Common use of Termination of Security Interest; Release of Collateral Clause in Contracts

Termination of Security Interest; Release of Collateral. (a) Upon the repayment in full of all Obligations, the security interest granted in the Collateral pursuant to this Agreement (the "Security Interest") shall terminate and all rights to the Collateral shall revert to the Grantor. (b) Upon any such termination of the Security Interest or release of Collateral pursuant to this Section , the Collateral Agent will, at the expense of the Grantor, execute and deliver to the Grantor such documents as the Grantor shall reasonably request to evidence the termination of the Security Interest and deliver to the Grantor all Collateral so released then in its possession.

Appears in 2 contracts

Samples: Security Agreement (Source Media Inc), Security Agreement (Source Media Inc)

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Termination of Security Interest; Release of Collateral. (a) Upon the repayment payment and performance in full by the Grantor of all its Obligations, the security interest granted in the Collateral pursuant to this Security Agreement (the "Security Interest") shall terminate and all rights to the Collateral shall revert to the Grantor. (b) Upon any such termination of the Security Interest or release of Collateral pursuant to this Section Interest, the Collateral Agent will, at the expense of the Grantor, execute and deliver to the Grantor such documents and take such other actions as the Grantor shall reasonably request to evidence the termination of the Security Interest and deliver to the Grantor all Collateral so released then in its possession.

Appears in 2 contracts

Samples: General Collateral Security Agreement (Alliance Pharmaceutical Corp), Security Agreement (Alliance Pharmaceutical Corp)

Termination of Security Interest; Release of Collateral. (a) Upon the repayment payment and performance in full by the Grantor of all its Obligations, the security interest granted in the Collateral pursuant to this Security Agreement (the "Security Interest") shall terminate and all rights to the Collateral shall revert to the Grantor. (b) Upon any such termination of the Security Interest or release of Collateral pursuant to this Section Interest, the Collateral Agent Secured Parties will, at the expense of the Grantor, execute and deliver to the Grantor such documents and take such other actions as the Grantor shall reasonably request to evidence the termination of the Security Interest and deliver to the Grantor all Collateral so released then in its possession.

Appears in 2 contracts

Samples: Debenture Agent Security Agreement (Alliance Pharmaceutical Corp), Debenture General Collateral Security Agreement (Alliance Pharmaceutical Corp)

Termination of Security Interest; Release of Collateral. (a) Upon the repayment payment and performance in full by the Grantor of all its Obligations, the security interest granted in the Collateral pursuant to this Agreement (the "β€œSecurity Interest"”) shall terminate and all rights to the Collateral shall revert to the Grantor. (b) Upon any such termination of the Security Interest or release of Collateral pursuant to this Section Interest, the Collateral Agent Secured Parties will, at the expense of the Grantor, execute and deliver to the Grantor such documents and take such other actions as the Grantor shall reasonably request to evidence the termination of the Security Interest and deliver to the Grantor all Collateral so released then in its possession.

Appears in 2 contracts

Samples: Security Agreement (Photogen Technologies Inc), Security Agreement (Photogen Technologies Inc)

Termination of Security Interest; Release of Collateral. (a) Upon the repayment in full of all Obligations, the security interest granted in the Collateral pursuant to this Security Agreement (the "Security Interest") shall terminate and all rights to the Collateral shall revert to the GrantorGrantors. (b) Upon any such termination of the security interest granted in the Collateral pursuant to this Security Interest Agreement or release of Collateral pursuant to this Section Section, the Collateral Agent will, at the expense of the each Grantor, execute and deliver to the each Grantor such documents as the such Grantor shall reasonably request to evidence the termination of the Security Interest such security interest and deliver to the such Grantor all Collateral so released then in its possession.

Appears in 1 contract

Samples: Security Agreement (Source Media Inc)

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Termination of Security Interest; Release of Collateral. (a) Upon the repayment in full of all Obligations, the security interest granted in the Collateral pursuant to this Security Agreement (the "Security Interest") shall terminate and all rights to the Collateral shall revert to the GrantorGrantors. (b) Upon any such termination of the security interest granted in the Collateral pursuant to this Security Interest Agreement or release of Collateral pursuant to this Section Section, the Collateral Agent will, at the expense of the each Grantor, execute and deliver to the each Grantor such documents as the such Grantor shall reasonably request to evidence the termination of the Security Interest such security interest and deliver to the such Grantor all Collateral so released then in its possession.

Appears in 1 contract

Samples: Security Agreement (Resort Investment LLC)

Termination of Security Interest; Release of Collateral. (a) Upon the repayment payment and performance in full by the Grantor of all its Obligations, the security interest granted in the Collateral pursuant to this Agreement (the "Security Interest") shall terminate and all rights to the Collateral shall revert to the Grantor. (b) Upon any such termination of the Security Interest or release of Collateral pursuant to this Section Interest, the Collateral Agent Secured Parties will, at the expense of the Grantor, execute and deliver to the Grantor such documents and take such other actions as the Grantor shall reasonably request to evidence the termination of the Security Interest and deliver to the Grantor all Collateral so released then in its possession.

Appears in 1 contract

Samples: Security Agreement (Alliance Pharmaceutical Corp)

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