Common use of Release or Reconveyance Clause in Contracts

Release or Reconveyance. Upon payment in full of the Indebtedness and performance in full of the Obligations, the conveyance of the Trust Property to Trustee under this Deed of Trust shall be null and void, and upon Grantor’s request, Trustee and Beneficiary, at Grantor’s expense, shall release and cancel of record the liens and security interests created by this Deed of Trust or reconvey the Trust Property to Grantor. In addition, as long as no Event of Default has occurred and is then continuing or would be caused thereby, if Grantor sells or transfers for value any portion of the Trust Property as permitted under the Credit Agreement, Beneficiary and Trustee shall release the liens and security interests created by this Deed of Trust on such Trust Property or reconvey such Trust Property to Grantor, concurrently with the consummation of such sale or other transfer. Such release or reconveyance shall be at Grantor’s sole cost and expense, and only upon not less than thirty days’ prior written notice to Beneficiary.

Release or Reconveyance. Upon payment in full of the ----------------------- Indebtedness and performance in full of the Obligations, the conveyance of the Trust Property to Trustee under this Deed of Trust shall be null and void, and upon Grantor’s 's request, Trustee and Beneficiary, at Grantor’s 's expense, shall release and cancel of record the liens and security interests created by this Deed of Trust or reconvey the Trust Property to Grantor. In addition, as long as no Event of Default has occurred and is then continuing or would be caused thereby, if Grantor sells or transfers for value any portion of the Trust Property as permitted under Section 7.7 of the Credit ----------- Agreement, Beneficiary and Trustee shall release the liens and security interests created by this Deed of Trust on such Trust Property or reconvey such Trust Property to Grantor, concurrently with the consummation of such sale or other transfer. Such release or reconveyance shall be at Grantor’s 's sole cost and expense, and only upon not less than thirty days’ ' prior written notice to Beneficiary.