Common use of Termination of Lien Clause in Contracts

Termination of Lien. The Liens and rights granted to Laurus hereunder and any Ancillary Agreements and the financing statements filed in connection herewith or therewith shall continue in full force and effect, notwithstanding the termination of this Agreement or the fact that any Company’s account may from time to time be temporarily in a zero or credit position, until all of the Obligations have been indefeasibly paid or performed in full after the termination of this Agreement. Laurus shall not be required to send termination statements to any Company, or to file them with any filing office, unless and until this Agreement and the Ancillary Agreements shall have been terminated in accordance with their terms and all Obligations indefeasibly paid in full in immediately available funds.

Appears in 19 contracts

Samples: Security Agreement (Iwt Tesoro Corp), Security and Purchase Agreement (Time America Inc), Security and Purchase Agreement (Miscor Group, Ltd.)

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Termination of Lien. The Liens and rights granted to Laurus hereunder and any Ancillary Agreements and the financing statements filed in connection herewith or therewith shall continue in full force and effect, notwithstanding the termination of this Agreement or the fact that any Company’s 's account may from time to time be temporarily in a zero or credit position, until all of the Obligations have been indefeasibly paid or performed in full after the termination of this Agreement. Laurus shall not be required to send termination statements to any Company, or to file them with any filing office, unless and until this Agreement and the Ancillary Agreements shall have been terminated in accordance with their terms and all Obligations indefeasibly paid in full in immediately available funds.

Appears in 17 contracts

Samples: Subordination Agreement (Deja Foods Inc), Security Agreement (Thinkpath Inc), Security Agreement (Gse Systems Inc)

Termination of Lien. The Liens and rights granted to Laurus hereunder and any Ancillary Agreements and the financing statements filed in connection herewith or therewith shall continue in full force and effect, notwithstanding the termination of this Agreement or the fact that any Company’s 's account may from time to time be temporarily in a zero or credit position, until (a) all of the Obligations of Company have been indefeasibly paid or performed in full after the termination of this Agreement. Laurus shall not be required to send termination statements to any Company, or to file them with any filing office, unless and until this Agreement and the Ancillary Agreements shall have been terminated in accordance with their terms and all Obligations indefeasibly paid in full in immediately available funds.

Appears in 6 contracts

Samples: Security Agreement (Digital Angel Corp), Security Agreement (Digital Angel Corp), Security Agreement (Home Solutions of America Inc)

Termination of Lien. The Liens and rights granted to Laurus hereunder and any Ancillary Agreements and the financing statements filed in connection herewith or therewith shall continue in full force and effect, notwithstanding the termination of this Agreement or the fact that any Company’s 's account may from time to time be temporarily in a zero or credit position, until all of the Obligations of Company have been indefeasibly paid or performed in full after the termination of this Agreement. Laurus shall not be required to send termination statements to any Company, or to file them with any filing office, unless and until this Agreement and the Ancillary Agreements shall have been terminated in accordance with their terms and all Obligations indefeasibly paid in full in immediately available funds.

Appears in 4 contracts

Samples: Security Agreement (Gvi Security Solutions Inc), Security Agreement (Transgenomic Inc), Security Agreement (Ventures National Inc)

Termination of Lien. The Liens and rights granted to Laurus hereunder and any Ancillary Agreements and the financing statements filed in connection herewith or therewith shall continue in full force and effect, notwithstanding the termination of this Agreement or the fact that any the Company’s 's account may from time to time be temporarily in a zero or credit position, until all of the Obligations have been indefeasibly paid or performed in full after the termination of this Agreement. Laurus shall not be required to send termination statements to any the Company, or to file them with any filing office, unless and until this Agreement and the Ancillary Agreements shall have been terminated in accordance with their terms and all Obligations indefeasibly paid in full in immediately available funds.

Appears in 3 contracts

Samples: Security and Purchase Agreement (On the Go Healthcare Inc), Security and Purchase Agreement (On the Go Healthcare Inc), Security and Purchase Agreement (Essential Innovations Technology Corp)

Termination of Lien. The Liens and rights granted to Laurus hereunder and any Ancillary Agreements and the financing statements filed in connection herewith or therewith shall continue in full force and effect, notwithstanding the termination of this Agreement or the fact that any Company’s account may from time to time be temporarily in a zero or credit position, until (a) all of the Obligations of Company have been indefeasibly paid or performed in full after the termination of this Agreement. Laurus shall not be required to send termination statements to any Company, or to file them with any filing office, unless and until this Agreement and the Ancillary Agreements shall have been terminated in accordance with their terms and all Obligations indefeasibly paid in full in immediately available funds.

Appears in 3 contracts

Samples: Security Agreement (Micro Component Technology Inc), Security Agreement (Digital Angel Corp), Security Agreement (Electric City Corp)

Termination of Lien. The Liens and rights granted to Laurus hereunder and any Ancillary Agreements and the financing statements filed in connection herewith or therewith shall continue in full force and effect, notwithstanding the termination of this Agreement or the fact that any Company’s account may from time to time be temporarily in a zero or credit position, until all of the Obligations have been indefeasibly paid or performed in full after and this Agreement has been terminated in accordance with the termination terms of this Agreement. Laurus shall not be required to send termination statements to any Company, or to file them with any filing office, unless and until this Agreement and the Ancillary Agreements shall have been terminated in accordance with their terms and all Obligations indefeasibly paid in full in immediately available funds.

Appears in 3 contracts

Samples: Security Agreement (Spacedev Inc), Security and Purchase Agreement (Jagged Peak, Inc.), Security Agreement (Spacedev Inc)

Termination of Lien. The Liens and rights granted to Laurus hereunder and any Ancillary Agreements and the financing statements filed in connection herewith or therewith shall continue in full force and effect, notwithstanding the termination of this Agreement or the fact that any Company’s account may from time to time be temporarily in a zero or credit position, until all of the Obligations have been paid indefeasibly paid or performed in full after the termination of this Agreement. Laurus shall not be required to send termination statements to any Company, or to file them with any filing office, unless and until this Agreement and the Ancillary Agreements shall have been terminated in accordance with their terms and all Obligations indefeasibly paid in full in immediately available funds.

Appears in 3 contracts

Samples: Security Agreement (Dynamic Health Products Inc), Security Agreement (House of Brussels Chocolates Inc), Security Agreement (Earthfirst Technologies Inc)

Termination of Lien. The Liens and rights granted to Laurus hereunder and any Ancillary Agreements and the financing statements filed in connection herewith or therewith shall continue in full force and effect, notwithstanding the termination of this Agreement or the fact that any Company’s account may from time to time be temporarily in a zero or credit position, until all of the Obligations of Company have been indefeasibly paid or performed in full after the termination of this Agreement. Laurus shall not be required to send termination statements to Company or any CompanyEligible Subsidiary, or to file them with any filing office, unless and until this Agreement and the Ancillary Agreements shall have been terminated in accordance with their terms and all Obligations indefeasibly paid in full in immediately available funds.

Appears in 2 contracts

Samples: Security Agreement (Comc Inc), Security Agreement (Digital Lifestyles Group Inc)

Termination of Lien. The Liens and rights granted to Laurus hereunder and any Ancillary Agreements and the financing statements filed in connection herewith or therewith shall continue in full force and effect, notwithstanding the termination of this Agreement or the fact that any Company’s 's account may from time to time be temporarily in a zero or credit position, until all of the Obligations of Company have been indefeasibly paid or performed in full after the termination of this Agreement. Laurus shall not be required to send termination statements to Company or any CompanyEligible Subsidiary, or to file them with any filing office, unless and until this Agreement and the Ancillary Agreements shall have been terminated in accordance with their terms and all Obligations indefeasibly paid in full in immediately available funds.

Appears in 2 contracts

Samples: Security Agreement (Digital Lifestyles Group Inc), Security Agreement (Bp International Inc)

Termination of Lien. The Liens and rights granted to Laurus hereunder and any Ancillary Agreements and the financing statements filed in connection herewith or therewith shall continue in full force and effect, notwithstanding the termination of this Agreement or the fact that any Company’s 's account may from time to time be temporarily in a zero or credit position, until (a) all of the Obligations of Company have been indefeasibly paid or performed in full after the termination of this Agreement. Laurus shall not be required to send termination statements to Company or any CompanyEligible Subsidiary, or to file them with any filing office, unless and until this Agreement and the Ancillary Agreements shall have been terminated in accordance with their terms and all Obligations indefeasibly paid in full in immediately available funds.

Appears in 2 contracts

Samples: Security Agreement (Greenman Technologies Inc), Security Agreement (Conversion Services International Inc)

Termination of Lien. The Liens and rights granted to Laurus hereunder and any Ancillary Agreements and the financing statements filed in connection herewith or therewith shall continue in full force and effect, notwithstanding the termination of this Agreement or the fact that any Company’s 's account may from time to time be temporarily in a zero or credit position, until all of the Obligations of Company have been indefeasibly paid or performed in full after the termination of this Agreement. Laurus shall not be required to promptly (but in any event within ten (10) Business Days send termination statements to any Company, or to file them with any filing office, unless and until at such time as this Agreement and the Ancillary Agreements shall have been terminated in accordance with their terms and all Obligations indefeasibly paid in full in immediately available funds.

Appears in 1 contract

Samples: Security Agreement (DSL Net Inc)

Termination of Lien. The Liens and rights granted to Laurus hereunder and any Ancillary Agreements and the financing statements filed in connection herewith or therewith shall continue in full force and effect, notwithstanding the termination of this Agreement or the fact that any Company’s account may from time to time be temporarily in a . 07/08/2005 33 zero or credit position, until all of the Obligations have been indefeasibly paid or performed in full after the termination of this Agreement. Laurus shall not be required to send termination statements to any Company, or to file them with any filing office, unless and until this Agreement and the Ancillary Agreements shall have been terminated in accordance with their terms and all Obligations indefeasibly paid in full in immediately available funds.

Appears in 1 contract

Samples: Security and Purchase Agreement (360 Global Wine Co)

Termination of Lien. The Liens and rights granted to Laurus hereunder and any Ancillary Agreements and the financing statements filed in connection herewith or therewith shall continue in full force and effect, notwithstanding the termination of this Agreement or the fact that any Company’s account may from time to time be temporarily in a zero or credit position, until all of the Obligations of Company have been indefeasibly paid or performed in full after the termination of this Agreement. Laurus shall not be required to send termination statements to any Company, or to file them with any filing office, unless and until this Agreement and the Ancillary Agreements shall have been terminated in accordance with their terms and all Obligations indefeasibly paid in full in immediately available funds.

Appears in 1 contract

Samples: And Restated Security Agreement (Gvi Security Solutions Inc)

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Termination of Lien. The Liens and rights granted to Laurus hereunder and any Ancillary Agreements and the financing statements filed in connection herewith or therewith shall continue in full force and effect, notwithstanding the termination of this Agreement or the fact that any Company’s 's account may from time to time be temporarily in a zero or credit position, until all of the Obligations have been indefeasibly paid or performed in full after the termination of this Agreement. Upon reasonable request, Laurus shall not be required to send termination statements to any Company, or to file them with any the appropriate filing office, unless and until office after such time as this Agreement and the Ancillary Agreements shall have been terminated in accordance with their terms and all Obligations indefeasibly paid in full in immediately available funds.

Appears in 1 contract

Samples: Security Agreement (Integrated Security Systems Inc)

Termination of Lien. The Liens and rights granted to Laurus Gryphon hereunder and any Ancillary Agreements and the financing statements filed in connection herewith or therewith shall continue in full force and effect, notwithstanding the termination of this Agreement or the fact that any Company’s 's account may from time to time be temporarily in a zero or credit position, until all of the Obligations have been indefeasibly paid or performed in full after the termination of this Agreement. Laurus Gryphon shall not be required to send termination statements to any Company, or to file them with any filing office, unless and until this Agreement and the Ancillary Agreements shall have been terminated in accordance with their terms and all Obligations indefeasibly paid in full in immediately available funds.

Appears in 1 contract

Samples: Security Agreement (American Technologies Group Inc)

Termination of Lien. The Liens and rights granted to Laurus hereunder and any Ancillary Agreements and the financing statements filed in connection herewith or therewith shall continue in full force and effect, notwithstanding the termination of this Agreement or the fact that any Company’s 's account may from time to time be temporarily in a zero or credit position, until all of the Obligations have been indefeasibly paid or performed Indefeasibly Paid in full after the termination of this Agreement. Laurus shall not be required to send termination statements to any Company, or to file them with any filing office, unless and until this Agreement and the Ancillary Agreements shall have been terminated in accordance with their terms and all Obligations indefeasibly paid in full in immediately available funds.

Appears in 1 contract

Samples: Security and Purchase Agreement (Proxymed Inc /Ft Lauderdale/)

Termination of Lien. The Liens and rights granted to Laurus ------------------- hereunder and any Ancillary Agreements and the financing statements filed in connection herewith or therewith shall continue in full force and effect, notwithstanding the termination of this Agreement or the fact that any Company’s Companies' account may from time to time be temporarily in a zero or credit position, until all of the Obligations of Companies have been indefeasibly paid or performed in full after the termination of this Agreement. Agreement and Laurus shall not be required to send such termination statements to any CompanyCompanies, or to file them with any filing office, unless and until this Agreement and the Ancillary Agreements shall have been terminated in accordance with their terms and all Obligations indefeasibly paid in full in immediately available funds.

Appears in 1 contract

Samples: Security Agreement (Elinear Inc)

Termination of Lien. The Liens and rights granted to Laurus hereunder and any Ancillary Agreements and the financing statements filed in connection herewith or therewith shall continue in full force and effect, notwithstanding the termination of this Agreement or the fact that any Company’s account may from time to time be temporarily in a zero or credit position, until (a) all of the Obligations of Company have been indefeasibly paid or performed in full after the termination of this Agreement. Laurus shall not be required to send termination statements to Company or any CompanyEligible Subsidiary, or to file them with any filing office, unless and until this Agreement and the Ancillary Agreements shall have been terminated in accordance with their terms and all Obligations indefeasibly paid in full in immediately available funds.

Appears in 1 contract

Samples: Security Agreement (Conversion Services International Inc)

Termination of Lien. The Liens and rights granted to Laurus hereunder and any Ancillary Agreements and the financing statements filed in connection herewith or therewith shall continue in full force and effect, notwithstanding the termination of this Agreement or the fact that any Company’s 's account may from time to time be temporarily in a zero or credit position, until all of the Obligations have been indefeasibly paid or performed in full after and this Agreement has been terminated in accordance with the termination terms of this Agreement. Laurus shall not be required to send termination statements to any Company, or to file them with any filing office, unless and until this Agreement and the Ancillary Agreements shall have been terminated in accordance with their terms and all Obligations indefeasibly paid in full in immediately available funds.

Appears in 1 contract

Samples: Security Agreement (Tarpon Industries, Inc.)

Termination of Lien. The Liens and rights granted to Laurus hereunder and any Ancillary Agreements and the financing statements filed in connection herewith or therewith shall continue in full force and effect, notwithstanding the termination of this Agreement or the fact that any Company’s account may from time to time be temporarily in a zero or credit position, until all of the Obligations have been indefeasibly paid in immediately available funds or performed in full after and this Agreement has been terminated in accordance with the termination terms of this Agreement. Laurus shall not be required to send termination statements to any Company, or to file them with any filing office, unless and until this Agreement and the Ancillary Agreements shall have been terminated in accordance with their terms and all Obligations indefeasibly paid in full in immediately available funds.

Appears in 1 contract

Samples: Security Agreement (Kitty Hawk Inc)

Termination of Lien. The Liens and rights granted to Laurus hereunder and any Ancillary Agreements and the financing statements filed in connection herewith or therewith shall continue in full force and effect, notwithstanding the termination of this Agreement or the fact that any the Company’s 's account may from time to time be temporarily in a zero or credit position, until all of the Obligations have been indefeasibly paid or performed in full after the termination of this Agreement. Laurus shall not be required to send termination statements to any the Company, or to file them with any filing office, unless and until this Agreement and the Ancillary Agreements shall have been terminated in accordance with their terms and all Obligations indefeasibly paid in full in immediately available funds.

Appears in 1 contract

Samples: Security and Purchase Agreement (Reliant Home Warranty Corp)

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