Release of Excess Collateral. If on any Business Day the Collateral Agent determines that the aggregate Pledge Value of the Pledgor's Eligible Collateral exceeds the Pledge Value Requirement and no Event of Default or failure by the Pledgor to meet any of its obligations under Sections 5 or 6 hereof has occurred and is continuing, the Pledgor may obtain the release from the Lien hereof of any Collateral having an aggregate Pledge Value on such Business Day less than or equal to such excess, upon delivery to the Collateral Agent of a written notice from an Authorized Representative of the Pledgor indicating the items of Collateral to be released. Such Collateral shall be released only after the Collateral Agent shall have determined that the aggregate Pledge Value of all of the Collateral remaining after such release as determined on such Business Day is at least equal to the Pledge Value Requirement.
Release of Excess Collateral. On any day on which the Borrowing Base exceeds the aggregate outstanding principal amount of the Loans, so long as no Default or Event of Default has occurred and is continuing:
Release of Excess Collateral. (i) Upon the written request of the Borrower (and prior written confirmation to the Collateral Agent from the Payment Agent specifying the amount of Excess Collateral that exists in the XX Xxxx Collateral Account), the LC Collateral Agent agrees to instruct the LC Depositary Bank to release to, or to the order of, the Borrower any interest income earned on deposits in the XX Xxxx Collateral Account; provided, that such interest income shall be released no more frequently than monthly on or after the last Business Day on which the Borrower is required to pay Letter of Credit Facility Fees after first offsetting against such interest income any unpaid Letter of Credit Facility Fees or Reimbursement Obligations or LC Obligations, and interest accrued thereon, which is due and owing by the Borrower as of the date such interest income is to be released.
Release of Excess Collateral. If on any Business Day the Collateral Agent is advised by the Pledgor in writing that the number of Pledged Shares exceeds the Maximum Deliverable Number of DSW Class A Common Shares as of such day, or if any Adjustment Event or Reorganization Event has occurred prior to such Business Day, that the number of units of Exchange Property pledged hereunder as Collateral exceeded the Maximum Deliverable Number of units of Exchange Property as of such day, and no Event of Default or failure by the Pledgor to meet any of its obligations under Section 5 or 6 hereof has occurred and is continuing, the Pledgor may obtain the release from the Lien hereof of any such excess Collateral, upon delivery to the Collateral Agent of a written notice from an Authorized Representative of the Pledgor indicating the items of Collateral to be released and certifying that such release would not result in a Collateral Event of Default.
Release of Excess Collateral. At any time when the Value of the ---------------------------- Collateral exceeds the Maximum Required Amount, Pledgor shall be entitled to withdraw from pledge hereunder and the control of Secured Party upon written notice, free of the security interest created hereby, shares of BLCI Stock or other Collateral with a Value equal to such excess. Secured Party agrees to release and deliver such Pledged Shares or other Collateral to Pledgor in accordance with the preceding sentence.
Release of Excess Collateral. Provided that no Event of Default or, in the good faith and reasonable business judgment of the Lender, no Incipient Event of Default has occurred and is continuing, in the event, as of the date of determination, that the aggregate Outstanding principal balance of the Loan is less than ninety percent (90%) of the aggregate Outstanding principal balance of all of the Designated Instruments that comprise Designated Receivables Collateral on such date, Borrower may request in writing that Lender release, and within four Business Days after receipt of such request Lender shall release, an amount of Designated Receivables Collateral equal to the amount requested in such writing by Borrower, provided, that the Borrower pay the Exit Fee thereon, and provided, further, that the amount of Designated Receivables Collateral which may be requested by Borrower to be so released shall not, upon either the date so released or, as of the date of determination on any Payment Date thereafter, reduce the Borrowing Base to be less than the product of the Borrowing Base Percentage multiplied by the Outstanding principal balance of all Designated Instruments.
Release of Excess Collateral. So long as no Event of Default or Potential Event of Default shall have occurred and be continuing, if on any Valuation Date the Minimum Collateral Value Amount exceeds the Swing Line Loans, then, upon written demand by Pledgor, Secured Party shall promptly (and in any event within two Business Days) instruct Securities Intermediary pursuant to Section 4(e) of the Third-Party Account Agreement, to transfer to Pledgor in accordance with such written instructions as may have been delivered by Pledgor, Financial Assets and other property designated by Pledgor (or in the absence of such a designation, reasonably selected by Secured Party or Securities Intermediary) having a total value, determined on a basis consistent with the determination of Collateral Value, equal to the lesser of the amount of funds requested by Pledgor in writing and the amount by which the Minimum Collateral Value Amount exceeds the Swing Line Loans on the date of transfer.
Release of Excess Collateral. If on any Business Day the Collateral Agent determines that the aggregate Pledge Value of any Pledgor's Eligible Collateral exceeds such Pledgor's Pledge Value Requirement and no Event of Default with respect to such Pledgor or failure by such Pledgor to meet any of its obligations under Sections 2 or 4 hereof has occurred and is continuing, such Pledgor may obtain the release from the Lien hereof of any Collateral pledged by such Pledgor having an aggregate Pledge Value on such Business Day less than or equal to such excess, upon delivery to the Collateral Agent of a written notice from an Authorized Representative of such Pledgor indicating the items of Collateral to be released. Such Collateral shall be released only after the Collateral Agent shall have determined that the aggregate Pledge Value of all of the Collateral pledged by such Pledgor remaining after such release as determined on such Business Day is at least equal to such Pledgor's Pledge Value Requirement. Release shall be effected as described in Section 4(b)(3) in connection with substitutions and release of Prior Collateral.
Release of Excess Collateral. If on any Business Day the Collateral Agent determines that (i) if no U.S. Government Securities are pledged at such time, the Collateral includes Common Stock, Marketable Equity Securities or Transferable Equity Securities in excess of the Maximum Deliverable Number thereof, or cash in an amount exceeding the sum of all Cash Delivery Obligations, if any, or (ii) if any U.S. Government Securities are pledged as Collateral at such time, the aggregate Pledge Value of the Pledgor's Eligible Collateral exceeds the Pledge Value Requirement and, in the case of clause (i) or (ii), no Event of Default has occurred and is continuing, the Pledgor may obtain the release from the Lien hereof of any Collateral, in the case of clause (i), consisting of Common Stock, Marketable Equity Securities, Transferable Equity Securities and/or cash in an amount or number less than or equal to such excess, or in the case of clause (ii), having an aggregate Pledge Value on such Business Day less than or equal to such excess, in each case upon delivery to the Collateral Agent of a written notice from an Authorized Representative of the Pledgor indicating the items of Collateral to be released. Such Collateral shall be released promptly after the Collateral Agent shall have determined that the Collateral remaining after such release, as determined on such Business Day, is at least equal, in the case of clause (i), to the Maximum Deliverable Number of Common Stock, Marketable Equity Securities, Transferable Equity Securities and/or cash, or in the case of clause (ii), to the Pledge Value Requirement. In connection with any release of Collateral pursuant to this Section 6(f), the Collateral Agent and the Purchaser shall take all actions reasonably necessary to effect and evidence such release, including without limitation executing and delivering to Pledgor all documents reasonably necessary thereto. Notwithstanding the foregoing and anything else to the contrary in this Agreement, additional Collateral delivered to the Collateral Agent pursuant to Section 1.3(d) of the Purchase Agreement shall be retained by the Collateral Agent until satisfaction in full by Pledgor of its obligations pursuant to the Purchase Agreement.
Release of Excess Collateral. (a) Upon Pledgor’s election of Cash Settlement pursuant to Section 2.3(d) of the Contract:
