Common use of Release; Termination of Agreement Clause in Contracts

Release; Termination of Agreement. Subject to the provisions of Section 18.12 hereof, this Agreement shall terminate (i) upon full and final payment and performance of the Secured Obligations (and upon receipt by the Collateral Agent of the Trustee's written certification that all such Obligations have been satisfied) and payment in full of all fees and expenses owing by the Pledgor to the Collateral Agent or (ii) upon Legal Defeasance of all of the Secured Obligations pursuant to Section 8.02 of the Senior Debenture Indenture (other than those surviving Obligations specified therein). At such time, the Collateral Agent shall, at the request of the Pledgor, reassign and redeliver to the Pledgor all of the Pledged Collateral hereunder that has not been sold, disposed of, retained or applied by the Collateral Agent in accordance with the terms hereof. Such reassignment and redelivery shall be without warranty by or recourse to the Collateral Agent, except as to the absence of any prior assignments by the Collateral Agent of its interest in the Pledged Collateral, and shall be at the expense of the Pledgor.

Appears in 2 contracts

Samples: Security and Pledge Agreement (Finlay Enterprises Inc /De), Indenture (Finlay Enterprises Inc /De)

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Release; Termination of Agreement. Subject to the provisions of Section 18.12 hereof, this (a) This Pledge Agreement shall terminate upon the earlier to occur of: (i) upon full and final payment and performance of the Secured Obligations (and upon receipt by the Collateral Agent of the TrusteePledgor's written certification that all such Obligations have been satisfied) and payment in full of all fees and expenses owing by the Pledgor to the Collateral Agent or Agent, (ii) upon the day of the Legal Defeasance of all of the Secured Obligations pursuant to Section 8.02 of the Senior Debenture Indenture (other than those surviving Obligations specified therein)) or (iii) such other termination date as is provided by the Indenture. At such time, the Collateral Agent shall, at the request of the Pledgor, reassign and redeliver to the Pledgor all of the Pledged Collateral hereunder that has not been sold, disposed of, retained or applied by the Collateral Agent in accordance with the terms hereof. Such reassignment and redelivery shall be without warranty by or recourse to the Collateral Agent, except as to the absence of any prior assignments by the Collateral Agent of its interest in the Pledged Collateral, and shall be at the expense of the PledgorPledgors.

Appears in 2 contracts

Samples: Pledge and Security Agreement (Unwired Telecom Corp), Pledge and Security Agreement (Unwired Telecom Corp)

Release; Termination of Agreement. Subject to the provisions of Section 18.12 hereof, this (a) This Agreement shall terminate upon the earlier to occur of (i) upon full and final payment and performance of the Secured Obligations (and upon receipt by the Collateral Agent of the Trustee's written certification that all such Obligations have been satisfied) and payment in full of all fees and expenses owing by the Pledgor to the Collateral Agent or Satisfaction Date, (ii) upon the latest of (x) the day of the Legal Defeasance of all of the Secured Obligations owing to the Holders pursuant to Section 8.02 of the Senior Debenture Indenture (other than those surviving Obligations owing to the Holders specified therein); and (y) the date of payment in full of all Obligations, and (iii) the later of (x) such other termination date as is provided in the Indenture and (y) the date of payment in full of all Obligations. At such time, the Collateral Agent shall, at the request of the PledgorAssignors, reassign and redeliver to the Pledgor Assignors all of the Pledged Collateral hereunder that has not been sold, disposed of, retained or applied by the Collateral Agent in accordance with the terms hereof. Such reassignment and redelivery shall be without warranty by or recourse to the Collateral Agent, except as to the absence of any prior assignments by the Collateral Agent of its interest in the Pledged Collateral, and shall be at the expense of the PledgorAssignors.

Appears in 1 contract

Samples: Security Agreement (Sterling Chemical Inc)

Release; Termination of Agreement. (a) Subject to the provisions of Section 18.12 hereof, this Agreement shall terminate (i) upon full and final payment and performance of the Secured Obligations (and upon receipt by the Collateral Agent of the TrusteePledgor's written certification that all such Obligations have been satisfied) and payment in full of all fees and expenses owing by the Pledgor to the Collateral Agent or (ii) upon on the day after the first anniversary of the Legal Defeasance of all of the Secured Obligations pursuant to Section 8.02 of the Senior Debenture Indenture (other than those surviving Obligations specified therein). At such time, the Collateral Agent shall, at the request of the Pledgor, reassign and redeliver to the Pledgor all of the Pledged Collateral hereunder that has not been sold, disposed of, retained or applied by the Collateral Agent in accordance with the terms hereof. Such reassignment and redelivery shall be without warranty by or recourse to the Collateral Agent, except as to the absence of any prior assignments by the Collateral Agent of its interest in the Pledged Collateral, and shall be at the expense of the Pledgor.

Appears in 1 contract

Samples: Pledge Agreement (MRS Fields Holding Co Inc)

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Release; Termination of Agreement. Subject to the provisions of Section 18.12 hereof, this (a) This Pledge Agreement shall terminate upon the earlier to occur of: (i) upon full and final payment and performance of the Secured Obligations (and upon receipt by the Collateral Agent of the Trustee's Pledgors' written certification that all such Obligations have been satisfied) and payment in full of all fees and expenses owing by the Pledgor Pledgors to the Collateral Agent or Agent, (ii) upon the day of the Legal Defeasance of all of the Secured Obligations pursuant to Section 8.02 of the Senior Debenture Indenture (other than those surviving Obligations specified therein)) or (iii) such other termination date as is provided by the Indenture. At such time, the Collateral Agent shall, at the request of the any Pledgor, reassign and redeliver to the such Pledgor all of the Pledged Collateral hereunder that has not been sold, disposed of, retained or applied by the Collateral Agent in accordance with the terms hereof. Such reassignment and redelivery shall be without warranty by or recourse to the Collateral Agent, except as to the absence of any prior assignments by the Collateral Agent of its interest in the Pledged Collateral, and shall be at the expense of the such Pledgor.

Appears in 1 contract

Samples: Stock Pledge and Security Agreement (Sterling Chemical Inc)

Release; Termination of Agreement. Subject to the provisions of Section 18.12 hereof, this (a) This Pledge Agreement shall terminate upon the earlier to occur of: (i) upon full and final payment and performance of the Secured Obligations (and upon receipt by the Collateral Agent of the TrusteePledgor's written certification that all such Obligations have been satisfied) and payment in full of all fees and expenses owing by the Pledgor Pledgors to the Collateral Agent or Agent, (ii) upon the day of the Legal Defeasance of all of the Secured Obligations pursuant to Section 8.02 of the Senior Debenture Indenture (other than those surviving Obligations specified therein)) or (iii) such other termination date as is provided by the Indenture. At such time, the Collateral Agent shall, at the request of the any Pledgor, reassign and redeliver to the such Pledgor all of the Pledged Collateral hereunder that has not been sold, disposed of, retained or applied by the Collateral Agent in accordance with the terms hereof. Such reassignment and redelivery shall be without warranty by or recourse to the Collateral Agent, except as to the absence of any prior assignments by the Collateral Agent of its interest in the Pledged Collateral, and shall be at the expense of the PledgorPledgors.

Appears in 1 contract

Samples: Stock Pledge and Security Agreement (Sterling Chemical Inc)

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