Common use of Release Upon Termination of the Company’s Obligations Clause in Contracts

Release Upon Termination of the Company’s Obligations. In the event that the Company delivers an Officers' Certificate certifying that all the obligations under this Indenture, the Securities and the Security Agreements have been satisfied and discharged by complying with the provisions of Article 8 or by the payment in full of the Company's obligations under the Securities, this Indenture and the Security Agreements, the Trustee shall deliver to the Company a notice stating that the Trustee, on behalf of the Holders, disclaims and gives up any and all rights it has in or to the Mortgaged Collateral, and any rights it has under the Security Agreements.

Appears in 2 contracts

Samples: Hallandale Commercial Corp., Indenture (Up Offshore (Holdings) Ltd.)

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Release Upon Termination of the Company’s Obligations. In the event that the Company delivers an Officers' Certificate certifying that all the obligations under this Indenture, the Securities and the Security Agreements have been satisfied and discharged by complying with the provisions of Article 8 or by the payment in full of the Company's obligations under the Securities, this Indenture and the Security Agreements, the Trustee shall deliver to the Company a notice stating that the Trustee, on behalf of the Holders, disclaims and gives up any and all rights it has in or to the Mortgaged Collateral, and any rights it has under the Security Agreements.

Appears in 2 contracts

Samples: Navigator Gas Iom I-E LTD, Navigator Gas Iom I-E LTD

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