Common use of Termination; Release Clause in Contracts

Termination; Release. The Pledged Collateral shall be released from the Lien of this Agreement in accordance with the provisions of the Credit Agreement. Upon termination hereof or any release of Pledged Collateral in accordance with the provisions of the Credit Agreement, the Collateral Agent shall, upon the request and at the sole cost and expense of the Pledgors, assign, transfer and deliver to Pledgor, against receipt and without recourse to or warranty by the Collateral Agent except as to the fact that the Collateral Agent has not encumbered the released assets, such of the Pledged Collateral to be released (in the case of a release) as may be in possession of the Collateral Agent and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Pledged Collateral, proper documents and instruments (including UCC-3 termination statements or releases) acknowledging the termination hereof or the release of such Pledged Collateral, as the case may be.

Appears in 9 contracts

Samples: Credit Agreement (Magnachip Semiconductor LLC), Credit Agreement (General Cable Corp /De/), Pledge Agreement (Adesa Inc)

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Termination; Release. The Pledged Collateral shall be released from the Lien of this Agreement in accordance with the provisions of the Credit Agreement. Upon termination hereof or any release of Pledged Collateral in accordance with the provisions of the Credit Agreement, the Collateral Administrative Agent shall, upon the request and at the sole cost and expense of the Pledgors, assign, transfer and deliver to Pledgor, against receipt and without recourse to or warranty by the Collateral Administrative Agent except as to the fact that the Collateral Administrative Agent has not encumbered the released assets, such of the Pledged Collateral to be released (in the case of a release) as may be in possession of the Collateral Administrative Agent and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Pledged Collateral, proper documents and instruments (including UCC-3 termination statements or releases) acknowledging the termination hereof or the release of such Pledged Collateral, as the case may be.

Appears in 8 contracts

Samples: Control Agreement (Lenox Group Inc), Control Agreement (Department 56 Inc), Control Agreement (Bearingpoint Inc)

Termination; Release. The When all the Secured Obligations have been paid in full (other than contingent liabilities not then due and payable), this Agreement shall terminate. Upon termination of this Agreement the Pledged Collateral shall be released from the Lien of this Agreement in accordance with the provisions of the Credit Agreement. Upon termination hereof such release or any release of Pledged Collateral or any part thereof in accordance with the provisions of the Credit Agreement, the Collateral Administrative Agent shall, upon the request and at the sole cost and expense of the Pledgors, assign, transfer and deliver to Pledgor, against receipt and without recourse to or warranty by the Collateral Agent except as to the fact that the Collateral Agent has not encumbered the released assetsAdministrative Agent, such of the Pledged Collateral or any part thereof to be released (in the case of a release) as may be in possession of the Collateral Administrative Agent and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Pledged Collateral, proper documents and instruments (including UCC-3 termination statements or releases) acknowledging the termination hereof or the release of such Pledged Collateral, as the case may be.

Appears in 4 contracts

Samples: First Lien Security Agreement, Security Agreement (Fiesta Restaurant Group, Inc.), First Lien Security Agreement (Carrols Restaurant Group, Inc.)

Termination; Release. The Pledged Collateral When all the Secured Obligations have been paid in full and the Commitments of the Lenders to make any Loan or to issue any Letter of Credit under the Credit Agreement shall be released from the Lien of have expired or been sooner terminated, this Agreement in accordance with the provisions of the Credit Agreementshall terminate. Upon termination hereof or any release of Pledged Collateral in accordance with the provisions of the Credit Agreement, the Collateral Agent shall, upon the request and at the sole cost and expense of the Pledgors, forthwith assign, transfer and deliver to Pledgor, against receipt and without recourse to or warranty by the Collateral Agent except as to the fact that the Collateral Agent has not encumbered the released assetsAgent, such of the Pledged Collateral to be released (in the case of a release) as may be in possession of the Collateral Agent and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Pledged Collateral, proper documents and instruments (including UCC-3 termination statements or releases) acknowledging the termination hereof or the release of such Pledged Collateral, as the case may be.

Appears in 4 contracts

Samples: And Restated Security Agreement (Actuant Corp), Credit Agreement (Sola International Inc), Landlord Access Agreement (Sola International Inc)

Termination; Release. The Pledged Collateral shall be released from the Lien of this Agreement in accordance with the provisions of the Credit Second Lien Term Loan Agreement. Upon termination hereof or any release of Pledged Collateral in accordance with the provisions of the Credit Second Lien Term Loan Agreement, the Collateral Administrative Agent shall, upon the request and at the sole cost and expense of the Pledgors, assign, transfer and deliver to Pledgor, against receipt and without recourse to or warranty by the Collateral Administrative Agent except as to the fact that the Collateral Administrative Agent has not encumbered the released assets, such of the Pledged Collateral to be released (in the case of a release) as may be in possession of the Collateral Administrative Agent and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Pledged Collateral, proper documents and instruments (including UCC-3 termination statements or releases) acknowledging the termination hereof or the release of such Pledged Collateral, as the case may be.

Appears in 3 contracts

Samples: Security Agreement (Quest Resource Corp), Security Agreement (Quest Resource Corp), Security Agreement (Quest Resource Corp)

Termination; Release. The Pledged Security Agreement Collateral shall be released from the Lien of this Agreement in accordance with the provisions Section 6.04 of the Credit Agreement. Upon termination hereof or any release of Pledged Security Agreement Collateral in accordance with the provisions Section 6.04 of the Credit Agreement, the Collateral Agent shall, upon the request and at the sole cost and expense of the Pledgors, assign, transfer and deliver to Pledgor, against receipt and without recourse to or warranty by the Collateral Agent except as to the fact that the Collateral Agent has not encumbered the released assets, such of the Pledged Security Agreement Collateral to be released (in the case of a release) as may be in possession of the Collateral Agent and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Pledged Security Agreement Collateral, proper documents and instruments (including UCC-3 termination statements or releases) acknowledging the termination hereof or the release of such Pledged Security Agreement Collateral, as the case may be.

Appears in 3 contracts

Samples: Credit Agreement (Cpi International, Inc.), Credit Agreement (Cpi International, Inc.), Security Agreement (Communications & Power Industries Inc)

Termination; Release. The Pledged Collateral shall be released from the Lien of this Agreement in accordance with the provisions of the Credit Agreement. Upon termination hereof or any release of Pledged Collateral in accordance with the provisions of the Credit Agreement, the Collateral Administrative Agent shallshall promptly, upon the request and at the sole cost and expense of the Pledgors, assign, transfer and deliver to Pledgor, against receipt and without recourse to or warranty by the Collateral Administrative Agent except as to the fact that the Collateral Administrative Agent has not encumbered the released assets, such of the Pledged Collateral to be released (in the case of a release) as may be in possession of the Collateral Administrative Agent and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Pledged Collateral, proper documents and instruments (including UCC-3 termination statements or releases) acknowledging the termination hereof or the release of such Pledged Collateral, as the case may be.

Appears in 3 contracts

Samples: Security Agreement (Atlantic Broadband Management, LLC), Security Agreement (Language Line Holdings, Inc.), Security Agreement (Language Line Costa Rica, LLC)

Termination; Release. (a) The Pledged Collateral shall be released from the Lien of this Agreement in accordance with the provisions of the Credit AgreementIndenture. Upon termination hereof or any release of Pledged Collateral in accordance with the provisions of the Credit AgreementIndenture, the Collateral Agent Trustee shall, upon the request and at the sole cost and expense of the Pledgors, assign, transfer and deliver to Pledgor, against receipt and without recourse to or warranty by the Collateral Agent Trustee except as to the fact that the Collateral Agent Trustee has not encumbered the released assets, such of the Pledged Collateral to be released (in the case of a release) as may be in possession of the Collateral Agent Trustee and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Pledged Collateral, proper documents and instruments (including UCC-3 UCC 3 termination statements or releases) provided to it acknowledging the termination hereof or the release of such Pledged Collateral, as the case may be.; and

Appears in 3 contracts

Samples: Pledge Agreement (Intcomex, Inc.), Pledge Agreement (Intcomex Holdings, LLC), Security Agreement (Intcomex Holdings, LLC)

Termination; Release. The Pledged Collateral shall be released from the Lien of this Agreement in accordance with the provisions of the Credit Agreement. Upon termination hereof or any release of Pledged Collateral in accordance with the provisions of the Credit Agreement, the Collateral Agent shall, upon the request and at the sole cost and expense of the Pledgors, promptly assign, transfer and deliver to Pledgor, against receipt and without recourse to or warranty by the Collateral Agent except as to the fact that the Collateral Agent has not encumbered the released assets, such of the Pledged Collateral to be released (in the case of a release) as may be in possession of the Collateral Agent and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Pledged Collateral, proper documents and instruments (including UCC-3 termination statements or releases) acknowledging the termination hereof or the release of such Pledged Collateral, as the case may be.

Appears in 2 contracts

Samples: Security Agreement (Norcraft Companies Lp), Security Agreement (Norcraft Companies Lp)

Termination; Release. The Pledged Collateral shall be released from the Lien of this Agreement in accordance with the provisions of the Credit Agreement. Upon termination hereof or any release of Pledged Collateral in accordance with the provisions of the Credit Agreement, the Collateral Agent shall, upon the request and at the sole cost and expense of the PledgorsPledgor, promptly assign, transfer and deliver to the Pledgor, against receipt and without recourse to or warranty by the Collateral Agent except as to the fact that the Collateral Agent has not encumbered the released assets, such of the Pledged Collateral to be released (in the case of a release) as may be in possession of the Collateral Agent and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Pledged Collateral, proper documents and instruments (including UCC-3 termination PPSA termination, discharge, or financing change statements or releases) acknowledging the termination hereof or the release of such Pledged Collateral, as the case may be.

Appears in 2 contracts

Samples: Canadian Security Agreement (Norcraft Companies Lp), Canadian Security Agreement (Norcraft Companies Lp)

Termination; Release. The Pledged Collateral When all of the Secured Obligations have been satisfied, performed in full, and released, this Agreement shall be released from the Lien terminate. Upon termination of this Agreement in accordance with the provisions of the Credit Agreement. Upon termination hereof or any release of Pledged Collateral in accordance with the provisions of the Credit AgreementDefeasance Documents, the Collateral Agent shall, Pledgee shall upon the request and at the sole cost and expense of the Pledgors, Pledgor forthwith assign, transfer and deliver deliver, and shall direct Intermediary, to Pledgorassign, transfer and deliver, to Pledgor against receipt and without express or implied recourse to or warranty by the Collateral Agent except as to the fact that the Collateral Agent has not encumbered the released assets, Pledgee (i) such of the Pledged Collateral to be released (in the case of a release) as may be in possession of the Collateral Agent Pledgee or Intermediary and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Pledged Collateral, and (ii) proper documents and instruments (including UCC-3 UCC termination statements or releasesstatements) acknowledging the termination hereof of this Agreement or the release of such Pledged Collateral, as the case may be.

Appears in 2 contracts

Samples: Defeasance Pledge and Security Agreement (Winston Hotels Inc), Defeasance Pledge and Security Agreement (First Potomac Realty Trust)

Termination; Release. The Pledged Collateral shall be released from the Lien of this Agreement in accordance with the provisions of the Credit Third Lien Term Loan Agreement. Upon termination hereof or any release of Pledged Collateral in accordance with the provisions of the Credit Third Lien Term Loan Agreement, the Collateral Administrative Agent shall, upon the request and at the sole cost and expense of the Pledgors, assign, transfer and deliver to Pledgor, against receipt and without recourse to or warranty by the Collateral Administrative Agent except as to the fact that the Collateral Administrative Agent has not encumbered the released assets, such of the Pledged Collateral to be released (in the case of a release) as may be in possession of the Collateral Administrative Agent and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Pledged Collateral, proper documents and instruments (including UCC-3 termination statements or releases) acknowledging the termination hereof or the release of such Pledged Collateral, as the case may be.

Appears in 2 contracts

Samples: Security Agreement (Quest Resource Corp), Security Agreement (Quest Resource Corp)

Termination; Release. The Pledged Collateral shall be released from the Lien of this Agreement in accordance with the provisions of the Credit Priority Intercreditor Agreement. Upon termination hereof or any release of Pledged Collateral in accordance with the provisions of the Credit Priority Intercreditor Agreement, the Collateral Agent shall, upon the request and at the sole cost and expense of the Pledgors, assign, transfer and deliver to Pledgor, against receipt and without recourse to or warranty by the Collateral Agent except as to the fact that the Collateral Agent has not encumbered the released assetsAgent, such of the Pledged Collateral to be released (in the case of a release) as may be in possession of the Collateral Agent and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Pledged Collateral, proper documents and instruments (including UCC-3 termination statements or releases) acknowledging the termination hereof or the release of such Pledged Collateral, as the case may be.

Appears in 1 contract

Samples: Security Agreement (Trump Indiana Inc)

Termination; Release. The Pledged Collateral When all of the Secured Obligations have been satisfied, performed in full, and released, this Agreement shall be released from the Lien terminate. Upon termination of this Agreement in accordance with the provisions of the Credit Agreement. Upon termination hereof or any release of Pledged Collateral in accordance with the provisions of the Credit AgreementDefeasance Documents, the Collateral Agent shall, Pledgee shall upon the request and at the sole cost and expense of the Pledgors, Pledgor forthwith assign, transfer and deliver deliver, and shall direct Intermediary, to assign, transfer and deliver, to Pledgor, or if applicable, Successor Borrower, against receipt and without express or implied recourse to or warranty by the Collateral Agent except as to the fact that the Collateral Agent has not encumbered the released assets, Pledgee (i) such of the Pledged Collateral to be released (in the case of a release) as may be in possession of the Collateral Agent Pledgee or Intermediary and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Pledged Collateral, and (ii) proper documents and instruments (including UCC-3 Code termination statements or releasesstatements) acknowledging the termination hereof of this Agreement or the release of such Pledged Collateral, as the case may be.

Appears in 1 contract

Samples: Defeasance Pledge and Security Agreement (Casa Munras Hotel Partners L P)

Termination; Release. The Pledged Upon the occurrence of the Termination Date, this Agreement shall terminate. Upon termination of this Agreement the Collateral shall be released from the Lien of this Agreement in accordance with the provisions of the Credit Agreement. Upon termination hereof such release or any release of Pledged Collateral or any part thereof in accordance with the provisions of the Credit Agreement, the Collateral Agent shall, upon the request and at the sole cost and reasonable expense of the Pledgors, assign, transfer and deliver to Pledgor, against receipt and without recourse to or warranty by the Collateral Agent except as to the fact that the Collateral Agent has not encumbered the released assets, such of the Pledged Collateral or any part thereof to be released (in the case of a release) as may be in possession of the Collateral Agent and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Pledged Collateral, proper documents and instruments (including UCC-3 termination statements or releases) acknowledging the termination hereof or the release of such Pledged Collateral, as the case may be.

Appears in 1 contract

Samples: Security Agreement (Schulman a Inc)

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Termination; Release. The Pledged Collateral shall be released from the Lien of this Agreement in accordance with the provisions of the Credit AgreementLoan Documents. Upon termination hereof or any release of Pledged Collateral in accordance with the provisions of the Credit AgreementLoan Documents, the Collateral Agent Trustee shall, subject to the Collateral Trust Agreement, upon the request and at the sole cost and expense of the Pledgors, assign, transfer and deliver to Pledgor, against receipt and without recourse to or warranty by the Collateral Agent Trustee except as to the fact that the Collateral Agent Trustee has not encumbered the released assets, such of the Pledged Collateral to be released (in the case of a release) as may be in possession of the Collateral Agent Trustee and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Pledged Collateral, proper documents and instruments (including UCC-3 termination statements or releases) acknowledging the termination hereof or the release of such Pledged Collateral, as the case may be.

Appears in 1 contract

Samples: Pledge and Security Agreement (Builders FirstSource, Inc.)

Termination; Release. The Pledged Collateral shall be released from the Lien Liens of this Agreement in accordance with the provisions of the Credit AgreementPurchase Agreements. Upon termination hereof or any release of Pledged Collateral in accordance with the provisions of the Credit AgreementPurchase Agreements, the Collateral Agent shall, upon the request and at the sole cost and expense of the PledgorsCompany, assign, transfer and deliver to PledgorCompany, against receipt and without recourse to or warranty by the Collateral Agent except as to the fact that the Collateral Agent has not encumbered the released assetsAgent, such of the Pledged Collateral to be released (in the case of a release) as may be in possession of the Collateral Agent and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Pledged Collateral, proper documents and instruments (including UCC-3 termination statements or releases) acknowledging the termination hereof or the release of such Pledged Collateral, as the case may be.

Appears in 1 contract

Samples: Security Agreement (Women First Healthcare Inc)

Termination; Release. The Pledged Collateral -------------------- shall be released from the Lien of this Agreement and the applicable Subsidiary Guarantor shall be relieved of its obligations under this Agreement in accordance with the provisions of the Credit AgreementIndenture. Upon termination hereof or any release of Pledged Collateral in accordance with the provisions of the Credit AgreementIndenture, the Collateral Agent Trustee shall, upon the request and at the sole cost and expense of the Pledgors, assign, transfer and deliver to Pledgor, against receipt and without recourse to or warranty by the Collateral Agent except as to the fact that the Collateral Agent has not encumbered the released assetsTrustee, such of the Pledged Collateral to be released (in the case of a release) as may be in possession of the Collateral Agent Trustee and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Pledged Collateral, proper documents and instruments (including UCC-3 termination statements or releases) acknowledging the termination hereof or the release of such Pledged Collateral, as the case may be.

Appears in 1 contract

Samples: Security Agreement (Raceland Truck Plaza & Casino LLC)

Termination; Release. The Pledged Collateral shall be released from the Lien of this Agreement in accordance with the provisions Section 6.4.11(g) of the Credit Agreement. Upon termination hereof or any release of Pledged Collateral in accordance with the provisions of the Credit Agreement, the Collateral Agent shall, upon the request and at the sole cost and expense of the Pledgors, assign, transfer and deliver to Pledgor, against receipt and without recourse to or warranty by the Collateral Agent except as to the fact that the Collateral Agent has not encumbered the released assetsAgent, such of the Pledged Collateral to be released (in the case of a release) as may be in possession of the Collateral Agent and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Pledged Collateral, proper documents and instruments (including UCC-3 termination statements or releases) acknowledging the termination hereof or the release of such Pledged Collateral, as the case may be.

Appears in 1 contract

Samples: Inventory and Accounts Security Agreement (Transmontaigne Inc)

Termination; Release. (a) The Pledged Collateral shall be released from the Lien of this Agreement in accordance with the provisions of the Credit AgreementIndenture. Upon termination hereof or any release of Pledged Collateral in accordance with the provisions of the Credit AgreementIndenture, the Collateral Agent Trustee shall, upon the request and at the sole cost and expense of the Pledgors, assign, transfer and deliver to Pledgor, against receipt and without recourse to or warranty by the Collateral Agent Trustee except as to the fact that the Collateral Agent Trustee has not encumbered the released assets, such of the Pledged Collateral to be released (in the case of a release) as may be in possession of the Collateral Agent Trustee and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Pledged Collateral, proper documents and instruments (including UCC-3 termination statements or releases) acknowledging the termination hereof or the release of such Pledged Collateral, as the case may be.; and

Appears in 1 contract

Samples: Security Agreement (Us Lec Corp)

Termination; Release. The Pledged Collateral shall be released from the Lien of created by this Agreement in accordance with on the provisions of the Credit AgreementTermination Date. Upon termination hereof or any release of Pledged Collateral in accordance with the provisions of the Credit Agreement, the Collateral Agent shall, upon the request and at the sole cost and expense of the Pledgors, assign, transfer and deliver to Pledgorthe Pledgors, against receipt and without recourse to or warranty by the Collateral Agent except as to the fact that the Collateral Agent has not encumbered the released assets, such of the Pledged Collateral to be released (in the case of a release) as may be in possession of the Collateral Agent and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Pledged Collateral, proper documents and instruments (including UCC-3 termination statements or releases) acknowledging the termination hereof or the release of such Pledged Collateral, as the case may be.

Appears in 1 contract

Samples: Security Agreement (International Coal Group, Inc.)

Termination; Release. The Pledged Collateral shall be released from the Lien of this Agreement in accordance with the provisions of the Credit Agreement. Upon termination hereof or any release of Pledged Collateral in accordance with the provisions of the Credit Agreement, the Collateral Agent shall, upon the request and at the sole cost and expense of the Pledgors, assign, transfer and deliver to Pledgor, against receipt and without recourse to or warranty by the Collateral Agent except as to the fact that the Collateral Agent has not encumbered the released assets, such of the Pledged Collateral to be released (in the case of a release) as may be in possession of the Collateral Agent and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Pledged Collateral, -33- proper documents and instruments (including UCC-3 termination statements or releases) acknowledging the termination hereof or the release of such Pledged Collateral, as the case may be.

Appears in 1 contract

Samples: Security Agreement (Atrium Companies Inc)

Termination; Release. The Pledged Collateral When all of the Secured Obligations have been satisfied, performed in full, and released, this Agreement shall be released from the Lien terminate. Upon termination of this Agreement in accordance with the provisions of the Credit Agreement. Upon termination hereof or any release of Pledged Collateral in accordance with the provisions of the Credit AgreementDefeasance Documents, the Collateral Agent shall, Lender shall upon the request and at the sole cost and expense of the Pledgors, Successor Borrower forthwith assign, transfer and deliver deliver, and shall direct Intermediary, to Pledgorassign, transfer and deliver, to Successor Borrower against receipt and without express or implied recourse to or warranty by the Collateral Agent except as to the fact that the Collateral Agent has not encumbered the released assets, Lender (a) such of the Pledged Collateral to be released (in the case of a release) as may be in possession of the Collateral Agent Lender or Intermediary and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Pledged Collateral, and (b) proper documents and instruments (including UCC-3 UCC termination statements or releasesstatements) acknowledging the termination hereof of this Agreement or the release of such Pledged Collateral, as the case may be.

Appears in 1 contract

Samples: Pledge and Security Agreement (Ionis Pharmaceuticals Inc)

Termination; Release. Section 11.5 The Pledged Collateral shall be released from the Lien of this Agreement in accordance with the provisions of the Credit Agreement. Upon termination hereof or any release of Pledged Collateral in accordance with the provisions of the Credit Agreement, the Collateral Administrative Agent shall, upon the request and at the sole cost and expense of the Pledgors, assign, transfer and deliver to Pledgor, against receipt and without recourse to or warranty by the Collateral Administrative Agent except as to the fact that the Collateral Administrative Agent has not encumbered the released assets, such of the Pledged Collateral to be released (in the case of a release) as may be in possession of the Collateral Administrative Agent and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Pledged Collateral, proper documents and instruments (including UCC-3 termination statements or releases) acknowledging the termination hereof or the release of such Pledged Collateral, as the case may be.

Appears in 1 contract

Samples: Control Agreement (Bearingpoint Inc)

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