Common use of Lien Termination Clause in Contracts

Lien Termination. In recognition of FINOVA's right to have all of its attorneys' fees and other expenses incurred in connection with this Agreement secured by the Collateral, notwithstanding the payment in full of the Obligations, FINOVA shall not be required to record any terminations or satisfactions of any of its liens on the Collateral unless and until Borrower and any other Loan Party (to the extent required by FINOVA) have executed and delivered to FINOVA general releases of all claims, in form and substance satisfactory to FINOVA

Appears in 2 contracts

Sources: Loan and Security Agreement (Community Medical Transport Inc), Loan and Security Agreement (Community Medical Transport Inc)