Release of Borrower Sample Clauses

Release of Borrower. The Insured’s execution of a release or waiver of the right to collect any portion of the unpaid principal balance of a Loan or other amounts due under the Loan shall release the Company from its obligation to the extent and amount of said release.
AutoNDA by SimpleDocs
Release of Borrower. Subject to the terms of this Assumption Agreement and as set forth below, Noteholder hereby releases Borrower from further liability under the Tulare Note and the other Tulare Loan Documents for any acts or events occurring or obligations arising after the Closing Date which are not caused by, or do not arise out of, any acts or events occurring or obligations arising prior to or simultaneously with the Closing Date; provided, however, the provisions of this paragraph shall not (i) constitute a waiver, release or impairment of any obligation under the Tulare Note or the Tulare Loan Documents of Borrower for any acts or events occurring, or obligations arising, prior to or simultaneously with, the Closing Date; (ii) impair the right of Noteholder to name Borrower, for purposes of extinguishing Borrower’s interest in the Tulare Property (which term shall have the same definition herein as assigned to such term in the Tulare Deed of Trust) as a party defendant in any action or suit for judicial foreclosure and sale under the Tulare Deed of Trust; (iii) impair the right of Noteholder to obtain the appointment of a receiver with respect to the Tulare Property; (iv) impair the enforcement of the Assignment of Leases executed in connection with the Tulare Deed of Trust; and (v) impair the right of Noteholder to bring suit against Borrower for any acts or events occurring, or obligations arising, prior to or simultaneously with the Closing Date. Nothing contained in this section shall (1) be deemed to be a release or impairment of the indebtedness evidenced by the Tulare Note or the lien of the Tulare Loan Documents upon the Tulare Property, or (2) preclude Noteholder from foreclosing the Tulare Loan Documents in case of any default, not cured within any applicable notice and/or cure period, or from enforcing any of the other rights of Noteholder except as stated in this paragraph. Upon transfer of the Daleville Loan Documents and the Sommerset Loan Documents from Noteholder to a designee of Borrower, Noteholder shall have no further claims against Borrower with respect to the Sommerset Loan, the Sommerset Loan Documents, the Daleville Loan and the Daleville Loan Documents, with the effect that any claims under the Sommerset Loan, the Sommerset Loan Documents, the Daleville Loan and the Daleville Loan Documents shall only be exercised by the assignee of such Sommerset Loan, the Sommerset Loan Documents, the Daleville Loan and the Daleville Loan Documents (which as...
Release of Borrower. This Loan Agreement and all Secured Obligations of Borrower hereunder shall be released when all Secured Obligations have been paid in full in cash or otherwise performed in full. Upon such release of Borrower's Secured Obligations hereunder, Lender shall return any pledged Collateral to Borrower, and shall endorse, execute, deliver, record and file all instruments and documents, and do all other acts and things, reasonably required for the return of the Collateral to Borrower, or to the Person or Persons legally entitled thereto, and to evidence or document the release of Lender's interests arising under this Loan Agreement, all as reasonably requested by, and at the sole expense of, Borrower.
Release of Borrower. As soon as reasonably practicable after a prepayment has been made pursuant to Clause 8.8 following the sale or the Total Loss of a Mortgaged Ship, the Agent will, subject to being indemnified to its satisfaction against the cost of doing so, release the Borrower owning that Ship from its obligations under the Finance Documents to which it is a party and reassign to that Borrower without any warranty, representation, covenant or other recourse any rights which had been assigned by that Borrower under the Finance Documents Provided that at the time of the release and reassignment no Event of Default is continuing nor will result from such release and reassignment.
Release of Borrower. Consent to the assignment or transfer by the Borrower of its rights and Obligations under (or in respect of) the Loan Documents or otherwise release the Borrower from its Obligations under the Loan Documents; or
Release of Borrower. The Lender will release the Borrower from the Borrower’s obligations under the Contract and to pay the Loan, and, if applicable, the Lender will also release any Surety from their suretyship of this Contract, if: (i) the Lender gives written approval to the Borrower to transfer title to the Hypothecated Property, (ii) the transfer is to a person or persons other than the Borrower so that the Borrower will not retain any ownership interest in the Hypothecated Property after the transfer of title takes place; (iii) the person or persons to whom the Borrower transfers the Hypothecated Property and any Surety the Lender requests enter into an agreement to pay the amounts secured by the Contract and Agreements and to perform the obligations in the Contract and Agreements; and (iv) the Borrower provides the Lender with proof of registration of a transfer/deed of the Hypothecated Property to the approved person or persons.
Release of Borrower. The Lender, the Administrative Agent and the Collateral Agent, for itself, in each of such capacities, and on behalf of its predecessors and successors and its past and present divisions and Subsidiaries, hereby absolutely and irrevocably forever releases and discharges the Borrower and its predecessors and successors and its past and present divisions and Subsidiaries and its and their shareholders, directors, officers, employees, agents, representatives, consultants, attorneys, Affiliates, and assigns, from any and all obligations, liabilities, losses, claims, counterclaims, demands, expenses, attorney’s fees, rights, actions, causes of action, debts, dues, sums of money, accounts, bonds, bills, covenants, contracts, controversies, agreements, promises, judgments, executions, or suits of any kind or nature, whether accrued or unaccrued, asserted or unasserted, known or unknown, suspected or unsuspected, absolute or contingent, in law, equity, bankruptcy or otherwise (including, without limitation, any and all claims for avoidable preferences, fraudulent conveyances or transfers and/or recoverable setoffs under the law of any jurisdiction regarding insolvency or debtor/creditor rights or otherwise) under or arising out of the Procurement Agreement, Finance Agreement, and all agreements, instruments and indentures relating to the Procurement Agreement or the Finance Agreement, or arising out of any circumstances occurring on or before the Closing Date, including, without limitation, the Arbitration, the New York Litigation, the Mexican Commercial Litigation, the Mexican Criminal Litigation and the Mexican Insolvency Litigation, but excluding any obligations under or arising out of this Agreement or any document or instrument delivered pursuant hereto.
AutoNDA by SimpleDocs
Release of Borrower. (a) Upon the written request of the Borrowers' Agent, any Borrower that owns a Plant with respect to which no Fundings have been made may be released from its obligations under, and cease to be subject to the terms of, this Agreement and the other Financing Documents (i) on the Conversion Date or (ii) prior to the Conversion Date if the Administrative Agent and the Borrowers have determined and agree, in good faith, that the conditions to funding for such Plant will not be able to be satisfied. Notwithstanding anything to the contrary herein, (A) on the date of any such release, the Administrative Agent and the Collateral Agent, at the expense of the Borrowers, shall execute and deliver all acknowledgements, lien releases, amendments and other instruments necessary to effectuate such release as the Borrowers may reasonably request, (B) from and after the date of any such release, such released "Borrower" shall no longer be a "Borrower" or a "Loan Party" under the Financing Documents, (C) such released "Borrower's" Plant shall no longer be a Plant or part of the Project under the Financing Documents, (D) all provisions (including any representation, warranty, condition precedent, covenant and default) in any of the Financing Documents relating to such released "Borrower" or "Plant" shall no longer apply to such released "Borrower" or released "Plant", and (E) any existing Defaults or Events of Default which solely relate to such released "Borrower" or its "Plant" shall be deemed to be waived.
Release of Borrower. Any full or partial release of the liability of Borrower on the Guaranteed Obligations, or any part thereof, or of any co-guarantors, or any other person or entity now or hereafter liable, whether directly or indirectly, jointly, severally, or jointly and severally, to pay, perform, guarantee or assure the payment of the Guaranteed Obligations, or any part thereof, it being recognized, acknowledged and agreed by Guarantor that Guarantor may be required to pay the Guaranteed Obligations in full without assistance or support of any other party, and Guarantor has not been induced to enter into this Guaranty on the basis of a contemplation, belief, understanding or agreement that other parties will be liable to pay or perform the Guaranteed Obligations, or that Lender will look to other parties to pay or perform the Guaranteed Obligations.
Release of Borrower. Upon the Release of a Mortgaged Property, Borrower that owns such Release Mortgaged Property shall automatically without further action be released from its obligations under this Agreement and the other Loan Documents with respect to the Release Mortgaged Property only except for (i) any liabilities or obligations (other than the Indebtedness) of such Borrower which arose prior to the Closing Date of such Release, and (ii) any Obligations that survive release as specifically set forth in Section 18 (Environmental Hazards) of the Security Instrument applicable to such Release Mortgaged Property.
Time is Money Join Law Insider Premium to draft better contracts faster.