Termination of Existing Guarantees Sample Clauses

Termination of Existing Guarantees. To the extent any letter of credit issued outside this Agreement by any Issuing Lender or any Affiliate thereof becomes a Letter of Credit hereunder pursuant to paragraph (a) or (b) above, any guarantees provided by the Company, any Loan Party or any Applicable Account Party to such Issuing Lender or such Affiliate in respect of such Existing Letters of Credit or Designated Letters of Credit, as applicable, shall automatically terminate with respect to such Existing Letters of Credit or Designated Letters of Credit, as applicable, on the Closing Date or the applicable Designation Date, as the case may be, and be of no further force or effect. Additionally, any collateral provided by the Company, any Loan Party or any Applicable Account Party with regard to such Existing Letters of Credit or Designated Letters of Credit (other than, prior to the Collateral Release Date, the Collateral) shall be released and returned to the Company or such Applicable Account Party on the Closing Date or the applicable Designation Date, as the case may be. For the avoidance of doubt, this paragraph (c) shall have no effect on the Guarantee or the Security Documents.
View SourceView Similar (6)
Termination of Existing Guarantees. Effective upon receipt by Prosoft of the Settlement Payment, the ▇▇▇▇▇ Guarantee and the Khaled Guarantee shall terminate and be of no further force and effect.
View Source

Related to Termination of Existing Guarantees

  • Termination of Existing Credit Agreement Receipt by the Administrative Agent of evidence that the Existing Credit Agreement concurrently with the Closing Date is being terminated and all Liens securing obligations under the Existing Credit Agreement concurrently with the Closing Date are being released.

  • Termination of Existing Agreements Any previous employment agreement between Executive on the one hand and Employer or any of Employer’s Affiliates (as hereinafter defined) on the other hand is hereby terminated.

  • Termination of Existing Tax Sharing Agreements Any and all existing Tax sharing agreements (whether written or not) binding upon the Target Company or any of its Subsidiaries shall be terminated as of the Closing Date. After such date neither the Target Company nor any of its Subsidiaries or Representatives shall have any further rights or liabilities thereunder.

  • Ratification of Existing Agreements All existing Dual Enrollment agreements between the TRUSTEES and the Private School are hereby modified to conform to the terms of this agreement and the appendices of this document.

  • Complete Disposal Upon Termination of Service Agreement Upon Termination of the Service Agreement Provider shall dispose or delete all Student Data obtained under the Service Agreement. Prior to disposition of the data, Provider shall notify LEA in writing of its option to transfer data to a separate account, pursuant to Article II, section 3, above. In no event shall Provider dispose of data pursuant to this provision unless and until Provider has received affirmative written confirmation from LEA that data will not be transferred to a separate account.