Release of Collateral definition

Release of Collateral. The lien of the Second Priority Senior Secured Notes will be automatically released upon the foreclosure or sale of any Shared Collateral by the holders of the First Priority Senior Secured Notes in accordance with the First Priority Senior Secured Notes Indenture, provided that proceeds from such sale shall be applied in accordance with the Intercreditor Agreement and the respective Indentures. Notwithstanding the foregoing, the holders of the Second Priority Senior Secured Notes will not be permitted to object to any bankruptcy court or concurso mercantil ordered sale of the Shared Collateral that has been approved by the holders of the First Priority Senior Secured Notes provided that the lien of the Second Priority Senior Secured Notes attaches to the proceeds of any such sale in accordance with the priorities set forth in the Intercreditor Agreement. In the event that any concurso mercantil proceeding is filed in Mexico, the liens in favor of the Second Priority Senior Secured Notes may be released by the Common Representative (as defined below) with the approval of the holders of more than 50% in principal amount of the outstanding Second Priority Senior Secured Notes, with such release to be effective as of immediately prior to the commencement of the concurso mercantil.
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Release of Collateral. In the event the Net Proceeds from the sale or assignment of the Union Square Lease exceed $15,000,000, the Additional Collateral shall no longer secure the Borrower's obligations under the New Notes and the lien thereon shall be promptly released by the holder thereof .
Sample 1
Release of Collateral. In the event the Net Proceeds from the sale or assignment of the Union Square Lease exceed $15,000,000, the Additional Collateral shall no longer secure the Borrower's obligations under the New Notes and the lien thereon shall be promptly released by the holder thereof. Conversion: New Notes convertible into common stock of BI on terms reasonably acceptable to the Administrative Agent. Registration Rights: As described in the Confirmed Plan. Default and Acceleration: No cross-default or cross-acceleration rights to the Agreement. 123 Attachment IV to Credit Agreement ---------------- Terms of Trade Lien ------------------- Capitalized terms used herein without definition shall have the meanings given to such terms in the Credit Agreement to which this Attachment IV is attached (the "Agreement"). ---------
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Examples of Release of Collateral in a sentence

  • The Collateral Agent shall be authorized to release the Collateral described in the Request for Release of Collateral upon receipt of evidence of arrangement for payment of funds to the Collateral Agent, for the account of the Lender, in the amount of the Required Release Price specified in the Request for Release of Collateral.

  • The Required Release Price shall be calculated by the Borrower, in accordance with the applicable provisions of this Agreement, at the time the Borrower submits a Request for Release of Collateral to the Collateral Agent.

  • The Lender shall be obligated to release and discharge its security interest in any Collateral of the type described in this Section 5.4 on the fifth (5th) Business Day after its receipt of the Request for Release of Collateral (provided the Lender has then received the Required Release Price and the Lender has not then declared, by written notice to the Borrower, the existence of an Event of Default).

  • Upon receipt by the Collateral Agent of a Request for Release of Collateral, the Collateral Agent shall forward a copy thereof, by facsimile and U.

  • Prior to the release of any property or securities subject to the lien of the Current Issuer Deed of Charge, the Current Issuer shall, in addition to any obligation imposed in this Clause 17 (Release of Collateral) or elsewhere in these presents, furnish to the Note Trustee an Officers' Certificate certifying or stating the opinion of each person signing such certificate as to the fair value to the Current Issuer of the property or securities to be so released.

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  • This Rule 8.10 shall apply to US Taxpayers to the extent necessary to avoid taxation under Section 409A of the US Internal Revenue Code of 1986, as amended, including any applicable regulations and guidance thereunder.


More Definitions of Release of Collateral

Release of Collateral has the meaning specified in Section 10.5(c).
Sample 1
Release of Collateral means that the securities placed in the “pledged” section of a participant’s account are unblocked and released to the available section of the participant’s account, therefore being available for any kind of trading operation .
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Release of Collateral. The secured party of record releases the collateral described below.
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Release of Collateral. The collateral securing the Second Lien Obligations shall be released automatically (a) upon any sale of Term Priority Collateral in which the liens securing the First Lien Obligations are released, in the event such sale is effected as a result of (i) the exercise of rights and remedies by the First Lien Collateral Agent or (ii) pursuant to section 363 of the Bankruptcy Code and (b) prior to any Waterfall Trigger Event and/or any exercise of remedies, upon any release, sale or disposition of such collateral permitted pursuant to the terms of the First Lien Credit Facility and the Note Purchase Agreement that results in the release of the liens on such collateral securing the First Lien Obligations. In addition, in the event the First Lien Claimholders release any Guarantor from its obligations under its guarantee of the First Lien Obligations in connection with any release of Term Priority Collateral described in the paragraph above, the comparable guaranty, if any, in respect of the Second Lien Obligations shall be automatically released. Buy-Out Right: Subject to certain terms and conditions, Second Lien Claimholders shall have an option, exercisable if (i) a Waterfall Trigger Event occurs or (ii) the aggregate amount of protective advances made by or on behalf of the First Lien Claimholders exceeds $5 0 million, to purchase for cash on an “as-is”/where is basis, 100% (but not less than 100%) of the First Lien Obligations at par (for the avoidance of doubt, excluding the Exit Fee or any other make-whole amount) and accrued but unpaid interest (including default interest) and fees and other unpaid amounts (including all costs and expenses incurred by the First Lien Claimholders).
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Release of Collateral means a Release of Collateral substantially in the form of Exhibit A to the Security Agreement.
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Release of Collateral. The liens, security interests, mortgages and the like on collateral currently securing the Original Facility will be released on the Closing Date.
Sample 1

Related to Release of Collateral

  • Additional Collateral Any of the following held, in addition to the related Mortgaged Property, as security for a Mortgage Loan: (i) all money, securities, security entitlements, accounts, general intangibles, payment rights, instruments, documents, deposit accounts, certificates of deposit, commodities contracts and other investment property and other property of whatever kind or description now existing or hereafter acquired which is pledged as security for the repayment of such Mortgage Loan, (ii) third-party guarantees, and (A) all money, securities, security entitlements, accounts, general intangibles, payment rights, instruments, documents, deposit accounts, certificates of deposit, commodities contracts and other investment property and other property of whatever kind or description now existing or hereafter acquired which is pledged as collateral for such guarantee or (B) any mortgaged property securing the performance of such guarantee, or (iii) such other collateral as may be set forth in the Series Supplement.

  • Schedule of Collateral Obligations means the list or lists of Collateral Obligations attached to each Asset Approval Request and each Reinvestment Request. Each such schedule shall identify the assets that will become Collateral Obligations, shall set forth such information with respect to each such Collateral Obligation as the Borrower or the Facility Agent may reasonably require and shall supplement any such schedules attached to previously-delivered Asset Approval Requests and Reinvestment Requests.

  • U.S. Collateral Agreement means the U.S. Guarantee and Collateral Agreement, as amended, supplemented or otherwise modified from time to time, in the form of Exhibit E, among Holdings, Intermediate Holdings, the U.S. Borrower, each Domestic Subsidiary Loan Party and the Collateral Agent.

  • Guaranty and Collateral Agreement means the Guaranty and Collateral Agreement dated as of the date hereof executed and delivered by the Loan Parties, together with any joinders thereto and any other guaranty and collateral agreement executed by a Loan Party, in each case in form and substance satisfactory to the Administrative Agent.

  • Security Agreement Collateral means all "Collateral" as defined in the Security Agreement.

  • Credit Agreement Collateral Agent has the meaning assigned to such term in the introductory paragraph of this Agreement.

  • Term Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Additional Collateral Documents as defined in the Base Intercreditor Agreement.

  • Request regarding a list of collateral means a record authenticated by a debtor requesting that the recipient approve or correct a list of what the debtor believes to be the collateral securing an obligation and reasonably identifying the transaction or relationship that is the subject of the request.

  • Collateral Release Date has the meaning given that term in Section 8.10.(b).

  • Supplemental Collateral Agent has the meaning assigned to that term in subsection 9.1B.

  • Notes Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Term Loan Priority Collateral as defined in the Intercreditor Agreement.

  • Collateral Proceeds Account a non-interest bearing cash collateral account established and maintained by the relevant Grantor at an office of the Collateral Account Bank in the name, and in the sole dominion and control of, the Collateral Agent for the benefit of the Secured Parties.

  • Landlord Personal Property Collateral Access Agreement means a Landlord Waiver and Consent Agreement substantially in the form of Exhibit S, with such amendments, modifications or supplements as may be approved by Collateral Agent.

  • Release Property has the meaning set forth in Section 2.5.

  • Pledge Agreement Collateral means all "Collateral" as defined in the Pledge Agreement.

  • Credit Agreement Collateral Documents means the Security Agreement, the other Collateral Documents (as defined in the Credit Agreement) and each other agreement entered into in favor of the Credit Agreement Collateral Agent for the purpose of securing any Credit Agreement Obligations.

  • Excluded Property shall have the meaning set forth in the Security Agreement.

  • Collateral has the meaning specified in the Granting Clause of this Indenture.

  • Additional Collateral Loan Each Mortgage Loan that is supported by Additional Collateral.

  • Collateral Release Period means, each period commencing with the occurrence of a Collateral Release Event and continuing until the occurrence of the next Collateral Reinstatement Event, if any, immediately following such Collateral Release Event.

  • Second Priority Collateral means any “Collateral” as defined in any Second Priority Debt Document or any other assets of the Borrower or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Second Priority Collateral Document as security for any Second Priority Debt Obligation.

  • ABL Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Priority Collateral means the ABL Priority Collateral or the Term Priority Collateral, as applicable.

  • UCC Filing Collateral means any Collateral, including Collateral constituting investment property, for which a security interest can be perfected by filing a UCC-1 financing statement.