Examples of Security Termination Date in a sentence
On the Security Termination Date, the security interest granted hereby shall terminate and all rights to the Collateral shall revert to the Grantor.
Notwithstanding anything contained herein to the contrary, the aggregate amount of obligations of the Borrower and its Subsidiaries secured by Liens permitted by any of clauses (c), (d), (e), (g) (to the extent extending, renewing or replacing any of the Liens permitted by any of clauses (c), (d) and (e)) and (h) shall not exceed 15% of Consolidated Tangible Net Worth at any time on or after the Security Termination Date.
On the Security Termination Date, the security interest granted hereby shall terminate and all rights to the Collateral shall revert to the Borrower.
If no Event of Default exists as of the Performance Security Termination Date, the Performance Security shall be returned to Rail Company within thirty (30) days.
Notwithstanding the foregoing, the release of all or substantially all of the Collateral prior to the Security Termination Date shall require the written consent of each of the Secured Creditors.