No Lien Termination without Release. Notwithstanding the payment in full of all Obligations by Borrower, Lender shall not be required to record any terminations or satisfactions of any of its Liens on the Collateral unless and until Borrower and all Guarantors have executed and delivered to Lender general releases that conform to California Civil Code Sections 1541 and 1542.
Appears in 2 contracts
Samples: Loan and Security Agreement (Deja Foods Inc), Loan and Security Agreement (Deja Foods Inc)
No Lien Termination without Release. Notwithstanding the payment in full of all Obligations by BorrowerObligations, Lender shall not be required to record any terminations or satisfactions of any of its Liens on the Collateral unless and until Borrower and all Guarantors the Credit Parties have executed and delivered to Lender general releases that conform to California Civil Code Sections 1541 and 1542.
Appears in 2 contracts
Samples: Loan and Security Agreement (American Tonerserv Corp.), Loan and Security Agreement (American Tonerserv Corp.)
