Required Release of Collateral. Notwithstanding any provision of this Agreement or the Loan Agreement to the contrary, the Company from time to time will release from the pledge and security interest under the Loan Agreement, such Collateral as must be allocated to participants under the Plan pursuant to Section 8.7(h) of the Plan and otherwise under the Code, the Exempt Loan Rules or other applicable law.
Appears in 8 contracts
Sources: Exempt Loan and Share Purchase Agreement (Third Century Bancorp), Exempt Loan and Share Purchase Agreement (Citizens Bancorp), Exempt Loan and Share Purchase Agreement (Citizens Bancorp)