Pledge release Sample Clauses
A Pledge Release clause outlines the conditions and procedures under which pledged assets, such as collateral, are returned to the pledgor once certain obligations are fulfilled. Typically, this clause specifies that the release occurs after the borrower has repaid a loan or met all contractual requirements, and may detail the steps for notifying the pledgee and documenting the release. Its core practical function is to ensure that assets are not held longer than necessary, providing assurance to the pledgor and clarifying the process for both parties.
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Pledge release. A fully executed termination and release of the Regent Pledge, together with terminations and releases of all financing statements associated therewith.
Pledge release. (a) In accordance with the Interim Facilities Agreement; or
(b) once all the Secured Liabilities have been repaid in full and none of the Interim Finance Parties has any actual or contingent obligation under or in connection with the Interim Finance Documents, the Pledge shall, to the extent permitted by law, be released and discharged and, in all cases, at the request and cost of the Pledgor, the Pledgee shall, as soon as reasonably practicable after receipt of that request, release and discharge (as appropriate) the Pledged Assets from the Pledge, in accordance with the provisions of the Interim Facilities Agreement. If after the release of the Pledge, any payment made by the Pledgor in respect of the Secured Liabilities is declared null and void, the Pledgor shall immediately grant a new pledge over the Pledged Assets, subject to the same terms and conditions as the Pledge, until the Secured Liabilities have been irrevocably and unconditionally paid and discharged in full.
Pledge release. Investor covenants and agrees that from and after the date hereof, Investor shall take all necessary actions (including obtaining any required consents, delivering notices, and executing documents) to ensure that all Covered Securities shall be, as of the Closing, free and clear of any Lien. Without limiting the foregoing, Investor shall, prior to the Closing, cause the release of the pledges over 4,130,235 Common Shares currently granted in favor of the holders of Investor’s series C and series D debentures.