Common use of Termination of Security Interests Clause in Contracts

Termination of Security Interests. The security interests granted to the Agent hereunder shall terminate when all Commitments hereunder have been terminated and all of the Obligations have been indefeasibly paid and satisfied in full. Upon such complete payment and satisfaction: the Agent shall reassign, release and/or deliver to the Borrowers all Collateral then held by or at the direction of the Agent under the Loan Documents; and, if requested by the Borrowers, the Agent shall deliver to the Borrowers for filing in each office in which any financing statement, mortgage, or lease, or assignment thereof, relating to the Collateral, or any part thereof, shall have been filed, a termination statement under the UCC or an appropriate satisfaction, release, reconveyance or reassignment releasing the Agent’s interest therein, and any other instrument or document that the Borrowers deem reasonably necessary to evidence the termination of the Agent’s security interest; each in such form and substance as may be acceptable to the Agent. Any and all actions under this Section shall be without any recourse to or representation or warranty by the Agent and shall be at the sole cost and expense of the Borrowers.

Termination of Security Interests. The security interests granted to the Agent Lender hereunder shall terminate when all Commitments hereunder the Line of Credit shall have been terminated fully extinguished and all of the Obligations shall have been indefeasibly fully paid and satisfied in fullsatisfied. Upon such complete extinguishment, payment and satisfaction: the Agent Lender shall reassign, release and/or deliver to the Borrowers Loan Parties all Collateral then held by or at the direction of the Agent Lender under the Loan DocumentsInstruments; and, if requested by the BorrowersLoan Parties, the Agent Lender shall execute and deliver to the Borrowers Loan Parties for filing in each office in which any financing statement, mortgage, or lease, or assignment thereof, relating to the Collateral, or any part thereof, shall have been filed, a termination statement under the UCC or an appropriate satisfaction, release, reconveyance or reassignment releasing the Agent’s Lender's interest therein, and any other instrument or document that the Borrowers Loan Parties deem reasonably necessary to evidence the termination of the Agent’s Lender's security interest; , each in such form and substance as may be acceptable to the AgentLender. Any and all actions under this Section shall be without any recourse to or representation or warranty by the Agent Lender and shall be at the sole cost and expense of the BorrowersLoan Parties.

Termination of Security Interests. The security interests granted to the Administrative Agent (for the benefit of all of the Banks) hereunder shall terminate when all the Commitments hereunder shall have terminated and the Obligations shall have been terminated fully paid and all satisfied. Upon such termination of the Obligations have been indefeasibly paid Commitments and satisfied in full. Upon such complete payment and satisfaction: satisfaction the Agent shall reassign, release and/or deliver to the Borrowers all Collateral then held by or at the direction of the Administrative Agent (for the benefit of all of the Banks) under the Loan Documents; and, if requested by Instruments and the Borrowers, the Administrative Agent shall execute and deliver to the Borrowers for filing in each office in which any financing statement, mortgage, or lease, or assignment thereof, relating to the Collateral, or any part thereof, shall have been filed, a termination statement under the UCC Uniform Commercial Code or an appropriate satisfaction, release, reconveyance or reassignment releasing the Administrative Agent’s 's interest therein, and any other instrument or document that the Borrowers deem reasonably necessary to evidence the termination of the Administrative Agent’s 's security interest; , each in such form and substance as may be acceptable to the Administrative Agent. Any and all actions under this Section shall be without any recourse to or representation or warranty by any Bank (including the Agent Administrative Agent) and shall be at the sole cost and expense of the Borrowers.

Termination of Security Interests. The security interests granted to the Agent Lender hereunder shall terminate when all Commitments hereunder the Obligations shall have been terminated and all of the Obligations have been indefeasibly fully paid and satisfied in fullsatisfied. Upon such complete payment and satisfaction: the Agent Lender shall reassign, release and/or deliver to the Borrowers Loan Parties all Collateral then held by or at the direction of the Agent Lender under the Loan DocumentsInstruments; and, if requested by the BorrowersLoan Parties, the Agent Lender shall execute and deliver to the Borrowers Loan Parties for filing in each office in which any financing statement, mortgage, or lease, or assignment thereof, relating to the Collateral, or any part thereof, shall have been filed, a termination statement under the UCC or an appropriate satisfaction, release, reconveyance or reassignment releasing the Agent’s Lender's interest therein, and any other instrument or document that the Borrowers Loan Parties deem reasonably necessary to evidence the termination of the Agent’s Lender's security interest; , each in such form and substance as may be acceptable to the AgentLender. Any and all actions under this Section shall be without any recourse to or representation or warranty by the Agent Lender and shall be at the sole cost and expense of the Borrowers.Loan Parties. SPAR ESOP Term Loan Agreement