Common use of Partial Releases Clause in Contracts

Partial Releases. The Lender agrees, provided always that no ---------------- Default or Event of Default shall have occurred and be continuing, as promptly as is practicable after__________ in each year (the period commencing_____________ and ending______________ and each subsequent 12-month period ending on_______________ being hereinafter referred to as a "Plan Year"), to release that number of Pledged Shares then being held to secure the Loan which is equal to the number of such Pledged Shares held as of the last day of the Plan Year multiplied by a fraction, the numerator of which is the aggregate amount of all principal and interest payments made on the Note during the Plan Year and the denominator of which is the sum of the numerator plus the unpaid principal and interest of the Note as of the last day of such Plan Year.

Partial Releases. The Lender agrees, provided always that no ---------------- Default ----------------- or Event of Default shall have occurred and be continuing, as promptly as is practicable afterafter _____________ in each year (the period commencing__commencing ___________ and endingending on ______________ and each subsequent 12-month period ending on_______________ being hereinafter herein after referred to as a "Plan Year"), to release that number of Pledged Shares then being held to secure the Loan which is equal to the number of such Pledged Shares held as of the last day of the Plan Year multiplied by a fraction, the numerator of which is the aggregate amount of all principal and interest payments made on the Note during the Plan Year and the denominator of which is the sum of the numerator plus the unpaid principal and interest of the Note as of the last day of such Plan Year.

Partial Releases. The Lender agrees, provided always that no ---------------- Default ----------------- or Event of Default shall have occurred and be continuing, as promptly as is practicable afterafter ________________ in each year (the period commencingcommencing _____________ and ending______________ and each subsequent 12-month period ending on_____________, 1998 and each subsequent 12-month period ending on ____________ being hereinafter herein after referred to as a "Plan Year"), to release that number of Pledged Shares then being held to secure the Loan which is equal to the number of such Pledged Shares held as of the last day of the Plan Year multiplied by a fraction, the numerator of which is the aggregate amount of all principal and interest payments made on the Note during the Plan Year and the denominator of which is the sum of the numerator plus the unpaid principal and interest of the Note as of the last day of such Plan Year.

Partial Releases. The Lender agrees, provided always that no Default ---------------- Default or Event of Default shall have occurred and be continuing, as promptly as is practicable after______________ in each year (the period commencingcommencing the date hereof and ending_____________ and ending______________ and each subsequent 12-month period ending on________________ being hereinafter referred to as a "Plan Year"), to release that number of Pledged Shares then being held to secure the Loan which is equal to the number of such Pledged Shares held as of the last day of the Plan Year multiplied by a fraction, the numerator of which is the aggregate amount of all principal and interest payments made on the Note during the Plan Year and the denominator of which is the sum of the numerator plus the unpaid principal and interest of the Note as of the last day of such Plan Year.

Partial Releases. The Lender agrees, provided always that no ---------------- Default or Event of Default shall have occurred and be continuing, as promptly as is practicable after__________ in each year (the period commencing_____________ and ending______________ and each subsequent 12-month period ending on_______________ being hereinafter referred to as a "Plan Year"), to release that number of Pledged Shares then being held to secure the Loan which is equal to the number of such Pledged Shares held as of the last day of the Plan Year multiplied by a fraction, the numerator of which is the aggregate amount of all principal and interest payments made on the Note during the Plan Year and the denominator of which is the sum of the numerator plus the unpaid principal and interest of the Note as of the last day of such Plan Year.

Partial Releases. The Lender agrees, provided always that no Default ---------------- Default or Event of Default shall have occurred and be continuing, as promptly as is practicable afterafter ___________ in each year (the period commencing__commencing on the date hereof and ending ___________ and ending______________ and in each subsequent 12-month period ending on____on ___________ being hereinafter referred to as a "Plan Year"), to release that number of Pledged Shares then being held to secure the Loan which is equal to the number of such Pledged Shares held as of the last day of the Plan Year multiplied by a fraction, the numerator of which is the aggregate amount of all principal and interest payments made on the Note during the Plan Year and the denominator of which is the sum of the numerator plus the unpaid principal and interest of the Note as of the last day of such Plan Year.

Partial Releases. The Lender agrees, provided always that no ---------------- Default or Event of Default shall have occurred and be continuing, as promptly as is practicable after__________ in each year (the period commencing_____________ and ending______________ and each subsequent 12-month period ending on_______________ being hereinafter referred to as a "Plan Year"), to release that number of Pledged Shares then being held to secure the Loan which is equal to the number of such Pledged Shares held as of the last day of the Plan Year multiplied by a fraction, the numerator of which is the aggregate amount of all principal and interest payments made on the Note during the Plan Year and the denominator of which is the sum of the numerator plus the unpaid principal and interest of the Note as of the last day of such Plan Year.

Partial Releases. The Lender agrees, provided always that no ---------------- Default or Event of Default shall have occurred and be continuing, as promptly as is practicable afterafter _____________ in each year (the period commencingcommencing _____________ and ending______________ and ending _____________, 1997 and each subsequent 12-month period ending on__on _____________ being hereinafter referred to as a "Plan Year"), to release that number of Pledged Shares then being held to secure the Loan which is equal to the number of such Pledged Shares held as of the last day of the Plan Year multiplied by a fraction, the numerator of which is the aggregate amount of all principal and interest payments made on the Note during the Plan Year and the denominator of which is the sum of the numerator plus the unpaid principal and interest of the Note as of the last day of such Plan Year.

Partial Releases. The Lender agreesshall, provided always that no Default ---------------- Default or Event of Default shall have occurred and be continuing, as promptly as is practicable afterafter __________ in each year (the period commencingcommencing on the date hereof and ending _____________ and ending______________ and in each subsequent 12-month period ending on_on ______________ being hereinafter referred to as a "Plan Year"), to release that number of Pledged Shares then being held to secure the Loan which is equal to the number of such Pledged Shares held as of the last day of the Plan Year multiplied by a fraction, the numerator of which is the aggregate amount of all principal and interest payments made on the Note during the Plan Year and the denominator of which is the sum of the numerator plus the unpaid principal and interest of the Note as of the last day of such Plan Year.

Partial Releases. The Lender agrees, provided always that no Default ---------------- Default or Event of Default shall have occurred and be continuing, as promptly as is practicable afterafter ______________ in each year (the period commencing__commencing ___________ and ending____ending __________ and each subsequent 12-month period ending on____on ___________ being hereinafter referred to as a "Plan Year"), to release that number of Pledged Shares then being held to secure the Loan which is equal to the number of such Pledged Shares held as of the last day of the Plan Year multiplied by a fraction, the numerator of which is the aggregate amount of all principal and interest payments made on the Note during the Plan Year and the denominator of which is the sum of the numerator plus the unpaid principal and interest of the Note as of the last day of such Plan Year.