Common use of Continuation and Termination of Assignment Clause in Contracts

Continuation and Termination of Assignment. If Borrower shall pay or cause to be paid the Indebtedness as and when same shall become due and payable and shall perform and discharge or cause to be performed and discharged the Obligations on or before the date the same are to be performed and discharged, then this assignment shall thereupon be terminated and of no further force and effect, and all rights, titles and interests conveyed pursuant to this assignment shall become revested in Borrower without the necessity of any further act or requirement by Borrower or Lender; provided, however, the affidavit, certificate, letter or statement of any officer of Lender stating that any part of the Indebtedness or the Obligations remains unpaid and undischarged shall be and constitute conclusive evidence of the validity, effectiveness or continuing force of the within assignment, and any person, firm or corporation may, and is hereby authorized to, rely thereon.

Continuation and Termination of Assignment. If Borrower Grantor shall pay or cause to be paid the Indebtedness Obligations as and when same shall become due and payable and shall perform and discharge or cause to be performed and discharged the Obligations on or before the date the same are to be performed and dischargeddischarged in accordance with the terms of the Credit Agreement, then this assignment shall thereupon be terminated and of no further force and effect, and all rights, titles and interests conveyed pursuant to this assignment shall become revested in Borrower Grantor without the necessity of any further act or requirement by Borrower Grantor or LenderAgent; provided, however, the an affidavit, certificate, letter or statement of any officer of Lender Agent stating that any part of the Indebtedness or the Obligations remains unpaid and undischarged shall be and constitute conclusive evidence of the validity, effectiveness or continuing force of the within assignment, and any person, firm or corporation may, and is hereby authorized to, rely thereon.

Continuation and Termination of Assignment. If Borrower Owner shall pay or cause to be paid the Indebtedness Obligations as and when same shall become due and payable and shall perform and discharge or cause to be performed and discharged the Obligations on or before the date the same are to be performed and dischargeddischarged in accordance with the terms of the Credit Agreement, then this assignment shall thereupon be terminated and of no further force and effect, and all rights, titles and interests conveyed pursuant to this assignment shall become revested in Borrower Owner without the necessity of any further act or requirement by Borrower Owner or LenderAgent; provided, however, the an affidavit, certificate, letter or statement of any officer of Lender Agent stating that any part of the Indebtedness or the Obligations remains unpaid and undischarged shall be and constitute conclusive evidence of the validity, effectiveness or continuing force of the within assignment, and any person, firm or corporation may, and is hereby authorized to, rely thereon.