Common use of Termination of Mortgage Clause in Contracts

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.