Common use of Termination of Security Agreement Clause in Contracts

Termination of Security Agreement. This Security Agreement shall terminate (i) upon payment and performance in full of all of the Obligations and (ii) as to any item of Collateral, upon the Disposition of such Collateral as permitted in Section 3.14 hereof. Upon termination, at the request and sole cost and expense of a Grantor, and upon receipt by the Collateral Agent of confirmation from the Agent that all of the Obligations have been paid and performed in full, the Collateral Agent shall execute and deliver such documents and instruments reasonably requested by such Grantor to evidence the release of the Collateral (or such item of Collateral, as the case may be) from the Lien of the Security Documents; provided, however, that this Security Agreement shall earlier terminate and this Security Agreement shall be of no further force or effect upon any sale or other final disposition by the Collateral Agent of all property constituting part of the Collateral and the final distribution by the Collateral Agent of all monies or other property or proceeds constituting part of the Collateral in accordance with the terms hereof. Except as otherwise provided above, this Security Agreement shall continue in full force and effect in accordance with the terms hereof.

Termination of Security Agreement. This Security Agreement shall terminate (i) upon payment and performance in full of all of the Obligations and (ii) and, as to any item of Collateral, upon the Disposition transfer or disposition of such Collateral as permitted in Section 3.14 hereofherein. Upon termination, the Company shall direct, at the request and Company's sole cost and expense of a Grantor, and upon receipt by the Collateral Agent of confirmation from the Agent that all of the Obligations have been paid and performed in fullexpense, the Collateral Agent shall to execute and deliver such documents deliver, at the Company's sole cost and expense, to or as directed in writing by the Company appropriate instruments reasonably requested by such Grantor required to evidence release all the release of property included in the Collateral (or such item of Collateral, as the case may be) from the Lien of the Security DocumentsDocuments and the Collateral Agent shall execute and deliver such instruments as aforesaid; provided, however, that this Security Agreement shall earlier terminate and this Security Agreement shall be of no further force or effect upon any sale or other final disposition by the Collateral Agent of all property constituting part of the Collateral and the final distribution by the Collateral Agent of all monies or other property or proceeds constituting part of the Collateral in accordance with the terms hereof. Except as aforesaid otherwise provided aboveprovided, this Security Agreement shall continue in full force and effect in accordance with the terms hereof.