Lien Release Letter definition

Lien Release Letter means the letter to be delivered by the Buyer Parties to Seller at the Closing in the form attached as Exhibit I confirming the release of the Liens on any of the Assets, the Shares or the Tergas Option as security for the repayment of the Pre-Existing Loan, the Deposit and the Additional Deposit effective upon the Closing.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Lien Release Letter means a lien release letter in customary form in respect of any Liens on the Target Shares or assets of the Acquired Companies and any guarantee obligations of any Acquired Companies pursuant to the First Lien Facilities Agreement.

Lien Release Letter has the meaning set forth in Section 2.2(b)(vi).

Examples of Lien Release Letter in a sentence

Parent shall receive the Promissory Note Payoff and Lien Release Letter in form reasonably satisfactory to Parent.
Seller shall apply, and ▇▇▇▇▇*s shall cause Seller to apply, the Purchase Price (less certain transaction costs and expenses of Seller and ▇▇▇▇▇*s not to exceed Four Hundred Fifty Thousand Dollars ($450,000)) to repay outstanding Revolving Loans (as defined in the Credit Agreement, which term is defined in the GE Consent and Lien Release Letter) in such amount.
On or before the Sale Date, the Seller shall have executed and delivered to the Purchaser this Agreement and fully-executed copy of each Lien Release Letter and the executed Powers of Attorney.
Company shall have delivered to Buyer the Lien Release Letters, and such Lien Release Letters shall be reasonably satisfactory in form and substance to Buyer and shall be in full force and effect on the Closing Date, including without limitation, a Lien Release Letter from Cool ▇▇▇▇.

More Definitions of Lien Release Letter

Lien Release Letter means a letter agreement entered into by the Company, on one hand, and a holder of Closing Company Indebtedness, on the other hand, in form and substance reasonably satisfactory to Buyer, authorizing Buyer and any of the Lenders to release all Liens held by such holder of Closing Company Indebtedness upon the payment to such holder of Closing Company Indebtedness of the amounts set forth therein and mortgage releases in recordable form with respect to the Owned Real Property and Leased Real Property, if any, executed by the holder of the Closing Company Indebtedness which are reasonably acceptable to the Title Company.

Lien Release Letter means the duly executed letters or other instruments from the administrative agent, collateral agent, collateral trustee and/or trustee, as applicable, releasing all Liens on the Acquired Interests and Non-Op Interests filed in connection with any indebtedness of the Seller involving the Acquired Interests and Non-Op Interests, and authorizing the filing of UCC-3 amendments reflecting such release, in each case at the Closing to be held in trust by Locke Lord LLP then released after the Seller’s receipt of the Purchase Price. “Loss” means any and all Liabilities, amounts paid in settlement, costs or expenses (including reasonable attorneys’, consultants’ fees and court costs). For the avoidance of doubt,