Termination; Release of Collateral. Notwithstanding anything in this Agreement to the contrary, the Pledgor may, to the extent permitted by SECTION 9.02 of the Credit Agreement, sell, assign, transfer or otherwise dispose of any Pledged Collateral. In addition, the Pledged Collateral shall be subject to release in accordance with SECTION 12.09(C) of the Credit Agreement (such Pledged Collateral and the Pledged Collateral referred to in the immediately preceding sentence being the "Released Collateral"). The Liens under this Agreement shall terminate with respect to the Released Collateral upon such sale, transfer, assignment, disposition or release and upon the request of the Pledgor, the Administrative Agent shall execute and deliver such instrument or document as may be necessary to release the Liens granted hereunder; PROVIDED, HOWEVER, that (i) the Administrative Agent shall not be required to execute any such documents on terms which, in the Administrative Agent's opinion, would expose the Administrative Agent to liability or create any obligation or entail any consequence other than the release of such Liens without recourse or warranty, and (ii) such release shall not in any manner discharge, affect or impair the Liabilities or any Liens on (or obligations of the Pledgor in respect of) all interests retained by the Pledgor, including without limitation, the proceeds of any sale, all of which shall continue to constitute part of the Pledged Collateral.
Appears in 3 contracts
Samples: Pledge Agreement (Barneys New York Inc), Pledge Agreement (Barneys New York Inc), Pledge Agreement (Barneys New York Inc)
Termination; Release of Collateral. Notwithstanding anything in this Agreement to the contrary, each of the Pledgor Pledgors may, to the extent permitted by SECTION 9.02 Section 4.10 of the Credit AgreementIndenture, sell, assign, transfer or otherwise dispose of any Pledged Collateral. In addition, the Pledged Collateral shall be subject to release in accordance with SECTION 12.09(C) Section 13.04 of the Credit Agreement Indenture (such Pledged Collateral and the Pledged Collateral referred to in the immediately preceding sentence being the "Released Collateral"). The Liens under this Agreement shall terminate with respect to the Released Collateral upon such sale, transfer, assignment, disposition or release and upon the request of the applicable Pledgor, the Administrative Collateral Agent shall execute and deliver such instrument or document as may be necessary to release the Liens granted hereunder; PROVIDEDprovided, HOWEVERhowever, that (i) the Administrative Collateral Agent shall not be required to execute any such documents on terms which, in the Administrative Collateral Agent's opinion, would expose the Administrative Collateral Agent or any Holder to liability or create any obligation or entail any consequence other than the release of such Liens without recourse or warranty, and (ii) such release shall not in any manner discharge, affect or impair the Liabilities or any Liens on (or obligations of the Pledgor Pledgors in respect of) all interests retained by the any Pledgor, including without limitation, the proceeds of any sale, all of which shall continue to constitute part of the Pledged Collateral.
Appears in 1 contract
Termination; Release of Collateral. Notwithstanding anything in this Agreement to the contrary, each of the Pledgor Pledgors may, to the extent permitted by SECTION Section 9.02 of the Credit Agreement, sell, assign, transfer or otherwise dispose of any Pledged Collateral. In addition, the Pledged Collateral shall be subject to release in accordance with SECTION 12.09(CSection 12.09(c) of the Credit Agreement (such Pledged Collateral and the Pledged Collateral referred to in the immediately preceding sentence being the "Released Collateral"). The Liens under this Agreement shall terminate with respect to the Released Collateral upon such sale, transfer, assignment, disposition or release and upon the request of the applicable Pledgor, the Administrative Agent shall execute and deliver such instrument or document as may be necessary to release the Liens granted hereunder; PROVIDEDprovided, HOWEVERhowever, that (i) the Administrative Agent shall not be required to execute any such documents on terms which, in the Administrative Agent's opinion, would expose the Administrative Agent to liability or create any obligation or entail any consequence other than the release of such Liens without recourse or warranty, and (ii) such release shall not in any manner discharge, affect or impair the Liabilities or any Liens on (or obligations of the Pledgor Pledgors in respect of) all interests retained by the any Pledgor, including without limitation, the proceeds of any sale, all of which shall continue to constitute part of the Pledged Collateral.
Appears in 1 contract
Termination; Release of Collateral. Notwithstanding anything in this Agreement to the contrary, the Pledgor may, to the extent permitted by SECTION Section 9.02 of the Credit Agreement, sell, assign, transfer or otherwise dispose of any Pledged Collateral. In addition, the Pledged Collateral shall be subject to release in accordance with SECTION 12.09(CSection 12.09(c) of the Credit Agreement (such Pledged Collateral and the Pledged Collateral referred to in the immediately preceding sentence being the "Released Collateral"). The Liens under this Agreement shall terminate with respect to the Released Collateral upon such sale, transfer, assignment, disposition or release and upon the request of the Pledgor, the Administrative Agent shall execute and deliver such instrument or document as may be necessary to release the Liens granted hereunder; PROVIDEDprovided, HOWEVERhowever, that (i) the Administrative Agent shall not be required to execute any such documents on terms which, in the Administrative Agent's opinion, would expose the Administrative Agent to liability or create any obligation or entail any consequence other than the release of such Liens without recourse or warranty, and (ii) such release shall not in any manner discharge, affect or impair the Liabilities or any Liens on (or obligations of the Pledgor in respect of) all interests retained by the Pledgor, including without limitation, the proceeds of any sale, all of which shall continue to constitute part of the Pledged Collateral.
Appears in 1 contract
Termination; Release of Collateral. Notwithstanding anything in this Agreement to the contrary, the Pledgor may, to the extent permitted by SECTION 9.02 of the Credit Agreement, sell, assign, transfer or otherwise dispose of any Pledged Collateral. In addition, the Pledged Collateral shall be subject to release in accordance with SECTION 12.09(C) of the Credit Agreement (such Pledged Collateral and the Pledged Collateral referred to in the immediately preceding sentence being the "Released Collateral"). The Liens under this Agreement shall terminate with respect to the Released Collateral upon such sale, transfer, assignment, disposition or release and upon the request of the Pledgor, the Administrative Agent shall execute and deliver such instrument or document as may be necessary to release the Liens granted hereunder; PROVIDED, HOWEVER, that (i) the Administrative Agent shall not be required to execute any such documents on terms which, in the Administrative Agent's opinion, would expose the Administrative Agent to liability or create any obligation or entail any consequence other than the release of such Liens without recourse or warranty, and (ii) such release shall not in any manner discharge, affect or impair the Liabilities or any Liens on (or obligations of the Pledgor in respect of) all interests retained by the Pledgor, including without limitation, the proceeds of any sale, all of which shall continue to constitute part of the Pledged Collateral.
Appears in 1 contract
Samples: Cash Collateral Pledge and Assignment Agreement (Barneys New York Inc)
Termination; Release of Collateral. Notwithstanding anything in this Agreement to the contrary, the Pledgor Grantors may, to the extent permitted by SECTION 9.02 of the Credit Agreement, sell, assign, transfer or otherwise dispose of any Pledged Collateral. In addition, the Pledged Collateral shall be subject to release in accordance with SECTION 12.09(C) of the Credit Agreement (such Pledged Collateral and the Pledged Collateral referred to in the immediately preceding sentence being the "Released Collateral"). The Liens under this Agreement shall terminate with respect to the Released Collateral upon such sale, transfer, assignment, disposition or release and upon the request of the PledgorGrantors, the Administrative Agent shall execute and deliver such instrument or document as may be necessary to release the Liens granted hereunder; PROVIDED, HOWEVER, that (i) the Administrative Agent shall not be required to execute any such documents on terms which, in the Administrative Agent's opinion, would expose the Administrative Agent to liability or create any obligation or entail any consequence other than the release of such Liens without recourse or warranty, and (ii) such release shall not in any manner discharge, affect or impair the Liabilities or any Liens on (or obligations of the Pledgor any Grantor in respect of) all interests retained by the Pledgorany Grantor, including without limitation, the proceeds of any sale, all of which shall continue to constitute part of the Pledged Collateral.
Appears in 1 contract
Samples: Trademark Security Agreement (Barneys New York Inc)
Termination; Release of Collateral. Notwithstanding anything in this Agreement to the contrary, the Pledgor may, to the extent permitted by SECTION 9.02 Section 4.12 of the Credit AgreementIndenture, sell, assign, transfer or otherwise dispose of any Pledged Collateral. In addition, the Pledged Collateral shall be subject to release in accordance with SECTION 12.09(C) Section 10.04 of the Credit Agreement Indenture (such Pledged Collateral and the Pledged Collateral referred to in the immediately preceding sentence being the "Released Collateral"). The Liens under this Agreement shall terminate with respect to the Released Collateral upon such sale, transfer, assignment, disposition or release and upon the written request of the Pledgor, the Administrative Collateral Agent shall execute and deliver deliver, at the cost of the Pledgor, such instrument or document as may be necessary to release the Liens granted hereunder; PROVIDEDprovided, HOWEVERhowever, that (i) the Administrative Collateral Agent shall not be required to execute any such documents on terms which, in the Administrative Agentany Secured Party's opinion, would expose the Administrative Collateral Agent or any Holder to liability or create any obligation or entail any consequence other than the release of such Liens without recourse or warranty, and (ii) such release shall not in any manner discharge, affect or impair the Liabilities or any Liens on (or obligations of the Pledgor in respect of) all interests retained by the Pledgor, including without limitation, the proceeds of any sale, all of which shall continue to constitute part of the Pledged Collateral.
Appears in 1 contract
Termination; Release of Collateral. Notwithstanding anything in this Agreement to the contrary, the Pledgor may, to the extent permitted by SECTION 9.02 Section 4.10 of the Credit AgreementIndenture, sell, assign, transfer or otherwise dispose of any Pledged Collateral. In addition, the Pledged Collateral shall be subject to release in accordance with SECTION 12.09(C) Section 13.04 of the Credit Agreement Indenture (such Pledged Collateral and the Pledged Collateral referred to in the immediately preceding sentence being the "Released Collateral"). The Liens under this Agreement shall terminate with respect to the Released Collateral upon such sale, transfer, assignment, disposition or release and upon the request of the Pledgor, the Administrative Collateral Agent shall execute and deliver such instrument or document as may be necessary to release the Liens granted hereunder; PROVIDEDprovided, HOWEVERhowever, that (i) the Administrative Collateral Agent shall not be required to execute any such documents on terms which, in the Administrative Collateral Agent's opinion, would expose the Administrative Collateral Agent or any Holder to liability or create any obligation or entail any consequence other than the release of such Liens without recourse or warranty, and (ii) such release shall not in any manner discharge, affect or impair the Liabilities or any Liens on (or obligations of the Pledgor in respect of) all interests retained by the Pledgor, including without limitation, the proceeds of any sale, all of which shall continue to constitute part of the Pledged Collateral.
Appears in 1 contract
Termination; Release of Collateral. Notwithstanding anything in this Agreement to the contrary, the Pledgor Company may, to the extent permitted by SECTION 9.02 of Section 4.12 in the Credit AgreementIndenture, sell, assign, transfer or otherwise dispose of any Pledged CollateralCollateral pledged by the Company. In addition, the Pledged Collateral pledged by the Company shall be subject to release in accordance with SECTION 12.09(C) of Section 10.04 in the Credit Agreement Indenture (such Pledged Collateral and the Pledged Collateral referred to in the immediately preceding sentence being the "“Released Collateral"”). The Liens under this Agreement shall terminate with respect to the Released Collateral upon such sale, transfer, assignment, disposition or release and upon the written request of the PledgorCompany, the Administrative Collateral Agent shall execute and deliver deliver, at the cost of the Company, such instrument or document as may be necessary to release the Liens granted hereunder; PROVIDEDprovided, HOWEVERhowever, that (i) the Administrative Collateral Agent shall not be required to execute any such documents on terms which, in the Administrative Agent's opinion, which would expose the Administrative Collateral Agent or any holder of the Notes to liability or create any obligation or entail any consequence other than the release of such Liens without recourse or warranty, and (ii) such release shall not in any manner discharge, affect or impair the Liabilities Secured Obligations or any Liens on (or obligations of the Pledgor Company in respect of) all interests retained by the PledgorCompany, including without limitation, the proceeds of any sale, all of which shall continue to constitute part of the Pledged CollateralCollateral pledged by the Company.
Appears in 1 contract