Termination; Release of Collateral. This Agreement shall terminate automatically upon receipt by the Bank of written notice executed by two officers of the Trustee holding titles of Vice President or higher that (a) all of the obligations secured by the Collateral have been satisfied, or (b) all of the Collateral has been released, whichever is sooner, and the Bank shall thereafter be relieved of all duties and obligations hereunder.
Appears in 6 contracts
Sources: Collateral Pledge and Security Agreement (Dobson Sygnet Communications Co), Collateral Pledge and Security Agreement (Allegiance Telecom Inc), Collateral Pledge and Security Agreement (Allegiance Telecom Inc)
Termination; Release of Collateral. This Agreement shall terminate automatically upon receipt by the Bank of written notice executed by two officers of the Trustee Escrow Agent holding titles of Vice President or higher that that: (a) all of the obligations secured by the Collateral have been satisfiedEscrow Agreement has terminated, or and (b) all of the Collateral has been released, whichever is sooner, and the Bank shall thereafter be relieved of all duties and obligations hereunder.
Appears in 1 contract
Sources: Escrow and Security Agreement (Wellcare Management Group Inc)