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

Termination of Security Interest; Release of Collateral. (a) Upon the payment in full of all principal of and premium, if any, and interest on the Notes and the payment in full of all other amounts for Obligations that are due and payable at such time, and if no claims for payment by the Company of any Obligations are at the time pending, the Security Interest shall terminate and all rights to the Collateral shall revert to the Grantor.

Appears in 4 contracts

Samples: Pledge and Security Agreement (Emagin Corp), Pledge and Security Agreement (Emagin Corp), Pledge and Security Agreement (Emagin Corp)

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Termination of Security Interest; Release of Collateral. (a) Upon the payment and performance in full of all principal of and premium, if any, and interest on the Notes and the payment in full of all other amounts for Obligations that are due and payable at such time, and if no claims for payment by the Company Grantor of any Obligations are at the time pendingits Obligations, the security interest granted in the Collateral pursuant to this Security Interest Agreement (the "Security Interest") shall terminate and all rights to the Collateral shall revert to the Grantor.

Appears in 4 contracts

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

Termination of Security Interest; Release of Collateral. (a) Upon the payment repayment in full of all principal of and premium, if any, and interest on the Notes and the payment in full of all other amounts for Obligations that are due and payable at such time, and if no claims for payment by the Company of any Obligations are at the time pendingObligations, the security interest granted in the Collateral pursuant to this Security Interest Agreement shall terminate and all rights to the Collateral shall revert to the GrantorGrantors.

Appears in 3 contracts

Samples: Security Agreement (Resort Investment LLC), Security Agreement (Source Media Inc), Security Agreement (Mentus Media Corp)

Termination of Security Interest; Release of Collateral. (a) Upon the payment and performance in full by the Grantor of the Obligations, all principal of and premiumright, if any, title and interest on of the Notes Collateral Agent in and to the payment in full of all other amounts for Obligations that are due and payable at such timeCollateral, and if no claims for payment by the Company of any Obligations are at the time pending, including the Security Interest Interest, pursuant to this Agreement shall terminate and all rights to the Collateral shall revert to the Grantor.

Appears in 3 contracts

Samples: Patent and Trademark Security Agreement (Emagin Corp), Patent and Trademark Security Agreement (Emagin Corp), Patent and Trademark Security Agreement (Emagin Corp)

Termination of Security Interest; Release of Collateral. (a) Upon the payment and performance in full of all principal of and premium, if any, and interest on the Notes and the payment in full of all other amounts for Obligations that are due and payable at such time, and if no claims for payment by the Company Grantor of any Obligations are at the time pendingits Obligation, the Security Interest shall terminate and all rights to the Collateral shall revert to the Grantor.

Appears in 3 contracts

Samples: Patent and Trademark Security Agreement (Photogen Technologies Inc), Patent and Trademark Security Agreement (Photogen Technologies Inc), Patent and Trademark Security Agreement (Alliance Pharmaceutical Corp)

Termination of Security Interest; Release of Collateral. (a) Upon the payment and performance in full of all principal of and premium, if any, and interest on the Notes and the payment in full of all other amounts for Obligations that are due and payable at such time, and if no claims for payment by the Company Grantor of any Obligations are at the time pendingits Obligations, the Security Interest shall terminate and all rights to the Collateral shall revert to the Grantor.

Appears in 2 contracts

Samples: Imagent and Oxygent Patent and Trademark Security Agreement (Alliance Pharmaceutical Corp), Debenture Imagent and Oxygent Patent and Trademark Security Agreement (Alliance Pharmaceutical Corp)

Termination of Security Interest; Release of Collateral. (a) Upon the payment repayment in full of all principal of Obligations under the Amended and premium, if any, and interest on the Notes and the payment in full of all other amounts for Obligations that are due and payable at such time, and if no claims for payment by the Company of any Obligations are at the time pendingRestated Note Agreement, the security interest granted in the Collateral pursuant to this Agreement (the "Security Interest Interest") shall terminate and all rights to the Collateral shall revert to the GrantorPledgor.

Appears in 2 contracts

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

Termination of Security Interest; Release of Collateral. (a) Upon the payment in full and/or satisfaction of the Obligations, all principal of and premiumright, if any, title and interest on of the Notes Holder in and to the payment in full of all other amounts for Obligations that are due and payable at such timeCollateral, and if no claims for payment by the Company of any Obligations are at the time pending, including the Security Interest Interest, pursuant to this Agreement shall terminate and all rights to the Collateral shall revert to the GrantorGrantor and the Holder shall immediately return to the Grantor any Collateral it has in its possession or control.

Appears in 2 contracts

Samples: Security Agreement (Onstream Media CORP), Security Agreement (Onstream Media CORP)

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Termination of Security Interest; Release of Collateral. (a) Upon the payment and performance in full of all principal of and premium, if any, and interest on the Notes and the payment in full of all other amounts for Obligations that are due and payable at such time, and if no claims for payment by the Company Grantor of any Obligations are at the time pendingits Obligations, the security interest granted in the Collateral pursuant to this Agreement (the “Security Interest Interest”) shall terminate and all rights to the Collateral shall revert to the Grantor.

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 payment repayment in full of all principal of and premium, if any, and interest on the Notes and the payment in full of all other amounts for Obligations that are due and payable at such time, and if no claims for payment by the Company of any Obligations are at the time pendingObligations, the security interest granted in the Collateral pursuant to this Agreement (the "Security Interest Interest") shall terminate and all rights to the Collateral shall revert to the Grantor.

Appears in 2 contracts

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

Termination of Security Interest; Release of Collateral. (a) Upon the payment in full and/or satisfaction of the Obligations, including by conversion to Preferred Stock, all principal of and premiumright, if any, title and interest on of the Notes Holder in and to the payment in full of all other amounts for Obligations that are due and payable at such timeCollateral, and if no claims for payment by the Company of any Obligations are at the time pending, including the Security Interest Interest, pursuant to this Agreement shall terminate and all rights to the Collateral shall revert to the GrantorGrantor and the Holder shall immediately return to the Grantor any Collateral it has in its possession or control.

Appears in 1 contract

Samples: Security Agreement (DecisionPoint Systems, Inc.)

Termination of Security Interest; Release of Collateral. (a) Upon the payment and performance in full of all principal of and premium, if any, and interest on the Notes and the payment in full of all other amounts for Obligations that are due and payable at such time, and if no claims for payment by the Company Grantor of any Obligations are at the time pendingits Obligations, the security interest granted in the Collateral pursuant to this Agreement (the "Security Interest Interest") shall terminate and all rights to the Collateral shall revert to the Grantor.

Appears in 1 contract

Samples: Security Agreement (Alliance Pharmaceutical Corp)

Termination of Security Interest; Release of Collateral. (a) Upon the payment and performance in full by the Grantor of all principal of and premiumits obligations under the Notes, if any, and interest on the Notes this Agreement and the payment in full of all other amounts for Obligations that are due Patent and payable at such time, and if no claims for payment by the Company of any Obligations are at the time pendingTrademark Security Agreement, the security interest granted in the Collateral pursuant to this Agreement (the "Security Interest Interest") shall terminate and all rights to the Collateral shall revert to the Grantor. At any time and from time to time prior to such termination of the Security Interest, the Collateral Agent shall release any of the Collateral only with the prior written consent of the Majority Holders.

Appears in 1 contract

Samples: Security Agreement (Cephalon Inc)

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