Example ContractsClausesLien Releases; Care of Collateral
Lien Releases; Care of Collateral
Lien Releases; Care of Collateral contract clause examples

Lien Releases; Care of Collateral. Secured Parties authorize Agent to release any Lien on any Collateral # upon Full Payment of the Obligations; # that is the subject of a disposition that Borrower certifies in writing is a Permitted Asset Disposition (and Agent may rely conclusively on such certificate without further inquiry); # subject to Section 14.1, with the consent of Required Lenders; or # as is otherwise permitted under Loan Documents. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien entitled to priority hereunder. Agent has no obligation to assure that any Collateral exists or is owned by an Obligor, or is cared for, protected or insured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Lien Releases; Care of Collateral. Secured Parties authorize Agent to release any Lien on any Collateral # upon Full Payment of the Obligations; # that is the subject of a disposition or Lien that Borrowers certify in writing is a Permitted Asset Disposition or a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on such certificate without further inquiry); # that does not constitute a material part of the Collateral; or # subject to Section 14.1, with the consent of Required Lenders, and to execute in connection with such events such payoff letters and related documentation in form and substance satisfactory to Agent in its sole discretion, as shall in Agent's sole discretion be deemed advisable. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien entitled to priority hereunder. Agent has no obligation to assure that any Collateral exists or is owned by an Obligor, or is cared for, protected or insured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Lien Releases; Care of Collateral. Secured Parties authorize Agent to release any Lien with respect to any Collateral: # upon Full Payment of the Obligations; # that is the subject of a disposition or Lien that any Borrower certifies in writing is a Permitted Asset Disposition or a Permitted Lien entitled to priority over Agent's Liens (and Agent may rely conclusively on any such certificate without further inquiry); # that does not constitute a material part of the Collateral; or # subject to Section 13.1, with the consent of Required Lenders. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien entitled to priority hereunder. Agent has no obligation to assure that any Collateral exists or is owned by an Obligor, or is cared for, protected or insured, nor to assure that Agent's Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Lien Releases; Care of Collateral. Secured Parties authorize Administrative Agent to release any Lien with respect to any Collateral # upon Full Payment of the Obligations; # that is the subject of a disposition or Lien that Borrower Agent certifies in writing is a Disposition permitted pursuant to [Section 10.2.9] or a Permitted Lien entitled to priority over Administrative Agent’s Liens or another transaction requiring release of such Lien which is expressly permitted under the Loan Documents (and Administrative Agent may rely conclusively on any such certificate without further inquiry); # that does not constitute a material part of the Collateral that Borrower Agent certifies in writing as such (and Administrative Agent may rely conclusively on such certificate without further inquiry); # upon a Subsidiary becoming an Unrestricted Subsidiary in accordance with the terms of the Loan Documents; or # subject to [Section 15.1.1], with the consent of Required Lenders. Secured Parties authorize Administrative Agent to subordinate its Liens to any Lien permitted under [Section 10.2.2(i)] or other Lien entitled to priority hereunder. Administrative Agent has no obligation to assure that any Collateral exists or is owned by an Obligor, or is cared for, protected or insured, nor to assure that Administrative Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Lien Releases. Each Secured Party authorizes Administrative Agent to release any Lien with respect to any Collateral # upon Payment in Full of the Obligations or # that is the subject of an Asset Disposition which Borrower Agent certifies in writing to Administrative Agent and Co-Collateral Agents is an Asset Disposition that is permitted by Section 7.6 (and Administrative Agent may rely conclusively on any such certificate without further inquiry).

Lien Releases; Care of Collateral. Secured Parties authorize Agent to release any Lien with respect to any Collateral: # upon Full Payment of the Obligations; # that is the subject of a disposition or Lien that any Borrower certifies in writing is a Permitted Asset Disposition or a Permitted Lien entitled to priority over Agent's Liens (and Agent may rely conclusively on any such certificate without further inquiry); # that does not constitute a material part of the Collateral; or # subject to Section 13.1, with the consent of Required Lenders. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien entitled to priority hereunder. Agent has no obligation to assure that any Collateral exists or is owned by an Obligor, or is cared for, protected or insured, nor to assure that Agent's Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Lien Releases; Care of Collateral. Secured Parties authorize Agent to release any Lien with respect to any Collateral: # upon Full Payment of the Obligations; # that is the subject of a disposition or Lien that any Borrower certifies in writing is a Permitted Asset Disposition or a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate without further inquiry); # that does not constitute a material part of the Collateral; or # subject to Section 13.1, with the consent of Required Lenders. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien entitled to priority hereunder. Agent has no obligation to assure that any Collateral exists or is owned by an Obligor, or is cared for, protected or insured, nor to assure that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Lien Releases; Care of Collateral. Secured Parties authorize Agent to release any Lien with respect to any Collateral: # upon Full Payment of the Obligations; # that is the subject of a disposition or Lien that any Borrower certifies in writing is a Permitted Asset Disposition or a Permitted Lien entitled to priority over Agent's Liens (and Agent may rely conclusively on any such certificate without further inquiry); # that does not constitute a material part of the Collateral; or # subject to Section 13.1, with the consent of Required Lenders. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien entitled to priority hereunder. Agent has no obligation to assure that any Collateral exists or is owned by an Obligor, or is cared for, protected or insured, nor to assure that Agent's Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

Lien Releases; Care of Collateral. Secured Parties authorize Agent to release any Lien on any Collateral # upon Full Payment of the Obligations; # that is the subject of a disposition or Lien that Borrowers certify in writing is a Permitted Asset Disposition or a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on such certificate without further inquiry); # that does not constitute a material part of the Collateral; # that is owned by an Obligor that is released from its obligations under the Loan Documents in accordance with the terms of the Loan Documents; or # subject to Section 14.1, with the consent of Required Lenders. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien entitled to priority hereunder. Secured Parties authorize Agent to release any Obligor from its obligations under the Loan Documents if such Person is no longer required to be an Obligor as a result of a transaction permitted under the Loan Documents. Agent has no obligation to assure that any Collateral exists or is owned by an Obligor, or is cared for, protected or insured, nor to assure that Agent’s Liens have been properly created, perfected or 133315237_8

Lien Releases; Care of Collateral. Secured Parties authorize Agent to release any Lien with respect to any Collateral: # upon Full Payment of the Obligations; # that is the subject of a disposition or Lien that any Borrower certifies in writing is a Permitted Asset Disposition or a Permitted Lien entitled to priority over Agent's Liens (and Agent may rely conclusively on any such certificate without further inquiry); # that does not constitute a material part of the Collateral; or # subject to Section 13.1, with the consent of Required Lenders. Secured Parties authorize Agent to subordinate its Liens to any Purchase Money Lien or other Lien entitled to priority hereunder. Agent has no obligation to assure that any Collateral exists or is owned by an Obligor, or is cared for, protected or insured, nor to assure that Agent's Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral.

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