Common use of COVENANT TO RELEASE Clause in Contracts

COVENANT TO RELEASE. Upon the expiry of the Security Period or as otherwise permitted under the terms of the Facility Agreement (but not otherwise), the Security Trustee shall (or procure that its nominees shall), at the request and cost of the Chargor, execute and do all such deeds, acts and things as may be necessary to release the relevant Charged Assets from the security constituted hereby including the payment of any moneys standing to the credit of the Realisations Accounts to the Chargor. The Security Trustee shall not be bound to return the identical Shares which were deposited, held or transferred and each Chargor shall accept Shares of the same class and denomination.