Release of surplus Sample Clauses

Release of surplus. Any Earnings remaining to the credit of the Earnings Account following the making of any transfer to the Retention Account required by Clause 10.5 (Transfers to Retention Account), shall (unless an Event of Default shall have occurred and be continuing) be released to or to the order of the Borrower.”; and
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Release of surplus. Any amount standing to the credit of the Earnings Account shall (unless an Event of Default or Potential Event of Default shall have occurred and be continuing) be released to or to the order of the Borrower.
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Release of surplus. In the event that the amount of the Additional Prepayment made in accordance with Clause 2.1.6 (such amount calculated utilising the valuation already obtained in December 2008 pursuant to Clause 2.1.7) is greater than the amount of the Additional Prepayment required (such amount calculated utilising the valuations obtained pursuant to Clause 3.8), any amount remaining to the credit of the Cash Collateral Account following the making of any transfer required by Clause 3.6 shall (unless a Default or an Event of Default shall have occurred and be continuing) be released to or to the order of the Borrower.
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Release of surplus. Any amount remaining to the credit of the Operating Account following the making of any transfer required by Clause 11.4 shall (unless a Default shall have occurred and be continuing) be released to or to the order of the Borrower, subject to an amount of one hundred and fifty thousand Dollars ($150,000) remaining credited to the Operating Account at all times during the Facility Period.
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Release of surplus. The Lender shall instruct the Account Bank to release to the Operating Expenses Account for the relevant Vessel any amount remaining to the credit of the relevant Earnings Account following the making of any transfer required by Clause 12.3 (unless an Event of Default shall have occurred and be continuing). Thereafter, the relevant Borrower shall be entitled to withdraw sums of money standing to the credit of the Operating Expenses Account in the following circumstances (i) in and towards payment of any Operating Expenses; (ii) in the event of a reduction in the relevant Borrower’s Equity Contribution, an amount equal to such reduction, (iii) an amount equal to any late payment of Earnings made to the Earnings Account of the relevant Borrower after the Borrower has funded the transfer from the Earnings Account required by Clause 12.3; (iv) distribution to shareholders in accordance with and subject to Clause 16.8 and (v) in or towards a voluntary prepayment of the relevant Loan in accordance with Clause 6.5 (Voluntary prepayment).
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Release of surplus. The Lenders agree that, subject to no Event of Default having occurred that is continuing, following the Primary Transfers, each Borrower shall be entitled to withdraw any sums of money standing to the credit of the Earnings Accounts in the following circumstances: (i) in or towards payment of any amount which that Borrower may be required to pay pursuant to the terms of any Finance Document and (ii) thereafter, for use in the ordinary course of business of the group of companies to which that Borrower belongs.
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Related to Release of surplus

  • Release of Tax Funds Provided no Event of Default is continuing, Lender shall apply Tax Funds in the Tax Account to reimburse Borrower for payments of Property Taxes made by Borrower after delivery by Borrower to Lender of evidence of such payment reasonably acceptable to Lender. If the amount of the Tax Funds shall exceed the amounts due for Property Taxes, Lender shall, in its sole discretion, return any excess to Borrower or credit such excess against future payments to be made to the Tax Funds. Any Tax Funds remaining in the Tax Account after the Obligations have been paid in full shall be returned to Borrower. Provided no Default or Event of Default exists, the Tax Funds reserved for any Property will be released upon a permitted sale and release of such Property in accordance with the terms hereof.

  • Release of Collateral Subject to Section 11.01 and the terms of the Basic Documents, the Indenture Trustee shall release property from the lien of this Indenture only upon receipt by it of an Issuer Request accompanied by an Officer’s Certificate, an Opinion of Counsel and Independent Certificates in accordance with TIA Sections 314(c) and 314(d)(1) or an Opinion of Counsel in lieu of such Independent Certificates to the effect that the TIA does not require any such Independent Certificates.

  • Release of Collateral, etc Any release, surrender, exchange, subordination, deterioration, waste, loss or impairment (including without limitation negligent, willful, unreasonable or unjustifiable impairment) of any collateral, property or security, at any time existing in connection with, or assuring or securing payment of, all or any part of the Liabilities;

  • Release of Amounts So long as no Event of Default under the Credit Agreement shall have occurred and be continuing, the Administrative Agent will pay and release to the Borrower or at its order or, at the request of the Borrower, to the Administrative Agent to be applied to the Obligations of the Borrower under the Loan Documents such amount, if any, as is then on deposit in the L/C Cash Collateral Account.

  • Partial Release of Collateral Lender hereby releases the following collateral:

  • Release of Insurance Funds Provided no Event of Default is continuing, Lender shall apply Insurance Funds in the Insurance Account to timely pay, or reimburse Borrower for payments of, Insurance Premiums. If the amount of the Insurance Funds shall exceed the amounts due for Insurance Premiums, Lender shall, in its sole discretion, return any excess to Borrower or credit such excess against future payments to be made to the Insurance Funds. Any Insurance Funds remaining in the Insurance Account after the Obligations have been paid in full shall be returned to Borrower. Provided no Default or Event of Default exists, the Insurance Funds reserved for any Property will be released upon a permitted sale and release of such Property in accordance with the terms hereof.

  • Release of Property Except as set forth in this Section 2.6, no repayment, prepayment or defeasance of all or any portion of the Loan shall cause, give rise to a right to require, or otherwise result in, the release of the Lien of the Mortgage on the Property.

  • Release of Funds On the Redemption Date, the outstanding Note Balance of the Notes plus accrued and unpaid interest on the Notes will become due and payable and that interest on the Notes will cease to accrue from and after the Redemption Date, unless the Issuer fails to pay the Notes on the Redemption Date. On redemption, the Indenture Trustee will release the Collateral from the Lien of this Indenture and release to the Issuer or any other Person entitled to funds then in the Bank Accounts under this Indenture according to Section 8.4(c).

  • Amendments, Waivers and Release of Collateral Neither this Agreement, nor any of the Notes, nor any of the other Credit Documents, nor any terms hereof or thereof may be amended, supplemented, waived or modified except in accordance with the provisions of this Section nor may be released except as specifically provided herein or in the Security Documents or in accordance with the provisions of this Section 9.1. The Required Lenders may, or, with the written consent of the Required Lenders, the Administrative Agent may, from time to time, (a) enter into with the Borrower written amendments, supplements or modifications hereto and to the other Credit Documents for the purpose of adding any provisions to this Agreement or the other Credit Documents or changing in any manner the rights of the Lenders or of the Borrower hereunder or thereunder or (b) waive, on such terms and conditions as the Required Lenders may specify in such instrument, any of the requirements of this Agreement or the other Credit Documents or any Default or Event of Default and its consequences; provided, however, that no such waiver and no such amendment, waiver, supplement, modification or release shall:

  • Release of Lien (a) The Issuer shall be entitled to obtain a release from the Lien of the Indenture for any Timeshare Loan purchased, repurchased or substituted under Section 4.6 hereof, (i) upon satisfaction of each of the applicable provisions of Section 4.6 hereof, (ii) in the case of any purchase or repurchase, after a payment by the Depositor of the Repurchase Price of the related Timeshare Loan, and (iii) in the case of any substitution, after payment by the Depositor of the applicable Substitution Shortfall Amounts, if any, pursuant to Section 4.6 hereof.

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