Common use of Releases of Liens Clause in Contracts

Releases of Liens. At such time as the Loans, the Reimbursement Obligations and the other obligations under the Loan Documents shall have been paid in full, the Revolving Commitments have been terminated and no Letters of Credit shall be outstanding, the Collateral shall be released from the Liens created by the Collateral Documents, and the Collateral Documents and all obligations (other than those expressly stated to survive such termination) of the Administrative Agent and each Loan Party under the Collateral Documents shall terminate, all without delivery of any instrument or performance of any act by any Person.

Appears in 10 contracts

Samples: Credit Agreement (ESH Hospitality, Inc.), Credit Agreement (ESH Hospitality, Inc.), Credit Agreement (ESH Hospitality, Inc.)

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Releases of Liens. At such time as the Loans, the Reimbursement Obligations Loan and the other obligations Obligations under the Loan Documents shall have been indefeasibly paid in full, full in immediately available funds and the Revolving Commitments have Commitment has been terminated and no Letters of Credit shall be outstandingterminated, the Collateral shall be released from the Liens created by the Collateral Security Documents, and the Collateral Security Documents and all obligations (other than those expressly stated to survive such termination) of the Administrative Agent Lender and each Loan Party the Borrower under the Collateral Security Documents shall terminate, all without delivery of any instrument or performance of any act by any Person.

Appears in 2 contracts

Samples: Credit and Security Agreement (Crumbs Bake Shop, Inc.), Possession Security Agreement (Americanwest Bancorporation)

Releases of Liens. At such time as the Loans, the Reimbursement Obligations and the other obligations under the Loan Documents shall have been paid in full, the Revolving Commitments have been terminated and no Letters of Credit shall be outstanding, the Collateral shall be released from the Liens created by the Collateral DocumentsAccount Control Agreement, and the Collateral Documents Account Control Agreement and all obligations (other than those expressly stated to survive such termination) of the Administrative Agent and each Loan Party under the Collateral Documents Account Control Agreement shall terminate, all without delivery of any instrument or performance of any act by any Person.

Appears in 1 contract

Samples: Credit Agreement (ESH Hospitality LLC)

Releases of Liens. At such time as the Loans, the Reimbursement Obligations Loans and the other obligations Obligations under the Loan Documents shall have been indefeasibly paid in full, full in immediately available funds and the Revolving Commitments have Commitment has been terminated and no Letters of Credit shall be outstandingterminated, the Collateral shall be released from the Liens created by the Collateral DocumentsSecurity Documents and the Order, and the Collateral Security Documents and all obligations (other than those expressly stated to survive such termination) of the Administrative Agent Lender and each Loan Party the Borrower under the Collateral Security Documents shall terminate, all without delivery of any instrument or performance of any act by any Person.

Appears in 1 contract

Samples: Possession Credit Agreement (First Mariner Bancorp)

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Releases of Liens. At such time as the Loans, the Reimbursement Obligations Loans and the other obligations under the Loan Documents shall have been paid in full, full and the Revolving Term Commitments have been terminated and no Letters of Credit shall be outstandingterminated, the Collateral shall be released from the Liens created by the Collateral Documents, and the Collateral Documents and all obligations (other than those expressly stated to survive such termination) of the Administrative Agent and each Loan Party under the Collateral Documents shall terminate, all without delivery of any instrument or performance of any act by any Person.

Appears in 1 contract

Samples: Credit Agreement (ESH Hospitality, Inc.)

Releases of Liens. At such time as all of the Loans, the Reimbursement Obligations Loans and the other obligations Obligations under the Loan Documents shall have been indefeasibly paid in full, full in immediately available funds and the Revolving Commitments have Commitment has been terminated and no Letters of Credit shall be outstandingterminated, the Collateral shall be released from the Liens created by the Collateral Security Documents, and the Collateral Security Documents and all obligations (other than those expressly stated to survive such termination) of the Administrative Agent Lender and each Loan Party the Borrower under the Collateral Security Documents shall terminate, all without delivery of any instrument or performance of any act by any Person.

Appears in 1 contract

Samples: Possession Credit Agreement (Quantum Fuel Systems Technologies Worldwide, Inc.)

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