Action Upon Payment of Secured Notes or Transfer of the Property Sample Clauses

Action Upon Payment of Secured Notes or Transfer of the Property. Upon the earlier of (a) payment in full of the principal of and Redemption Premium, if any, and interest (including interest at the Overdue Rate, if any) on all of the Secured Notes then Outstanding and all other amounts then due the Indenture Trustee or any Holder hereunder, under the Secured Notes or any other Operative Document, or (b) any transfer or disposition of any Property to the Lessee (or its designee) or any other Person pursuant to and in compliance with Articles 3, 6, 9 or 14 of the Lease or Article IX of the Participation Agreement or (c) any transfer pursuant to Article 19 of the Lease, the Indenture Trustee shall, in each case, upon the written request of, and at the expense of the Grantor (but only if in the case of the events specified in the preceding clauses (a) and (b) all amounts due and required to be paid by the Lessee pursuant to the Lease to which the Indenture Trustee and/or any "Indemnified Party" (as defined in the Lease), is entitled pursuant to the terms of the Operative Documents shall have been paid to the Indenture Trustee and/or any such Indemnified Party and no Event of Default shall have occurred and be continuing, or, in the case of the event specified in the preceding clause (c), if the Indenture Trustee shall not theretofore have exercised any of its remedies pursuant to Article VIII and if the Indenture Trustee, at the election or with the consent of a Majority in Interest of Secured Note Holders, given pursuant to Section 10.02 hereof, shall have approved such transfer or disposition free of this Indenture), execute and deliver to, or as directed in writing by the Grantor an appropriate instrument (in due form for recording, prepared by the Grantor) releasing, cancelling and surrendering and/or reconveying the affected Properties from this Indenture and, in the case of any such transaction or disposition of a Property as a whole, also reassigning all rights and interest in and to the Lease and releasing all other property or rights subject to this Indenture to the extent relating to such Property.