SUBSTITUTION OF SECURITY. At any time while this Agreement is in effect, Debtor shall have the right to post an irrevocable letter of credit in substitution for this Agreement in an amount equal to the then outstanding balance of the Obligations and containing such terms as are reasonably acceptable to Secured Party, and upon such posting Secured Party shall discharge all security interests with respect to the Collateral.
Appears in 7 contracts
Samples: Security Agreement (GlyEco, Inc.), Security Agreement (GlyEco, Inc.), Security Agreement (GlyEco, Inc.)
