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 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 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provided for in the Loan Documents shall be reinstated if at any time any payment of any of the Secured Obligations is rescinded or must otherwise be returned by the Agent upon the insolvency, bankruptcy or reorganization of the Borrower or any other Loan Party or otherwise, all as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 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. 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. The Lenders and the Agent hereby agree that, on the Effective Date (as defined in Section 3), all Liens granted to the Agent for the benefit of the Lenders pursuant to each of the Security Agreement and the Pledge Agreement, respectively, will be released and the Security Agreement and the Pledge Agreement will be of no further force and effect. The Lenders and the Agent agree to take, and authorize the Borrower to take, such actions as may be reasonably required to cause all such Liens to be released as a matter of record.
Termination of Security. Interest Section 4.4.6
Termination of Security. Upon receipt of payment by the Company of an aggregate amount equal to $65,796,488.72 (of which the Company has directed the Lessee to pay an aggregate amount equal to $63,241,776.03 directly to GE, as Agent) the Company hereby agrees with the Lessee to duly execute and deliver, at the Lessee's sole cost and expense, such instruments, documents and assurances, and to take such further action, as may be necessary or as may be reasonably requested by the Lessee to effectuate the purpose of this Agreement, including without limitation, executed originals, in such form as Lessee shall reasonably request, of (i) that certain Xxxx of Sale from the Company to the Lessee sufficient to transfer to the Lessee all of the Company's right, title and interest in the Equipment, (ii) those several real property documents listed on Schedule I attached hereto, sufficient to transfer the Company's interest in each Parcel of Property from the Company to the Lessee free of any liens created in favor of GE, as Agent, in connection with or arising from the Lease and the Loan and Security Agreement, and (iii) such other documents and instruments as Lessee shall reasonably request, to evidence the termination of the Company's interest in and to the Property, the Equipment and any of the Documents.
