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

Termination of Security Interests; Release of Collateral. Upon the payment, performance or other satisfaction in full of all the Obligations, the Security Interests shall terminate and all rights to the Collateral shall revert to the Debtor. Upon any such termination of the Security Interests or release of Collateral, the Secured Party will, at the Debtor's expense, to the extent permitted by law, execute and deliver to the Debtor such documents as the Debtor shall reasonably request to evidence the termination of the Security Interests or the release of such Collateral, as the case may be.

Appears in 4 contracts

Samples: Security Interest Agreement (Rim Semiconductor CO), Security Interest Agreement (Rim Semiconductor CO), Security Interest Agreement (Ambient Corp /Ny)

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Termination of Security Interests; Release of Collateral. Upon the payment, repayment and performance or other satisfaction in full of all the Obligations, the Security Interests shall terminate and all rights to the Collateral shall revert to the Debtor. Upon any such termination of the Security Interests or release of Collateral, the Secured Party will, at the Debtor's expense, expense to the extent permitted by law, execute and deliver to the Debtor such documents as the Debtor shall reasonably request to evidence the termination of the Security Interests or the release of such Collateral, as the case same may be.

Appears in 3 contracts

Samples: Term Loan Agreement (Network Six Inc), Security Agreement (International Dispensing Corp), Security Agreement (International Dispensing Corp)

Termination of Security Interests; Release of Collateral. Upon the payment, performance or other satisfaction indefeasible payment in full of all the Loan Obligations, the Security Interests shall terminate and all rights to in the Collateral shall revert to the Debtor. Upon any such termination of the Security Interests or release of Collateral, the Secured Party will, at the Debtor's expense, to the extent permitted by law, execute and deliver to the Debtor such documents as the Debtor shall reasonably request to evidence the termination of the Security Interests or the release of such Collateral, as the case may be.

Appears in 3 contracts

Samples: Security Agreement (International Cutlery LTD), Security Agreement (Commodore Environmental Services Inc /De/), Security Agreement (Lanxide Corp)

Termination of Security Interests; Release of Collateral. Upon the payment, performance payment or other satisfaction in full of all the ObligationsNotes held by the Secured Parties, the Security Interests shall terminate and all rights to the Collateral shall revert to the Debtor. Upon any such termination of the Security Interests or release of Collateral, the Secured Party Parties will, at the Debtor's ’s expense, to the extent permitted by law, execute and deliver to the Debtor such documents as the Debtor shall reasonably request to evidence the termination of the Security Interests or the release of such Collateral, as the case may be.

Appears in 2 contracts

Samples: Security Interest Agreement (Hythiam, Inc.), Security Interest Agreement (Hythiam Inc)

Termination of Security Interests; Release of Collateral. Upon the payment, repayment and performance or other satisfaction in full of all the Obligations, the Security Interests shall terminate and all rights to the Collateral shall revert to the Debtor. Upon any such termination of the Security Interests or release of Collateral, the Secured Party will, at the Debtor's expense, expense to the extent permitted by law, execute and deliver to the Debtor such documents as the Debtor shall reasonably request to evidence the termination of the Security Interests or the release of such Collateral, as the case may be.

Appears in 1 contract

Samples: Security Agreement (Airnet Communications Corp)

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Termination of Security Interests; Release of Collateral. Upon the payment, performance or other satisfaction indefeasible payment in full of all the Secured Obligations, the Security Interests shall terminate and all rights to in the Collateral shall revert to the Debtor. Upon any such termination of the Security Interests or release of Collateral, the Secured Party will, at the Debtor's Debtor?s expense, to the extent permitted by law, execute and deliver to the Debtor such documents as the Debtor shall reasonably request to evidence the termination of the Security Interests or the release of such Collateral, as the case may be.

Appears in 1 contract

Samples: Security Agreement (Health Sciences Group Inc)

Termination of Security Interests; Release of Collateral. Upon the payment, performance payment or other satisfaction in full of the Obligations owed by Debtor to all the ObligationsSecured Parties, the Security Interests shall terminate and all rights to the Collateral shall revert to the Debtor. Upon any such termination of the Security Interests or release of Collateral, the Secured Party will, at the Debtor's expense, to the extent permitted by law, execute and execute, deliver to the Debtor and file with the appropriate authority such documents as the Debtor shall reasonably request to evidence the termination of the Security Interests or the release of such Collateral, as the case may bebe (including, without limitation, the filing of termination statements in the appropriate jurisdictions).

Appears in 1 contract

Samples: Security Interest Agreement (Rosetta Genomics Ltd.)

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