Common use of Releases and Termination Clause in Contracts

Releases and Termination. This Agreement and the security interest granted hereby shall terminate when all the Obligations have been indefeasibly paid in full, the Lenders have no further commitment to lend, the LC Exposure has been reduced to zero and the Issuing Bank has no further commitment to issue Letters of Credit under the Credit Agreement. Upon such Termination, the Collateral Agent shall execute and deliver to the Grantors, at the Grantors' expense, all Uniform Commercial Code termination statements and similar documents which the Grantors shall reasonably request to evidence such termination. Any execution and delivery of termination statements or documents pursuant to this Section 7.15 shall be without recourse to or warranty by the Collateral Agent. A Subsidiary Grantor shall automatically be released from its obligations hereunder and the security interest in the Collateral of such Subsidiary Grantor shall be automatically released in the event that all the Equity Interests of such Subsidiary Grantor shall be sold, transferred or otherwise disposed of to a person other than Holdings, the Borrower or an Affiliate of Holdings in a transaction permitted under the terms of the Credit Agreement. Any Collateral granted hereunder shall be released (automatically and without further action on the part of the Collateral Agent) upon the sale, transfer or other disposition of such Collateral to a transferee other than Holdings, the Borrower or an Affiliate of Holdings, to the extent that such sale, transfer or other disposition is permitted under the Credit Agreement.

Releases and Termination. This Agreement and the security ------------------------ interest granted hereby shall terminate when all the Obligations have been indefeasibly paid in full, the Lenders have no further commitment to lend, the LC Exposure has been reduced to zero and the Issuing Bank has no further commitment to issue Letters of Credit under the Credit Agreement. Upon such Termination, the Collateral Agent shall execute and deliver to the GrantorsPledgors, at the GrantorsPledgors' expense, all Uniform Commercial Code termination statements and similar documents which the Grantors Pledgors shall reasonably request to evidence such termination. Any execution and delivery of termination statements or documents pursuant to this Section 7.15 13 shall be without recourse to or warranty by the Collateral Agent. A Subsidiary Grantor Pledgor shall automatically be released from its obligations hereunder and the security interest in the Collateral of such Subsidiary Grantor Pledgor shall be automatically released in the event that all the Equity Interests of such Subsidiary Grantor Pledgor shall be sold, transferred or otherwise disposed of to a person other than Holdings, the Borrower or an Affiliate of Holdings in a transaction permitted under the terms of the Credit Agreement. Any Collateral granted hereunder shall be released (automatically and without further action on the part of the Collateral Agent) upon the sale, transfer or other disposition of such Collateral to a transferee other than Holdings, the Borrower or an Affiliate of Holdings, to the extent that such sale, transfer or other disposition is permitted under the Credit Agreement.

Releases and Termination. This Agreement and the security interest granted hereby shall terminate when all the Obligations have been indefeasibly paid in full, the Lenders have no further commitment to lend, the LC Exposure has been reduced to zero and the Issuing Bank has no further commitment to issue Letters of Credit under the Credit Agreement. Upon such Termination, the Collateral Agent shall execute and deliver to the GrantorsPledgors, at the GrantorsPledgors' expense, all Uniform Commercial Code termination statements and similar documents which the Grantors Pledgors shall reasonably request to evidence such termination. Any execution and delivery of termination statements or documents pursuant to this Section 7.15 13 shall be without recourse to or warranty by the Collateral Agent. A Subsidiary Grantor Pledgor shall automatically be released from its obligations hereunder and the security interest in the Collateral of such Subsidiary Grantor Pledgor shall be automatically released in the event that all the Equity Interests of such Subsidiary Grantor Pledgor shall be sold, transferred or otherwise disposed of to a person other than Holdings, the Borrower or an Affiliate of Holdings in a transaction permitted under the terms of the Credit Agreement. Any Collateral granted hereunder shall be released (automatically and without further action on the part of the Collateral Agent) upon the sale, transfer or other disposition of such Collateral to a transferee other than Holdings, the Borrower or an Affiliate of Holdings, to the extent that such sale, transfer or other disposition is permitted under the Credit Agreement.

Releases and Termination. This Agreement and the security ------------------------ interest granted hereby shall terminate when all the Obligations have been indefeasibly paid in full, the Lenders have no further commitment to lend, the LC Exposure has been reduced to zero and the Issuing Bank has no further commitment to issue Letters of Credit under the Credit Agreement. Upon such Termination, the Collateral Agent shall execute and deliver to the Grantors, at the Grantors' expense, all Uniform Commercial Code termination statements and similar documents which the Grantors shall reasonably request to evidence such termination. Any execution and delivery of termination statements or documents pursuant to this Section 7.15 shall be without recourse to or warranty by the Collateral Agent. A Subsidiary Grantor shall automatically be released from its obligations hereunder and the security interest in the Collateral of such Subsidiary Grantor shall be automatically released in the event that all the Equity Interests of such Subsidiary Grantor shall be sold, transferred or otherwise disposed of to a person other than Holdings, the Borrower or an Affiliate of Holdings in a transaction permitted under the terms of the Credit Agreement. Any Collateral granted hereunder shall be released (automatically and without further action on the part of the Collateral Agent) upon the sale, transfer or other disposition of such Collateral to a transferee other than Holdings, the Borrower or an Affiliate of Holdings, to the extent that such sale, transfer or other disposition is permitted under the Credit Agreement.