Lets Talk Cellular & Wireless Inc)
Termination of Security Interests; Release of Collateral. Upon the repayment payment in full of all Secured Obligations and Obligations, including the termination conversion of all of the Commitments under Notes into equity securities in accordance with and pursuant to the Loan Agreementterms of the Notes, the Security Interests shall immediately terminate and all rights to the Collateral shall revert to Guarantor. At any time Debtor automatically and from time without the need for further action to time prior to such termination be taken on the part of the Security Interests, Debtor or the Agent may release any of the Collateral with the prior written consent of the LendersSecured Parties. Upon any such termination of the Security Interests or release of any Collateral, the Agent Secured Parties will, at the expense of GuarantorDebtor, execute and deliver to Guarantor Debtor such documents as Guarantor Debtor shall reasonably request to evidence the termination of the Security Interests or the release of such Collateral, as the case may be.
Appears in 1 contract
Termination of Security Interests; Release of Collateral. Upon the repayment payment in full of all Secured Obligations (other than contingent indemnification obligations to the extent no unsatisfied claim giving rise thereto has been asserted) and the termination of the Commitments under the Loan Agreementall Commitments, Risk Participation Agreements and Lender Letters of Credit, the Security Interests shall terminate and all rights to the Collateral shall revert to Guarantor. At any time and from time to time prior to such termination of the Security Interests, the Agent may release any of the Collateral with the prior written consent of the Lendersapplicable Debtor. Upon any such termination of the Security Interests or release of any Collateral, the Agent will, at the expense of GuarantorDebtors, execute and deliver to Guarantor Debtors such documents as Guarantor Debtors shall reasonably request to evidence the termination of the Security Interests or the release of such Collateral, as the case may be.
Appears in 1 contract
Termination of Security Interests; Release of Collateral. Upon the repayment indefeasible payment in full in cash of all Secured Obligations (other than unasserted indemnity claims) and the termination of all Commitments under and as defined in the Commitments Loan Agreement and all Lender Letters of Credit and risk participation agreements under the Loan Agreement, the Security Interests shall terminate and all rights to the Collateral shall revert to Guarantor. At any time and from time to time prior to such termination of the Security Interests, the Agent may release any of the Collateral with the prior written consent of the LendersDebtor. Upon any such termination of the Security Interests or release of any Collateral, the Senior Agent will, at the expense of GuarantorDebtor, execute and deliver to Guarantor Debtor such documents Documents as Guarantor Debtor shall reasonably request to evidence the termination of the Security Interests or the release of such Collateral, as the case may be.
Appears in 1 contract
Samples: Security Agreement (Recoton Corp)
Termination of Security Interests; Release of Collateral. Upon the repayment payment in full of all Secured Obligations (other than contingent indemnification obligations to the extent no unsatisfied claim giving rise thereto has been asserted) and the termination of the Commitments under the Loan Agreementall Commitments, Risk Participation Agreements and Lender Letters of Credit, the Security Interests shall terminate and all rights to the Collateral shall revert to Guarantor. At any time and from time to time prior to such termination of the Security Interests, the Agent may release any of the Collateral with the prior written consent of the LendersDebtor. Upon any such termination of the Security Interests or release of any Collateral, the Agent will, at the expense of GuarantorDebtor, execute and deliver to Guarantor Debtor such documents as Guarantor Debtor shall reasonably request to evidence the termination of the Security Interests or the release of such Collateral, as the case may be.
Appears in 1 contract
Samples: Security Agreement (Cherokee International Finance Inc)
Termination of Security Interests; Release of Collateral. Upon the repayment payment in full of all Secured Obligations and Obligations, including the termination aggregate principal amount of the Commitments under Notes, including all Interest (as defined in the Loan AgreementNotes), the Security Interests shall immediately terminate and all rights to the Collateral shall revert to Guarantor. At any time Debtor automatically and from time without the need for further action to time prior to such termination be taken on the part of the Security Interests, Debtor or the Agent may release any of the Collateral with the prior written consent of the LendersSecured Parties. Upon any such termination of the Security Interests or release of any Collateral, the Agent Secured Parties will, at the expense of GuarantorDebtor, execute and deliver to Guarantor Debtor such documents as Guarantor Debtor shall reasonably request to evidence the termination of the Security Interests or the release of such Collateral, as the case may be; provided that, any such documents may be executed and delivered by the Collateral Agent on behalf of all the Secured Parties.
Appears in 1 contract
Termination of Security Interests; Release of Collateral. Upon the repayment payment in full of all Secured Obligations (other than contingent indemnification obligations to the extent no unsatisfied claim giving rise thereto has been asserted) and the termination of the Commitments under the Loan Agreementall commitments, the Security Interests shall automatically terminate and all rights to the Collateral shall automatically revert and be reassigned to Guarantor. At any time and from time to time prior to such termination of the Security Interests, the Agent may release any of the Collateral with the prior written consent of the LendersBorrower. Upon any such termination of the Security Interests or release of any Collateral, the Agent will, at the expense of GuarantorBorrower, execute and deliver to Guarantor Borrower such documents as Guarantor Borrower shall reasonably request to evidence the termination of the Security Interests or the release of such Collateral, as the case may be.
Appears in 1 contract