Common use of Termination; Release Clause in Contracts

Termination; Release. When the Obligations have been indefeasibly paid and performed in full or all outstanding Convertible Notes have been converted to common stock pursuant to the terms of the Convertible Notes and the Subscription Agreements, this Agreement shall terminated, and the Collateral Agent, at the request and sole expense of the Debtors, will execute and deliver to the Debtors the proper instruments (including UCC termination statements) acknowledging the termination of the Security Agreement, and duly assign, transfer and deliver to the Debtors, without recourse, representation or warranty of any kind whatsoever, such of the Collateral, including, without limitation, Securities and any Additional Collateral, as may be in the possession of the Collateral Agent.

Appears in 15 contracts

Samples: Security Agreement (Ceragenix Pharmaceuticals, Inc.), Security Agreement (Franklin Towers Enterprises Inc), Security Agreement (Analytical Surveys Inc)

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Termination; Release. When the Obligations have been indefeasibly paid and performed in full or all outstanding Convertible Notes have been converted to common stock Common Stock pursuant to the terms of the Convertible Notes Note and the Subscription Purchase Agreements, this Agreement shall terminatedterminate, and the Subscribers or the Collateral Agent, as appropriate, at the request and sole expense of the DebtorsDebtor, will execute and deliver to the Debtors Debtor the proper instruments (including UCC termination statements) acknowledging the termination of the Security Agreement, and duly assign, transfer and deliver to the DebtorsDebtor, without recourse, representation or warranty of any kind whatsoever, such of the Collateral, including, without limitation, Securities and any Additional Collateral, as may be in the possession of the Collateral AgentAgent or Subscribers.

Appears in 5 contracts

Samples: Security Agreement (Ideal Power Inc.), Securities Purchase Agreement (Ideal Power Inc.), Security Agreement (Ideal Power Inc.)

Termination; Release. When the Obligations have been indefeasibly paid and performed in full or all outstanding Convertible Notes have been converted to common stock pursuant to the terms of the Convertible Notes and the Subscription Agreements, this Agreement shall terminated, and the Collateral Agent, at the request and sole expense of the DebtorsDebtor, will execute and deliver to the Debtors Debtor the proper instruments (including UCC termination statements) acknowledging the termination of the Security Agreement, and duly assign, transfer and deliver to the DebtorsDebtor, without recourse, representation or warranty of any kind whatsoever, such of the Collateral, including, without limitation, Securities and any Additional Collateral, as may be in the possession of the Collateral Agent.

Appears in 3 contracts

Samples: Security Agreement (IDO Security Inc.), Security Agreement (IDO Security Inc.), Security Agreement (SVC Financial Services Inc)

Termination; Release. When the Obligations have been indefeasibly paid and performed in full or all outstanding Convertible Notes have been converted to common stock pursuant to the terms of the Convertible Notes and the Subscription Agreements, this Agreement shall terminatedterminate, and the Collateral Agent, at the request and sole expense of the Debtors, will execute and deliver to the Debtors the proper instruments (including UCC termination statements) acknowledging the termination of the Security Agreement, and duly assign, transfer and deliver to the Debtors, without recourse, representation or warranty of any kind whatsoever, such of the Collateral, including, without limitation, Securities and any Additional Collateral, as may be in the possession of the Collateral Agent.

Appears in 2 contracts

Samples: Security Agreement (International Power Group, Ltd.), Security Agreement (Rim Semiconductor CO)

Termination; Release. When the Obligations have been indefeasibly paid and performed in full or all outstanding Convertible Notes Debentures have been converted to common stock pursuant to the terms of the Convertible Notes Debentures and the Subscription Securities Purchase Agreements, this Agreement shall terminatedterminate, and the Collateral Agent, at the request and sole expense of the Debtors, will execute and deliver to the Debtors the proper instruments (including UCC termination statements) acknowledging the termination of the Security Agreement, and duly assign, transfer and deliver to the Debtors, without recourse, representation or warranty of any kind whatsoever, such of the Collateral, including, without limitation, Securities and any Additional Collateral, as may be in the possession of the Collateral Agent.

Appears in 2 contracts

Samples: Security Agreement (Aprecia Inc), Security Agreement (Aprecia Inc)

Termination; Release. When the Obligations have been indefeasibly paid and performed in full or all outstanding Convertible Notes have been converted to common stock pursuant to the terms of the Convertible Notes and the Subscription Agreements, this Agreement shall terminated, and the Collateral Agent, at the request and sole expense of the Debtors, will execute and deliver to the Debtors the proper instruments (including UCC termination statements, if so required) acknowledging the termination of the Security Agreement, and duly assign, transfer and deliver to the Debtors, without recourse, representation or warranty of any kind whatsoever, such of the Collateral, including, without limitation, Securities and any Additional Collateral, as may be in the possession of the Collateral Agent.

Appears in 2 contracts

Samples: Security Agreement, Security Agreement (Satellite Security Corp)

Termination; Release. When the Obligations have been indefeasibly paid and performed in full or all outstanding Convertible Notes have been converted to common stock pursuant to the terms of the Convertible Notes and the Subscription Agreements, this Agreement shall terminated, and the Collateral Agent, at the request and sole expense of the Debtors, will execute and deliver to the Debtors the proper instruments (including UCC termination statements) acknowledging the termination of the Security Agreement, and duly assign, transfer and deliver to the Debtors, without recourse, representation or warranty of any kind whatsoever, such of the Collateral, including, without limitation, Securities and any Additional Collateral, as may be in the possession of the Collateral Agent.

Appears in 2 contracts

Samples: Security Agreement (Boomj Inc), Security Agreement (Ceragenix Pharmaceuticals, Inc.)

Termination; Release. When the Obligations have been indefeasibly paid and performed in full or all outstanding Convertible Notes Debentures have been converted to common stock pursuant to the terms of the Convertible Notes Debentures and the Subscription Securities Purchase Agreements, this Agreement shall terminatedterminate, and the Collateral Agent, at the request and sole expense of the Debtors, will execute and deliver to the Debtors the proper instruments (including UCC termination statements) acknowledging the termination of the Security Agreement, and duly assign, transfer and deliver to the Debtors, without recourse, representation or warranty of any kind whatsoever, such of the Collateral, including, without limitation, Securities and any Additional Collateral, as may be in the possession of the Collateral Agent.

Appears in 1 contract

Samples: Security Agreement (Ustelematics Inc)

Termination; Release. When the Obligations have been indefeasibly paid and performed in full or all outstanding Convertible Notes have been converted to common stock of the Parent pursuant to the terms of the Convertible Notes [and the Subscription AgreementsAgreement], this Agreement shall terminated, and the Collateral Agent, at the request and sole expense of the Debtors, will execute and deliver to the Debtors the proper instruments (including UCC termination statements) acknowledging the termination of the Security Agreement, and duly assign, transfer and deliver to the Debtors, without recourse, representation or warranty of any kind whatsoever, such of the Collateral, including, without limitation, Securities and any Additional Collateral, as may be in the possession of the Collateral Agent.

Appears in 1 contract

Samples: Security Agreement (China Biopharma, Inc.)

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Termination; Release. When the Obligations have been indefeasibly paid and performed in full or all outstanding Convertible Notes have been converted to common stock into shares of Common Stock pursuant to the terms of the Convertible Notes and the Subscription Agreements, this Agreement shall terminated, terminate and the Collateral Agent, at the request and sole expense of the DebtorsDebtor, will execute and deliver to the Debtors Debtor the proper instruments (including UCC termination statements) acknowledging the termination of the Security Agreement, Agreement and duly assign, transfer and deliver to the DebtorsDebtor, without recourse, representation or warranty of any kind whatsoever, such of the Collateral, including, without limitation, Securities and any Additional Collateral, as may be in the possession of the Collateral Agent.

Appears in 1 contract

Samples: Security Agreement (China Cablecom Holdings, Ltd.)

Termination; Release. When the Obligations have been indefeasibly paid and performed in full or all outstanding Convertible Notes have been converted to common stock pursuant to the terms of the Convertible Notes and the Subscription AgreementsNotes, this Agreement shall terminated, and the Collateral Agent, at the request and sole expense of the Debtors, will execute and deliver to the Debtors the proper instruments (including UCC termination statements) acknowledging the termination of the Security Agreement, and duly assign, transfer and deliver to the Debtors, without recourse, representation or warranty of any kind whatsoever, such of the Collateral, including, without limitation, Securities and any Additional Collateral, as may be in the possession of the Collateral Agent.

Appears in 1 contract

Samples: Security Agreement (Tasker Products Corp)

Termination; Release. When the Obligations have been indefeasibly paid and performed in full or all outstanding Convertible Notes have been converted to common stock pursuant to the terms of the Convertible Notes and the Subscription Agreements, this Agreement shall terminated, and the Collateral AgentLender, at the request and sole expense of the Debtors, will execute and deliver to the Debtors the proper instruments (including UCC termination statements) acknowledging the termination of the Security Agreement, and duly assign, transfer and deliver to the Debtors, without recourse, representation or warranty of any kind whatsoever, such of the Collateral, including, without limitation, Securities and any Additional Collateral, as may be in the possession of the Collateral AgentLender.

Appears in 1 contract

Samples: Security Agreement (Diamond Entertainment Corp)

Termination; Release. When the Obligations have been indefeasibly paid and performed in full or all outstanding Convertible Notes have been converted to common stock pursuant to the terms of the Convertible Notes and the Subscription Agreements, this Agreement and the security interests created hereunder shall be terminated, and the Collateral Agent, at the request and sole expense of the DebtorsDebtor, will execute and deliver to the Debtors Debtor the proper instruments (including UCC termination statements) acknowledging the termination of terminating the Security AgreementAgreement and such security interests, and duly assign, transfer and deliver to the DebtorsDebtor, without recourse, representation or warranty of any kind whatsoever, such of the Collateral, including, without limitation, Securities and any Additional Collateral, as may be in the possession of the Collateral Agent.

Appears in 1 contract

Samples: Security Agreement (Ever-Glory International Group, Inc.)

Termination; Release. When the Obligations have been indefeasibly paid and performed in full or all outstanding Convertible Notes have been converted to common stock pursuant to the terms of the Convertible Notes and the Subscription Agreements, this Agreement shall terminatedterminate, and the Collateral Agent, at the request and sole expense of the Debtors, will execute and deliver to the Debtors the proper instruments (including UCC termination statements) acknowledging the termination of the Security Agreement, and duly assign, transfer and deliver to the Debtors, without recourse, representation or warranty of any kind whatsoever, such of the Collateral, including, without limitation, Securities and any Additional Collateral, as may be in the possession of the Collateral Agent.. 10 (Security Agreement)

Appears in 1 contract

Samples: Security Agreement (Universal Communication Systems Inc)

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