Common use of Automatic Release Clause in Contracts

Automatic Release. The Charged Assets shall be immediately and automatically released from the IM-Security Interest upon (a) the occurrence of the Final Security Release Date, the Parties complying with their respective obligations under Clause 11(3) (Final release) and the effective transfer of all Charged Assets in accordance with such instructions; or (b) the Single Pledgor Pledged Account Agreement having been terminated in accordance with its terms and the transfer of the Charged Assets in accordance with its terms.

Automatic Release. The Charged Assets shall be immediately and automatically released from the IM-Security Interest upon. (a) the occurrence of the Final Security Release Date, the Parties Par- ties complying with their respective obligations under Clause 11(3) (Final release) and the effective transfer of all Charged Assets in accordance with such instructions; or (b) the Single Pledgor Pledged Account Agreement IM-Custody Agreements having been terminated in accordance with its terms and the transfer of the Charged Assets in accordance with its terms.

Automatic Release. The Charged Assets shall be immediately and automatically released from the IM-Security Interest upon. (a) the occurrence of the Final Security Release Date, the Parties complying with their respective obligations under Clause 11(3) (Final release) and the effective transfer of all Charged Assets in accordance with such instructions; or (b) the Single Pledgor Pledged Account Agreement IM-Custody Agreements having been terminated in accordance with its terms and the transfer of the Charged Assets in accordance with its terms.