Common use of Satisfaction and Cancelation Clause in Contracts

Satisfaction and Cancelation. (a) This Mortgage shall continue in effect until (i) the Term Loan Credit Agreement has terminated pursuant to its express terms and (ii) all of the Specified Obligations have been indefeasibly paid and performed in full. (b) Subject to the terms of the Security Agreement, upon any sale or other transfer by Mortgagor of the Mortgaged Property that is permitted under Section 4.1(d) of the Security Agreement to any Person that is not another Grantor or, upon the effectiveness of any written consent to the release of the security interest granted hereby in the Mortgaged Property pursuant to Section 10.02 of the Term Loan Credit Agreement, the security interest in the Mortgaged Property shall be automatically released. (c) In connection with any termination or release pursuant to paragraph (a) or (b), the Mortgage shall be marked “satisfied” by the Mortgagee, and this Mortgage shall be canceled of record at the request and at the expense of the Mortgagor. Mortgagee shall execute any documents reasonably requested by Mortgagor to accomplish the foregoing or to accomplish any release contemplated by this Section 3.04 and Mortgagor will pay all costs and expenses, including reasonable attorneys’ fees, disbursements and other charges, incurred by Mortgagee in connection with the preparation and execution of such documents.

Satisfaction and Cancelation. (a) This Mortgage shall continue in effect (notwithstanding the fact that from time to time there may be no Secured Obligations outstanding) until (i) the Term Loan Credit Agreement has terminated pursuant to its express terms and (ii) all of the Specified Secured Obligations have been indefeasibly paid and performed in fullfull (or with respect to any outstanding Letters of Credit, have been cash collateralized as required by the Credit Agreement) and no commitments of the Agent or the Lenders which would give rise to any Secured Obligations are outstanding. (b) Subject to the terms of the Security Agreement, upon Upon any sale or other transfer by Mortgagor of the Mortgaged Property that is permitted under Section 4.1(d) of the Security Agreement to any Person that is not another Grantor or, upon the effectiveness of any written consent to the release of the security interest granted hereby in the Mortgaged Property pursuant to Section 10.02 9.02 of the Term Loan Credit Agreement, the security interest in the Mortgaged Property shall be automatically released. (c) In connection with any termination or release pursuant to paragraph (a) or (b), the Mortgage shall be marked “satisfied” by the Mortgagee, and this Mortgage shall be canceled of record at the request and at the expense of the Mortgagor. Mortgagee shall execute any documents reasonably requested by Mortgagor to accomplish the foregoing or to accomplish any release contemplated by this Section 3.04 and Mortgagor will pay all costs and expenses, including reasonable attorneys’ fees, disbursements and other charges, incurred by Mortgagee in connection with the preparation and execution of such documents.