Common use of Continuing Security Interest; Termination Clause in Contracts

Continuing Security Interest; Termination. This Section shall create a continuing pledge of, Lien on and security interest in the Account Collateral and shall remain in full force and effect until payment in full of the Indebtedness. Upon payment in full of the Indebtedness, each applicable Borrower shall be entitled to the return, upon such Borrower’s written request and at Borrowers’ expense, of such of the Account Collateral as shall not have been sold or otherwise applied pursuant to the terms hereof, and Lender shall execute such instruments and documents as may be reasonably requested by such Borrower in writing to evidence such termination and the release of the pledge and Lien hereof, provided, however, that such Borrower shall pay on demand all of Lender’s expenses in connection therewith.

Appears in 12 contracts

Samples: Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc)

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Continuing Security Interest; Termination. This Section shall create a continuing pledge of, Lien on and security interest in the Account Collateral and shall remain in full force and effect until payment in full of the Indebtedness. Upon payment in full of the Indebtedness, each applicable Borrower shall be entitled to the return, upon such Borrower’s 's written request and at Borrowers' expense, of such of the Account Collateral as shall not have been sold or otherwise applied pursuant to the terms hereof, and Lender shall execute such instruments and documents as may be reasonably requested by such Borrower in writing to evidence such termination and the release of the pledge and Lien hereof, provided, however, that such Borrower shall pay on demand all of Lender’s 's expenses in connection therewith.

Appears in 6 contracts

Samples: Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc)

Continuing Security Interest; Termination. This Section 2.15 shall create a continuing pledge of, Lien on of and security interest in the Account Collateral and shall remain in full force and effect until payment in full by Borrower of the Indebtedness and the payment in full of all Crossed Indebtedness. Upon payment in full by Borrower of the Indebtedness and payment in full of all Crossed Indebtedness, each applicable Lender shall return to Borrower shall be entitled to the return, upon such Borrower’s written request and at Borrowers’ expense, of such of the Account Collateral as shall not have been sold or otherwise applied pursuant to the terms hereof, and Lender shall execute such instruments and documents as may be reasonably requested by such Borrower in writing to evidence such termination and the release of the pledge and Lien lien hereof, provided, however, that such Borrower shall pay on demand all of Lender’s expenses in connection therewith.

Appears in 5 contracts

Samples: Loan Agreement (Affordable Residential Communities Inc), Loan Agreement (Affordable Residential Communities Inc), Loan Agreement (Affordable Residential Communities Inc)

Continuing Security Interest; Termination. This Section shall create a continuing pledge of, Lien on and security interest in the Account Collateral and shall remain in full force and effect until payment in full of the Indebtedness. Upon payment in full of the Indebtedness, each applicable Borrower shall be entitled to the return, upon such Borrower’s 's written request and at Borrowers’ Borrower's expense, of such of the Account Collateral as shall not have been sold or otherwise applied pursuant to the terms hereof, and Lender shall execute such instruments and documents as may be reasonably requested by such Borrower in writing to evidence such termination and the release of the pledge and Lien hereof, provided, however, that such Borrower shall pay on demand all of Lender’s 's expenses in connection therewith.

Appears in 4 contracts

Samples: Mezzanine Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Alternative Living Services Inc), Loan Agreement (Hallwood Realty Partners L P)

Continuing Security Interest; Termination. This Section shall create a continuing pledge of, Lien on and security interest in the Account Collateral and shall remain in full force and effect until payment in full of the Indebtedness. Upon payment in full of the Indebtedness, each applicable Borrower shall be entitled to the return, upon such Borrower’s written request and at Borrowers’ Borrower’s expense, of such of the Account Collateral as shall not have been sold or otherwise applied pursuant to the terms hereof, and Lender shall execute such instruments and documents as may be reasonably requested by such Borrower in writing to evidence such termination and the release of the pledge and Lien hereof, provided, however, that such Borrower shall pay on demand all of Lender’s expenses in connection therewith.

Appears in 1 contract

Samples: Loan Agreement (Ashford Hospitality Trust Inc)

Continuing Security Interest; Termination. This Section 2.13 shall create a continuing pledge of, Lien on of and security interest in the Account Collateral and shall remain in full force and effect until payment or defeasance in full of the Indebtedness. Upon payment or defeasance in full of the Indebtedness, each applicable Borrower shall be entitled to the return, upon such Borrower’s written its request and at Borrowers’ its expense, of such of the Account Collateral as shall not have been sold or otherwise applied pursuant to the terms hereof, and Lender Servicer shall execute such instruments and documents as may be reasonably requested by such Borrower in writing to evidence such termination and the release of the pledge and Lien lien hereof, provided, however, that such Borrower shall pay on demand all of Lender’s Servicer's expenses in connection therewith.

Appears in 1 contract

Samples: Loan Agreement (Forum Group Inc)

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Continuing Security Interest; Termination. This Section ----------------------------------------- ------- shall create a continuing pledge of, Lien on and security interest in the Account Collateral and shall remain in full force and effect until payment in full of the Indebtedness. Upon payment in full of the Indebtedness, each applicable Borrower shall be entitled to the return, upon such Borrower’s 's written request and at Borrowers’ Borrower's expense, of such of the Account Collateral as shall not have been sold or otherwise applied pursuant to the terms hereof, and Lender shall execute such instruments and documents as may be reasonably requested by such Borrower in writing to evidence such termination and the release of the pledge and Lien hereof, provided, however, that such Borrower shall pay on demand all of Lender’s 's -------- ------- reasonable expenses in connection therewith.

Appears in 1 contract

Samples: Loan Agreement (G&l Realty Corp)

Continuing Security Interest; Termination. This Section 2.13 shall create a continuing pledge of, Lien on of and security interest in the Account Collateral and shall remain in full force and effect until payment in full of the Indebtedness. Upon Subject to the terms of this Agreement and upon payment in full of the Indebtedness, each applicable Borrower shall be entitled to the return, upon such Borrower’s written its request and at Borrowers’ its expense, of such of the Account Collateral as shall not have been sold or otherwise applied pursuant to the terms hereof, and Lender shall execute such instruments and documents as may be reasonably requested by such Borrower in writing to evidence such termination and the release of the pledge and Lien hereof, provided, however, that such Borrower shall pay on demand all of Lender’s 's expenses in connection therewith.

Appears in 1 contract

Samples: Loan Agreement (Continental Health Affiliates Inc)

Continuing Security Interest; Termination. This Section 2.13 shall create a continuing pledge of, Lien on of and security interest in the Account Collateral and shall remain in full force and effect until payment in full of the Indebtedness. Upon payment in full of the Indebtedness, each applicable Borrower shall be entitled to the return, upon such Borrower’s written its request and at Borrowers’ its expense, of such of the Account Collateral as shall not have been sold or otherwise applied pursuant to the terms hereof, and Lender shall execute such instruments and documents as may be reasonably requested by such Borrower in writing to evidence such termination and the release of the pledge and Lien hereof, provided, however, that such Borrower shall pay on demand all of Lender’s 's expenses in connection therewith.

Appears in 1 contract

Samples: Loan Agreement (Mark Centers Trust)

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