Common use of Terminations by Existing Lender Clause in Contracts

Terminations by Existing Lender. Borrower's existing lender(s) shall have executed and delivered UCC termination statements and other documentation evidencing the termination of its liens and security interests in the assets of Borrower or a subordination agreement in form and substance satisfactory to FINOVA in its sole discretion;

Appears in 8 contracts

Samples: Loan and Security Agreement (Javelin Systems Inc), Loan and Security Agreement (Automotive One Parts Stores Inc), Loan and Security Agreement (Community Medical Transport Inc)

AutoNDA by SimpleDocs

Terminations by Existing Lender. Borrower's existing lender(s) shall have executed and delivered UCC termination statements and other documentation evidencing the termination of its liens and security interests in the assets of Borrower or a subordination agreement Collateral in form and substance satisfactory to FINOVA Lender in its sole discretion;

Appears in 7 contracts

Samples: Loan and Security Agreement (Thaxton Group Inc), Loan and Security Agreement (Thaxton Group Inc), Loan and Security Agreement (Crown Group Inc /Tx/)

Terminations by Existing Lender. Borrower's existing lender(s) shall have executed and delivered UCC termination statements and other documentation evidencing the termination of its liens and security interests in the assets of Borrower or a subordination agreement in form and substance satisfactory to FINOVA in its sole discretionFINOVA;

Appears in 2 contracts

Samples: Loan and Security Agreement (Nstor Technologies Inc), Loan and Security Agreement (Revenge Marine Inc)

Terminations by Existing Lender. Borrower's Borrowers' existing lender(s) lender shall have executed and delivered UCC termination statements and other documentation evidencing the termination of its liens and security interests in the assets of Borrower or a subordination agreement in form and substance satisfactory to FINOVA in its sole discretionBorrowers;

Appears in 2 contracts

Samples: Loan and Security Agreement (Digital Solutions Inc), Loan and Security Agreement (Digital Solutions Inc)

Terminations by Existing Lender. Borrower's existing lender(s) (including, without limitation, the lender(s) to Borrower's Trend Circuits division) shall have executed and delivered UCC termination statements and other documentation evidencing the termination of its liens and security interests in the assets of Borrower Collateral or a subordination agreement in form and substance satisfactory to FINOVA in its sole discretionFINOVA;

Appears in 1 contract

Samples: Loan and Security Agreement (Praegitzer Industries Inc)

Terminations by Existing Lender. Borrower's existing lender(s) shall have executed and delivered UCC termination statements and other documentation evidencing the termination of its liens and security interests in the assets of Borrower or a subordination agreement in form and substance satisfactory to FINOVA in its sole discretion;execution and

Appears in 1 contract

Samples: Loan and Security Agreement (Crown Group Inc /Tx/)

Terminations by Existing Lender. Borrower's existing lender(s) shall have executed and delivered UCC termination statements and other documentation evidencing the termination of its liens and security interests in the assets of Borrower or a subordination agreement in form and substance satisfactory to FINOVA TEXTRON in its sole discretionPermitted Discretion; and TEXTRONshall have approved in its Permitted Discretion any outstanding payoff arrangements with the foregoing creditors;

Appears in 1 contract

Samples: Loan and Security Agreement (I Sector Corp)

Terminations by Existing Lender. Borrower's existing lender(s) shall have executed and delivered UCC termination statements and other documentation evidencing the termination of its liens and security interests in the assets of Borrower or a subordination agreement in form and substance satisfactory to FINOVA TEXTRON in its sole discretionPermitted Discretion; and TEXTRON shall have approved in its Permitted Discretion any outstanding payoff arrangements with the foregoing creditors;

Appears in 1 contract

Samples: Loan and Security Agreement (Micros to Mainframes Inc)

Terminations by Existing Lender. Borrower's existing lender(s) shall have ------------------------------- executed and delivered UCC termination statements and other documentation evidencing the termination of its liens and security interests interest in the assets of Borrower or a subordination agreement in form and substance satisfactory to FINOVA in its sole discretion; and FINOVA shall have approved in its sole discretion; and FINOVA shall have approved in its sole discretion any outstanding payoff arrangements with the foregoing creditors;

Appears in 1 contract

Samples: Loan and Security Agreement (Cumetrix Data Systems Corp)

Terminations by Existing Lender. Borrower's existing lender(s) shall have executed and delivered UCC termination statements and other documentation evidencing the termination of its liens and security interests in the assets of Borrower or a subordination agreement in form and substance satisfactory to FINOVA in its sole discretion;; (c)

Appears in 1 contract

Samples: Secured Revolving Credit Note (Diamond Multimedia Systems Inc)

Terminations by Existing Lender. Borrower's existing lender(s) lender shall have executed and delivered UCC termination statements and other documentation evidencing the termination of its liens and security interests in the assets of Borrower or a subordination agreement in form and substance satisfactory to FINOVA in its sole discretionBorrower;

Appears in 1 contract

Samples: Loan and Security Agreement (Organic Food Products Inc)

AutoNDA by SimpleDocs

Terminations by Existing Lender. Borrower's existing lender(s) lender shall have executed and delivered UCC termination statements and other documentation evidencing the termination of its liens and security interests in the assets of Borrower or a subordination agreement in form and substance satisfactory to FINOVA Lender in its sole discretion;; (c)

Appears in 1 contract

Samples: Loan and Security Agreement (Rockford Corp)

Terminations by Existing Lender. Borrower's existing lender(s) shall have executed and delivered UCC termination statements and other documentation evidencing the termination of its liens and security interests in the assets of Borrower or a subordination agreement in form and substance satisfactory to FINOVA in its sole discretion;; -------------------------------

Appears in 1 contract

Samples: Loan and Security Agreement (Play Co Toys & Entertainment Corp)

Terminations by Existing Lender. Borrower's existing lender(s) shall ------------------------------- have executed and delivered UCC termination statements and other documentation evidencing the termination of its liens and security interests in the assets of Borrower or a subordination agreement in form and substance satisfactory to FINOVA in its sole discretion;

Appears in 1 contract

Samples: Loan and Security Agreement (Utilx Corp)

Terminations by Existing Lender. Borrower's Borrowers' existing lender(s) lender shall have executed and delivered UCC termination statements and other documentation evidencing the termination of its liens and security interests in the assets of Borrower or a subordination agreement in form and substance satisfactory to FINOVA in its sole discretioneach Loan Party;

Appears in 1 contract

Samples: Loan and Security Agreement (Core Technologies Pennsylvania Inc)

Terminations by Existing Lender. Borrower's and Seller's existing lender(s) shall have executed and delivered UCC termination statements and other documentation evidencing the termination of its liens and security interests in the assets of Borrower (including, without limitation, all of those assets being acquired pursuant to the Acquisition) or a subordination agreement in form and substance satisfactory to FINOVA in its sole discretion;

Appears in 1 contract

Samples: Loan and Security Agreement (1 800 Autotow Inc)

Terminations by Existing Lender. Borrower's existing lender(s) shall have executed and delivered UCC termination statements and other documentation evidencing the termination of its liens and security interests in the assets of Borrower or a subordination agreement in form and substance satisfactory to FINOVA GFC in its sole discretion;

Appears in 1 contract

Samples: Loan and Security Agreement (Procom Technology Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!