Common use of Winding up of trust Clause in Contracts

Winding up of trust. (a) If the Security Agent determines that: (i) all of the Secured Obligations and all other obligations secured by the Security Documents have been fully and finally discharged; and (ii) no Lender is under any commitment, obligation or liability (actual or contingent) to participate in any Loan or provide other financial accommodation to any Obligor pursuant to the Finance Documents, (b) then: (i) the trusts set out in this Agreement shall be wound up and the Security Agent shall release, without recourse or warranty, all of the Transaction Security and the rights of the Security Agent under each of the Security Documents; and (ii) any Security Agent that is a Retiring Administrative Agent shall release, without recourse or warranty, all of its rights under each Security Document.

Winding up of trust. (a) If the Security Agent Agent, with the approval of the Agent, determines that: (ia) all of the Secured Obligations and all other obligations secured by the Security Documents have been fully and finally discharged; and (iib) no Lender Finance Party is under any commitment, obligation or liability (actual or contingent) to participate in any Loan make advances or provide other financial accommodation to any Obligor pursuant to the Finance Documents, (b) , then: (i) the trusts set out in this Agreement shall be wound up and the Security Agent shall release, without recourse or warranty, all of the Transaction Security and the rights of the Security Agent under each of the Security Documents; and (ii) any Security Agent that is a Retiring Administrative which has resigned pursuant to clause 33.17 (Resignation of the Agent or the Security Agent) shall release, without recourse or warranty, all of its rights under each Security Document.

Winding up of trust. (a) If the Security Agent determines Agents, with the approval of each Facility Agent, determine that: (ia) all of the Secured Obligations Liabilities and all other obligations secured by the Security Documents Agreements have been fully and finally discharged; and (iib) no Lender Secured Party is under any commitment, obligation or liability (actual or contingent) to participate in any Loan make advances or provide other financial accommodation to any Obligor Debtor pursuant to the Finance Debt Documents, (b) , then: (i) the trusts set out in this Agreement Deed shall be wound up and the both Security Agent Agents shall release, without recourse or warranty, all of the Transaction Security and the rights of the each Security Agent under each of the Security DocumentsAgreements; and (ii) any Security Agent that is which has resigned pursuant to Clause 10.12 (Resignation of a Retiring Administrative Agent Security Agent) shall release, without recourse or warranty, all of its rights under each Security DocumentAgreement.