Common use of Security Interest of Agent Ceases Upon Permitted Dispositions Clause in Contracts

Security Interest of Agent Ceases Upon Permitted Dispositions. The Debtor may sell or realize upon or transfer or otherwise dispose of Collateral only to the extent permitted by Section 4.13, and the security interests of the Agent in such Collateral so sold, realized upon or disposed of (but not in the Proceeds arising from such sale, realization or disposition) shall cease immediately upon such sale, realization or disposition, without any further action on the part of the Agent. The Agent, if requested in writing by the Debtor but at the expense of the Debtor, is hereby authorized and instructed to deliver to the Account Debtor or the purchaser or other transferee of any such Collateral a certificate stating that the Agent no longer has a security interest therein, and such Account Debtor or such purchaser or other transferee shall be entitled to rely conclusively on such certificate for any and all purposes.

Security Interest of Agent Ceases Upon Permitted Dispositions. The Debtor may sell or realize upon or transfer or otherwise dispose of Collateral only to the extent permitted by Section 4.13, and the security interests of the Agent in such Collateral so sold, realized upon or disposed of (but not in the Proceeds arising from such sale, realization or disposition) shall cease immediately upon such sale, realization or disposition, without any further action on the part of the Agent. The Agent, if requested in writing by the Debtor but at the expense of the Debtor, is hereby authorized and instructed to deliver to the Account Debtor or the purchaser or other transferee of any such Collateral a certificate stating that the Agent no longer has a security interest therein, and such Account Debtor or such purchaser or other transferee shall be entitled to rely conclusively on such certificate for any and all purposes.purchaser