Termination of Mortgage. (a) Upon the Mortgage Termination Date, the Grantor shall have the right to terminate this Mortgage (provided that all indemnities set forth herein shall survive) and the Security Trustee, at the request and expense of the Grantor, will promptly execute and deliver to the Grantor a proper instrument or instruments acknowledging the satisfaction and termination of this Mortgage, and, subject to the terms of the Loan Documents, will duly assign, transfer and deliver to the Grantor (without recourse and without any representation or warranty) such of its Collateral as may be in the possession of the Security Trustee and as has not theretofore been sold or otherwise applied or released pursuant to this Mortgage.
(b) Upon (i) any disposition or sale of any Engine that is permitted under Section 5.12 of the Credit Agreement, (ii) the release of any Engine pursuant to Section 3.05(a) of this Mortgage, (iii) the payment in full in cash of the Secured Obligations relating to any Engine, the Commitments being terminated and provided no Event of Default has occurred and is continuing or (iv) the effectiveness of any written consent by the Security Trustee or the Required Lenders as provided under the Loan Documents to the release of any Collateral from the Lien granted hereby, such Engine, and any Warranty Rights, Requisition, Disposition and Insurance Proceeds, Cash Collateral, Title Rights and Acquisition Rights related thereto, shall be released from the Lien granted under this Mortgage.
(c) In connection with any release of any Collateral pursuant to this Section 5.01, the Security Trustee will promptly execute and deliver to the Grantor, at the Grantor’s sole expense, all appropriate U.C.C. termination statements and other documents that the Grantor shall reasonably request to evidence such release and shall take necessary action to permit the Grantor to register with the International Registry the discharge of the International Interest created by this Mortgage in such released Collateral. The Security Trustee shall have no liability whatsoever to any Secured Party as a result of any release of Collateral by it as permitted by this Section 5.01. The release of an Engine from the Lien of this Mortgage shall have the effect without further action of releasing all other Collateral, including the related Engine Documents, respectively, relating to such Engine.
Termination of Mortgage. If all of the Obligations secured hereby shall be paid and performed in full, then, and in that event only, all rights under this Mortgage shall terminate and the Mortgaged Property shall become wholly clear of the liens, security interests, conveyances and assignments evidenced hereby. Notwithstanding the foregoing, no release of this Mortgage or the lien thereof or assignment of this Mortgage, shall be valid unless executed by Mortgagee.
Termination of Mortgage. Upon (or at any time after) payment in full of the Original Amount of, Make-Whole Amount, if any, and interest on and all other amounts due under all Equipment Notes and provided that there shall then be no other Secured Obligations due to the Mortgage Indemnitees, the Note Holders and Loan Trustee hereunder or under the Participation Agreement, Owner Trustee shall direct Loan Trustee to execute and deliver to or as directed in writing by Owner Trustee an appropriate instrument releasing the Aircraft and the Engines from the Lien of this Mortgage and releasing the Lease, the Guarantee, the Purchase Agreement, the Purchase Agreement Assignment with the Consent and Agreement attached thereto, and the Engine Warranty Assignment with the Engine Consent and Agreement attached thereto from the assignment and pledge thereof hereunder and Loan Trustee shall execute and deliver such instrument as aforesaid and give written notice thereof to Lessee; provided, that this Mortgage and the trusts created hereby shall earlier terminate and this Mortgage shall be of no further force or effect upon any sale or other final disposition by Loan Trustee of all property constituting part of the Collateral and the final distribution by Loan Trustee of all money or other property or proceeds constituting part of the Collateral in accordance with the terms hereof. Except as aforesaid otherwise provided, this Mortgage and the trusts created hereby shall continue in full force and effect in accordance with the terms hereof.
Termination of Mortgage. Upon (or at any time after) payment in full of the Original Amount of, interest on, any Breakage Amount and all other amounts due under all Equipment Notes, and provided that no other Secured Obligations are then due and payable, upon the written request of Borrower, Security Agent shall execute and deliver to or as directed in writing by Borrower an appropriate instrument(s) releasing the Aircraft and the Engines and all other Collateral from the Lien of the Mortgage and discharging from the International Registry the registration of the International Interest created by this Mortgage (and any other registered interests in favor of Security Agent), and Security Agent shall execute and deliver such instrument(s); provided, that this Mortgage shall earlier terminate, and this Mortgage shall be of no further force or effect, upon any sale or other final disposition by Security Agent of all property constituting part of the Collateral, and Security Agent’s final distribution of all money or other property or proceeds constituting part of the Collateral in accordance with the terms hereof. Except as otherwise provided in this Section 8.1, this Mortgage shall continue in full force and effect in accordance with the terms hereof.
Termination of Mortgage. So long as no Subordinated Default or Subordinated Event of Default shall have occurred and be continuing and subject to Section 7.01(b) below, upon (or at any time after) the later of (i) payment in full of the Loans and all other Senior Obligations, or (ii) the Maturity Date (or if on the later of the dates set forth in the preceding clauses (i) and (ii), a case is pending under the Bankruptcy Code in which the Company is a debtor, then (x) if such case is under Chapter 11 of the Bankruptcy Code, upon effectiveness of the Company’s plan of reorganization in such Chapter 11 case if no Obligations are then due and unpaid, or (y) if clause (x) is not applicable, at such time as all Obligations that are allowed claims (within the meaning of Section 502 of the Bankruptcy Code) in such case and secured under this Mortgage have been paid in full), the Secured Party shall, upon the written request of the Company execute and deliver to, or as directed in writing by, the Company an appropriate instrument (in due form for recording) releasing the Pledged Spare Parts and the balance of the Collateral from the Lien of this Mortgage and, in such event, this Mortgage shall terminate and this Mortgage shall be of no further force or effect. If, upon the later of the dates determined in accordance with the first sentence of this Section 7.01(a) (after giving effect to any extension resulting from the parenthetical set forth following subclause (ii) above), any Subordinated Default shall have occurred and be continuing, then (A) if such Subordinated Default is fully cured by the Company prior to the expiration of the grace period applicable to such Subordinated Default, then the Secured Party shall release this Mortgage and the Collateral from the Lien of this Mortgage promptly following such cure, and (B) if such Subordinated Default matures into a Subordinated Event of Default as a result of the Borrower’s failure to cure within the applicable grace period(s), then, as long as such Subordinated Event of Default is continuing, the Secured Party shall have and may exercise any and all rights contemplated by Article 4 hereof and applicable law.
Termination of Mortgage. (a) This Mortgage shall terminate upon payment and performance in full of the Obligations hereby secured and shall be released as to an Engine or other Collateral to the extent expressly permitted hereby and by the Credit Agreement. Upon termination, the Grantor may request, at its sole cost and expense, the Collateral Agent to execute and deliver to or as directed in writing by the Grantor an appropriate instrument reasonably required to release the Collateral from the Lien of this Mortgage and the Collateral Agent shall execute and deliver such instrument as aforesaid at the Grantor’s expense. Except as aforesaid otherwise provided, this Mortgage and the trusts created hereby shall continue in full force and effect in accordance with the terms hereof.
(b) At any time that the Grantor desires that the Collateral be released as provided in the foregoing Section 5.01(a), it shall deliver to the Collateral Agent a certificate signed by an authorized officer stating that the release of the respective Collateral is permitted pursuant to Section 5.01(a) hereof and the Credit Agreement. The Collateral Agent shall have no liability whatsoever to any Secured Party as the result of any release of Collateral by it as permitted by Section 5.01(a) hereof.
Termination of Mortgage. If the whole amount of the Note including all amendments or substitutions, (principal and interest) shall be paid in accordance with its terms and the terms of this Mortgage, and all other sums that may have become secured by the lien of this Mortgage shall be paid, then this Mortgage and the estate and rights hereunder shall cease, terminate and be void; and the Government shall prepare and deliver to Borrower proper instruments acknowledging satisfaction of and discharging this Mortgage.
Termination of Mortgage. 20 Section 7.02. Alterations to Mortgage.............................................. 20 Section 7.03. No Legal Title to Collateral......................................... 20 Section 7.04. Sale of the Engines by Security Trustee Is Binding................... 20 Section 7.05.
Termination of Mortgage. Upon (or at any time after) payment in full of the Original Amount of, Make-Whole Amount (if any) on, interest on, and all other amounts due under all Equipment Notes, and provided that no other Secured Obligations are then due to the Mortgage Indemnitees, the Note Holders, and Mortgagee hereunder or under the Participation Agreement or other Operative Agreement, Owner shall direct Mortgagee to execute and deliver to or as directed in writing by Owner an appropriate instrument releasing the Aircraft and the Engines and all other Collateral from the Lien of the Mortgage, and Mortgagee shall execute and deliver such instrument; provided, that this Mortgage and the trusts created hereby shall earlier terminate, and this Mortgage shall be of no further force or effect, upon any sale or other final disposition by Mortgagee of all property constituting part of the Collateral, and Mortgagee's final distribution of all money or other property or proceeds constituting part of the Collateral in accordance with the terms hereof. Except as otherwise provided in this (S) 11.01, this Mortgage and the trusts created hereby shall continue in full force and effect in accordance with the terms hereof.
Termination of Mortgage. If the whole amount of the Note and the Guaranteed Note, including all amendments or substitutions to either, (principal and interest) shall be paid in accordance with its terms and the terms of this Mortgage, and all other sums that may have become secured by the lien of this Mortgage shall be paid, then this Mortgage and the estate and rights hereunder shall cease, terminate and be void; and the GOVERNMENT, at the request of BORROWER and at BORROWER's cost and expense, shall execute on forms prepared by BORROWER which are satisfactory to the GOVERNMENT, and deliver to BORROWER proper instruments acknowledging satisfaction of and discharging this Mortgage.
