Full Release of Collateral. On the earlier of (A) the Final Payment Date or (B) the date on which the requisite percentage of the Lenders have approved the release of the Transaction Liens in accordance with Section 10.02 of the Credit Agreement, the Transaction Liens shall be fully and automatically released without further action by the Collateral Agent or any other Person (including any other Secured Party), and all rights to the Collateral shall revert to the applicable Grantor.
Appears in 19 contracts
Samples: Credit Agreement (El Paso Corp/De), Credit Agreement (El Paso Natural Gas Co), Credit Agreement (Tennessee Gas Pipeline Co)
Full Release of Collateral. On the earlier of (A) the Final Payment Date or Date, (B) the date on which the requisite percentage of the Lenders have approved the release of the Transaction Liens in accordance with Section 10.02 of the Credit Agreement, and (C) the Collateral Release Date, the Transaction Liens shall be fully and automatically released without further action by the Collateral Agent or any other Person (including any other Secured Party), and all rights to the Collateral shall revert to the applicable Grantor.
Appears in 4 contracts
Samples: Credit Agreement (Tennessee Gas Pipeline Co), Security Agreement (El Paso Natural Gas Co), Security Agreement (El Paso Corp/De)
