Release of Charge Sample Clauses

Release of Charge. 2.3.1 The pari pasu charge created under Article 2.2.1 shall be immediately released and vacated on the earlier of: (a) the date on which the PPA has terminated, in accordance with the terms thereof, and all the Secured Obligations have been paid in full; (b) the occurrence of all of the following events mentioned in sub-articles (i), (ii) and (iii) below, subject to the proviso to this sub-clause: (i) A period of not less than two (2) years, from COD of Power Station, has elapsed; and (ii) The Procurer has achieved, for its ability to honour its Tariff Payment obligations to the Seller under PPA, a credit rating of „A‟ or better from a SEBI registered Indian credit rating agency (acceptable to Lenders) consistently for a period of at least three (3) years; and Immediately prior to the aforementioned three (3) year period, for a period of at least two (2) years, there has been no Procurer Event of Default under Article 13.2 of the PPA by such Procurer. Provided that, the Procurer shall intimate the Seller in writing of the occurrence of the above events and its intention to release the pari pasu charge created under this Agreement. If the Seller desires to continue with said pari pasu charge, the Seller shall intimate the same to the Procurer in writing within thirty (30) days of receipt of intimation from the Procurer and in such case the Seller shall be liable to bear the costs of continuation of such pari pasu charge, with effect from such date. In case the Seller fails to respond or agrees to release the pari pasu charge, the said charge shall forthwith cease and this Agreement shall stand terminated. 2.3.2 In the case of the occurrence of the events described in Article 2.3.1 (a) or (b) and in the event the Seller fails to respond or agrees to release the pari pasu charge as mentioned above, the Seller shall at its own costs and expenses forthwith: (a) cede the benefit of the pari pasu charge on and security interest in the Hypothecated Interest; and (b) re-assign, retransfer or re-convey to the Procurer, or as it may direct, the Hypothecated Interest or such part thereof as may remain, freed from the Security created hereunder; and (c) execute all such documents and do all such other acts as may be required by the Procurer in connection with the release of the benefit of the charge on and security interest in the Hypothecated Interest.
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Release of Charge. 13.1 The Buyer acknowledges that it will not receive a release of the Property from any charge or Security Interest granted by the registered owner at settlement (apart from a release of any mortgage registered on the title to the Lot which will prevent the registration of the Transfer Documents). 13.2 The Buyer will not Object to or make any Claim against the Seller if the Seller does not provide a release of the Property from any charge or Security Interest at settlement (apart from a release of any mortgage registered on the title to the Lot which will prevent the registration of the Transfer Documents).
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Release of Charge. (a) If the Indenture has terminated and the Liabilities have been irrevocably and unconditionally satisfied in full, the Chargee must at any time thereafter, at the Chargor’s request and cost, discharge and release this Charge and the security created by it, and release, re-assign and transfer (without representation and warranty) all the Charged Shares (to the extent assigned and transferred to the Chargee pursuant to this Charge) to the Chargor. (b) If all of the conditions of the release of the collateral set forth in Article X of the Indenture have been satisfied, the Chargee must at any time thereafter, at the Chargor’s request and cost, discharge the security created by this Charge in such collateral (without representation and warranty). (c) Subject to clauses 8(d) and 8(e), if at any time the Charged Shares exceed 65% of the then outstanding issued share capital of the Company, the Chargee shall (at the request and Expense of the Chargor) discharge and release this Charge with respect to such number of the Charged Shares as exceeds 65% of the outstanding issued share capital of the Company at that time. (d) If at any time the Charged Shares are less than 65% of the then outstanding issued share capital of the Company, the Chargor shall forthwith subject such ever number of shares in the capital of the Company to the Security Interest created pursuant to this Charge as are required to have the Charged Shares represent 65% of the outstanding issued share capital of the Company at that time. (e) Any release, discharge or settlement between the Chargor and the Chargee will be conditional on no security, disposition or payment to the Chargee by the Chargor being avoided or reduced pursuant to any provisions of enactments relating to bankruptcy, liquidation, winding-up or dissolution or insolvency, and if such condition is not fulfilled the Chargee will be entitled to enforce this security subsequently as if the release, discharge or settlement had not occurred. (f) Any receipt, release, settlement or discharge of any security created by this Charge or of any liability arising under this Charge may be given by the Chargee in accordance with the provisions of this Charge and shall not release or discharge any liability to the Chargee for the same or any other moneys which may exist independently of this Charge. Where such receipt, release, settlement or discharge relates to only part of the Liabilities, such receipt, release, settlement or discharge shall...
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Release of Charge. 9.1 Prior to Closing the Seller shall procure the release of the charge over the property demised by the 117 Lease dated 3 April 2003 in favour of Barclays Bank plc.
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Release of Charge. If the Company acquires assets or property the acquisition of which is funded wholly by persons other than Stockholders in their capacity as Stockholders ("OTHER ASSETS"), the Security Trustee will if requested to do so by the Company unconditionally release those Other Assets from this Charge.
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Related to Release of Charge

  • Release of Deposit If DSI does not receive Contrary Instructions from the Depositor, DSI is authorized to release the Deposit Materials to the Preferred Beneficiary or, if more than one beneficiary is registered to the deposit, to release a copy of the Deposit Materials to the Preferred Beneficiary. However, DSI is entitled to receive any fees due DSI before making the release. Any copying expense in excess of $300 will be chargeable to Preferred Beneficiary. This Agreement will terminate upon the release of the Deposit Materials held by DSI.

  • Release of Deposits Escrow Agent will make available for electronic download (unless otherwise requested) to ICANN or its designee, within twenty-­‐four (24) hours, at the Registry Operator’s expense, all Deposits in Escrow Agent’s possession in the event that the Escrow Agent receives a request from Registry Operator to effect such delivery to ICANN, or receives one of the following written notices by ICANN stating that: 6.1. the Registry Agreement has expired without renewal, or been terminated; or 6.2. ICANN has not received a notification as described in Part B, Sections 7.1 and

  • Release of Liens The Lenders and Secured Parties hereby irrevocably agree that the Liens granted to the Collateral Agent by the Credit Parties on any Collateral shall be automatically released (A) in full, upon the occurrence of the Termination Date, (B) upon the sale or other disposition of such Collateral (including as part of or in connection with any other sale or other disposition permitted hereunder) to any Person other than another Credit Party, to the extent such sale or other disposition is made in compliance with the terms of this Agreement (and the Collateral Agent may rely conclusively on a certificate to that effect provided to it by any Credit Party upon its reasonable request without further inquiry), (C) to the extent such Collateral is comprised of property leased to a Credit Party, upon termination or expiration of such lease, (D) if the release of such Lien is approved, authorized or ratified in writing by the Required Lenders (or such other percentage of the Lenders whose consent may be required in accordance with this Section 13.1), (E) to the extent the property constituting such Collateral is owned by any Guarantor, upon the release of such Guarantor from its obligations under the applicable Guarantee (in accordance with the second following sentence), (F) as required to effect any sale or other disposition of Collateral in connection with any exercise of remedies of the Collateral Agent pursuant to the Security Documents, (G) if such assets constitute Excluded Property or Excluded Stock or Stock Equivalents and (H) to the extent approved, authorized or ratified in writing in accordance with Section 13.1. Any such release shall not in any manner discharge, affect, or impair the Obligations or any Liens (other than those being released) upon (or obligations (other than those being released) of the Credit Parties in respect of) all interests retained by the Credit Parties, including the proceeds of any sale, all of which shall continue to constitute part of the Collateral except to the extent otherwise released in accordance with the provisions of the Credit Documents. In addition, the Lenders and the Secured Parties hereby irrevocably agree that the Collateral Agent shall, at the request of the Parent Borrower, subordinate any Lien on any property granted to or held by the Collateral Agent under any Credit Document to the holder of any Lien permitted under clause (ii), (vi) (solely with respect to Section 10.1(d) and/or 10.1(v)), (viii), (ix) and/or (xlix) of the definition of Permitted Lien.

  • Release of Collateral, etc Any release, surrender, exchange, subordination, deterioration, waste, loss or impairment (including without limitation negligent, willful, unreasonable or unjustifiable impairment) of any collateral, property or security, at any time existing in connection with, or assuring or securing payment of, all or any part of the Obligations;

  • Release of Lien (a) The Issuer shall be entitled to obtain a release from the Lien of the Indenture for any Timeshare Loan purchased, repurchased or substituted under Section 4.6 hereof, (i) upon satisfaction of each of the applicable provisions of Section 4.6 hereof, (ii) in the case of any purchase or repurchase, after a payment by the Depositor of the Repurchase Price of the related Timeshare Loan, and (iii) in the case of any substitution, after payment by the Depositor of the applicable Substitution Shortfall Amounts, if any, pursuant to Section 4.6 hereof. (b) The Issuer shall be entitled to obtain a release from the Lien of the Indenture for any Timeshare Loan which has been paid in full. (c) In addition, at the written direction of the Servicer, on any Payment Date if (i) Available Funds are sufficient to pay the Required Payments, (ii) the amount on deposit in the General Reserve Account is at least equal to the General Reserve Account Required Balance, (iii) the amount on deposit in the Force Majeure Loan Reserve Account is at least equal to the Force Majeure Required Reserve Amount, (iv) no Event of Default has occurred and is continuing, (v) the Optional Purchase Limit is greater than zero and (vi) the Aggregate Outstanding Note Balance is not greater than the Principal Advance Rate Percentage times the sum of the Aggregate Loan Balance and the Prefunding Loan Balance, the Indenture Trustee shall release or shall consent to the release of Defaulted Timeshare Loans that have not been purchased, repurchased or substituted under Section 4.6 hereof from the Lien of the Indenture, without additional payment. (d) In connection with (a), (b) and (c) above, the Issuer and Indenture Trustee will execute and deliver such releases, endorsements and assignments as are provided to it by the Depositor, in each case, without recourse, representation or warranty, as shall be necessary to vest in the Depositor or its designee, the legal and beneficial ownership of each Timeshare Loan being released pursuant to this Section 4.7. The Servicer shall deliver a Request for Release to the Custodian with respect to the related Timeshare Loan Files and Timeshare Loan Servicing Files being released pursuant to this Section 4.7, and such files shall be transferred to the Depositor or its designee.