Release of Security Interests Sample Clauses

Release of Security Interests. Upon the Final Payout Date, the security interests in all of the Pool Receivables and Related Security and the Lock-Box Accounts created by the Transaction Documents (for the avoidance of doubt, excluding any ownership, security or other interest of the Seller) shall be automatically terminated and released. In connection with any release pursuant to Section 4.2(b) or this Section 5.18, the Administrator shall (and each Purchaser, each Purchaser Agent and the LC Bank irrevocably authorizes the Administrator to), at the Seller’s expense, execute, deliver or authorize, as applicable, any documents (in form and substance reasonably satisfactory to the Administrator) that Seller (or Servicer on its behalf) may reasonably request which are necessary or desirable to evidence such release, including, without limitation, financing statement amendments (Form UCC-3).

Release of Security Interests. (a) Notwithstanding anything to the contrary contained herein or in any other Loan Document, the Administrative Agent is hereby irrevocably authorized by each Lender (without requirement of notice to or consent of any Lender except as expressly required by Section 11.1) to take any action requested by the Borrowers having the effect of releasing any collateral or guarantee obligations (i) to the extent necessary to permit consummation of any transaction expressly permitted by any Loan Document or that has been consented to in accordance with Section 11.1 or (ii) under the circumstances described in paragraph (b) below. (b) At such time as the Loans, the Reimbursement Obligations and the other obligations under the Loan Documents shall have been paid in full, the Commitments have been terminated and no letters of Credit shall be outstanding, the collateral shall be released from the Liens created by the Security Agreements, and the Security Agreements and all obligations (other than those expressly stated to survive such termination) of the Administrative Agent and each Obligor under the Security Agreements shall terminate, all without delivery of any instrument or performance of any act by any Person.

Release of Security Interests. (a) With respect to the Notes or each series of Notes, the Security Trustee’s Liens upon Collateral will no longer secure the obligations with respect to the Notes or that series of Notes and the right of the Holders of such obligations to the benefits and proceeds of the Security Trustee’s Liens on Collateral will terminate and be discharged: (A) upon satisfaction and discharge of this Indenture as set forth under in Section 12.01; (B) upon a Legal Defeasance or Covenant Defeasance with respect to that series of Notes as set forth in Article 8; or (C) upon payment in full in cash of the applicable Notes and all other related Note obligations that are outstanding, due and payable at the time the Notes are paid in full in cash; and (2) in accordance with the CSAA.

Release of Security Interests. (a) As of the Original Effective Date, the Administrative Agent hereby releases (and is hereby irrevocably authorized by each Lender (without requirement of notice to or consent of any Lender) to release) and agrees to take any action requested by the Borrower having the effect of releasing (i) any guarantee obligations of, and collateral granted or pledged by, any Foreign Subsidiary pursuant to the Existing Credit Agreement (as defined in the Existing Credit Agreement) and the Loan Documents related thereto and (ii) any Capital Securities pledged by the Borrower or its U.S. Subsidiaries pursuant to the WWI Pledge Agreement consisting of more than 65% of the Voting Stock of any Foreign Subsidiary. (b) Notwithstanding anything to the contrary contained herein or in any other Loan Document, the Administrative Agent is hereby irrevocably authorized by each Lender (without requirement of notice to or consent of any Lender except as expressly required by Section 11.1) to take any action requested by the Borrower having the effect of releasing any collateral or guarantee obligations (i) to the extent necessary to permit consummation of any transaction expressly permitted by any Loan Document or that has been consented to in accordance with Section 11.1, as applicable, or (ii) under the circumstances described in clause (c) below. (c) Upon the occurrence of the Investment Grade Rating Date or at such time as the Loans, the Reimbursement Obligations and the other obligations under the Loan Documents shall have been paid in full, the Commitments have been terminated and no Letters of Credit shall be outstanding (other than Letters of Credit for which the Borrower has provided cash collateral in accordance with Section 2.6), the collateral shall be released from the Liens created by the Collateral Documents and all obligations thereunder (other than those expressly stated to survive such termination) of the Administrative Agent and each Obligor thereunder shall terminate (in the case of the Security Agreements, all without delivery of any instrument or performance of any act by any Person).

Release of Security Interests. The Lender shall have received evidence satisfactory to it of the release and termination of all Liens other than Permitted Liens.

Release of Security Interests. The Agent shall have received evidence satisfactory to it of the release and termination of all Liens other than Permitted Liens.

Release of Security Interests. As a condition to the issuance of the shares of Common Stock in conversion of the Obligations at Closing, Debt Holder hereby cancels, terminates and releases any and all security interests, liens and other encumbrances held by or for the benefit of the Debt Holder with respect to the Obligations in or on the assets, rights or other property of the Company, including, without limitation, all security interests, liens and other encumbrances on the patents, trademarks and other intellectual property rights of the Company (collectively, the "Security Interests"). Debt Holder agrees to execute and deliver such instruments and documents (including UCC-3 filings) and take such other action as may be necessary to affect the complete release of all Security Interests.

Release of Security Interests. Provision satisfactory to Buyer shall have been made for the release of any security interests which encumber any of the Purchased Assets and the cost of such releases shall be borne by the Seller.

Release of Security Interests. On the Closing Date, the Shareholders shall deliver "payoff letters" from each Company's respective creditors, identifying the amount that must be paid to satisfy the Company's obligations to such creditor as of the Closing Date, and shall cause the Company to pay, with funds provided by Buyer, such amounts in full on the Closing Date. The Shareholders shall cooperate in obtaining releases from the Company's secured creditors of the their respective security interests promptly after Closing including, without limitation, causing its secured creditors to execute and file a UCC-3 financing statement in connection with its security interest described in Section 3.9(a).