Common use of Release of Security Interest in Assets Being Sold Clause in Contracts

Release of Security Interest in Assets Being Sold. If no Default shall have occurred and be continuing and no Enforcement Notice is in effect, upon any sale or other disposition of Collateral that does not violate Section 7.03(c) hereof, the Security Interests in such Collateral shall automatically be released and at the request of the relevant Grantor, the Agent shall execute and deliver a release of such specific assets pursuant to Section 25(f) of the Security Agreement.

Release of Security Interest in Assets Being Sold. If The Agent shallIf no Default shall have occurred and be continuing and no Enforcement Notice is in effect, upon any sale or other disposition of Collateral that does not violate Section 7.03(c) hereof, the Security Interests in such Collateral shall automatically be released and at the request of the relevant Grantor, the Agent shall execute and deliver a release of such specific assets (but not all or substantially all the Collateral) from the Security Interests pursuant to Section 25(f) of the Security AgreementAgreement if:.