Common use of Release, Reassignment or Discharge Clause in Contracts

Release, Reassignment or Discharge. Upon the irrevocable and unconditional payment in full or discharge (or any combination of the foregoing) of all the Current Issuer Secured Obligations and upon the Note Trustee being satisfied that the Current Issuer is under no further actual or contingent obligation under this Current Issuer Deed of Charge or any other Current Issuer Transaction Document, the Note Trustee shall, at the request and cost of the Current Issuer, release, reassign and/or discharge from the Security Interests (including the Jersey Security Interests) all of the Current Issuer Charged Property to, or to the order of, the Current Issuer; provided that where any such release, re-assignment or discharge is made in whole or in part on the faith of any payment, security or other disposition which is avoided or which must be repaid on bankruptcy, liquidation or otherwise, the security constituted by this Current Issuer Deed of Charge and the liability of the Current Issuer hereunder shall continue as if there had been no such release, re-assignment or discharge.

Release, Reassignment or Discharge. Upon the irrevocable and unconditional payment in full or discharge (or any combination of the foregoing) of all the Current Issuer Secured Obligations and upon the Note Trustee being satisfied that the Current Issuer is under no further actual or contingent obligation under this Current Issuer Deed of Charge or any other Current Issuer Transaction Document, the Note Trustee shall, at the request and cost of the Current Issuer, release, reassign and/or discharge from the Security Interests (including the Jersey Security Interests) all of the Current Issuer Charged Property to, or to the order of, the Current Issuer; provided that where any such release, re-re- assignment or discharge is made in whole or in part on the faith of any payment, security or other disposition which is avoided or which must be repaid on bankruptcy, liquidation or otherwise, the security constituted by this Current Issuer Deed of Charge and the liability of the Current Issuer hereunder shall continue as if there had been no such release, re-re- assignment or discharge.