Common use of Termination of Pledge Clause in Contracts

Termination of Pledge. (a) The Pledge shall be valid and effective until all Secured Receivables have been irrevocably paid in full or ceased to exist in full in such a manner that no other Secured Receivable or its part may arise, or until any other circumstance anticipated by law for termination of a pledge has arisen. The Pledgee shall issue this written confirmation without undue delay after termination of the Pledge upon full payment of all Secured Receivables, but in no event later than within ten Business Days after Pledgor’s written request.

Termination of Pledge. (a) The Pledge shall be valid and effective until all Secured Receivables have been irrevocably paid in full or ceased to exist in full in such a manner that no other Secured Receivable or its part may arise, or until any other circumstance anticipated by law for termination of a pledge has arisen. The Pledgee shall issue this written confirmation without undue delay after termination of the Pledge upon full payment of all Secured Receivables, but in no event later than within ten Business Days after PledgorXxxxxxx’s written request.