Common use of Release of Collateral Upon Satisfaction of Certain Secured Obligations Clause in Contracts

Release of Collateral Upon Satisfaction of Certain Secured Obligations. Upon receipt by the Closed-End Collateral Agent of Officer’s Certificates from each Secured Party stating that (a) all Secured Obligations owed (or deemed owed) to such Secured Party have been paid in full and, if applicable (b) its Commitment has been terminated, the Closed-End Collateral Agent shall (provided that the Borrower shall have made adequate provision for the reasonable expenses of the Closed-End Collateral Agent associated with such release of Collateral and all other amounts payable to the Collateral Agent under this Collateral Agency Agreement and the other Basic Documents) (i) execute and deliver to the Borrower such documents (including UCC termination statements) as shall be necessary to release all of the Collateral from the liens or security interest evidenced by the Collateral Documents, which documents shall be prepared by the Borrower and approved by the Closed-End Collateral Agent and (ii) deliver or cause to be delivered to the Borrower, without any representation, warranty or recourse of any kind whatsoever, all property, including all moneys, instruments and securities, of the Borrower then held by the Closed-End Collateral Agent.