Termination of Mortgage. (a) This Mortgage shall terminate on the date (the “Obligations Payment Date”) on which the Obligations (other than contingent indemnification obligations not due and payable) have been performed and paid in cash in full in accordance with the terms of the Loan Documents. Upon termination, Owner may request, at Owner’s sole cost and expense, the Mortgagee to execute and deliver to or as directed in writing by Owner an appropriate instrument reasonably required to release Owner’s Collateral from the Lien of this Mortgage and to discharge from the International Registry the registration of the International Interests constituted by this Mortgage with respect to such Collateral, and the Mortgagee shall execute and deliver such instrument as aforesaid at Owner’s expense; provided, however, that in the event that any portion of the Collateral is sold in accordance and compliance with Section 6.03 of the Credit Agreement, the Mortgagee shall cooperate, at Owner’s sole cost and expense, in releasing the Lien of this Mortgage from such portion of the Collateral (and the Proceeds thereof). 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) In the event that the security interests granted hereunder in all of the Collateral of Owner shall have been released as permitted by and in accordance with the terms of this Mortgage and the Credit Agreement, upon the request of the Borrower, Owner shall be released as Owner hereunder.
(c) At any time that Owner desires that any Collateral or Owner be released as provided in the foregoing Section 5.01(a) or (b), as applicable, it shall deliver to the Mortgagee a certificate signed by an authorized officer stating that the release of the respective Collateral or Owner, as applicable, is permitted pursuant to Section 5.01(a) or (b) hereof, as applicable, and the Credit Agreement. The Mortgagee shall have no liability whatsoever to any Secured Party as the result of any release of any Collateral, or of Owner, by it as permitted by Section 5.01(a) or (b), as applicable, hereof.
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, 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. (a) Upon (or at any time after) ----------------------- payment in full of the principal of and interest on and Break Amount, if any, and all other amounts due under, or otherwise due to the Holders of, all Loan Certificates and provided that (i) the Commitments shall have terminated and -------- (ii) there shall then be no other amounts due to the Loan Participants, the Holders and the Security Agent hereunder or under the Credit Agreement or the other Operative Documents or otherwise secured hereby, the Security Agent shall execute and deliver to or as directed in writing by the Borrower an appropriate instrument releasing each of the Purchase Agreements from the Lien of this Mortgage, and the Security Agent shall execute and deliver such instrument as aforesaid and, at the Borrower's expense, will execute and deliver such other instruments or documents as may be reasonably requested by the Borrower to give effect to such release; provided, however, that this Mortgage and the trusts -------- ------- created hereby shall earlier terminate and this Mortgage shall be of no further force or effect and the rights of the Holders of the Loan Certificates and the Security Agent shall terminate (and the Security Agent shall release, by an appropriate instrument, the Mortgage Estate and the Aircraft from the Lien of this Mortgage) upon any sale or other final disposition by the Security Agent of all property part of the Mortgage Estate and the final distribution by the Security Agent of all monies or other property or proceeds constituting part of the Mortgage Estate 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.
(b) In addition, upon (or at any time after) payment in full of the principal of MORTGAGE [Midway/LBK] and interest on and Break Amount, if any, and all other amounts due under, or otherwise due to the Holders of, all Loan Certificates of a Series and provided -------- that there shall then be no other amounts due to the Loan Participants, the Holders and the Security Agent hereunder or under the Loan Agreement or the other Operative Documents or otherwise secured hereby in respect of such Series of Loan Certificates, the Security Agent shall execute and deliver to or as directed in writing by the Borrower an appropriate instrument releasing the right to purchase the applicable Aircraft relating to such Ser...
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. Upon (or at any time after) payment in full of the Original Amount of, Make-Whole Amount (if any), 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, the Certificate Holders, and Mortgagee hereunder or under the Participation Agreement or any other Operative Agreement, Owner Trustee shall direct Mortgagee 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 Purchase Agreement, and the Purchase Agreement Assignment from the assignment and Lien hereunder, and Mortgagee shall execute and deliver such instrument and notify Lessee; provided, that this Mortgage and the trusts created hereby shall terminate earlier, 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) 10.01, 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 unpaid principal of, and accrued interest on, the Loans and all other Obligations then due and payable (and regardless of whether any Default or Event of Default shall have occurred and be continuing), the Security Trustee 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, provided that the Security Trustee shall have no obligation to release such Pledged Spare Parts and Collateral from the Lien of this Mortgage or otherwise terminate this Mortgage prior to such payment in full. Upon any release of any Pledged Spare Parts from the Lien of this Mortgage in accordance with the terms of this Mortgage, the Spare Parts Documents and other Collateral referred to in subsections (b), (c), (d) and (e) of Section 2.01 relating to such Pledged Spare Part shall also be released.
Termination of Mortgage. 17 Section 7.02. Alterations to Mortgage.............................................. 18 Section 7.03. No Legal Title to Collateral......................................... 18 Section 7.04. Sale of the Engines by Security Trustee Is Binding.............................................................. 18 Section 7.05. Benefit of Mortgage.................................................. 18 Section 7.06. Section 1110 of the Bankruptcy Code.................................. 18 Section 7.07. Notices.............................................................. 19 Section 7.08. Severability......................................................... 19 Section 7.09.
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.
Termination of Mortgage. Upon (or at any time after) payment in full of the principal of and interest on and Break Amount, if any, and all other amounts due under, or otherwise due to the Lenders in respect of, all Loan Certificates and provided that (i) the Commitments shall have terminated and (ii) there shall then be no other amounts due to the Lenders or the Agents under the Operative Documents, the Collateral shall automatically be release from the Lien of the Mortgage and the Security Trustee shall execute and deliver to or as directed in writing by the Borrower an appropriate instrument evidencing the release of the Collateral from the Lien of this Mortgage, and the Security Trustee shall execute and deliver such instrument as aforesaid and, at the Borrower’s expense, will execute and deliver such other instruments or documents as may be reasonably requested by the Borrower to evidence of give effect to such release; provided, however, that this Mortgage and the trusts created hereby shall earlier terminate and this Mortgage shall be of no further force or effect and the rights of the Lenders under the Loan Certificates and the Facility Agent shall terminate (and the Security Trustee shall release, by an appropriate instrument, the Collateral from the Lien of this Mortgage) upon any sale or other final disposition by the Security Trustee of all property part of the Collateral and the final distribution by the Security Trustee of all monies or other property or proceeds constituting part of the Collateral in accordance with the terms hereof. Except as aforesaid otherwise provided and as otherwise provided in Clause 6 of the Credit Agreement, this Mortgage and the trusts created hereby shall continue in full force and effect in accordance with the terms hereof.
