Common use of Termination of Liens Clause in Contracts

Termination of Liens. The Lender shall have received duly executed UCC-3 Termination Statements and other instruments, in form and substance satisfactory to the Lender, as shall be necessary to terminate and satisfy all Liens on the Property of the Borrower and its Subsidiaries except Permitted Liens.

Appears in 5 contracts

Sources: Loan and Security Agreement (Cosmetic Center Inc), Loan and Security Agreement (Globespan Semiconductor Inc), Loan and Security Agreement (Intellicell Corp)

Termination of Liens. The Lender shall have received duly executed UCC-3 Termination Statements and other instrumentsinstruments (including UCC Assignments from the Bank), in form and substance reasonably satisfactory to the Lender, as shall be necessary to terminate and satisfy all Liens on the Property of the Borrower and its Subsidiaries except Permitted Liens.

Appears in 1 contract

Sources: Loan and Security Agreement (Strouds Inc)

Termination of Liens. The Lender shall have received duly executed UCC-3 Termination Statements and other instruments, in form and substance satisfactory to the Lender, as shall be necessary to terminate and satisfy all Liens on the Property of the Borrower and its Subsidiaries each member of the GTS Consolidated Group except Permitted Liens.

Appears in 1 contract

Sources: Loan and Security Agreement (Great Train Store Co)

Termination of Liens. The Lender shall have received duly executed UCC-3 -------------------- Termination Statements and other instruments, in form and substance satisfactory to the Lender, as shall be necessary to terminate and satisfy all Liens on the Property Collateral (other than those of the Borrower and its Subsidiaries except Permitted LiensLender).

Appears in 1 contract

Sources: Loan and Security Agreement (Reliance Acceptance Group Inc)

Termination of Liens. The Prior to the first Closing Date, Lender shall have received duly executed UCC-3 Termination Statements and other instruments, in form and substance satisfactory to the Lender, as shall be necessary to terminate and satisfy all Liens on the Property Collateral of the Borrower and its Subsidiaries except Permitted LiensBorrower.

Appears in 1 contract

Sources: Loan and Security Agreement (Emergent Group Inc)

Termination of Liens. The Lender shall have received duly executed UCC-3 Termination Statements UCC -------------------- termination statements and other instruments, instruments in form and substance satisfactory to the Lender, as shall be necessary to terminate and satisfy all any Liens on the Property of the Borrower and its Subsidiaries Collateral except for Permitted Liens.

Appears in 1 contract

Sources: Loan and Security Agreement (Environmental Group International LTD)

Termination of Liens. The Lender shall have received duly executed UCC-3 Termination Statements and other instruments, in form and substance satisfactory to the Lender, as shall be necessary to terminate and satisfy all Liens on the Property of the Borrower Borrowers and its their Subsidiaries except Permitted Liens.

Appears in 1 contract

Sources: Loan and Security Agreement (Outlook Group Corp)

Termination of Liens. The Lender shall have received duly -------------------- executed UCC-3 Termination Statements and other instruments, in form and substance satisfactory to the Lender, as shall be necessary to terminate and satisfy all Liens on the Property of the Borrower and its Subsidiaries except Permitted Liens.

Appears in 1 contract

Sources: Loan and Security Agreement (Trend Lines Inc)