Common use of Termination or Release Clause in Contracts

Termination or Release. (a) This Agreement, the Security Interest and all other security interests granted hereby shall terminate with respect to all Obligations (other than (x) obligations under Secured Hedge Agreements not yet due and payable, (y) Cash Management Obligations not yet due and payable and (z) contingent indemnification obligations not yet accrued and payable) when all the outstanding Obligations have been indefeasibly paid in full and the Lenders have no further commitment to lend under the Credit Agreement, the L/C Obligations have been reduced to zero and the L/C Issuers have no further obligations to issue Letters of Credit under the Credit Agreement.

Appears in 6 contracts

Samples: Parent Security Agreement (Pinnacle Foods Inc.), Intellectual Property Security Agreement (Freescale Semiconductor Holdings I, Ltd.), Security Agreement (S.D. Shepherd Systems, Inc.)

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Termination or Release. (a) This Agreement, Agreement and the Security Interest and all other security interests granted hereby Guarantees made herein shall terminate with respect to all Obligations when all the outstanding Obligations under the Loan Documents (other than (x) obligations under Secured Hedge Agreements not yet due and payable, (y) Cash Management Obligations not yet due and payable and (z) contingent indemnification obligations not yet accrued and payableobligations) when all the outstanding Obligations have been indefeasibly paid in full and the Lenders have no further commitment to lend under the Credit Agreement, the L/C Obligations have been reduced to zero (unless cash collateral or other credit support satisfactory to the L/C Issuer thereof in its sole discretion has been provided) and the L/C Issuers have no further obligations to issue Letters of Credit under the Credit Agreement.

Appears in 5 contracts

Samples: Security Agreement (West Corp), Security Agreement (West Customer Management Group, LLC), Guarantee Agreement (West Corp)

Termination or Release. (a) This Agreement, the Security Interest and all other security interests granted hereby shall terminate with respect to all Secured Obligations when all the outstanding Secured Obligations under the Loan Documents (other than (x) obligations under Secured Hedge Agreements not yet due and payable, (y) Cash Management Obligations not yet due and payable and (z) contingent indemnification obligations not yet accrued and payableobligations) when all the outstanding Obligations have been indefeasibly paid in full and the Lenders have no further commitment to lend under the Credit Agreement, the L/C Obligations have been reduced to zero (unless cash collateral or other credit support satisfactory to the L/C Issuer thereof in its sole discretion has been provided) and the L/C Issuers have no further obligations to issue Letters of Credit under the Credit Agreement.

Appears in 5 contracts

Samples: Security Agreement (West Corp), Security Agreement (West Customer Management Group, LLC), Security Agreement (West Corp)

Termination or Release. (a) This Agreement, Agreement and the Security Interest and all other security interests granted hereby Guaranties made herein shall terminate with respect to all Guaranteed Obligations when all the outstanding Guaranteed Obligations (other than (x) obligations under Secured Hedge Agreements not yet due and payable, (y) Cash Management Obligations not yet due and payable and (z) contingent indemnification obligations not yet accrued and payable) when all the outstanding Obligations have been indefeasibly paid in full and the Lenders have no further commitment to lend under the Credit Agreement, the Outstanding Amount of L/C Obligations have been either reduced to zero or Cash Collateralized and the L/C Issuers have no further obligations to issue Letters of Credit under the Credit Agreement.

Appears in 4 contracts

Samples: And Restatement Agreement, Converting Term Lender (Sabre Corp), Converting Term Lender (Sabre Corp)

Termination or Release. (a) This Agreement, Agreement and the Security Interest and all other security interests granted hereby Guaranties made herein shall terminate with respect to all Obligations when all the outstanding Obligations (other than (x) obligations under Secured Hedge Agreements not yet due and payable, (y) Cash Management Obligations not yet due and payable and (z) contingent indemnification obligations not yet accrued and payable) when all the outstanding Obligations have been indefeasibly paid in full and the Lenders have no further commitment to lend under the Credit Agreement, the Outstanding Amount of L/C Obligations have been either reduced to zero or Cash Collateralized and the L/C Issuers have no further obligations to issue Letters of Credit under the Credit Agreement.

Appears in 3 contracts

Samples: Revolving Credit Agreement (IASIS Healthcare LLC), Guaranty (ASC Acquisition LLC), Credit Agreement (IASIS Healthcare LLC)

Termination or Release. (a) This Agreement, Agreement and the Security Interest and all other security interests granted hereby Guaranties made herein shall terminate with respect to all Obligations when all the outstanding Obligations (other than (x) obligations under Secured Hedge Agreements not yet due and payable, (y) Cash Management Obligations not yet due and payable and (z) contingent indemnification obligations not yet accrued and payable) when all the outstanding Obligations have been indefeasibly paid in full and the Lenders have no further commitment to lend under the Credit Agreement, the Outstanding Amount of L/C Obligations have has been reduced to zero and the L/C Issuers have no further obligations to issue Letters of Credit under the Credit Agreement.

Appears in 2 contracts

Samples: LVB Acquisition, Inc., Biolectron, Inc.

Termination or Release. (a) This Agreement, Agreement and the Security Interest and all other security interests granted hereby Guaranties made herein shall terminate with respect to all Obligations (other than (x) obligations under Secured Hedge Agreements not yet due and payable, (y) Cash Management Obligations not yet due and payable and (z) contingent indemnification obligations not yet accrued and payable) when all the outstanding Obligations have been indefeasibly paid in full (other than Obligations under any Secured Hedge Agreement, Cash Management Obligations and contingent indemnification obligations not then due and payable) and the Lenders have no further commitment to lend under the Credit Agreement, the L/C Obligations have been reduced to zero (unless the L/C Obligations shall have been collateralized on terms and conditions reasonably satisfactory to the relevant L/C Issuer following termination of the Commitments) and the L/C Issuers have no further obligations to issue Letters of Credit under the Credit Agreement.

Appears in 2 contracts

Samples: Encore Medical, L.P., ReAble Therapeutics Finance LLC

Termination or Release. (a) This Agreement, Agreement and the Security Interest and all other security interests granted hereby Guaranties made herein shall terminate with respect to all Obligations when all the outstanding Obligations (other than (x) obligations under Secured Hedge Agreements not yet due and payable, (y) Cash Management Obligations not yet due and payable and (z) contingent indemnification obligations not yet accrued and payable) when all the outstanding Obligations have been indefeasibly paid in full and the Lenders have no further commitment to lend under the Credit Agreement, the Outstanding Amount of L/C Obligations have has been reduced to zero and the L/C Issuers have no further obligations to issue Letters of Credit under the Credit Agreement.

Appears in 1 contract

Samples: WP Prism Inc.

Termination or Release. (a) This Agreement, Agreement and the Security Interest and all other security interests granted hereby Guaranties made herein shall terminate with respect to all Obligations when all the outstanding Obligations (other than (xi) obligations under Secured Hedge Agreements not yet due and payable, (yii) Cash Management Obligations not yet due and payable and (ziii) contingent indemnification indemnification, tax gross-up, yield protection and expense reimbursement obligations not yet accrued and payablefor which no claim has been made to the Borrower) when all the outstanding Obligations have been indefeasibly paid in full and the Lenders have no further commitment to lend under the Credit Agreement, the L/C Obligations have been reduced to zero and the L/C Issuers have no further obligations to issue Letters of Credit under the Credit Agreement.

Appears in 1 contract

Samples: Credit Agreement (Orbitz Worldwide, Inc.)

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Termination or Release. (a) This Agreement, the Security Interest and all other security interests granted hereby shall terminate with respect to all Obligations when all the outstanding Obligations (other than (x) obligations under Secured Hedge Agreements not yet due and payable, (y) Cash Management Obligations not yet due and payable and (z) contingent indemnification indemnification, tax, gross-up, yield protection and expense reimbursement obligations not yet accrued and payablefor which no claim has been made to the Borrower) when all the outstanding Obligations have been indefeasibly paid in full and the Lenders have no further commitment to lend under the Credit Agreement, the L/C Obligations have been reduced to zero and the L/C Issuers have no further obligations to issue Letters of Credit under the Credit Agreement.

Appears in 1 contract

Samples: Credit Agreement (Orbitz Worldwide, Inc.)

Termination or Release. (a) This Agreement, Agreement and the Security Interest and all other security interests granted hereby Guarantees made herein shall terminate with respect to all Obligations when all the outstanding Obligations (in each case other than (x) obligations under Secured Hedge Agreements not yet due and payable, (y) Cash Management Obligations not yet due and payable and (z) contingent indemnification obligations not yet accrued and payable) when all the outstanding Obligations have been indefeasibly paid in full in cash and the Lenders have no further commitment to lend under the Credit Agreement, the Outstanding Amount of L/C Obligations have been either reduced to zero or Cash Collateralized and the L/C Issuers have no further obligations to issue Letters of Credit under the Credit Agreement.

Appears in 1 contract

Samples: Guaranty (Surgical Care Affiliates, Inc.)

Termination or Release. (a) This Agreement, the Security Interest and all other security interests granted hereby shall terminate with respect to all Obligations and any Liens arising therefrom shall be automatically released when all the outstanding Obligations (in each case other than (x) obligations under Secured Hedge Agreements not yet due and payable, (y) Cash Management Obligations not yet due and payable and (z) contingent indemnification obligations not yet accrued and payable) when all the outstanding Obligations have been indefeasibly paid in full and the Lenders have no further commitment to lend under the Credit Agreement, the Outstanding Amount of L/C Obligations have been either reduced to zero or Cash Collateralized and the L/C Issuers have no further obligations to issue Letters of Credit under the Credit Agreement.

Appears in 1 contract

Samples: Security Agreement (ASC Acquisition LLC)

Termination or Release. (a) This Agreement, Agreement and the Security Interest and all other security interests granted hereby Guaranty made herein shall terminate with respect to all Obligations when all the outstanding Obligations (other than (x) obligations under Secured Hedge Agreements not yet due and payable, (y) Cash Management Obligations not yet due and payable and (z) contingent indemnification obligations not yet accrued and payable) when all the outstanding Obligations have been indefeasibly paid in full and the Lenders have no further commitment to lend under the Credit Agreement, the Outstanding Amount of L/C Obligations have has been reduced to zero and the L/C Issuers have no further obligations to issue Letters of Credit under the Credit Agreement.

Appears in 1 contract

Samples: Biolectron, Inc.

Termination or Release. (a) This Agreement, the Security Interest and all other security interests granted hereby shall terminate with respect to all Obligations and any Liens arising therefrom shall be automatically released when all the outstanding Obligations (in each case other than (x) obligations under Secured Hedge Agreements not yet due and payable, (y) Cash Management Obligations not yet due and payable and (z) contingent indemnification obligations not yet accrued and payable) when all the outstanding Obligations have been indefeasibly paid in full and the Lenders have no further commitment to lend under the Credit Agreement, the Outstanding Amount of L/C Obligations have has been reduced to zero and the L/C Issuers have no further obligations to issue Letters of Credit under the Credit Agreement.

Appears in 1 contract

Samples: Security Agreement (WP Prism Inc.)

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