Common use of RETURN OF PLEDGED COLLATERAL UPON TERMINATION Clause in Contracts

RETURN OF PLEDGED COLLATERAL UPON TERMINATION. Upon the release, satisfaction, discharge or termination of all of the Obligations and the termination of the Purchase Agreement, the Pledgee shall cause to be transferred or returned to the Pledgor all of the stock pledged by the Pledgor herein and any money, property and rights received by the Pledgee pursuant hereto, to the extent the Pledgee has not taken, sold or otherwise realized upon the same as permitted hereunder, together with all other documents reasonably required by the Pledgor to evidence termination of the pledge contemplated hereby.

Appears in 1 contract

Sources: Stock Pledge Agreement (Halsey Drug Co Inc/New)

RETURN OF PLEDGED COLLATERAL UPON TERMINATION. Upon the release, satisfaction, discharge or termination of all of the Obligations Security Interest Termination Date and the termination of the Purchase Agreement, the Pledgee shall cause to be transferred or returned to the Pledgor all of the stock pledged by the Pledgor herein and any money, property and rights received by the Pledgee pursuant hereto, to the extent the Pledgee has not taken, sold or otherwise realized upon the same as permitted hereunder, together with all other documents reasonably required by the Pledgor to evidence termination of the pledge contemplated hereby.

Appears in 1 contract

Sources: Stock Pledge Agreement (Halsey Drug Co Inc/New)

RETURN OF PLEDGED COLLATERAL UPON TERMINATION. Upon the release, satisfaction, discharge or termination of all of the Obligations and the termination of the Purchase Loan Agreement, the Pledgee shall cause to be transferred or returned to the Pledgor all of the stock pledged by the Pledgor herein and any money, property and rights received by the Pledgee pursuant hereto, to the extent the Pledgee has not taken, sold or otherwise realized upon the same as permitted hereunder, together with all other documents reasonably required by the Pledgor to evidence termination of the pledge contemplated hereby.

Appears in 1 contract

Sources: Stock Pledge Agreement (Halsey Drug Co Inc/New)