Security Termination Sample Clauses

Security Termination. (a) The Mexican Trust Agreement shall (i) remain in full force and effect until the payment in full of the Borrower’s obligations under the Notes and hereunder, (ii) be binding upon the Borrower, its successors and assigns, and (iii) inure, together with the rights and remedies of the Lender hereunder and thereunder, to the benefit of the Lender and its permitted successors, transferees and assigns. (b) Immediately upon the payment in full of the Borrower’s obligations under the Notes, this Agreement and the Mexican Trust Agreement shall terminate and all rights to the Equipment shall revert to the Borrower. Upon any such termination, the Lender shall execute and deliver, and instruct the Trustee to execute and deliver, to, or as directed in writing by, the Borrower an appropriate instrument (in due form for recording) furnished by the Borrower conveying and/or releasing the Equipment from the Mexican Trust Agreement within five (5) days of the Lender’s receipt of a written request therefor from the Borrower.

Security Termination the date upon which Payment in Full has occurred and the expiration or termination of all Qualified Hedging Agreements and payment in full of all obligations owing by any Loan Party thereunder (other than Qualified Hedging Agreements as to which arrangements satisfactory to the applicable Secured Qualified Counterparty shall have been made).

Security Termination. The Secured Parties party hereto irrevocably authorize the Security Agent to release any Transaction Security granted to or held by the Security Agent upon any Charged Property upon Security Termination or, in respect of the Charged Property subject to the Cobalt LP Mortgage, upon the occurrence of the BOEMRE Approval Date.

Security Termination. Payment in Full and the expiration or termination of all Qualified Hedging Agreements and payment in full of all obligations owing by any Loan Party thereunder (other than Qualified Hedging Agreements as to which arrangements satisfactory to the applicable Qualified Counterparty shall have been made). Services Provider: Diversified Production LLC, a Pennsylvania limited liability company.