Common use of Release of the Grantors Clause in Contracts

Release of the Grantors. This Agreement and all obligations of each Grantor hereunder and all security interests granted hereby shall terminate and be released when all Notes and all other obligations of the Grantors under or in respect of the Operative Documents have been paid in full. Upon such termination and release all rights in and to the Collateral granted or pledged by the Grantors hereunder shall automatically revert to the Grantors, and the Agent shall return any pledged Collateral in its possession to the Grantors, 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 the Grantors, or to the Person or Persons legally entitled thereto, and to evidence or document the release of the interests of the Agent arising under this Agreement, all as reasonably requested by, and at the sole expense of, the Grantors.

Release of the Grantors. This Agreement and all obligations of each Grantor hereunder and all security interests granted hereby shall terminate and be released when all Notes and all other obligations of the Grantors under or in respect of the Operative Documents and the Purchase Agreement have been paid in full. Upon such termination and release all rights in and to the Collateral granted or pledged by the Grantors hereunder shall automatically revert to the Grantors, and the Agent shall return any pledged Collateral in its possession to the Grantors, 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 the Grantors, or to the Person or Persons legally entitled thereto, and to evidence or document the release of the interests of the Agent arising under this Agreement, all as reasonably requested by, and at the sole expense of, the Grantors.

Release of the Grantors. This Agreement and all obligations of each Grantor hereunder and all security interests granted hereby shall terminate and be released and terminated when all Notes and all Obligations (other obligations of the Grantors under or in respect of the Operative Documents than inchoate indemnity obligations) have been paid in fullfull in cash and when the Credit Guaranty has been terminated. Upon such release and termination of all such Obligations and release the security interest hereunder, all rights in and to the Collateral granted or pledged by the Grantors hereunder shall automatically revert to the Grantors, and the Agent shall return any pledged Collateral in its their possession to the Grantors, 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 the Grantors, or to the Person or Persons legally entitled thereto, and to evidence or document the release of the interests of the Agent arising under this Agreement, all as reasonably requested by, and at the sole expense of, the Grantors.