Common use of Release and Satisfaction Clause in Contracts

Release and Satisfaction. Upon the indefeasible payment (whether in cash and/or other consideration which is satisfactory to the Lenders in their sole discretion) and performance in full of the Obligations, the termination of all Commitments, the termination or expiration of all Letters of Credit and the termination of all Interest Rate Agreements to which any Secured Party is a party, (i) this Security Agreement and the security interest created hereby shall terminate, and (ii) upon written request of the Grantor, the Administrative Agent shall execute and deliver to the Grantor, at the Grantor's expense and without representation or warranty by or recourse to the Administrative Agent or the Secured Parties, releases and satisfactions of all financing statements, mortgages, notices of assignment and other registrations of security, and the Grantor shall deliver to the Administrative Agent a general release of all of the Administrative Agent's liabilities and obligations under all Loan Documents and an acknowledgment that the same have been terminated.