Common use of RELEASE OF PLEDGE (PFANDFREIGABE Clause in Contracts

RELEASE OF PLEDGE (PFANDFREIGABE. 15.1 Upon complete and irrevocable satisfaction of the Obligations, the Collateral Agent (as instructed in accordance with the First Lien Intercreditor Agreement) will as soon as reasonably practicable declare in writing the release of the Pledge (Pfandfreigabe) to the Pledgor as a matter of record. For the avoidance of doubt, the parties are aware that upon full and complete satisfaction of the Obligations the Pledge, due to its accessory nature (Akzessorietät) cease to exist by operation of German mandatory law.

RELEASE OF PLEDGE (PFANDFREIGABE. 15.1 Upon complete and irrevocable satisfaction of the Obligations, the Collateral Agent (as instructed in accordance with the First Lien Intercreditor Agreement) will as soon as reasonably practicable declare in writing the release of the Pledge Pledges (PfandfreigabePfandfreigabe ) to the Pledgor as a matter of record. For the avoidance of doubt, the parties are aware that upon full and complete satisfaction of the Obligations the PledgePledges, due to its their accessory nature (Akzessorietät) Akzessorietat ), cease to exist by operation of German mandatory law.

RELEASE OF PLEDGE (PFANDFREIGABE. 15.1 14.1 Upon complete and irrevocable satisfaction of the Obligations, the Collateral Agent (as instructed in accordance with the First Lien Intercreditor Agreement) will as soon as reasonably practicable declare in writing the release of the Pledge Pledges (Pfandfreigabe) to the Pledgor as a matter of record. For the avoidance of doubt, the parties are aware that upon full and complete satisfaction of the Obligations the PledgePledges, due to its their accessory nature (Akzessorietät) cease to exist by operation of German mandatory law.

RELEASE OF PLEDGE (PFANDFREIGABE. 15.1 14.1 Upon complete and irrevocable satisfaction of the Obligations, the Collateral Agent (as instructed in accordance with the First Lien Intercreditor Agreement) will as soon as reasonably practicable declare in writing the release of the Pledge (Pfandfreigabe) to the Pledgor as a matter of record. For the avoidance of doubt, the parties are aware that upon full and complete satisfaction of the Obligations the Pledge, due to its accessory nature (Akzessorietät) cease to exist by operation of German mandatory law.

RELEASE OF PLEDGE (PFANDFREIGABE. 15.1 Upon complete and irrevocable satisfaction of the Obligations, the Collateral Agent (as instructed in accordance with the First Lien Intercreditor Agreement) will as soon as reasonably practicable declare in writing the release of the Pledge (Pfandfreigabe) to the Pledgor as a matter of record. For the avoidance of doubt, the parties are aware that upon full and complete satisfaction of the Obligations the Pledge, due to its accessory nature (Akzessorietät) cease ceases to exist by operation of German mandatory law.

RELEASE OF PLEDGE (PFANDFREIGABE. 15.1 Upon complete and irrevocable satisfaction of the Obligations, the Collateral Agent (as instructed in accordance with the First Lien Intercreditor Agreement) will as soon as reasonably practicable declare in writing the release of the Pledge Pledges (Pfandfreigabe) to the Pledgor Pledgors as a matter of record. For the avoidance of doubt, the parties are aware that upon full and complete satisfaction of the Obligations the PledgePledges, due to its accessory nature (Akzessorietät) cease to exist by operation of German mandatory law.

RELEASE OF PLEDGE (PFANDFREIGABE. 15.1 Upon complete and irrevocable satisfaction of the Obligations, the Collateral Agent (as instructed in accordance with the First Lien Intercreditor Agreement) will as soon as reasonably practicable declare in writing the release of the Pledge Pledges (Pfandfreigabe) to the Pledgor Pledgors as a matter of record. For the avoidance of doubt, the parties are aware that upon full and complete satisfaction of the Obligations the PledgePledges, due to its their accessory nature (Akzessorietät) cease to exist by operation of German mandatory law.