Surrender of Collateral Sample Clauses

Surrender of Collateral. Secured Party may surrender, release, exchange or alter any collateral or security for the Obligations without affecting the liability of Pledgor under this Agreement, and this Agreement shall continue effective notwithstanding any legal disability of Pledgor to incur any indebtedness or obligation incurred to Secured Party.
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Surrender of Collateral. The bank may surrender collateral or the other third-party pledge lodged in security for the principal debt without the pledgor’s liability diminishing thereby. For a justified reason, the bank may surrender the pledge, owned by the debtor and lodged in security for the principal debt, without the third-party pledgor’s permission even if the bank did not receive a payment for the debt or replacement collateral security. In such a case, the pledgor’s liability does not diminish. If the collateral is a deficiency pledge, surrendering a primary pledge will not increase the third-party pledgor’s liability unless he/she has given his/her consent to the surrender of the pledge.
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Surrender of Collateral. (a) The Debtor hereby surrenders, delivers and grants to Lender peaceful possession of the Collateral wherever located, and the products and proceeds thereof. Such surrender and delivery of such Collateral to Lender is in recognition of the rights of Xxxxxx as a secured party under the UCC and other applicable law. The Debtor knowingly waives any rights such Debtor may have to notice and a hearing before any court of competent jurisdiction and consents to Lender’s possession, sale, transfer, license or other disposition of or realization on the Collateral. The Debtor agrees that Lender may, at any time, take such action as it may deem appropriate with respect thereto, and Lender may, at any time, exercise its rights to dispose of any and all such Collateral as provided for under the Financing Agreements and applicable law, without prejudice to all of the rights of Lender All proceeds of the Collateral received and retained by Lender shall be applied by Lender to the Obligations in such order and manner as Lender shall determine. Debtor shall be and remain liable for any deficiency until all Obligations are fully and indefeasibly paid and satisfied. Nothing herein will limit or be deemed to limit any rights or interests of Lender with respect to Collateral not expressly surrendered, delivered, or granted to Lender hereunder. After the date hereof, the Debtor shall continue to cooperate with Xxxxxx in all respects concerning the surrender, disposition and realization of the Collateral.
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Surrender of Collateral. (a) NewSight hereby surrenders, transfers and turns over to WRT the Collateral in full satisfaction of the Aggregate Indebtedness and WRT hereby accepts the Collateral in full satisfaction of the Aggregate Indebtedness. WRT hereby agrees that except for its obligations under this Agreement, NewSight has no further obligations to WRT.
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Surrender of Collateral. (a) Kronos hereby surrenders, delivers and grants to the Noteholders peaceful possession of the Collateral wherever located. Such surrender and delivery of the Collateral to the Noteholders is in recognition of the rights of the Noteholders as a secured party under the UCC and other applicable law. Kronos knowingly waives any rights Kronos may have to notice and a hearing before any Court of competent jurisdiction and consents to the Noteholders’ possession, sale, transfer or other disposition of the Collateral, including, but not limited to, the sale, license or other use in any way of Kronos’s trademarks or tradenames in the sale, license, transfer or other disposition of the Collateral. Kronos agrees that the Noteholders may, at any time enter and remove any or all of the Collateral from the premises where the same is located and take such action as they may deem appropriate with respect thereto, and the Noteholders may, at any time, exercise their rights to dispose of any Collateral as provided for under the Agreements and applicable law, without prejudice to any of the rights of the Noteholders, including any claim for any deficiency. All proceeds of the Collateral received and retained by the Noteholders shall be applied by the Noteholders to the Obligations in such order and manner as the Noteholders shall determine in their sole and absolute discretion. Kronos shall be and remain liable for any deficiency until all Obligations are fully and indefeasibly paid and satisfied.
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Surrender of Collateral. Upon satisfaction in full of the Shareholder's obligation to the Company as set forth in the Note, Company shall return to Shareholder any of the Collateral then in possession of Company.
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Surrender of Collateral. Effective at 9:00 a.m. (prevailing Eastern Time) on November 24, 2009 (the "Surrender Date") the Borrower shall in partial satisfaction of Borrower's obligations under the Transaction Documents surrender possession of substantially all of the Collateral to the Collateral Agent, excepting only from such surrender: (a) one (1) Toyota Forklift Model no. 7FBEU18 having serial number 17535; (b) one (1) battery-GNB model no. 2601808517B serial no. GEJ2248; and (c) one (1) charger-Ametek model no. 750M1-18C serial no. 207CS52711. The Borrower hereby waives with respect to the Collateral any right of redemption, stay or appraisal, as well as any right to exoneration, subrogation, reimbursement arising at law, in equity or otherwise, and any other requirement of law with respect to the subject matter of this Voluntary Surrender Agreement to the extent permitted by law. The Borrower expressly acknowledges that the Collateral Agent is assuming no liabilities of the Borrower in connection with the Collateral.
Sample 1
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Surrender of Collateral. The Secured Party hereby consents and agrees to accept the Collateral in full satisfaction of the Secured Indebtedness. Pursuant to Section 9-620 of the New York Uniform Commercial Code (the "UCC"), the Debtor and each Guarantor hereby consents to the acceptance of the Collateral by the Secured Party in full satisfaction of the Secured Indebtedness and the Secured Party hereby directs and the Debtor and each Guarantor hereby agrees to surrender, assign or transfer the Collateral to the Secured Party. The effective date of the surrender, assignment or transfer of Collateral hereunder shall be the date first set forth above.
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Surrender of Collateral 
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Related to Surrender of Collateral

  • Transfer of Collateral In connection with the transfer or assignment of the Note (whether by negotiation, discount or otherwise), the Company may transfer all or any part of the Collateral, and the transferee shall thereupon succeed to all the rights, powers and remedies granted the Company hereunder with respect to the Collateral so transferred. Upon such transfer, the Company shall be fully discharged from all liability and responsibility for the transferred Collateral.

  • Substitution of Collateral A Fund may substitute securities for any securities identified as Collateral by delivery to the Custodian of a Pledge Certificate executed by such Fund on behalf of the applicable Portfolio, indicating the securities pledged as Collateral.

  • Possession and Transfer of Collateral Unless an Event of Default exists hereunder, the Borrower shall be entitled to possession or use of the Collateral (other than Instruments or Documents, Tangible Chattel Paper, Investment Property consisting of certificated securities and other Collateral required to be delivered to the Bank pursuant to this Section 6). The cancellation or surrender of any Note, upon payment or otherwise, shall not affect the right of the Bank to retain the Collateral for any other of the Obligations. The Borrower shall not sell, assign (by operation of law or otherwise), license, lease or otherwise dispose of, or grant any option with respect to any of the Collateral, except that the Borrower may sell Inventory in the ordinary course of business and may sell property, plant and Equipment in the ordinary course of business.

  • Preservation of Collateral Following the occurrence of a Default or Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ owned or leased property. Each Borrower shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

  • Receipt of Collateral At the commencement of any loan, the Lending Agent shall instruct the Approved Borrower to transfer to the Lending Agent the required Collateral. Collateral will be received from an Approved Borrower prior to or simultaneous with delivery of the securities loaned. If the Approved Borrower does not provide Collateral to the Lending Agent, as previously agreed, then the Lending Agent will cancel the corresponding loan instruction prior to delivery.

  • Location of Collateral All tangible items of Collateral, other than Inventory in transit, shall at all times be kept by Borrowers at the business locations set forth in Schedule 8.6.1, except that Borrowers may (a) make sales or other dispositions of Collateral in accordance with Section 10.2.6; and (b) move Collateral to another location in the United States, upon 30 Business Days prior written notice to Agent.

  • Protection of Collateral All expenses of protecting, storing, warehousing, insuring, handling, maintaining and shipping any Collateral, all Taxes payable with respect to any Collateral (including any sale thereof), and all other payments required to be made by Agent to any Person to realize upon any Collateral, shall be borne and paid by Borrowers. Agent shall not be liable or responsible in any way for the safekeeping of any Collateral, for any loss or damage thereto (except for reasonable care in its custody while Collateral is in Agent’s actual possession), for any diminution in the value thereof, or for any act or default of any warehouseman, carrier, forwarding agency or other Person whatsoever, but the same shall be at Borrowers’ sole risk.

  • Release of Collateral Subject to Section 11.01 and the terms of the Basic Documents, the Indenture Trustee shall release property from the lien of this Indenture only upon receipt by it of an Issuer Request accompanied by an Officer’s Certificate, an Opinion of Counsel and Independent Certificates in accordance with TIA Sections 314(c) and 314(d)(1) or an Opinion of Counsel in lieu of such Independent Certificates to the effect that the TIA does not require any such Independent Certificates.

  • Application of Collateral The proceeds of any sale, or other realization (other than that received from a sale or other realization permitted by the Credit Agreement) upon all or any part of the Pledged Collateral pledged by the Pledgors shall be applied by the Administrative Agent as set forth in Section 7.06 of the Credit Agreement.

  • Inspection of Collateral Lender and Lender's designated representatives and agents shall have the right at all reasonable times to examine and inspect the Collateral wherever located.

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