Termination of Security. At such time as no Secured Party has any commitment to make financial accommodations to the Borrower pursuant to the terms hereof and all the Secured Obligations have been indefeasibly paid and performed in full, then the security provided for in the Loan Documents shall terminate, provided, however, that all indemnities of the Borrower and each other Loan Party contained in this Agreement or any other Loan Document shall survive and remain operative and in full force and effect regardless of the termination of such security.
Termination of Security. At the time of prepayment or payoff of the Secured and Collateralized Promissory Note to Holder by Borrower, Holder’s security interest in this Collateral shall automatically terminate. In the event that the Collateral and security interest were perfected by Holder as set forth in Section 3, upon termination of security as set forth in this section 6, the Holder will withdraw any and all perfection instruments on the collateral and security within 5 (five) business days.
Termination of Security. At such time as no Secured Party has any commitment to make financial accommodations to the Borrower pursuant to the terms hereof and all the Secured Obligations (other than contingent indemnification obligations) have been paid and performed in full, then the security provided for in the Loan Documents shall terminate, provided, however, that all indemnities of the Borrower and each other Loan Party contained in this Agreement or any other Loan Document shall survive and remain operative and in full force and effect regardless of the termination of such security, provided, further, that all such security interests shall continue to be effective or be reinstated, as the case may be, if at any time all or part of any payment of any Secured Obligation is rescinded or must otherwise be returned by any Secured Party or any other Person upon the insolvency, bankruptcy or reorganization of the Borrower or any other Loan Party or otherwise.
Termination of Security. Upon the full and final payment and performance of all Obligations of the Issuer and the Guarantors under this Indenture, the Notes and the Guarantees, the Trustee will release the Liens pursuant to this Indenture and the Note Security Documents.
Termination of Security for any reason whatsoever any security given to the Bank for the payment of the Facility shall be terminated or shall lapse for any reason whatsoever or if the Customer and/or the Security Party shall be in default under the terms of such security;
Termination of Security. At such time as no Secured Party has any commitment to make financial accommodations to a Borrower pursuant to the terms hereof and all the Secured Obligations and Canadian Secured Obligations have been paid and performed in full, then the security provided for in the Loan Documents shall terminate, provided that the security provided for in the Loan Documents shall be reinstated if at any time any payment of any of the Secured Obligations or Canadian Secured Obligations is rescinded or must otherwise be returned by the Agent upon the insolvency, bankruptcy or reorganization of a Borrower or any other Loan Party or otherwise, all as though such payment had not been made, and provided, further, that all indemnities of the Borrowers and each other Loan Party contained in this Agreement or any other Loan Document shall survive and remain operative and in full force and effect regardless of the termination of such security.
Termination of Security. 18 Section 3.03 Indemnity..................................................................................... 19 Section 3.04 Substitution and Replacement of Collateral.................................................... 19 Section 3.05 Maintenance of Equipment; Casualty Occurrences................................................ 21 Section 3.06
Termination of Security. Effective on the Deposit Date, the Security Agreement and IP Security Agreement, and all the security interests granted thereby, shall automatically terminate and the Holder’s security interest in and lien on all the Collateral and Intellectual Property Collateral shall be released.
Termination of Security. All security interests in any of the Collateral which would otherwise have priority over Bank’s security referred to in Section 2.8 will have been terminated or the Bank shall have received a payoff letter providing for the termination of such security upon such terms as are acceptable to the Bank.
Termination of Security. After all payments which are required to be made on the Notes pursuant to this Agreement have been completed and fully made by the Company, (1) any moneys remaining in the hands of the Trustee after providing for all outstanding Notes and after paying the expenses of the Trustee, including its reasonable compensation, shall be paid to the Company and (2) the Trustee shall execute for record in public offices, at the expense of the Company, such instrument or instruments in writing as reasonably shall be requested by the Company in order to make clear upon public records the release of the Equipment from the security interest granted hereunder, under the laws of any jurisdiction.
