Common use of Return of Collateral Clause in Contracts

Return of Collateral. Upon the termination of the Survival Period, the Pledgors shall be entitled to the return of all of the Collateral and all other cash held as additional Collateral hereunder which have not been used or applied toward the payment of the Secured Obligations, unless claims asserted in one or more Claim Notices pursuant to Section 6(a) hereof remain outstanding, in which case Collateral with a Value equal to the aggregate dollar amount of such claims shall be retained by the Pledgee pursuant to the terms hereof pending resolution of such claims pursuant to Section 6 hereof (such retained Collateral to consist of Collateral delivered by any Pledgor which may be liable for such claims or, if more than one Pledgor may be liable as to any claim, then in proportion to such Pledgors' potential liability so long as the Pledgee holds sufficient Collateral of each such Pledgor, and otherwise in any proportion). The assignment by the Pledgee to the Pledgors of such Collateral shall be without representation or warranty of any nature whatsoever and wholly without recourse. Notwithstanding the foregoing, the Pledgors' release of the Pledgee and agreement to hold the Pledgee harmless set forth in the last sentence of Section 14 hereof shall survive any return of Collateral or termination of this Agreement.

Appears in 3 contracts

Samples: Contribution Agreement (Maguire Properties Inc), Contribution Agreement (Maguire Properties Inc), Contribution Agreement (Maguire Properties Inc)

AutoNDA by SimpleDocs

Return of Collateral. Upon the termination of the Survival Period, the Pledgors shall be entitled to the return of all of the Collateral and all other cash held as additional Collateral hereunder which have not been used or applied toward the payment of the Secured Obligations, unless claims asserted in one or more Claim Notices pursuant to Section 6(a) hereof remain outstanding, in which case Collateral with a Value equal to the aggregate dollar amount of such claims shall be retained by the Pledgee pursuant to the terms hereof pending resolution of such claims pursuant to Section 6 hereof (such retained Collateral to consist of Collateral delivered by any Pledgor which may be liable for such claims or, if more than one Pledgor may be liable as to any claim, then in proportion to such Pledgors' ’ potential liability so long as the Pledgee holds sufficient Collateral of each such Pledgor, and otherwise in any proportion). The assignment by the Pledgee to the Pledgors of such Collateral shall be without representation or warranty of any nature whatsoever and wholly without recourse. Notwithstanding the foregoing, the Pledgors' ’ release of the Pledgee and agreement to hold the Pledgee harmless set forth in the last sentence of Section 14 hereof shall survive any return of Collateral or termination of this Agreement.

Appears in 2 contracts

Samples: Contribution Agreement (Thomas Properties Group Inc), Contribution Agreement (Thomas Properties Group Inc)

AutoNDA by SimpleDocs

Return of Collateral. Upon the termination of the Survival -------------------- Period, the Pledgors shall be entitled to the return of all of the Collateral and all other cash held as additional Collateral hereunder which have not been used or applied toward the payment of the Secured Obligations, unless claims Claims asserted in one or more Claim Notices pursuant to Section 6(a) hereof remain outstanding, in which case Collateral with a Value equal to the aggregate dollar amount of such claims Claims shall be retained by the Pledgee pursuant to the terms hereof pending resolution of such claims Claims pursuant to Section 6 hereof (such retained Collateral to consist of Collateral delivered by any Pledgor which may be liable for such claims Claims (or, if more than one Pledgor may be liable as to any claimClaim, then in proportion to such Pledgors' potential liability so long as the Pledgee holds sufficient Collateral of each such Pledgor, and otherwise in any proportion). The assignment by the Pledgee to the Pledgors of such Collateral shall be without representation or warranty of any nature whatsoever and wholly without recourse. Notwithstanding the foregoing, the Pledgors' release of the Pledgee and agreement to hold the Pledgee harmless set forth in the last sentence of Section 14 12 hereof shall survive any return of Collateral or termination of this Agreement.

Appears in 1 contract

Samples: Pledge Agreement (Kilroy Realty Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.