Common use of Continuing Security Interests; Release Clause in Contracts

Continuing Security Interests; Release. This Agreement creates continuing security interests in the Collateral and shall (a) remain in full force and effect until the Discharge of the Credit Agreement, (b) be binding upon each Grantor and its successors and assigns, and (c) inure, together with the rights and remedies of Secured Party hereunder, to the benefit of and be enforceable by Secured Party and its successors, transferees and assigns acting in the capacity of Administrative Agent under the Credit Agreement. Subject to and upon Discharge of the Credit Agreement, Secured Party shall (within a reasonable time after it receives from Grantors a written request for release of the Collateral) execute and deliver to Grantors an instrument in form and substance satisfactory to Secured Party releasing (on a quitclaim basis, without recourse, without warranty, and without any liability whatsoever) any security interest Secured Party may then hold in the Collateral and thereupon Secured Party shall, at Grantors' expense, execute and deliver to Grantors such UCC termination statements and other like documents as Grantors may reasonably request to evidence such release.

Continuing Security Interests; Release. This Agreement creates continuing security interests in the Collateral and shall (a) remain in full force and effect until the Discharge of the Credit Agreement, (b) be binding upon each Grantor and its successors and assigns, and (c) inure, together with the rights and remedies of Secured Party hereunder, to the benefit of and be enforceable by Secured Party and its successors, transferees and assigns acting in the capacity of Administrative Agent under the Credit Agreement. Subject to and upon Discharge of the Credit Agreement, or other release permitted hereunder or under the Credit Agreement Secured Party shall (within a reasonable time after it receives from Grantors Grantor a written request for release of the Collateral) execute and deliver to Grantors Grantor an instrument in form and substance satisfactory to Secured Party Grantor releasing (on a quitclaim basis, without recourse, without warrantywarranty (except as to Secured Party's actions), and without any liability whatsoever) any security interest Secured Party may then hold in the Collateral and thereupon Secured Party shall, at Grantors' Grantor's expense, execute and deliver to Grantors Grantor such UCC termination statements and other like documents as Grantors Grantor may reasonably request to evidence such release.

Continuing Security Interests; Release. This Agreement creates continuing security interests in the Collateral and shall (a) remain in full force and effect until the Discharge of the Credit Agreement, (b) be binding upon each Grantor and its successors and assigns, and (c) inure, together with the rights and remedies of Secured Party hereunder, to the benefit of and be enforceable by Secured Party and its successors, transferees and assigns acting in the capacity of Administrative Agent under the Credit Agreement. Subject to and upon Discharge of the Credit Agreement or other release permitted hereunder or under the Credit Agreement, Secured Party shall (within a reasonable time after it receives from Grantors Grantor a written request for release of the Collateral) execute and deliver to Grantors Grantor an instrument in form and substance satisfactory to Secured Party Grantor releasing (on a quitclaim basis, without recourse, without warrantywarranty (except as to Secured Party's actions), and without any liability whatsoever) any security interest Secured Party may then hold in the Collateral and thereupon Secured Party shall, at Grantors' Grantor's expense, execute and deliver to Grantors Grantor such UCC termination statements and other like documents as Grantors Grantor may reasonably request to evidence such release.

Continuing Security Interests; Release. This Agreement creates continuing security interests in the Collateral and shall (a) remain in full force and effect until the Discharge of the Credit AgreementObligations, (b) be binding upon each Grantor and its successors and assigns, and (c) inure, together with the rights and remedies of Secured Party hereunder, to the benefit of and be enforceable by Secured Party and its successors, transferees and assigns acting in the capacity of Administrative Agent under the Credit Term Loan Agreement. Subject to and upon Discharge of the Credit Obligations or in connection with a sale or other disposition of any Collateral permitted under the Term Loan Agreement, Secured Party shall (within a reasonable time as soon as reasonably practicable after it receives from Grantors Grantor a written request for release of the Collateral) execute and deliver to Grantors Grantor an instrument in form and substance satisfactory to Secured Party releasing (on a quitclaim basis, without recourse, without warranty, and without any liability whatsoever) any security interest Secured Party may then hold in the Collateral and thereupon Secured Party shall, at Grantors' Grantor's expense, execute and deliver to Grantors Grantor such UCC Uniform Commercial Code termination statements and other like documents as Grantors Grantor may reasonably request to evidence such release.