Common use of Release of Grantor Clause in Contracts

Release of Grantor. This Security Agreement and all obligations of Grantor hereunder and all security interests granted hereby shall be released and terminated upon the indefeasible and final payment in full of the Obligations. Upon such release and termination, all rights in and to the Collateral shall automatically revert to Grantor, and Agent and the Lenders shall return any Collateral in their possession to Grantor, or to the Person or Persons legally entitled thereto, and shall endorse, execute, deliver, record and file all instruments and documents, and do all other acts and thing, reasonably required for the return of the Collateral to Grantor, or to the Person or Persons legally entitled thereto, and to evidence or document the release of the ratable benefit of Agent and Lenders arising under this Security Agreement, all at the expense of and as reasonably requested by Grantor.

Release of Grantor. This Security Agreement shall be terminated and all obligations Secured Obligations of Grantor hereunder and all security interests granted hereby shall be released and terminated when all Secured Obligations under the Guaranty have been paid in full, upon the indefeasible and final payment in full termination of the ObligationsGuaranty, or upon such release of Grantor's Secured Obligations hereunder. Upon such release and termination, all rights in and to termination the Collateral shall automatically revert to Grantor, and Agent and the Lenders Subordinated Secured Parties shall return any pledged Collateral in their possession to Grantor, or to the Person person or Persons persons legally entitled thereto, and shall endorse, execute, deliver, record and file all instruments and documents, and do all other acts and thing, things reasonably required for the return of the Collateral to Grantor, or to the Person person or Persons persons legally entitled thereto, and to evidence or document the release of the ratable benefit of Agent and Lenders Subordinated Secured Parties' interests arising under this Security Agreement, all at the expense of and as reasonably requested by by, and at the sole expense of, Grantor.