Common use of TERMINATION OF THIS SECURITY AGREEMENT Clause in Contracts

TERMINATION OF THIS SECURITY AGREEMENT. Subject to Section 10 hereof, this Security Agreement shall terminate upon the payment and performance in full of the Secured Obligations, at which time all rights to the Collateral shall revert to Grantor. Upon such a termination, the Secured Party shall, at Grantor's sole expense, execute and deliver to Grantor such documents as the Grantor shall reasonably request to evidence such termination.

Appears in 2 contracts

Samples: Security Agreement (Spatialight Inc), Security Agreement (Tripp Steven Francis)

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TERMINATION OF THIS SECURITY AGREEMENT. Subject to Section 10 hereof, this Security Agreement shall automatically terminate upon the payment and performance in full of the Secured Obligations, at which time all rights to the Collateral shall revert to Grantor. Upon the termination of this Agreement, the Grantor is authorized to file such a termination, termination statements or other instruments it deems reasonably necessary to evidence the termination of the security interest granted pursuant to this Security Agreement and the Secured Party shall, at Grantor's sole expense, execute and deliver agrees to Grantor cooperate with such documents reasonable requests as the Grantor shall reasonably request to evidence such terminationmay make in connection therewith.

Appears in 1 contract

Samples: Bridge Loan Agreement (Vector Ventures Corp.)

TERMINATION OF THIS SECURITY AGREEMENT. Subject to Section 10 hereof, this Security Agreement shall terminate upon the payment and performance in full of the Secured Obligations, at which time all rights to the Collateral shall revert to GrantorGrantor and to any other secured parties with rights to the Collateral equal or subordinate to the rights of Secured Party. Upon such a termination, the Secured Party shall, at Grantor's sole expense, execute and deliver to Grantor such documents as the Grantor shall reasonably request to evidence such termination.

Appears in 1 contract

Samples: Security Agreement (Spatialight Inc)

TERMINATION OF THIS SECURITY AGREEMENT. Subject to Section 10 hereof, this Security Agreement shall automatically terminate upon the payment and performance in full of the Secured Obligations, at which time all rights to the Collateral shall revert to Grantor. Upon the termination of this Agreement, each Grantor is authorized to file such a termination, termination statements or other instruments it deems reasonably necessary to evidence the termination of the security interest granted pursuant to this Security Agreement and the Secured Party shall, at Grantor's sole expense, execute and deliver Parties agree to cooperate with such reasonable requests as each Grantor such documents as the Grantor shall reasonably request to evidence such terminationmay make in connection therewith.

Appears in 1 contract

Samples: Security Agreement (Bioject Medical Technologies Inc)

TERMINATION OF THIS SECURITY AGREEMENT. Subject to the provisions of Section 10 hereof, the Lien created by this Security Agreement shall terminate upon the payment and performance in full of the Head Lessee Secured Obligations. The Secured Party agrees that it shall, at which time all rights upon or after the termination of the Lien created hereunder pursuant to the Collateral shall revert to Grantor. Upon such a termination, the Secured Party shall, at Grantor's sole expensepreceding sentence, execute and deliver to at the sole cost and expense of the Grantor such documents as termination statements and instruments prepared by the Grantor shall as may be reasonably request requested by the Grantor to evidence such termination.

Appears in 1 contract

Samples: Head Lessee Security Agreement (Universal Compression Inc)

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TERMINATION OF THIS SECURITY AGREEMENT. Subject to Section 10 hereof, this Security Agreement shall terminate upon the payment and performance in full of the Secured Obligations, at which time all rights to the Collateral shall revert to Grantor. Upon the termination of this Agreement, Grantor is authorized to file such a termination, termination statements or other instruments it deems reasonably necessary to evidence the termination of the security interest granted pursuant to this Security Agreement and the Secured Party shall, at Grantor's sole expense, execute and deliver Parties agree to cooperate with such reasonable requests as Grantor such documents as the Grantor shall reasonably request to evidence such terminationmay make in connection therewith.

Appears in 1 contract

Samples: Security Agreement (Neorx Corp)

TERMINATION OF THIS SECURITY AGREEMENT. Subject to Section 10 hereof, this Security Agreement shall automatically terminate upon the payment and performance in full of the Secured Obligations, at which time all rights to the Collateral shall revert to Grantor. Upon the termination of this Agreement, each Grantor is authorized to file such a termination, termination statements or other instruments it deems reasonably necessary to evidence the termination of the security interest granted pursuant to this Security Agreement and the Secured Party shall, at Grantor's sole expense, execute and deliver agree to cooperate with such reasonable requests as each Grantor such documents as the Grantor shall reasonably request to evidence such terminationmay make in connection therewith.

Appears in 1 contract

Samples: Security Agreement (Platinum Research Organization, Inc.)

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