Release Collateral Clause Samples

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Release Collateral. Other than in connection with a transaction permitted under the terms of the Agreement, release all or substantially all of the Collateral; or
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Release Collateral. Lenders irrevocably authorize Administrative Agent, at its option and in its discretion, to release any Lien or encumbrance on any property granted to or held by Administrative Agent under any Loan Document or Security Document (i) upon termination of the Maximum Commitment and payment in full of all Obligations (other than contingent indemnification obligations), (ii) that is sold or to be sold as part of or in connection with any sale permitted under the Agreement or under any other Loan Document, or (iii) if approved, authorized or ratified in writing by the Required Lenders.
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Release Collateral. (a) Notwithstanding anything to the contrary set forth in this Agreement or in any other Transaction Document, the Agent, and, if requested by the Debtor, each Secured Party shall release and terminate any and all liens and security interests that the Agent or any Secured Party has or may have in the Release Collateral within ten (10) days after Debtor’s written request for such release and termination in preparation for Debtor’s sale, license or other disposition of all or any portion of the Release Collateral to any Person from time to time, and in connection therewith, and within ten (10) days after Debtor’s written request for any such release and termination, the Agent, and if so requested by the Debtor, each Secured Party shall: (i) execute and deliver to Debtor a written instrument prepared by Debtor in form and substance satisfactory to Debtor to confirm that Secured Party’s liens and security interests in the Release Collateral will be fully released and terminated upon such disposition and that all of Agent’s and each Secured Party’s right, title and interest in such Release Collateral has been so assigned back to Debtor; (ii) execute such Uniform Commercial Code financing statement amendments prepared by Debtor as may be necessary in the appropriate public filing office(s) to release the Release Collateral from any filed financing statement on which Agent or any Secured Party is a secured party and which describes collateral that includes, or in Debtor’s judgment may include, the Release Collateral; and (iii) execute for filing with the United States Patent and Trademark Office such written instruments and documents prepared by Debtor as may be necessary or appropriate in Debtor’s judgment to fully release and terminate of record Agent’s or each Secured Party’s lien and security interest in the Release Collateral and to assign all of Agent’s or each Secured Party’s right, title and interest in such Release Collateral back to Debtor. (b) Debtor shall not be required to pay Agent or any Secured Party any fee or other amount for or in connection with any release or termination requested by Debtor under this Section 5 (or for performance of Agent’s or any Secured Party’s obligations under this Section 5) and Debtor shall not be required to make any payment or prepayment of any obligations (under the Notes or otherwise) upon, or with any Proceeds of, any sale, license or other disposition of any Release Collateral. (c) If the Agent or any Secured Par...
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Release Collateral. Release any collateral; or ------------------
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Release Collateral. Upon receiving an Instruction Notice from the Required Creditors the Collateral Agent shall, or in the absence of such Instruction Notice, the Collateral Agent may in its discretion (but shall not be obligated to) execute and file or cause to be executed and filed any instrument or document relating to any Collateral, or the security interest granted in the Security Agreements as may be necessary to protect and preserve the security interests created by or pursuant to the Security Agreements. An Instruction Notice and the actions taken in accordance therewith shall be binding upon all of the Creditors.
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Related to Release Collateral

  • Collateral Each of the Banks represents to the Agent and each of the other Banks that it in good faith is not relying upon any "margin stock" (as defined in Regulation U) as collateral in the extension or maintenance of the credit provided for in this Agreement.

  • Assemble Collateral Lender may require Grantor to deliver to Lender all or any portion of the Collateral and any and all certificates of title and other documents relating to the Collateral. Lender may require Grantor to assemble the Collateral and make it available to Lender at a place to be designated by Lender. Lender also shall have full power to enter upon the property of Grantor to take possession of and remove the Collateral. If the Collateral contains other goods not covered by this Agreement at the time of repossession, Grantor agrees Lender may take such other goods, provided that Lender makes reasonable efforts to return them to Grantor after repossession.

  • Release of Collateral Subject to Section 11.01 and the terms of the Basic Documents, the Indenture Trustee shall release property from the lien of this Indenture only upon receipt by it of an Issuer Request accompanied by an Officer’s Certificate, an Opinion of Counsel and Independent Certificates in accordance with TIA Sections 314(c) and 314(d)(1) or an Opinion of Counsel in lieu of such Independent Certificates to the effect that the TIA does not require any such Independent Certificates.

  • Real Estate Collateral With respect to any real property (individually and collectively, the “Premises”) (a) owned in fee simple by the Borrower or any of the Guarantors on the date hereof, (b) acquired in fee simple by the Borrower or any Guarantor after the date hereof with a purchase price of greater than $1,000,000 or (c) leased by the Borrower or any of the Guarantors, which leasehold estate becomes Additional Leasehold Collateral (each a “Material Real Property”), within 60 days after the date hereof in the case of clause (a), within 90 days of the acquisition thereof in the case of clause (b) and, subject to the proviso of the definition of “Additional Leasehold Collateral”, within 90 days after receipt of the Administrative Agent’s request (at the direction of the Lenders in accordance with the definition of “Additional Leasehold Collateral”) to include such leasehold as additional Collateral in the case of clause (c): (i) the Borrower shall deliver to the Administrative Agent, as mortgagee, fully executed counterparts of Mortgages, each dated not later than 60 days after the date hereof or 90 days after the date of acquisition of such Material Real Property, as the case may be, duly executed by the Borrower or the applicable Guarantor, together with evidence of the completion (or satisfactory arrangements for the completion), of all recordings and filings of such Mortgage as may be necessary to create a valid, perfected Lien, subject to Permitted Liens, against the properties purported to be covered thereby; (ii) the Borrower shall deliver to the Administrative Agent mortgagee’s title insurance policies (or marked up title insurance commitments having the effect of title insurance policies) in favor of the Administrative Agent, as mortgagee for the ratable benefit of the Secured Parties in an amount equal to 100% of the fair market value of the Premises purported to be covered by the related Mortgage, as estimated by the Borrower in good faith, insuring that title to such property is marketable and that the interests created by the Mortgage constitute valid Liens thereon free and clear of all Liens, defects and encumbrances other than Permitted Liens, and shall be accompanied by evidence of the payment in full of all premiums thereon; and (iii) the Borrower shall deliver to the Administrative Agent, with respect to each of the covered Premises, the most recent survey of such Premises, together with either (A) an updated survey certification in favor of the Administrative Agent from the applicable surveyor stating that, based on a visual inspection of the property and the knowledge of the surveyor, there has been no change in the facts depicted in the survey or (B) an affidavit from the Borrower and the Guarantors stating that there has been no change, other than, in each case, changes that do not materially adversely affect the use by the Borrower or Guarantor, as applicable, of such Premises for the Borrower or such Guarantor’s business as so conducted, or intended to be conducted, at such Premises. Notwithstanding the foregoing, (i) the Borrower and the Guarantors shall not be required to pledge or grant any security interest in any Material Real Property if the cost of perfecting the lien exceeds the fair market value of such Material Real Property and (ii) so long as the Indenture is outstanding, the provisions of this Section 6.17 shall not apply with respect to any real property which has not been included as “Collateral” under the Indenture.

  • Security Interest and Collateral To secure the payment and performance of the Obligations, Borrower hereby grants Lender a security interest (herein called the "Security Interest") in the following Collateral, whether now owned or hereafter acquired by Borrower and wherever located, and all products and proceeds thereof: (a) Crops, whether annual or perennial, whether grown, growing or to be grown, and whether harvested or unharvested, the products and proceeds thereof and stored grain (including all of the foregoing designated as inventory) and any negotiable or nonnegotiable documents, scale tickets and the like resulting from the storage thereof; also seed, fertilizer, chemicals, and other supplies used or produced by Borrower in farming operations; also accounts, contract rights (including proceeds from insurance policies covering the other Collateral), instruments, documents and general intangibles, whether now owned or hereafter acquired and wherever located; hedging and commodity accounts or agreements, now or hereafter or in effect, together with all rights in and to such accounts or agreements and all payments due or to become due thereunder. (b) Livestock (including livestock in gestation) and their young, products and proceeds and progeny thereof and produce thereof, including all livestock designated as inventory; also feed, medicines and other supplies used or produced by Borrower in farming operations; also accounts, contract rights (including proceeds from insurance policies covering the other Collateral), instruments, documents and general intangibles, whether now owned or hereafter acquired and wherever located; hedging and commodity accounts or agreements, now or hereafter or in effect, together with all rights in and to such accounts or agreements and all payments due or to become due thereunder. (c) All of Borrower’s equipment and machinery, and all accessions and attachments thereto and replacements and substitutions therefore (the Equipment). Borrower shall not remove any of the Collateral from locations disclosed in this Agreement, nor sell, convey or encumber said Collateral, provided, however, that Borrower may sell said Collateral or any part thereof if, and only if: (i) the proceeds of such sale are made payable jointly to Lender and Borrower if requested by ▇▇▇▇▇▇, it being specifically understood and agreed that all Obligations secured by the Collateral to the extent of the sale price shall be due and payable at the time of such sale; and (ii) Borrower sells the Collateral only to buyers listed on the Credit Application if required pursuant to the terms of Subsection 2(c) below.