Release of Assignment Clause Samples
The Release of Assignment clause formally ends or cancels a previously granted assignment of rights or interests, typically in a contract or agreement. In practice, this clause is used when the party who received the assignment (the assignee) agrees to relinquish their rights back to the original party (the assignor) or to a third party, often after certain obligations have been fulfilled or upon mutual agreement. This mechanism is essential for clearing encumbrances or claims on assets, such as intellectual property or financial interests, thereby restoring full control to the original owner or facilitating new transactions without lingering claims.
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Release of Assignment. Upon payment in full of the Secured Debt and performance of all obligations secured hereby, this Lease Assignment shall become and be void.
Release of Assignment. (a) The Assignment shall terminate completely on the date the Corporation is paid its Premium Payments in accordance with the Agreement on account of the death of the Owner prior to termination of the Agreement or the termination of the Agreement prior to the date the Owner attained age sixty-five (65).
(b) The Assignment shall also terminate with respect to the Policy's cash surrender value on the date the Owner attains age sixty-five (65) (including any amounts subsequently credited under the Policy by the Insurer which are attributable to such released cash surrender value), provided, however, that the Assignment shall not be completely released with respect to the Policy until such date as may be provided in this Section 4.
(c) The Assignment shall terminate completely with respect to the Policy immediately following the date the last such additional annual payment is made to the Policy by the Corporation in accordance with Section 13 of the Agreement and the Corporation shall have no further obligations or rights with respect to the Policy.
(d) The Corporation shall release its Assignment under this Section 4 by executing and delivering to the Insurer an appropriate instrument of release.
Release of Assignment. We hereby acknowledge and confirm the release of the above described Continuing Guaranty and Assignment of Deposit.
Release of Assignment. When this Mortgage has been fully released, the last such release shall operate as a reassignment of all future rents, issues and profits of the Subject Property to the person or persons legally entitled thereto. Notwithstanding anything contained herein to the contrary, Mortgagee hereby agrees, subject to the provisions of Section 2.10 of the Loan Agreement, to release this Mortgage notwithstanding the fact that all of the Secured Obligations have not been satisfied.
Release of Assignment. Upon payment to the Assignee of its policy interest, the Assignee shall execute a written release of this assignment.
Release of Assignment. Upon payment to the Assignee, its successors and assigns, of the amount due under Article III of the Split Dollar Agreement, the Assignee, its successors and assigns shall execute a written release of this Agreement.
Release of Assignment. Upon the full payment of the Corporation's Collateral Interest in accordance with the terms and conditions of this Assignment and the Agreement, the Corporation shall release to the Owner, if the Owner retains the Policy in accordance with the Agreement, the Policy and all specific rights included in this Assignment.
Release of Assignment. Upon the full payment of the Corporation's --------------------- Collateral Interest in accordance with the terms and conditions of this Assignment and the Agreement, the Corporation shall release to the Owner, if the Owner retains the Policy in accordance with the Agreement, the Policy and all specific rights included in this Assignment.
Release of Assignment. Upon payment, performance and observance in full of Assignor's Liabilities, this Assignment shall be void and of no further force or effect and Assignee, upon the written request of Assignor, shall execute such documents, as may be reasonably requested by Assignor, to confirm the same; provided, however, that the certificate of any officer or agent of Assignee certifying that any of Assignor's Liabilities remain unsatisfied shall constitute conclusive evidence of the validity, effectiveness and continuing force of this Assignment and any Person may, and hereby is authorized to, rely thereon.
Release of Assignment. Upon payment, performance and observance in full of the Obligations and the termination of the obligations of Assignor under the Guaranty, this Assignment shall be void and of no further force or effect and Assignees, upon the written request of Assignor, shall execute such documents as reasonably may be requested by Assignor to confirm the same; provided, however, that a certificate of Assignees, accompanied by documentation evidencing any unfulfilled Obligation and certifying that any of the Obligations then owing remain unsatisfied, shall constitute conclusive evidence of the validity, effectiveness and continuing force of this Assignment and any person may, and hereby is authorized to, rely thereon.