Lien Release Conditions definition
Lien Release Conditions means the Discharge of Priority Lien Obligations.
Lien Release Conditions means (a) the Discharge of Priority Lien Obligations and (b) the settlement, abandonment or dismissal with prejudice of the WesternGeco L.L.C. vs. ION Geophysical Corporation litigation.
Lien Release Conditions means Lender’s receipt of each of the following, in form and content satisfactory to Lender: (i) cash payment in full of all Obligations and completed performance by Obligors with respect to their obligations under this Agreement and the other Loan Documents, (ii) evidence that the Line of Credit has been terminated, (iii) a general release by Obligors of all claims against Lender and its Affiliates relating to the Line of Credit and Lender’s performance and obligations under the Loan Documents, and (iv) an agreement by each Obligor and any new lender to Borrower to indemnify Lender and its Affiliates for any payments received by Lender or its Affiliates that are applied to the Obligations as a final payoff that may later be returned or otherwise not paid for any reason.
Examples of Lien Release Conditions in a sentence
Upon satisfaction of the Lien Release Conditions, Lender will, at Borrower's expense, release or terminate any filings or other agreements that perfect the Liens granted to Lender under the Loan Documents in the Collateral.
Provided that there are no suits, actions, proceedings or claims pending or threatened against any Person who Borrower has agreed to indemnify under this Agreement, Lender will, at Borrower’s expense, release or terminate any filings or other agreements that perfect the Liens granted to Lender under the Loan Documents in the Collateral upon satisfaction, as reasonably determined by Lender, of the Lien Release Conditions.
More Definitions of Lien Release Conditions
Lien Release Conditions means Lender's receipt of each of the following, in form and content satisfactory to Lender: (a) cash payment in full of all Obligations; (b) evidence that the Line of Credit has been terminated; and (c) a general release by Obligors of all claims against Lender and its Affiliates relating to the Line of Credit and Lender's performance and obligations under the Loan Documents (other than with respect to obligations pertaining to any continuing cash management arrangements).