Filing of Termination Statements Clause Samples

The "Filing of Termination Statements" clause establishes the obligation and procedure for formally ending a security interest or lien by filing a termination statement with the appropriate governmental authority, such as a state’s Secretary of State office. In practice, this clause typically requires the secured party to file the necessary documentation once the underlying obligation has been satisfied, thereby releasing the collateral from the security interest. Its core function is to ensure that public records accurately reflect the release of claims on assets, preventing future disputes or encumbrances on the property.
Filing of Termination Statements. Upon the payment in full of all of the Obligations and if there is no commitment by any Lender to make further advances, incur obligations or otherwise give value, the Agent will (as soon as reasonably practicable after receipt of notice from the Debtor requesting the same but at the expense of the Debtor) deliver to the Debtor (i) for each jurisdiction in which a UCC financing statement is on file to perfect the security interests granted to the Agent hereunder, a termination statement (appropriately completed) to the effect that the Agent no longer claims a security interest under such financing statement, and (ii) such other documents as the Debtor shall reasonably request evidencing satisfaction of the Obligations and the release of the security interests granted to the Agent hereunder.
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Filing of Termination Statements. HSC covenants and agrees that, upon Partnership's request, it will prepare, within 24 hours of such request, according to Partnership's instructions, all UCC-3 termination statements or other instruments of release necessary to reflect the release from the Mortgage of any collateral covered by the Mortgage that is sold or to be sold by Partnership in accordance with the terms of the Mortgage. It agrees to execute and file such termination statements or releases with the appropriate authority or authorities immediately upon receipt of confirmation from Sumitomo that the sales proceeds have been deposited into escrow. It further agrees to insure that appropriate officials will be available at Partnership's reasonable request to perform its obligations under this Section 6.06.
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Related to Filing of Termination Statements

  • Termination Statements Attached hereto as Schedule 8(a) are the duly authorized termination statements in the appropriate form for filing in each applicable jurisdiction identified in Schedule 8(b) hereto with respect to each Lien described therein.

  • FILING OF CURRENT REPORT AND REGISTRATION STATEMENT The Company agrees that it shall, within the time required under the Exchange Act, file with the SEC a report on Form 8-K relating to the transactions contemplated by, and describing the material terms and conditions of, the Transaction Documents (the “Current Report”). The Company shall also file with the SEC, within twenty (20) Business Days from the date hereof, a new registration statement (the “Registration Statement”) covering only the resale of the Purchase Shares and all of the Commitment Shares, in accordance with the terms of the Registration Rights Agreement between the Company and the Investor, dated as of the date hereof (the “Registration Rights Agreement”). The Company shall permit the Investor to review and comment upon the final pre-filing draft version of the Current Report at least two (2) Business Days prior to its filing with the SEC, and the Company shall give due consideration to all such comments. The Investor shall use its reasonable best efforts to comment upon the final pre-filing draft version of the Current Report within one (1) Business Day from the date the Investor receives it from the Company.

  • Effectiveness of Termination Any termination of this Agreement shall be effective on the date specified in such notice of termination; provided, however, that such termination shall not be effective until the close of business on the date of receipt of such notice by the Sales Agent or the Company, as the case may be. If such termination shall occur prior to the Settlement Date for any sale of Placement Securities, such Placement Securities shall settle in accordance with the provisions of this Agreement.

  • Certificate of Termination On completion of the distribution of Company assets as provided herein, the Company is terminated, and the Sole Member (or such other person as the law may require or permit) shall execute, acknowledge, and cause to be filed a Certificate of Termination, at which time the Company shall cease to exist as a limited liability company.

  • Effectiveness, Continuation, Termination and Amendment This Amended ------------------------------------------------------ and Restated Plan has been approved by a vote of the Board and its Independent Trustees and replaces the Fund's prior Distribution and Service Plan and Agreement for Class C shares. Unless terminated as hereinafter provided, it shall continue in effect until renewed by the Board in accordance with the Rule and thereafter from year to year or as the Board may otherwise determine but only so long as such continuance is specifically approved at least annually by a vote of the Board and its Independent Trustees cast in person at a meeting called for the purpose of voting on such continuance. This Plan may not be amended to increase materially the amount of payments to be made under this Plan, without approval of the Class C Shareholders at a meeting called for that purpose and all material amendments must be approved by a vote of the Board and of the Independent Trustees. This Plan may be terminated at any time by a vote of a majority of the Independent Trustees or by the vote of the holders of a "majority" (as defined in the 1940 Act) of the Fund's outst▇▇▇▇▇▇ ▇lass C voting shares. In the event of such termination, the Board and its Independent Trustees shall determine whether the Distributor shall be entitled to payment from the Fund of all or a portion of the Service Fee and/or the Asset-Based Sales Charge in respect of Shares sold prior to the effective date of such termination.