Lien Release Letters definition

Lien Release Letters shall have the meaning set forth in Section 6.5 hereof;
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Lien Release Letters means one or more release letters or termination statements or customary release documentation in the applicable jurisdiction with respect to obligations under the Prepetition Credit Agreements with respect to which a Lien is granted on the Transferred Assets or the Business, in form and substance reasonably satisfactory to Buyer, which letters and other instruments provide that all obligations of the Business in respect of such obligations (including any guaranty thereof), and all Liens on the Transferred Assets or any asset of the Business securing such obligations, in each case, shall be released and terminated effective concurrently with the Closing with no Liability to Buyer or any of its Affiliates, unless, in each case above, such release has been included in the Sale Order.
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Lien Release Letters means one or more release letters or termination statements or customary release documentation in the applicable jurisdiction with respect to the Encumbrances set forth on Schedule 1.01 on the Purchased Assets, in form and substance
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Examples of Lien Release Letters in a sentence

  • The Company shall have delivered to Buyer the Lien Release Letters, and such Lien Release Letters shall be reasonably satisfactory in form and substance to Buyer and shall be in full force and effect on the Closing Date.

  • Company shall have delivered to Buyer the Lien Release Letters, and such Lien Release Letters shall be reasonably satisfactory in form and substance to Buyer and shall be in full force and effect on the Closing Date, including without limitation, a Lien Release Letter from Cool ▇▇▇▇.

  • Licenses to Intellectual Property Rights entered into in the Ordinary Course by Seller, (f) Liens arising by operation of Law on insurance policies and proceeds thereof to secure premiums thereunder, or (g) Liens on any Acquired Asset in existence as of the date of this Agreement that will be terminated and released upon consummation of the Transactions in accordance with the Lien Release Letters.


More Definitions of Lien Release Letters

Lien Release Letters has the meaning set forth in Section 4.20.
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Lien Release Letters means one or more release letters or termination statements or customary release documentation in the applicable jurisdiction with respect to the Encumbrances set forth on Schedule 1.01 on the Purchased Assets, in form and substance reasonably satisfactory to Buyer, which letters and other instruments provide that all such Encumbrances set forth on Schedule 1.01 on the Purchased Assets shall be released and terminated effective concurrently with the Closing with no Liability to Buyer or any of its Affiliates, unless, in each case above, such release has been included in the Sale Order.
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