Common use of Termination of Pledge Agreement Clause in Contracts

Termination of Pledge Agreement. Upon the Obligation Termination Date, the pledge of the Securities hereunder shall immediately terminate without further act by any party, and the requirements, covenants and conditions contained within this Pledge Agreement relating to the Obligation shall automatically terminate. The "Obligation Termination Date" shall mean the date upon which the payment and performance in full of all of the Obligations shall have been made.