Redemption of Obligor Security - Borrower Security Trustee Sample Clauses

Redemption of Obligor Security - Borrower Security Trustee. Subject to the provisions of the Senior/Subordinated Intercreditor Agreement and the STID and upon written confirmation to the Borrower Security Trustee from each of the Borrower Secured Creditors (other than the Borrower Security Trustee) (through its Secured Creditor Representative) that the Secured Liabilities owing to each such Borrower Secured Creditor have been discharged in full and none of the Borrower Secured Creditors and, in the case of the Issuer, the Issuer Secured Creditors being under any further actual or contingent obligation to make advances or provide other financial accommodation to any Obligor or any other person under any of the Finance Documents, the Borrower Security Trustee shall, at the request and cost of the Obligors, as soon as reasonably practicable following such a request, release, or, as appropriate, discharge the Secured Liabilities and reassign, or procure the reassignment to each Obligor of the property and assets charged or assigned to the Borrower Security Trustee under this Deed and any Legal Charge in each case subject to Clause
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Related to Redemption of Obligor Security - Borrower Security Trustee

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