UCC-3 Termination Statement definition
Examples of UCC-3 Termination Statement in a sentence
Agent agrees to approve and effectuate such Release Request within three (3) Business Days after Agent’s receipt thereof and authorize the filing of the UCC-3 Termination Statement with respect to the specific Collateral being transferred so long as such transfer is consummated pursuant to a Permitted Facility entered into in accordance with Section 8.18(a).
When all the Indebtedness has been paid in full and discharged, this Agreement and the security interest granted to the Collateral Agent hereunder will terminate and a UCC-3 Termination Statement shall be filed by Collateral Agent to indicate the termination of the security interest created hereby.
The Company shall provide a UCC-3 Termination Statement or other evidence reasonably satisfactory to Parent that the liens on the Company’s assets in favor of The Royal Bank of Canada have been released.
Lessor hereby covenants that at the closing of any Bank Debt Facility which is to be secured by a first priority lien on the Collateral, it shall deliver to the Lessee a fully executed termination statement on Form UCC-3 ("Termination Statement") in a form satisfactory to the Lessee, which Termination Statement shall serve as a notice of Lessor's termination of it's security interest in the Collateral.
Upon the indefeasible payment in full in cash of all Obligations under this Agreement and the termination of any obligation of any Lender to make Credit Extensions hereunder, Lenders shall execute and deliver to Borrower, at Borrower’s sole cost and expense, all documents and instruments as shall be reasonably necessary to evidence termination of the security interest in the Collateral created hereunder, including a UCC-3 Termination Statement.
When all the Indebtedness has been paid in full and discharged, this Agreement and the security interest granted to the Secured Party hereunder will terminate and a UCC-3 Termination Statement shall be filed by Secured Party to indicate the termination of the security interest created hereby.
When all the Indebtedness has been paid in full and discharged, this Agreement and the security interest granted to the Collateral Agent for the benefit of the Secured Parties hereunder will terminate and a UCC-3 Termination Statement shall be filed by the Collateral Agent indicate the termination of the security interest created hereby.
Concurrently with the execution of this Agreement and upon receipt of the consideration specified in Sections 1 and 2, Eagle has released any and all security interests, liens or other encumbrances which it may have by (i) filing (or allowing to be filed on its behalf) a UCC-3 Termination Statement with the Arizona Secretary of State and a UCC-3 Termination Statement with the Maricopa County Recorder's Office in the form attached hereto as Exhibit B, and (ii) delivering the Stock Certificates to ATC.
Seller agrees to terminate its security interest by filing a UCC-3 Termination Statement in each jurisdiction where a UCC-1 Financing Statement was filed as provided herein one year from the Closing Date.
The Company and the Stockholders shall have prepared for filing and shall deliver at Closing a UCC-3 Termination Statement executed by the Bank, evidencing that all amounts due under the Factoring Agreement have been fully paid.