Release of Collateral and Termination. At such time as the Promissory Note has been paid in full, the Collateral shall be released from the Lien created hereby, and this Agreement shall terminate, all without delivery of any instrument or performance of any act by any party, and all rights to the Collateral shall revert to the Pledgor. Upon request of the Pledgor following any such termination, the Lender shall deliver (at the sole cost and expense of the Pledgor) to the Pledgor any Collateral held by the Lender hereunder, and execute and deliver (at the sole cost and expense of the Pledgor) to the Pledgor such documents as the Pledgor shall reasonably request to evidence such termination.
Appears in 3 contracts
Samples: Pledge Agreement (Strata Capital Corp), Pledge Agreement (Kleangas Energy Technologies, Inc.), Pledge Agreement (Eyes on the Go, Inc.)
Release of Collateral and Termination. At such time as the Convertible Promissory Note has been paid in full, the Collateral shall be released from the Lien created hereby, and this Agreement shall terminate, all without delivery of any instrument or performance of any act by any party, and all rights to the Collateral shall revert to the Pledgor. Upon request of the Pledgor following any such termination, the Lender Secured Party shall deliver (at the sole cost and expense of the Pledgor) to the Pledgor any Collateral held by the Lender Secured Party hereunder, and execute and deliver (at the sole cost and expense of the Pledgor) to the Pledgor such documents as the Pledgor shall reasonably request to evidence such termination.
Appears in 2 contracts
Samples: Pledge Agreement (Pinecrest Investment Group Inc), Pledge Agreement (Pinecrest Investment Group Inc)
Release of Collateral and Termination. At such time as the Promissory Note has been paid in full, the Collateral shall be released from the Lien created hereby, and this Agreement shall terminate, all without delivery of any instrument or performance of any act by any party, and all rights to the Collateral shall revert to the Pledgor. Upon request of the Pledgor following any such termination, the Lender Secured Party shall deliver (at the sole cost and expense of the Pledgor) to the Pledgor any Collateral held by the Lender Secured Party hereunder, and execute and deliver (at the sole cost and expense of the Pledgor) to the Pledgor such documents as the Pledgor shall reasonably request to evidence such termination.
Appears in 1 contract
Samples: Pledge Agreement (Milwaukee Iron Arena Football, Inc)
