Common use of Termination of Security Interests Clause in Contracts

Termination of Security Interests. Upon the payment in full of the Obligations (other than inchoate Indemnity obligations) and satisfaction of all Borrower’s obligations under this Agreement and the other Loan Documents (other than the Warrants and inchoate indemnity obligations), the security interest granted hereby shall terminate and all rights to the Collateral shall revert to Borrower. Upon any such termination, Lender shall, at Borrower’s expense, execute and deliver to Borrower such documents as Borrower shall reasonably request to evidence such termination. In connection therewith, Borrower agrees to provide Lender with information as to whether the securities issuable upon the exercise of any Warrant issued in connection with this Agreement constitute “qualified small business stock” for purposes of Section 1202(c) of the Internal Revenue Code and Section 18152.5 of the California Revenue and Taxation Code.

Termination of Security Interests. Upon the payment in full of the Obligations (other than inchoate Indemnity obligations) and satisfaction of all Borrower’s obligations under this Agreement and the other Loan Documents (other than the Warrants Warrant), and inchoate indemnity obligations)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, Lender shall, at Borrower’s expense, execute and deliver to Borrower such documents as Borrower shall reasonably request to evidence such termination. In connection therewith, Borrower Xxxxxxxx agrees to provide Lender with information as to whether the securities issuable upon the exercise of the Warrant and any Warrant other warrant instruments issued by Borrower in connection with this Agreement constitute “qualified small business stock” for purposes of Section 1202(c) of the Internal Revenue Code and Section 18152.5 of the California Revenue and Taxation Code.

Termination of Security Interests. Upon the payment in full of the Obligations (other than inchoate Indemnity obligations) and satisfaction of all Borrower’s obligations under this Agreement and the other Loan Documents (other than the Warrants Documents, and inchoate indemnity obligations)if Lender has no further obligations under its Commitment, the security interest granted hereby shall with commercially reasonable promptness terminate and all rights to the Collateral shall revert to Borrower. Upon any such termination, Lender shall, at Borrower’s expense, execute and deliver to Borrower such documents as Borrower shall reasonably request to evidence such termination. In connection therewith, Borrower agrees to provide Lender with information as to whether the securities issuable upon the exercise of the Warrant and any Warrant other warrant instruments issued by Borrower in connection with this Agreement constitute “qualified small business stock” for purposes of Section 1202(c) of the Internal Revenue Code and Section 18152.5 of the California Revenue and Taxation Code.

Termination of Security Interests. Upon the payment in full of the Obligations (other than inchoate Indemnity obligations) and satisfaction of all Borrower’s obligations under this Agreement and the other Loan Documents (other than the Warrants Warrants), and inchoate indemnity obligations)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, Lender shall, at Borrower’s expense, execute and deliver to Borrower such documents as Borrower shall reasonably request to evidence such termination. In connection therewith, Borrower Xxxxxxxx agrees to provide Lender with information as to whether the securities issuable upon the exercise of the Warrants and any Warrant other warrant instruments issued by Borrower in connection with this Agreement constitute “qualified small business stock” for purposes of Section 1202(c) of the Internal Revenue Code and Section 18152.5 of the California Revenue and Taxation Code.

Termination of Security Interests. Upon the payment in full of the Obligations (other than inchoate Indemnity obligations) and satisfaction of all Borrower’s Borrowers’ obligations under this Agreement and the other Loan Documents (other than the Warrants Documents, and inchoate indemnity obligations)if Lender has no further obligations under its Commitment, the security interest Liens granted hereby shall terminate and all rights to the Collateral shall revert to BorrowerBorrowers. Upon any such termination, Lender shall, with commercially reasonable promptness, at Borrower’s Borrowers’ expense, execute and deliver to Borrower Borrowers such documents as Borrower Borrowers shall reasonably request to evidence such termination. In connection therewith, Borrower Parent agrees to provide Lender with information as to whether the securities issuable upon the exercise of any Warrant issued in connection with this Agreement constitute “qualified small business stock” for purposes of Section 1202(c) of the Internal Revenue Code and Section 18152.5 of the California Revenue and Taxation Code.