Common use of Release Payment Clause in Contracts

Release Payment. (a) After the Termination Date (as defined below), this Deed of Trust shall terminate (provided that all indemnities set forth herein shall survive any such termination) and the Beneficiary, at the request and expense of the Trustor, will execute and deliver to the Trustor a proper instrument or instruments acknowledging the satisfaction and termination of this Deed of Trust. As used in this Deed of Trust, (i) "CA Termination Date" shall mean the date upon which the Total Commitment has been terminated, no Letter of Credit or Note under the Credit Agreement is outstanding and all other Credit Document Obligations have been paid in full in cash (other than arising from indemnities for which no request for payment has been made) and (ii) "Termination Date" shall mean the date upon which (x) the CA Termination Date shall have occurred and (y) if (but only if) a Notified Non-Credit Agreement Event of Default (as defined below) shall have occurred and be continuing on the CA Termination Date (and after giving effect thereto), either (I) such Notified Non-Credit Agreement Event of Default shall have been cured or waived by the requisite holders of the relevant Obligations subject to such Notified Non-Credit Agreement Event of Default or (II) all Secured Hedging Agreements (if any) giving rise to a Notified Non-Credit Agreement Event of Default shall have been terminated and all Obligations subject to such Notified Non-Credit Agreement Event of Default shall have been paid in full (other than arising from indemnities for which no request for payment has been made). As used herein "Notified Non-Credit Agreement Event of Default" means (i) the acceleration of the maturity of any New Senior Notes or Refinancing Senior Notes or the failure to pay at maturity any New Senior Notes or Refinancing Senior Notes, or the occurrence of any bankruptcy or insolvency Event of Default under the New Senior Notes Indenture or the Refinancing Senior Notes Indenture, or (ii) any Event of Default under a Secured Hedging Agreement, in the case of any event described in clause (i) or (ii) to the extent the New Senior Notes Trustee, the Refinancing Senior Notes Trustee or the relevant Hedging Creditor, as the case may be, has given written notice to the Beneficiary that a "Notified Non-Credit Agreement Event of Default" exists; provided that such written notice may only be given if such Event of Default is continuing and, provided further, that any such Notified Non-Credit Agreement Event of Default shall cease to exist (I) once there is no longer any Event of Default under the New Senior Notes Indenture, the Refinancing Senior Notes Indenture or the respective Secured Hedging Agreement, as the case may be, in existence, (II) in the case of an Event of Default under the New Senior Notes Indenture or the Refinancing Senior Notes Indenture, after all New Senior Notes Obligations or Refinancing Senior Notes Obligations, as the case may be, have been repaid in full, (III) in the case of an Event of Default under a Secured Hedging Agreement, such Secured Hedging Agreement has been terminated and all Hedging Obligations thereunder repaid in full, (IV) in the case of an Event of Default under the New Senior Notes Indenture or the Refinancing Senior Notes Indenture, if the New Senior Notes Creditors or the Refinancing Senior Notes Creditors, as the case may be, holding at least a majority of the aggregate principal amount of the outstanding new Senior Notes or the Refinancing Senior Notes, as the case may be, at such time have rescinded such written notice and (V) in the case of an Event of Default under a Secured Hedging Agreement, the requisite Hedging Creditors with Hedging Obligations thereunder at such time have rescinded such written notice.

Release Payment. (a) After the Termination Date (as defined below), this Deed of Trust to Secure Debt shall terminate (provided that all indemnities set forth herein shall survive any such termination) and the BeneficiaryGrantee, at the request and expense of the TrustorGrantor, will execute and deliver to the Trustor Grantor a proper instrument or instruments acknowledging to cancel and surrender the satisfaction estate and termination of interest created by this Deed of Trustto Secure Debt. As used in this Deed of Trustto Secure Debt, (i) "CA Termination Date" shall mean the date upon which the Total Commitment has been terminated, no Letter of Credit or Note under the Credit Agreement is outstanding and all other Credit Document Obligations have been paid in full in cash (other than arising from indemnities for which no request for payment has been made) and (ii) "Termination Date" shall mean the date upon which (x) the CA Termination Date shall have occurred and (y) if (but only if) a Notified Non-Credit Agreement Event of Default (as defined below) shall have occurred and be continuing on the CA Termination Date (and after giving effect thereto), either (I) such Notified Non-Credit Agreement Event of Default shall have been cured or waived by the requisite holders of the relevant Obligations subject to such Notified Non-Credit Agreement Event of Default or (II) all Secured Hedging Agreements (if any) giving rise to a Notified Non-Credit Agreement Event of Default shall have been terminated and all Obligations subject to such Notified Non-Credit Agreement Event of Default shall have been paid in full (other than arising from indemnities for which no request for payment has been made). As used herein "Notified Non-Credit Agreement Event of Default" means (i) the acceleration of the maturity of any New Existing Senior Notes or Refinancing Senior Notes or the failure to pay at maturity any New Existing Senior Notes or Refinancing Senior Notes, or the occurrence of any bankruptcy or insolvency Event of Default under the New Existing Senior Notes Indenture or the Refinancing Senior Notes Indenture, or (ii) any Event of Default under a Secured Hedging Agreement, in the case of any event described in clause (i) or (ii) to the extent the New Existing Senior Notes Trustee, the Refinancing Senior Notes Trustee or the relevant Hedging Creditor, as the case may be, has given written notice to the Beneficiary Grantee that a "Notified Non-Credit Agreement Event of Default" exists; provided that such written notice may only be given if such Event of Default is continuing and, provided further, that any such Notified Non-Credit Agreement Event of Default shall cease to exist (I) once there is no longer any Event of Default under the New Existing Senior Notes Indenture, the Refinancing Senior Notes Indenture or the respective Secured Hedging Agreement, as the case may be, in existence, (II) in the case of an Event of Default under the New Existing Senior Notes Indenture or the Refinancing Senior Notes Indenture, after all New Existing Senior Notes Obligations or Refinancing Senior Notes Obligations, as the case may be, have been repaid in full, (III) in the case of an Event of Default under a Secured Hedging Agreement, such Secured Hedging Agreement has been terminated and all Hedging Obligations thereunder repaid in full, (IV) in the case of an Event of Default under the New Existing Senior Notes Indenture or the Refinancing Senior Notes Indenture, if the New Existing Senior Notes Creditors or the Refinancing Senior Notes Creditors, as the case may be, holding at least a majority of the aggregate principal amount of the outstanding new Existing Senior Notes or the Refinancing Senior Notes, as the case may be, at such time have rescinded such written notice and (V) in the case of an Event of Default under a Secured Hedging Agreement, the requisite Hedging Creditors with Hedging Obligations thereunder at such time have rescinded such written notice.

Release Payment. (a) After the Termination Date (as defined below), this Deed of Trust To Secure Debt shall terminate (provided that all indemnities set forth herein shall survive any such termination) and the BeneficiaryGrantee, at the request and expense of the TrustorGrantor, will execute and deliver to the Trustor Grantor a proper instrument or instruments acknowledging to cancel and surrender the satisfaction estate and termination of interest created by this Deed of Trustto Secure Debt (without recourse and without representation or warranty). As used in this Deed of TrustTo Secure Debt, (i) "“CA Termination Date" ” shall mean the date upon which the Total Commitment has been terminated, no Letter of Credit or Note under the Credit Agreement is outstanding and all other Credit Document Obligations have been paid in full in cash (other than arising from indemnities for which no request for payment has been made) and (ii) "“Termination Date" ” shall mean the date upon which (x) the CA Termination Date shall have occurred and (y) if (but only if) a Notified Non-Credit Agreement Event of Default (as defined below) shall have occurred and be continuing on the CA Termination Date (and after giving effect thereto), either (I) such Notified Non-Credit Agreement Event of Default shall have been cured or waived by the requisite holders of the relevant Obligations subject to such Notified Non-Credit Agreement Event of Default or (II) all Secured Credit Card Agreements and all Secured Hedging Agreements (if any) giving rise to a Notified Non-Credit Agreement Event of Default shall have been terminated and all Obligations subject to such Notified Non-Credit Agreement Event of Default shall have been paid in full (other than arising from indemnities for which no request for payment has been made). As used herein "“Notified Non-Credit Agreement Event of Default" ” means (i) the acceleration of the maturity of any Existing Senior Notes, New Senior Notes or Refinancing Senior Notes or the failure to pay at maturity any Existing Senior Notes, New Senior Notes or Refinancing Senior Notes, or the occurrence of any bankruptcy or insolvency Event of Default under the Existing Senior Notes Indenture, the New Senior Notes Indenture or the Refinancing Senior Notes Indenture, (ii) any Event of Default under a Secured Credit Card Agreement or (iiiii) any Event of Default under a Secured Hedging Agreement, in the case of any event described in clause (i), (ii) or (iiiii) to the extent the Existing Senior Notes Trustee, New Senior Notes Trustee, the Refinancing Senior Notes Trustee Trustee, the relevant Hedging Creditor or the relevant Hedging CreditorCredit Card Issuer, as the case may be, has given written notice to the Beneficiary Grantee that a "“Notified Non-Credit Agreement Event of Default" ” exists; provided that such written notice may only be given if such Event of Default is continuing and, provided further, that any such Notified Non-Credit Agreement Event of Default shall cease to exist (I) once there Amended and Restated Deed to Secure Debt — Bxxx County, GA is no longer any Event of Default under the Existing Senior Notes Indenture, the New Senior Notes Indenture, the Refinancing Senior Notes Indenture Indenture, the respective Secured Credit Card Agreement or the respective Secured Hedging Agreement, as the case may be, in existence, (II) in the case of an Event of Default under the Existing Senior Notes Indenture, the New Senior Notes Indenture Indenture, or the Refinancing Senior Notes Indenture, after all Existing Senior Notes Obligations, New Senior Notes Obligations or Refinancing Senior Notes Obligations, as the case may be, have been repaid in full, (III) in the case of an Event of Default under a Secured Credit Card Agreement or a Secured Hedging Agreement, such Secured Hedging Agreement Agreement, as the case may be, has been terminated and all Credit Card Obligations or Hedging Obligations Obligations, as the case may be, thereunder have been repaid in full, (IV) in the case of an Event of Default under the Existing Senior Notes Indenture, New Senior Notes Indenture or the Refinancing Senior Notes Indenture, if the Existing Senior Notes Creditors, New Senior Notes Creditors or the Refinancing Senior Notes Creditors, as the case may be, holding at least a majority of the aggregate principal amount of the outstanding new Existing Senior Notes, New Senior Notes or the Refinancing Senior Notes, as the case may be, at such time have rescinded such written notice and (V) in the case of an Event of Default under a Secured Credit Card Agreement or a Secured Hedging Agreement, the requisite Credit Card Issuers with Credit Card Obligations or Hedging Creditors with Hedging Obligations thereunder at such time have rescinded such written notice.

Release Payment. (a) After the Termination Date (as defined below), this Deed of Trust shall terminate (provided that all indemnities set forth herein shall survive any such termination) and the Beneficiary, at the request and expense of the Trustor, will execute and deliver to the Trustor a proper instrument or instruments (without recourse and without representation or warranty) acknowledging the satisfaction and termination of this Deed of Trust. As used in this Deed of Trust, (i) "“CA Termination Date" ” shall mean the date upon which the Total Commitment has been terminated, no Letter of Credit or Note under the Credit Agreement is outstanding and all other Credit Document Obligations have been paid in full in cash (other than arising from indemnities for which no request for payment has been made) and (ii) "“Termination Date" ” shall mean the date upon which (x) the CA Termination Date shall have occurred and (y) if (but only if) a Notified Non-Credit Agreement Event of Default (as defined below) shall have occurred and be continuing on the CA Termination Date (and after giving effect thereto), either (I) such Notified Non-Credit Agreement Event of Default shall have been cured or waived by the requisite holders of the relevant Obligations subject to such Notified Non-Credit Agreement Event of Default or (II) all Secured Credit Card Agreements and all Secured Hedging Agreements (if any) giving rise to a Notified Non-Credit Agreement Event of Default shall have been terminated and all Obligations subject to such Notified Non-Credit Agreement Event of Default shall have been paid in full (other than arising from indemnities for which no request for payment has been made). As used herein "“Notified Non-Credit Agreement Event of Default" ” means (i) the acceleration of the maturity of any Existing Senior Notes, New Senior Notes or Refinancing Senior Notes or the failure to pay at maturity any Existing Senior Notes, New Senior Notes or Refinancing Senior Notes, or the occurrence of any bankruptcy or insolvency Event of Default under the Existing Senior Notes Indenture, the New Senior Notes Indenture or the Refinancing Senior Notes Indenture, (ii) any Event of Default under a Secured Credit Card Agreement or (iiiii) any Event of Default under a Secured Hedging Agreement, in the case of any event described in clause (i), (ii) or (iiiii) to the extent the Existing Senior Notes Trustee, New Senior Notes Trustee, the Refinancing Senior Notes Trustee Trustee, the relevant Hedging Creditor or the relevant Hedging CreditorCredit Card Issuer, as the case may be, has given written notice to the Beneficiary that a "“Notified Non-Credit Agreement Event of Default" ” exists; provided that such written notice may only be given if such Event of Default is continuing and, provided further, that any such Notified Non-Credit Agreement Event of Default shall cease to exist (I) once there is no longer any Event of Default under the Existing Senior Notes Indenture, the New Senior Notes Indenture, the Refinancing Senior Notes Indenture Indenture, the respective Secured Credit Card Agreement or the respective Secured Hedging Agreement, as the case may be, in existence, (II) in the case of an Event of Default under the Existing Senior Notes Indenture, the New Senior Notes Indenture Indenture, or the Refinancing Senior Notes Indenture, after all Existing Senior Notes Obligations, New Senior Notes Obligations or Refinancing Senior Notes Obligations, as the case may be, have been repaid in full, (III) in the case of an Event of Default under a Secured Credit Card Agreement or a Secured Hedging Agreement, such Secured Hedging Agreement Agreement, as the case may be, has been terminated and all Credit Card Obligations or Hedging Obligations Obligations, as the case may be, thereunder have been repaid in full, (IV) in the case of an Event of Default under the Existing Senior Not es Indenture, New Senior Notes Indenture or the Refinancing Senior Notes Indenture, if the Existing Senior Notes Creditors, New Senior Notes Creditors or the Refinancing Senior Notes Creditors, as the case may be, holding at least a majority of the aggregate principal amount of the outstanding new Existing Senior Notes, New Senior Notes or the Refinancing Senior Notes, as the case may be, at such time have rescinded such written notice Amended and Restated Deed of Trust — ______ County, NC and (V) in the case of an Event of Default under a Secured Credit Card Agreement or a Secured Hedging Agreement, the requisite Credit Card Issuers with Credit Card Obligations or Hedging Creditors with Hedging Obligations thereunder at such time have rescinded such written notice.