Lien Termination Sample Clauses

Lien Termination. BMS’ security interest in the Ambrx Collateral shall automatically terminate upon the first to occur of the following: (i) termination of this Agreement or (ii) the end of the second consecutive fiscal year during which Ambrx and its Affiliates have recorded positive combined commercial operating profits based upon recurring sources of revenue. BMS appoints Ambrx as its attorney in fact solely to record the release and termination of such security interest in accordance with this Agreement, and authorizes Ambrx to make such recordation. BMS’ foregoing appointment as attorney in fact, coupled with an interest, is irrevocable. BMS shall promptly sign all documents reasonably necessary or useful to document that BMS no longer has any security interest in the Ambrx Collateral, shall cooperate with Ambrx to record the release and termination of such security interests, and shall reimburse Ambrx for all expenses incurred by Ambrx in connection with this Section 7.9(g).
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Lien Termination. On or prior to the Closing Date, all Liens (other than Permitted Liens) on the Company’s assets shall have been terminated.
Lien Termination. The Administrative Agent shall have received appropriate UCC and other termination statements, mortgage releases and such other documentation as shall be necessary to terminate, release or assign to the Administrative Agent all Liens encumbering any of the assets of the Credit Parties, other than Permitted Liens, in each case, in proper form for filing, registration or recordation in the appropriate jurisdictions.
Lien Termination. In recognition of Amerisource's right to have its legal fees and other expenses incurred in connection with this Agreement secured by the Collateral, notwithstanding satisfaction in full of all other Obligations by Client, Amerisource shall not be required to record any terminations or satisfactions of any of Amerisource's liens or security interests on the Collateral unless and until Client has executed and delivered to Amerisource a general indemnity and mutual release in a form acceptable to Amerisource. Client understands that this provision constitutes a waiver of its rights under §9-513 of the UCC.
Lien Termination. In recognition of Lender’s right to have all of its attorneys’ fees and other expenses incurred in connection with this Agreement secured by the Collateral, notwithstanding the payment in full of the Obligations, Lender shall not be required to execute or record any terminations or satisfactions of any of its liens on the Collateral unless and until Borrower (and all Guarantors) have executed and delivered to Lender general releases of all claims, in form and substance satisfactory to Lender in Lender’s sole discretion.
Lien Termination. In recognition of Agent's and each Lender's right to have all attorneys' fees and other expenses incurred in connection with this Agreement secured by the Collateral, notwithstanding the payment in full of the Obligations, Agent shall not be required to record any terminations or satisfactions of any of its liens on the Collateral unless and until Borrower and any other Loan Party (to the extent required by Agent) have executed and delivered to Agent general releases of all claims against Agent, each Lender and the Lenders' Affiliates, in form and substance satisfactory to Agent. Signature Page to Loan and Security Agreement BORROWER: USA DETERGENTS, INC., a Delaware corporation; BIG CLOUD POWDER CORPORATION, a Delaware corporation; CHICAGO MANAGEMENT POWDER CORP., a Delaware corporation CHICAGO CONTRACT POWDER CORPORATION, an Illinois corporation By /s/ Uri Evan ------------------------------- Uri Evan, President and Chief Executive Officer of, and intending to legally bind, each of the above corporations. [Notary certification for Borrower attached] AGENT: FINOVA CAPITAL CORPORATION, a Delaware corporation By /s/ Xxxxx X. Xxxxxx ------------------------------- Vice President LENDERS: FINOVA CAPITAL CORPORATION, a Delaware corporation By /s/ Xxxxx X. Xxxxxx -------------------------------- Vice President Notice Address: 0000 Xxxxx Xxxxxx--Xxxxx 000 Xxxx xx Xxxxxxx, XX 000000 Attn: Xx. Xxxxxxx Xxxxx Tel. No.: (000) 000-0000 Fax No.: (000) 000-0000 with a copy to: FINOVA Capital Corporation Attn: Group Counsel - Corporate Finance 0000 Xxxxx Xxxxxxx Xxxxxx Xxxx Xxxxxxx 0000 Xxxxxxx, Xxxxxxx 00000-0000 Fax No.: (000) 000-0000 COMMITMENT REVOLVING CREDIT LOANS: $16,494,845 TERM LOAN A LOAN: $ 2,639,175 TERM LOAN B LOAN: $ 865,979 TOTAL DOLLAR COMMITMENT: $20,000,000 COMMITMENT PERCENTAGE: 41.24% TAX I.D. NO. _______________________________ Foothill Signature Page to Loan and Security Agreement Foothill Capital Corporation By /s/ Unintelligible --------------------------------- Vice President Notice Address: 00000 Xxxxx Xxxxxx Xxxxxxxxx Suite 1500 Los Angeles, CA 90025-3333 Attn: Lalaine Pechayco Tel. No.: (000) 000-0000 Fax No.: (000) 000-0000 with a copy to: Xxxxxx Xxxxxx, Esq. Buchalter, Nemer, Fields & Younger 000 X. Xxxxxxxx Street Suite 2400 Los Angeles, California 90017 Tel. No.: (000) 000-0000 Fax No.: (000) 000-0000 COMMITMENT REVOLVING CREDIT LOANS: $ 9,072,165 TERM LOAN A LOAN: $ 1,451,546 TERM LOAN B LOAN: $ 476,289 TOTAL DOLLAR COMMITMENT: $ 11,000...
Lien Termination. All Liens covering the Acquired Systems ---------------- shall have been terminated.
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Lien Termination. BMS’ security interest in the Alder Collateral shall automatically terminate upon the first to occur of the following: (i) termination of this Agreement or (ii) the [***] during which Alder and its Affiliates have recorded [***]. Upon such termination of BMS’ security interest, BMS shall promptly sign all documents reasonably necessary or useful to document that BMS no longer has any security interest in the Alder Collateral, shall cooperate with AlderHoldings to record the release and termination of such security interests, and shall reimburse AlderHoldings for all expenses incurred by Alder in connection with this Section 7.3(g). In the event BMS fails to sign and record such release and termination, BMS appoints AlderHoldings its attorney in fact to sign and record such release and termination and authorizes AlderHoldings to sign and record such release and termination. Alder’s foregoing appointment as BMS’ attorney in fact, coupled with an interest, is irrevocable.
Lien Termination. In recognition of DLL’s right to have all of its attorneys’ fees and other expenses incurred in connection with this Agreement secured by the Collateral, notwithstanding the payment in full of the Obligations, DLL shall not be required to execute or record any terminations or satisfactions of any of its liens on the Collateral unless and until Borrower and all Guarantors (if any) have executed and delivered to DLL general releases of all claims, in form and substance satisfactory to DLL in its sole discretion.
Lien Termination. In recognition of FINOVA's right to have all of its attorneys' fees and other expenses incurred in connection with this Agreement secured by the Collateral, notwithstanding the payment in full of the Obligations, FINOVA shall not be required to record any terminations or satisfactions of any of its liens on the Collateral unless and until Borrower and any other Loan Party (to the extent required by FINOVA) have executed and delivered to FINOVA general releases of all claims, in form and substance satisfactory to FINOVA
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