Common use of Termination of Liens Clause in Contracts

Termination of Liens. Provided that there are no suits, actions, proceedings or claims pending or threatened against any Person who Borrower has agreed to indemnify under this Agreement, Lender will, at Borrower’s expense, release or terminate any filings or other agreements that perfect the Lender’s Liens in the Collateral upon Lender’s receipt of each of the following, in form and content satisfactory to Lender: (i) cash payment in full of all Obligations (including termination of all Obligations under any Hedge Agreement, which will be terminated and paid pursuant to the applicable Hedge Agreement) and completed performance by Borrower with respect to its other obligations under this Agreement and the other Loan Documents (including providing cash collateral to be held by Lender for the benefit of Lender in an amount equal to 105% of the then existing Letter of Credit Usage and subject to satisfaction of the L/C Collateral Conditions), (ii) evidence that any obligation of Lender to make Advances to Borrower, issue Letters of Credit or provide any further extensions of credit to or for the benefit of Borrower has been terminated, (iii) a general release of all claims against Lender and its Affiliates by Borrower relating to the Line of Credit and Lender’s performance and obligations under the Loan Documents, and (iv) an agreement by Borrower, each Guarantor, and any new lender to Borrower to indemnify Lender and its Affiliates for any payments received by Lender or its Affiliates that are applied to the Obligations as a final payoff that may later be returned or otherwise not paid for any reason.

Termination of Liens. Provided that there are no suits, actions, proceedings or claims pending or threatened against any Person who Borrower has agreed to indemnify under this AgreementUpon repayment in full of the Obligations and termination of the commitments hereunder, Lender will, at Borrower’s Borrowers’ expense, immediately release or terminate any filings or other agreements that perfect the Lender’s Liens in the Collateral upon Lender’s receipt of each of the following, in form and content reasonably satisfactory to Lender: (i) cash payment in full of all Obligations (including termination of all Obligations under any Hedge Agreement, which will be terminated and paid pursuant to the applicable Hedge Agreement) and completed performance by Borrower Borrowers with respect to its other obligations under this Agreement and the other Loan Documents (including providing cash collateral to be held by Lender for the benefit of Lender in an amount equal to 105% of the then existing Letter of Credit Usage and subject to satisfaction of the L/C Collateral Conditions), (ii) evidence that any obligation of Lender to make Advances to BorrowerBorrowers, issue Letters of Credit or provide any further extensions of credit to or for the benefit of Borrower Borrowers has been terminated, (iii) a general release of all claims against Lender and its Affiliates by Borrower Borrowers relating to the Line of Credit and Lender’s performance and obligations under the Loan Documents, and (iv) an agreement by Borrower, Borrowers and each Guarantor, and any new lender to Borrower Loan Party to indemnify Lender and its Affiliates for any payments received by Lender or its Affiliates that are applied to the Obligations as a final payoff that may later be returned or otherwise not paid for any reason.

Termination of Liens. Provided that there are no suits, actions, proceedings or claims pending or threatened against any Person who Borrower has Borrowers have agreed to indemnify under this Agreement, Lender will, at Borrower’s Borrowers' expense, release or terminate any filings or other agreements that perfect the Lender’s 's Liens in the Collateral upon Lender’s 's receipt of each of the following, in form and content satisfactory to Lender: (i) cash payment in full of all Obligations (including termination of all Obligations under any Hedge Agreement, which will be terminated and paid pursuant to the applicable Hedge Agreement) and completed performance by Borrower Borrowers with respect to its other obligations under this Agreement and the other Loan Documents (including providing cash collateral to be held by Lender for the benefit of Lender in an amount equal to 105110% of the then existing Letter of Credit Usage and subject to satisfaction of the L/C Collateral Conditions), (ii) evidence that any obligation of Lender to make Advances to BorrowerBorrowers, issue Letters of Credit or provide any further extensions of credit to or for the benefit of Borrower Borrowers has been terminated, (iii) a general release of all claims against Lender and its Affiliates by Borrower Borrowers relating to the Line of Credit and Term Loan and Lender’s 's performance and obligations under the Loan Documents, and (iv) an agreement by BorrowerBorrowers, each GuarantorLoan Party, and any new lender to Borrower Borrowers to indemnify Lender and its Affiliates for any payments received by Lender or its Affiliates that are applied to the Obligations as a final payoff that may later be returned or otherwise not paid for any reason.

Termination of Liens. Provided that there are no suits, actions, proceedings or claims pending or threatened against any Person who Borrower has Borrowers have agreed to indemnify under this Agreement, Lender will, at Borrower’s Borrowers’ expense, release or terminate any filings or other agreements that perfect the Lender’s Liens in the Collateral upon Lender’s receipt of each of the following, in form and content satisfactory to Lender: (i) cash payment in full of all Obligations (including termination of all Obligations under any Hedge Agreement, which will be terminated and paid pursuant to the applicable Hedge Agreement) and completed performance by Borrower Borrowers with respect to its their other obligations under this Agreement and the other Loan Documents (including providing cash collateral to be held by Lender for the benefit of Lender in an amount equal to 105110% of the then existing Letter of Credit Usage and subject to satisfaction of the L/C Collateral Conditions), (ii) evidence that any obligation of Lender to make Advances to BorrowerBorrowers, issue Letters of Credit or provide any further extensions of credit to or for the benefit of Borrower Borrowers has been terminated, (iii) a general release of all claims against Lender and its Affiliates by Borrower Borrowers and all other Loan Parties relating to the Line of Credit and Lender’s performance and obligations under the Loan Documents, and (iv) an agreement by BorrowerBorrowers, each Guarantor, Loan Party and any new lender to Borrower Borrowers to indemnify Lender and its Affiliates for any payments received by Lender or its Affiliates that are applied to the Obligations as a final payoff that may later be returned or otherwise not paid for any reason.