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 (other than (A) contingent indemnification obligations as to which no claim has been asserted and (B) obligations and liabilities under Secured Cash Management Agreements and Secured Hedge Agreements), upon a sale or other disposition of the Mortgaged Property, or any portion thereof, permitted by the Credit Agreement (including as a result of the sale of the Equity Interests of the Mortgagor) or the Mortgagor becoming and Excluded Subsidiary, Mortgagee, at Mortgagor’s request and expense, shall promptly release the liens and security interests created by this Mortgage or reconvey the Mortgaged Property to Mortgagor with respect to the portion of the Mortgaged Property so released or reconveyed.