Common use of Release of Grantor Clause in Contracts

Release of Grantor. This Agreement and all Secured Obligations of Grantor hereunder shall be released when all Secured Obligations have been paid in full in cash or otherwise performed in full and when no portion of the Commitment remains outstanding. Upon such release of Grantor’s Secured Obligations hereunder, Secured Party shall return and reassign any pledged Collateral 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 things, 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 Secured Party’s interests arising under this Agreement, all as reasonably requested by, and at the sole expense of, Grantor. Secured Party shall take all action as reasonably required to evidence or document the release of Secured Party’s interests to any Collateral which Grantor sells, transfers or otherwise disposes of as permitted under the terms of the Credit Agreement, at the sole expense of Grantor.

Release of Grantor. This Agreement and all Secured Obligations ------------------ of Grantor hereunder shall be released when all Secured Obligations have been paid in full in cash or otherwise performed in full and when no portion of the Commitment remains outstanding. Upon such release of Grantor’s 's Secured Obligations hereunder, Secured Party shall return and reassign any pledged Collateral 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 things, 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 Secured Party’s 's interests arising under this Agreement, all as reasonably requested by, and at the sole expense of, Grantor. The Secured Party shall take all action as reasonably required to evidence or document the release of the Secured Party’s 's interests to any Collateral which the Grantor sells, transfers or otherwise disposes of as permitted under the terms of the Credit Loan Agreement, at the sole expense of Grantor.