Common use of RELEASE AND TRANSFER Clause in Contracts

RELEASE AND TRANSFER. (a) The Security Trustee shall, upon the full performance and discharge of the Secured Obligations to the satisfaction of the Security Trustee and the Finance Parties, at the request and cost of the Mortgagor and in such form and with such conditions as the Security Trustee shall reasonably require, release and transfer and reassign (as appropriate) to the Mortgagor the Collateral. (b) Notwithstanding any discharge, release or settlement from time to time between the Security Trustee and the Mortgagor, if any security, disposition or payment granted or made to the Security Trustee in respect of the Secured Obligations by the Mortgagor or any other person is avoided or set aside or ordered to be surrendered, paid away, refunded or reduced by virtue of any provision, law or enactment relating to bankruptcy, insolvency, liquidation, winding-up, composition or arrangement for the time being in force or for any other reason, the Security Trustee shall be entitled thereafter to enforce this Deed as if no such discharge, release or settlement had occurred. (c) For that Collateral which has been transferred and registered under the name of the Security Trustee (as trustee for the Finance Parties) or its Nominee, the Security Trustee shall only be obliged to return the share certificate(s) then representing the Collateral not yet disposed of or realised by the Security Trustee pursuant to its powers under this Deed (but not the original share certificates originally delivered to the Security Trustee by the Mortgagor) with the instruments of transfer duly executed in favour of the Mortgagor or such other person as the Mortgagor may direct.

RELEASE AND TRANSFER. (a) The Security Trustee shall, upon the full performance and discharge of the Secured Obligations to the satisfaction of the Security Trustee and the Finance Parties, at the request and cost of the Mortgagor and in such form and with such conditions as the Security Trustee shall reasonably require, release and transfer and reassign (as appropriate) to the Mortgagor the Collateral. (b) Notwithstanding any discharge, release or settlement from time to time between the Security Trustee and the Mortgagor, if any security, disposition or payment granted or made to the Security Trustee in respect of the Secured Obligations by the Mortgagor or any other person is avoided or set aside or ordered to be surrendered, paid away, refunded or reduced by virtue of any provision, law or enactment relating to bankruptcy, insolvency, liquidation, winding-up, composition or arrangement for the time being in force or for any other reason, the Security Trustee shall be entitled thereafter to enforce this Deed as if no such discharge, release or settlement had occurred. (c) For that Collateral which has been transferred and registered under the name of the Security Trustee (as trustee for the Finance Parties) or its Nomineenominee, the Security Trustee shall only be obliged to return the share certificate(s) then representing the Collateral not yet disposed of or realised by the Security Trustee pursuant to its powers under this Deed (but not the original share certificates originally delivered to the Security Trustee by the Mortgagor) with the instruments of transfer duly executed in favour of the Mortgagor or such other person as the Mortgagor may direct.. [Mortgage of Shares]

RELEASE AND TRANSFER. (a) The Security Trustee shall, upon the full performance and discharge of the Secured Obligations to the satisfaction of the Security Trustee and the Finance PartiesLenders, at the request and cost of the Mortgagor Mortgagors and in such form and with such conditions as the Security Trustee shall reasonably requireapprove, release and transfer and reassign (as appropriate) to the Mortgagor Mortgagors the Collateral. (b) Notwithstanding any discharge, release or settlement from time to time between the Security Trustee and the any Mortgagor, if any security, disposition or payment granted or made to the Security Trustee in respect of the Secured Obligations by the any Mortgagor or any other person is avoided or set aside or ordered to be surrendered, paid away, refunded or reduced by virtue of any provision, law or enactment relating to bankruptcy, insolvency, liquidation, winding-up, composition or arrangement for the time being in force or for any other reason, the Security Trustee shall be entitled thereafter to enforce this Deed as if no such discharge, release or settlement had occurred. (c) For that Collateral which has been transferred and registered under the name of the Security Trustee (as trustee for the Finance Parties) or its Nomineenominee, the Security Trustee shall only be obliged to return the share certificate(s) then representing the Collateral not yet disposed of or realised by the Security Trustee pursuant to its powers under this Deed (but not the original share certificates [Group Share Mortgage] originally delivered to the Security Trustee by the relevant Mortgagor) with the instruments of transfer duly executed in favour of the relevant Mortgagor or such other person as the that Mortgagor may direct.