Common use of UCC Termination Statements Clause in Contracts

UCC Termination Statements. Upon satisfaction of the obligations set forth in Section 7.16, the Company will provide Parent with duly executed UCC-3 termination statements in form and content satisfactory to extinguish all security interests and/or liens created by Directors' Loans against any and all assets of the Company.

UCC Termination Statements. Upon satisfaction of the obligations set forth in Section 7.16, (i) the Company will provide Parent with duly executed UCC-3 termination statements in form and content satisfactory to extinguish all security interests and/or liens created by Directors' Loans against any and all assets of the Company and (ii) each of the applicable members of the Company's board of directors shall execute a termination and satisfaction notice with respect to the Director Liabilities set forth opposite each of their names on Schedule 4.40.