Common use of Lien Releases; Care of Collateral Clause in Contracts

Lien Releases; Care of Collateral. Agent will release (and the Secured Parties authorize Agent to release) any Lien on any Collateral (a) upon Full Payment of the Obligations under the Loan Documents; (b) that is the subject of a disposition or Lien that Borrowers certify in writing is a Permitted Asset Disposition or a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on such certificate without further inquiry); (c) that does not constitute a material part of the Collateral (as agreed by Agent and Borrower); or (d) subject to Section 14.1, with the consent of Required Lenders. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien entitled to priority hereunder. Agent has no obligation to assure that any Collateral exists or is owned by an Obligor, or is cared for, protected or insured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 3 contracts

Samples: Loan Agreement (Conns Inc), Loan and Security Agreement (Conns Inc), Loan Agreement (Conns Inc)

AutoNDA by SimpleDocs

Lien Releases; Care of Collateral. Agent will release (and the Secured Parties authorize Agent to release) release any Lien on with respect to any Collateral (a) upon Full Payment of the outstanding Obligations under the Loan Documentsand termination of all Commitments; (b) that is the subject of a disposition or Lien that Borrowers certify in writing is a Permitted Asset Disposition or a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate without further inquiry); (c) that does not constitute a material part of the Collateral (as agreed by Agent and Borrower)Collateral; or (d) subject to Section 14.115.1, with the consent of Required Lenders. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien entitled to priority hereunder. Agent has shall have no obligation to assure that any Collateral exists or is owned by an Obligor, or is cared for, protected or insured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 3 contracts

Samples: Loan and Security Agreement (U.S. Concrete, Inc.), Loan and Security Agreement (Us Concrete Inc), Loan and Security Agreement (Us Concrete Inc)

Lien Releases; Care of Collateral. Agent will release (and the Secured Parties authorize Agent to release) release any Lien on with respect to any Collateral (a) upon Full Payment of the Obligations under the Loan DocumentsObligations; (b) that is the subject of a disposition or Lien that Borrowers certify in writing is a Permitted Asset Disposition or a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate without further inquiry); (c) that does not constitute a material part of the Collateral (as agreed by Agent and Borrower)Collateral; or (d) subject to Section 14.1, with the consent of Required Lenders. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien entitled to priority hereunder. Agent has no obligation to assure that any Collateral exists or is owned by an Obligor, or is cared for, protected or insured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 3 contracts

Samples: Loan Agreement (School Specialty Inc), Loan Agreement (School Specialty Inc), Loan Agreement (School Specialty Inc)

Lien Releases; Care of Collateral. Agent will release (and the Secured Parties authorize Agent to release (and Agent shall release) any Lien on with respect to any Collateral (a) upon Full Payment of the Obligations under the Loan DocumentsObligations; (b) that is the subject of a disposition or Lien that Borrowers certify in writing is a Permitted Asset Disposition or a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate without further inquiry); (c) subject to Section 14.1.1(c), that does not constitute a material part of the Collateral (as agreed by Agent and Borrower)Collateral; or (d) subject to Section 14.114.1.1(c), with the consent of Required Lenders. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien entitled expressly permitted hereunder to have priority hereunderover Agent’s Liens. Agent has shall have no obligation to assure that any Collateral exists or is owned by an Obligor, or is cared for, protected or insured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 2 contracts

Samples: Loan and Security Agreement (Bespoke Capital Acquisition Corp), Loan and Security Agreement (Bespoke Capital Acquisition Corp)

Lien Releases; Care of Collateral. Agent will release (and the Secured Parties authorize Agent to release) release any Lien on with respect to any Collateral (a) upon Full Payment of the Obligations under the Loan DocumentsObligations; (b) that is the subject of a disposition or Lien that Borrowers certify in writing is a Permitted Asset Disposition or a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate without further inquiry); (c) that does not constitute a material part of the Collateral (as agreed by Agent and Borrower)Collateral; or (d) subject to Section 14.1, with the consent of Required Lenders. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien entitled to priority hereunder. Agent has shall have no obligation to assure that any Collateral exists or is owned by an Obligora Borrower, or is cared for, protected or insured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 2 contracts

Samples: Credit and Security Agreement (Titan International Inc), Credit and Security Agreement (Titan International Inc)

Lien Releases; Care of Collateral. Agent will release (and the Secured Parties authorize Agent to release) release any Lien on with respect to any Collateral (a) upon Full Payment of the Obligations under the Loan DocumentsObligations; (b) that is the subject of a disposition or Lien that Borrowers certify Borrower certifies in writing is a Permitted Asset Disposition or a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate without further inquiry); (c) that does not constitute a material part of the Collateral (as agreed by Agent and Borrower)Collateral; or (d) subject to Section 14.1, with the consent of Required Lenders. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien entitled to priority hereunder. Agent has no obligation to assure that any Collateral exists or is owned by an Obligor, or is cared for, protected or insured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 2 contracts

Samples: Loan Agreement (School Specialty Inc), Loan Agreement (School Specialty Inc)

Lien Releases; Care of Collateral. Agent will release (and the Secured Parties authorize Agent to release) release any Lien on with respect to any Collateral (a) upon Full Payment of the Obligations under the Loan DocumentsObligations; (b) that is the subject of a disposition or Lien that Borrowers certify Borrower Agent certifies in writing is a Permitted Asset Disposition or a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate without further inquiry); (c) that does not constitute a material part of the Collateral (as agreed by Agent and Borrower)Collateral; or (d) subject to Section 14.1, with the consent of Required Lenders. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien entitled to priority hereunder. Agent has no obligation to assure that any Collateral exists or is owned by an Obligor, or is cared for, protected or insured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 2 contracts

Samples: Loan and Security Agreement (Arctic Cat Inc), Loan and Security Agreement (Arctic Cat Inc)

Lien Releases; Care of Collateral. Agent will release (and the Secured Parties authorize Agent to release) release any Lien on with respect to any Collateral (a) upon Full Payment of the Obligations under the Loan DocumentsObligations; (b) that is the subject of a disposition or Lien that Borrowers Obligors certify in writing is a Permitted Asset Disposition or a Permitted Lien entitled to priority over Agent’s 's Liens (and Agent may rely conclusively on any such certificate without further inquiry); ) (c) that does not constitute provided, however, all Liens granted on assets sold or transferred under a material part of the Collateral (as agreed by Agent and BorrowerPermitted Asset Disposition shall be automatically released upon such Permitted Asset Disposition); or (dc) subject to Section 14.115.1, with the consent of Required Lenders. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien entitled to priority hereunder. Agent has no obligation to assure that any Collateral exists or is owned by an Obligor, or is cared for, protected or insured, nor to assure that Agent’s 's Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 2 contracts

Samples: Guaranty and Security Agreement (Guess Inc), Loan, Guaranty and Security Agreement (Guess Inc)

Lien Releases; Care of Collateral. Agent will release (and the Secured Parties The Lenders authorize Agent to release) release any Lien on with respect to any Collateral (a) upon Full Payment of the Obligations under the Loan DocumentsObligations; (b) that is the subject of a disposition or Lien that Borrowers certify Borrower certifies in writing is a Permitted Asset Disposition permitted pursuant to this Agreement or a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate without further inquiry); (c) that does not constitute a material part of the Collateral (as agreed by Agent and Borrower)Collateral; or (d) subject to Section 14.115.1, with the consent of Required Lenders. Secured Parties The Lenders authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien entitled to priority hereunder. Agent has no obligation to assure that any Collateral exists or is owned by an Obligor, or is cared for, protected or insured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 1 contract

Samples: Term Loan and Security Agreement (Key Energy Services Inc)

Lien Releases; Care of Collateral. Agent will release (and the Secured Parties authorize Agent to release) release any Lien on with respect to any Collateral (a) upon Full Payment of the Obligations under the Loan DocumentsObligations; (b) that is the subject of a disposition or Lien that Borrowers certify in writing is a Permitted Asset Disposition or a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate without further inquiry); (c) that does not constitute a material part of the Collateral (as agreed by Agent and Borrower)Collateral; or (d) subject to Section 14.1, with the consent of Required Lenders. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien entitled to priority hereunder. Agent has shall have no obligation to assure that any Collateral exists or is owned by an Obligora Borrower, or is cared for, protected or insured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.. 77

Appears in 1 contract

Samples: Credit and Security Agreement (Titan International Inc)

Lien Releases; Care of Collateral. Agent will release (and the Secured Parties authorize Agent to release) release any Lien on any Collateral (a) upon Full Payment of the Obligations under the Loan DocumentsObligations; (b) that is the subject of a disposition or Lien that Borrowers certify in writing is a Permitted Asset Disposition or a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on such certificate without further inquiry); (c) that does not constitute a material part of the Collateral (as agreed by Agent and Borrower)Collateral; or (d) subject to Section 14.1, with the consent of Required Lenders. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien entitled to priority hereunder. Agent has no obligation to assure that any Collateral exists or is owned by an Obligor, or is cared for, protected or insured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Super Micro Computer, Inc.)

Lien Releases; Care of Collateral. Agent will release (and the Secured Parties authorize Agent to release) release any Lien on with respect to any Collateral (a) upon Full Payment of the Obligations under the Loan DocumentsObligations; (b) that is the subject of a disposition or Lien that Borrowers certify in writing is a Permitted Asset Disposition or a Permitted Lien entitled to priority over Agent’s 's Liens (and Agent may rely conclusively on any such certificate without further inquiry); (c) that does not constitute a material part of the Collateral (as agreed by Agent and Borrower)Collateral; or (d) subject to Section 14.1, with the consent of Required Lenders. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien entitled to priority hereunder. Agent has no obligation to assure that any Collateral exists or is owned by an Obligor, or is cared for, protected or insured, nor to assure that Agent’s 's Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Northwest Pipe Co)

Lien Releases; Care of Collateral. Agent will release (and the Secured Parties authorize Agent to release) release any Lien on with respect to any Collateral (a) upon Full Payment of the Obligations under the Loan DocumentsObligations; (b) that is the subject of a disposition or Lien that Borrowers certify an Asset Disposition which Borrower Agent certifies in writing to Agent is a Permitted Asset Disposition or a Lien which Borrower Agent certifies is a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate without further inquiry); (c) that does not constitute a material part of the Collateral (as agreed by Agent and Borrower)Collateral; or (d) subject to Section 14.1, with the written consent of Required all Lenders. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien entitled to priority permitted hereunder. Agent has shall have no obligation to assure that any Collateral exists or is owned by an Obligor, or is cared for, protected or insured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Installed Building Products, Inc.)

Lien Releases; Care of Collateral. Agent will release (and the Secured Parties authorize Agent to release (and Agent shall release) any Lien on with respect to any Collateral (a) upon Full Payment of the Obligations under the Loan DocumentsObligations; (b) that is the subject of a disposition or Lien that Borrowers certify in writing is a Permitted Asset Disposition or a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate without further inquiry); (c) that does not constitute a material part of the Collateral (as agreed by Agent and Borrower)Collateral; or (d) subject to Section 14.1, with the consent of Required Lenders. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien entitled to priority hereunder. Agent has shall have no obligation to assure that any Collateral exists or is owned by an Obligor, or is cared for, protected or insured, nor to assure that Agent’s 's Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 1 contract

Samples: First Lien Loan and Security Agreement (Duckhorn Portfolio, Inc.)

Lien Releases; Care of Collateral. Agent will release (and the Secured Parties authorize Agent to release) release any Lien on any Collateral (a) upon Full Payment of the Obligations under the Loan DocumentsObligations; (b) that is the subject of a disposition or Lien that Borrowers certify Borrower certifies in writing is a Permitted Asset Disposition or a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on such certificate without further inquiry); (c) that does not constitute a material part of the Collateral (as agreed by Agent and Borrower)Collateral; or (d) subject to Section 14.1, with the consent of Required Lenders. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien entitled to priority hereunder. Agent has no obligation to assure that any Collateral exists or is owned by an Obligor, or is cared for, protected or insured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Vizio Holding Corp.)

Lien Releases; Care of Collateral. Agent will release (and the Secured Parties authorize Agent to release (and Agent shall release) any Lien on with respect to any Collateral (a) upon Full Payment of the Obligations under the Loan DocumentsObligations; (b) that is the subject of a disposition or Lien that Borrowers certify in writing is a Permitted Asset Disposition or a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate without further inquiry); (c) subject to Section 14.1.1(c), that does not constitute a material part of the Collateral (as agreed by Agent and Borrower)Collateral; or (d) subject to Section 14.114.1.1(c), with the consent of Required Lenders. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien entitled expressly permitted hereunder to have priority hereunderover Agent’s Liens. Agent has shall have no obligation to assure that any Collateral exists or is owned by an Obligor, or is cared for, protected or insured, nor to assure that Agent’s 's Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Vintage Wine Estates, Inc.)

Lien Releases; Care of Collateral. Agent will release (and the Secured Parties authorize Agent to release) release any Lien on any Collateral (a) upon Full Payment of the Obligations under the Loan DocumentsObligations; (b) that is the subject of a disposition or Lien that Borrowers certify in writing is a Permitted Asset Disposition or a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on such certificate without further inquiry); (c) that does not constitute a material part of the Collateral (as agreed by Agent and Borrower)Collateral; or (d) subject to Section 14.115.1, with the consent of Required Lenders. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien entitled to priority hereunder. Agent has no obligation to assure that any Collateral exists or is owned by an Obligor, or is cared for, protected or insured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Americas Carmart Inc)

AutoNDA by SimpleDocs

Lien Releases; Care of Collateral. Agent will release (and the Secured Parties authorize Agent to release) release any Lien on any Collateral (a) upon Full Payment of the Obligations under the Loan DocumentsObligations; (b) pursuant to Section 8.4.2 or any other provision of this Agreement or any other Loan Document that requires the Agent to release its Liens on any Collateral, (c) that is the subject of a disposition or Lien that Borrowers certify in writing is a Permitted Asset Disposition or a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on such certificate without further inquiry); (cd) that does not constitute a material part of the Collateral (as agreed by Agent and Borrower)Collateral; or (de) subject to Section 14.1, with the consent of Required Lenders. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien entitled to priority hereunder. Agent has no obligation to assure that any Collateral exists or is owned by an Obligor, or is cared for, protected or insured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (NewLake Capital Partners, Inc.)

Lien Releases; Care of Collateral. Agent will release (and the Secured Parties authorize Agent to release) release any Lien on any Collateral (a) upon Full Payment of the Obligations under the Loan DocumentsObligations; (b) that is the subject of a disposition or Lien that Borrowers certify in writing is a Permitted Asset Disposition or a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on such certificate without further inquiry); (c) that does not constitute a material part of the Collateral (as agreed by Agent and Borrower)Collateral; or (d) subject to Section 14.1, with the consent of Required Lenders. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien entitled to priority hereunder. Agent has no obligation to assure that any Collateral exists or is owned by an Obligor, or is cared for, protected or insured, nor to assure that Agent’s 's Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Americas Carmart Inc)

Lien Releases; Care of Collateral. Agent will release (and the Secured Parties authorize Agent to release) release any Lien on any Collateral (a) upon Full Payment of the Obligations under the Loan DocumentsObligations; (b) that is the subject of a disposition or Lien that Borrowers certify in writing is a Permitted Asset Disposition or a Permitted Lien entitled to priority over Agent’s 's Liens (and Agent may rely conclusively on such certificate without further inquiry); (c) that does not constitute a material part of the Collateral (as agreed by Agent and Borrower)Collateral; or (d) subject to Section 14.1, with the consent of Required Lenders. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien entitled to priority hereunder. Agent has no obligation to assure that any Collateral exists or is owned by an Obligor, or is cared for, protected or insured, nor to assure that Agent’s 's Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.. ​

Appears in 1 contract

Samples: Loan and Security Agreement (Adara Acquisition Corp.)

Lien Releases; Care of Collateral. Agent will release (and the Secured Parties authorize Agent in its capacity as agent and security trustee to release) release any Lien on any Collateral (a) upon Full Payment of the Obligations under the Loan DocumentsObligations; (b) that is the subject of a disposition or Lien that Borrowers Obligors certify in writing is a Permitted Asset Disposition or a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on such certificate without further inquiry); (c) that does not constitute a material part of the Collateral (as agreed by Agent and Borrower)Collateral; or (d) subject to Section 14.1, with the consent of the applicable Required Lenders. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien entitled to priority hereunder. Agent has no obligation to assure that any Collateral exists or is owned by an Obligor, or is cared for, protected or insured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 1 contract

Samples: Guaranty and Security Agreement (Turtle Beach Corp)

Lien Releases; Care of Collateral. Agent will release (and the Secured Parties authorize Agent to release) release any Lien on any Collateral (a) upon Full Payment of the Obligations under the Loan DocumentsObligations; (b) that is the subject of a disposition or Lien that Borrowers Obligors certify in writing is a Permitted Asset Disposition or a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on such certificate without further inquiry); (c) that does not constitute a material part of the Collateral (as agreed by Agent and Borrower)Collateral; or (d) subject to Section 14.1, with the consent of Required Lenders. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien entitled to priority hereunder. .Agent has no obligation to assure that any Collateral exists or is owned by an Obligor, or is cared for, protected or insured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Hydrofarm Holdings Group, Inc.)

Lien Releases; Care of Collateral. Agent will release (and the Secured Parties Lenders authorize Agent to release) release any Lien on with respect to any Collateral (a) upon Full Payment of the Obligations under the Loan DocumentsObligations; (b) that is the subject of a disposition or Lien that an Asset Disposition which Borrowers certify in writing to Agent is a Permitted Asset Disposition or a Lien which Borrowers certify is a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate without further inquiry); (c) that does not constitute a material part of the Collateral (except as agreed permitted by Agent and BorrowerSection 14.1.1(d)(iv) to the extent permitted with the consent of the Required Lenders); or (d) subject to Section 14.1, with the written consent of Required all Lenders. Secured Parties Lenders authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien entitled to priority permitted hereunder. Agent has shall have no obligation to assure that any Collateral exists or is owned by an Obligora Borrower, or is cared for, protected or insured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Olympic Steel Inc)

Lien Releases; Care of Collateral. Agent will release (and the Secured Parties authorize Agent to release) release any Lien on any Collateral (ai) upon Full Payment of the Obligations under the Loan DocumentsObligations; (bii) that is the subject of a disposition or Lien that Borrowers Obligors certify in writing is a Permitted Asset Disposition or a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on such certificate without further inquiry); (ciii) that does not constitute a material part of the Collateral (as agreed by Agent and Borrower)Collateral; or (div) subject to Section 14.114.1 , with the consent of Required Lenders. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien entitled to priority hereunder. Agent has no obligation to assure that any Collateral exists or is owned by an Obligor, or is cared for, protected or insured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Hydrofarm Holdings Group, Inc.)

Lien Releases; Care of Collateral. Agent will release (and the Secured Parties authorize Agent to release) release any Lien on any Collateral (a) upon Full Payment of the Obligations under the Loan DocumentsObligations; (b) that is the subject of a disposition or Lien that Borrowers certify in writing is a Permitted Asset Disposition or a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on such certificate without further inquiry); (c) that does not constitute a material part of 106 the Collateral (as agreed by Agent and Borrower)Collateral; or (d) subject to Section 14.1, with the consent of Required Lenders. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien entitled to priority hereunder. Agent has no obligation to assure that any Collateral exists or is owned by an Obligor, or is cared for, protected or insured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Super Micro Computer, Inc.)

Lien Releases; Care of Collateral. Agent will release (and the Secured Parties authorize Agent to release) release any Lien on any Collateral (a) upon Full Payment of the Obligations under the Loan DocumentsObligations; (b) that is the subject of a disposition or Lien that Borrowers Obligors certify in writing is a Permitted Asset Disposition or a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on such certificate without further inquiry); (c) that does not constitute a material part of the Collateral (as agreed by Agent and Borrower)Collateral; or (d) subject to Section 14.1, with the consent of the applicable Required Lenders. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien entitled to priority hereunder. Agent has no obligation to assure that any Collateral exists or is owned by an Obligor, or is cared for, protected or insured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Appears in 1 contract

Samples: Loan, Guaranty and Security Agreement (Turtle Beach Corp)

Lien Releases; Care of Collateral. Agent will release (and the Secured Parties authorize Agent to release) release any Lien on with respect to any Collateral (a) upon Full Payment of the outstanding Obligations under the Loan Documentsand termination of all Commitments; (b) that is the subject of a disposition or Lien that Borrowers certify in writing is a Permitted Asset Disposition or a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate without further inquiry); (c) that does not constitute a material part of the Collateral (as agreed by Agent and Borrower)Collateral; or (d) subject to Section 14.115.1, with the consent of Required Lenders. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien entitled to priority hereunder. Agent has shall have no obligation to assure that any Collateral exists or is owned by an Obligor, or is cared for, protected or insured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral. 12.2.2.

Appears in 1 contract

Samples: Loan and Security Agreement (Us Concrete Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.