Common use of COVENANT TO RELEASE Clause in Contracts

COVENANT TO RELEASE. 14.1 Subject to paragraph Clause 14.2 below, at the end of the Security Period or as otherwise permitted in accordance with the Interim Documents, the Interim Security Agent shall, at the request and cost of the Grantor: 14.1.1 promptly execute any documents (or procure that its nominees execute any documents) and take any and all action which the relevant Grantor reasonably requests and/or which may be necessary or desirable to release the Grantor Security Interests; and 14.1.2 promptly take all other actions and steps contemplated by the Interim Documents in relation to the release of any Grantor Security Interest or any other steps, confirmations or actions in relation to this Agreement. 14.2 Notwithstanding anything to the contrary in this Agreement, to the extent contemplated by any of the Interim Documents (or to the extent agreed between the Interim Security Agent and the Grantor), the Interim Security Agent shall, at the request and cost of the Grantor, take any and all action which is necessary or desirable to release any assets from the Grantor Security Interests in accordance with the terms of the Interim Documents.

COVENANT TO RELEASE. 14.1 15.1 Subject to paragraph Clause 14.2 15.2 below, at the end of the Security Period Period, where Required Creditor Consent is obtained or as otherwise permitted in accordance with the Interim Documents, the Interim Security Agent shall, at the request and cost of the Grantor: 14.1.1 15.1.1 promptly execute any documents (or procure that its nominees execute any documents) and take any and all action which the relevant Grantor reasonably requests and/or which may be necessary or desirable to release the Grantor Security Interests; and 14.1.2 15.1.2 promptly take all other actions and steps contemplated by the Interim Documents in relation to the release of any Grantor Security Interest or any other steps, confirmations or actions in relation to this Agreement. 14.2 15.2 Notwithstanding anything to the contrary in this Agreement, to the extent contemplated by any of the Interim Documents (or to the extent agreed between the Interim Security Agent and the Grantor), the Interim Security Agent shall, at the request and cost of the Grantor, take any and all action which is necessary or desirable to release any assets from the Grantor Security Interests in accordance with the terms of the Interim Documents.