Common use of Termination of Security Interest Clause in Contracts

Termination of Security Interest. Upon payment in full of the Obligations and the expiration of any obligation of the Security Trustee to extend credit accommodations to the Grantor, the Security Interest granted hereby shall terminate. Upon any such termination, the Security Trustee will return to the Grantor such of the Collateral then in the possession of the Security Trustee as shall not have been sold or otherwise applied pursuant to the terms hereof and execute and deliver to the Grantor such documents as the Grantor shall reasonably request to evidence such termination. Any reversion or return of Collateral upon termination of this Agreement and any instruments of transfer or termination shall be at the expense of the Grantor and shall be without warranty by, or recourse on, the Security Trustee. As used in this Section, “Grantor” includes any assigns of Grantor, any Person holding a subordinate security interest in any of the Collateral or whoever else may be lawfully entitled to any part of the Collateral.

Termination of Security Interest. Upon payment in full of the Obligations and the expiration of any obligation of the Security Trustee Banks to extend credit accommodations to the GrantorBorrower, the Security Interest granted hereby shall terminate. Upon any such termination, the Security Trustee Secured Party will return to the Grantor such of the Collateral then in the possession of the Security Trustee Secured Party as shall not have been sold or otherwise applied pursuant to the terms hereof and execute and deliver to the Grantor such documents as the Grantor shall reasonably request to evidence such termination. Any reversion or return of Collateral upon termination of this Agreement and any instruments of transfer or termination shall be at the expense of the Grantor and shall be without warranty by, or recourse on, any Bank or the Security TrusteeSecured Party. As used in this Section, “"Grantor” " includes any assigns of Grantor, any Person holding a subordinate security interest in any of the Collateral or whoever else may be lawfully entitled to any part of the Collateral.

Termination of Security Interest. Upon payment in full of the Obligations and the expiration of any obligation of the Security Trustee Secured Party to extend credit accommodations to the GrantorDebtor, the Security Interest granted hereby shall terminate. Upon any such termination, the Security Trustee Secured Party will return to the Grantor such of the Collateral then in the possession of the Security Trustee Secured Party as shall not have been sold or otherwise applied pursuant to the terms hereof and execute and deliver to the Grantor such documents as the Grantor shall reasonably request to evidence such termination. Any reversion or return of Collateral upon termination of this Agreement and any instruments of transfer or termination shall be at the expense of the Grantor and shall be without warranty by, or recourse on, the Security TrusteeSecured Party. As used in this Section, “Grantor” includes any assigns of Grantor, any Person holding a subordinate security interest in any of the Collateral or whoever else may be lawfully entitled to any part of the Collateral.

Termination of Security Interest. Upon payment in full of the Obligations and the expiration of any obligation of the Security Trustee Secured Party to extend credit accommodations to the Grantor, the Security Interest granted hereby shall terminate. Upon any such termination, the Security Trustee Secured Party will return to the Grantor such of the Collateral then in the possession of the Security Trustee Secured Party as shall not have been sold or otherwise applied pursuant to the terms hereof and execute and deliver to the Grantor such documents as the Grantor shall reasonably request to evidence such termination. Any reversion or return of Collateral upon termination of this Agreement and any instruments of transfer or termination shall be at the expense of the Grantor and shall be without warranty by, or recourse on, the Security TrusteeSecured Party. As used in this Section, “Grantor” includes any assigns of Grantor, any Person holding a subordinate security interest in any of the Collateral or whoever else may be lawfully entitled to any part of the Collateral.

Termination of Security Interest. Upon payment in full of the Obligations and the expiration of any obligation of the Security Trustee Secured Party to extend credit accommodations to the Grantor, the Security Interest granted hereby shall terminate. Upon any such termination, the Security Trustee Secured Party will return to the Grantor such of the Collateral then in the possession of the Security Trustee Secured Party as shall not have been sold or otherwise applied pursuant to the terms hereof and execute and deliver to the Grantor such documents as the Grantor shall reasonably request to evidence such termination. Any reversion or return of Collateral upon termination of this Agreement and any instruments of transfer or termination shall be at the expense of the Grantor and shall be without warranty by, or recourse on, the Security TrusteeSecured Party. As used in this Section, “Grantor” includes any assigns of the Grantor, any Person holding a subordinate security interest in any of the Collateral or whoever else may be lawfully entitled to any part of the Collateral.

Termination of Security Interest. Upon payment in full of the Obligations and the expiration of any obligation of the Security Trustee Secured Parties to extend credit accommodations to the Grantor, the Security Interest granted hereby shall terminate. Upon any such termination, the Security Trustee Secured Parties will return to the Grantor such of the Collateral then in the possession of the Security Trustee Secured Parties as shall not have been sold or otherwise applied pursuant to the terms hereof and execute and deliver to the Grantor such documents as the Grantor it shall reasonably request to evidence such termination. Any reversion or return of Collateral upon termination of this Agreement and any instruments of transfer or termination shall be at the expense of the Grantor and shall be without warranty by, or recourse on, the Security TrusteeSecured Parties. As used in this Section, “Grantor” includes any assigns of any Grantor, any Person holding a subordinate security interest in any of the Collateral or whoever else may be lawfully entitled to any part of the Collateral.

Termination of Security Interest. Upon payment in full of the Obligations and the expiration of any obligation of the Security Trustee Secured Party to extend credit accommodations to the Grantor, the Security Interest granted hereby shall terminate. Upon any such termination, the Security Trustee Secured Party will return to the Grantor such of the Collateral then in the possession of the Security Trustee Secured Party as shall have not have been sold or otherwise applied pursuant to the terms hereof and execute and deliver to the Grantor such documents as the Grantor shall reasonably request requests to evidence such termination. Any reversion or return of Collateral upon termination of this Agreement and any instruments of transfer or termination shall be at the expense of the Grantor and shall be without warranty by, or recourse on, the Security TrusteeSecured Party. As used in this Section, “Grantor” includes any assigns of Grantor, any Person holding a subordinate security interest in any of the Collateral or whoever else may be lawfully entitled to any part of the Collateral.

Termination of Security Interest. Upon payment in full of the Obligations and the expiration of any obligation of the Security Trustee Secured Party to extend credit accommodations make loans to the GrantorBorrowers, the Security Interest granted hereby shall terminate. Upon any such termination, the Security Trustee Secured Party will return to the Grantor such of the Collateral then in the possession of the Security Trustee Secured Party as shall not have been sold or otherwise applied pursuant to the terms hereof and execute and deliver to the Grantor such documents as the Grantor shall reasonably request 11 to evidence such termination. Any reversion or return of Collateral upon termination of this Agreement and any instruments of transfer or termination shall be at the expense of the Grantor and shall be without warranty by, or recourse on, the Security TrusteeSecured Party. As used in this Section, “"Grantor” " includes any assigns of Grantor, any Person holding a subordinate security interest in any of the Collateral or whoever else may be lawfully entitled to any part of the Collateral.

Termination of Security Interest. Upon payment in full of the Obligations and the expiration of any obligation of the Security Trustee Secured Party to extend credit accommodations to the GrantorGrantors, the Security Interest granted hereby shall terminate. Upon any such termination, the Security Trustee Secured Party will return to the Grantor Grantors such of the Collateral then in the possession of the Security Trustee Secured Party as shall not have been sold or otherwise applied pursuant to the terms hereof and execute and deliver to the Grantor Grantors such documents as the Grantor Grantors shall reasonably request to evidence such termination. Any reversion or return of Collateral upon termination of this Agreement and any instruments of transfer or termination shall be at the expense of the Grantor Grantors and shall be without warranty by, or recourse on, the Security TrusteeSecured Party. As used in this Section, “GrantorGrantors” includes any assigns of GrantorGrantors, any Person holding a subordinate security interest in any of the Collateral or whoever else may be lawfully entitled to any part of the Collateral.

Termination of Security Interest. Upon payment in full of the Obligations and the expiration of any obligation of the Security Trustee Agent and the Secured Parties to extend credit accommodations to the Grantor, the Security Interest granted hereby shall terminate. Upon any such termination, the Security Trustee Agent will return to the Grantor such of the Collateral then in the possession of the Security Trustee Agent as shall not have been sold or otherwise applied pursuant to the terms hereof and execute and deliver to the Grantor such documents as the Grantor shall reasonably request to evidence such termination. Any reversion or return of Collateral upon termination of this Agreement and any instruments of transfer or termination shall be at the expense of the Grantor and shall be without warranty by, or recourse on, the Security TrusteeAgent. As used in this Section, “Grantor” includes any assigns of Grantor, any Person holding a subordinate security interest in any of the Collateral or whoever else may be lawfully entitled to any part of the Collateral.

Termination of Security Interest. Upon payment in full of the Obligations and the expiration of any obligation of the Security Trustee Banks to extend credit accommodations to the GrantorBorrower, the Security Interest granted hereby shall terminate. Upon any such termination, the Security Trustee Secured Party will return to the Grantor such of the Collateral then in the possession of the Security Trustee Secured Party as shall not have been sold or otherwise applied pursuant to the terms hereof and execute and deliver to the Grantor such documents as the Grantor shall reasonably request to evidence such termination. Any reversion or return of Collateral upon termination of this Agreement and any instruments of transfer or termination shall be at the expense of the Grantor and shall be without warranty by, or recourse on, any Bank or the Security TrusteeSecured Party. As used in this Section, “Grantor” includes any assigns of Grantor, any Person holding a subordinate security interest in any of the Collateral or whoever else may be lawfully entitled to any part of the Collateral.

Termination of Security Interest. Upon payment in full of the Obligations and the expiration of any obligation of the Security Trustee Banks to extend credit accommodations to the Grantor, the Security Interest granted hereby shall terminate. Upon any such termination, the Security Trustee Secured Party will return to the Grantor such of the Collateral then in the possession of the Security Trustee Secured Party as shall not have been sold or otherwise applied pursuant to the terms hereof and execute and deliver to the Grantor such documents as the Grantor shall reasonably request to evidence such termination. Any reversion or return of Collateral upon termination of this Agreement and any instruments of transfer or termination shall be at the expense of the Grantor and shall be without warranty by, or recourse on, any Bank or the Security TrusteeSecured Party. As used in this Section, “"Grantor” " includes any assigns of Grantor, any Person holding a subordinate security interest in any of the Collateral or whoever else may be lawfully entitled to any part of the Collateral.