Common use of RELEASE AND TRANSFER Clause in Contracts

RELEASE AND TRANSFER. (a) The Security Trustee shall, at the request and cost of the Chargor and in such form as the Security Trustee shall reasonably approve, release and transfer to the Chargor the Collateral upon the full performance and discharge of the Secured Obligations to the reasonable satisfaction of the Security Trustee and the Finance Parties. (b) Notwithstanding any discharge, release or settlement from time to time between the Security Trustee and/or any other Finance Party and the Chargor, if any security, disposition or payment granted or made to the Security Trustee and/or any other Finance Party in respect of the Secured Obligations by the Chargor 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.