Procedure for Release. The Secured Party must effect any release of the Secured Property under Clause 3.1 by: (a) executing a deed of release confirming the release of the Secured Property from this document and the Security Interest created under it; and (b) at the election of the Grantor: (i) lodging with the Registrar a financing change statement amending the financing statement lodged by the Secured Party with respect to this document to reflect the release under Clause 3.1; or (ii) provide the Grantor with the token referrable to this document issued at the time of lodgement of the financing statement for this document with the Registrar and authorise the Grantor to use the token to lodge a financing change statement with the Registrar to amend the financing statement referrable to this document to reflect the release effected under Clause 3.1.
Appears in 2 contracts
Sources: Credit Agreement, Credit Agreement (Peabody Energy Corp)