Common use of Release of Charged Property Clause in Contracts

Release of Charged Property. If SEOCH is satisfied that:- (i) all Secured Sums have been paid or discharged in full and the SEOCH Participantship of the SEOCH Participant has been terminated in accordance with the Clearing Rules; or (ii) a Security Interest or a guarantee for the Secured Sums, in each case acceptable to SEOCH, has been provided in substitution for this deed, then, subject to clause 18.2, SEOCH shall at the request and cost of the SEOCH Participant release, re-assign or discharge (as appropriate) the Charged Property from this Charge.