Common use of Termination; Release Clause in Contracts

Termination; Release. When all the Secured Obligations have been paid in full and the Commitments of the Lenders to make any Loan or to issue any Letter of Credit under the Credit Agreement shall have expired or been sooner terminated and all Letters of Credit have been terminated or cash collateralized in accordance with the provisions of the Credit Agreement, this Mortgage shall terminate. Upon termination hereof or any release of the Mortgaged Property or any portion thereof in accordance with the provisions of the Credit Agreement, the Mortgagee shall, upon the request and at the sole cost and expense of the Mortgagor, forthwith assign, transfer and deliver to the Mortgagor, against receipt and without recourse to or warranty by the Mortgagee, such of the Mortgaged Property to be released (in the case of a release) as may be in possession of the Mortgagee and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Mortgaged Property, proper documents and instruments (including UCC-3 termination statements or releases) acknowledging the termination hereof or the release of such Mortgaged Property, as the case may be.

Appears in 2 contracts

Sources: Credit Agreement (Novelis Inc.), Credit Agreement (Novelis South America Holdings LLC)

Termination; Release. When all the Secured Obligations have been paid in full and the Commitments of the Lenders to make any Loan or to issue any Letter of Credit under the Credit Agreement shall have expired or been sooner terminated and all Letters of Credit have been terminated or cash collateralized in accordance with the provisions of the Credit Agreement, this Mortgage Agreement shall terminate. Upon termination hereof of this Agreement the Pledged Collateral shall be released from the Lien of this Agreement. Upon such release or any release of the Mortgaged Property or any portion thereof Security Agreement Collateral in accordance with the provisions of the Credit Agreement, the Mortgagee Collateral Agent shall, upon the request and at the sole cost and expense of the MortgagorPledgors, forthwith assign, transfer and deliver to the MortgagorPledgor, against receipt and without recourse to or warranty by the MortgageeCollateral Agent except as to the fact that Collateral Agent has not encumbered the released assets, such of the Mortgaged Property Security Agreement Collateral to be released (in the case of a release) as may be in possession of the Mortgagee Collateral Agent and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Mortgaged PropertySecurity Agreement Collateral, proper documents and instruments (including UCC-3 termination statements or releases) acknowledging the termination hereof or the release of such Mortgaged PropertySecurity Agreement Collateral, as the case may be.

Appears in 2 contracts

Sources: Credit Agreement (Cpi International, Inc.), Credit Agreement (Cpi International, Inc.)

Termination; Release. When all the Secured Obligations have been paid in full (other than contingent indemnification obligations not yet due and the Commitments of the Lenders payable) and no commitments remain under Additional Secured Debt Documents to make any Loan or to issue any Letter of Credit under the Credit Agreement shall have expired or been sooner terminated and all Letters of Credit have been terminated or cash collateralized in accordance with the provisions of the Credit Agreementextend credit that would constitute Secured Obligations, this Mortgage Agreement shall terminate. Upon termination hereof or any release of this Agreement the Mortgaged Property Collateral shall be released from the Lien of this Agreement. In addition, the Collateral or any portion thereof in accordance with shall be released from the provisions Lien of this Agreement pursuant to the Credit AgreementIndenture. Upon any such release, the Mortgagee Collateral Agent shall, upon the request and at the sole cost and expense of the MortgagorPledgors, forthwith assign, transfer and deliver to the Mortgagorapplicable Pledgor(s), against receipt and without recourse to or warranty by the MortgageeCollateral Agent except as to the fact that the Collateral Agent has not encumbered the released assets, such of the Mortgaged Property Collateral or any part thereof to be released (in the case of a release) as may be in possession of the Mortgagee Collateral Agent and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Mortgaged PropertyCollateral, proper documents and instruments (including UCC-3 termination financing statements or releases) acknowledging the termination hereof or the release of such Mortgaged PropertyCollateral, as the case may be, in form and substance reasonably satisfactory to the Pledgors.

Appears in 2 contracts

Sources: First Lien Security Agreement (iPCS, INC), Second Lien Security Agreement (iPCS, INC)

Termination; Release. When all the Secured Obligations (other than Treasury Obligations) have been paid in full, all Treasury Obligations have been paid in full or otherwise collateralized in a manner satisfactory to the holders and providers of the Treasury Obligations, in their sole discretion, and the Commitments of the Lenders to make any Loan or to issue any Letter of Credit under the Credit Agreement shall have expired or been sooner terminated and all Letters of Credit have been terminated or cash collateralized in accordance with the provisions of the Credit Agreement, this Mortgage Agreement shall terminate. Upon termination hereof of this Agreement the Pledged Collateral shall be released from the Lien of this Agreement. Upon such release or any release of the Mortgaged Property Pledged Collateral or any portion part thereof in accordance with the provisions of the Credit Agreement, the Mortgagee Collateral Agent shall, upon the request and at the sole cost and expense of the MortgagorPledgors, forthwith assign, transfer and deliver to the Mortgagorrelevant Pledgor, against receipt and without recourse to or warranty by the MortgageeCollateral Agent except as to the fact that the Collateral Agent has not encumbered the released assets, such of the Mortgaged Property Pledged Collateral or any part thereof to be released (in the case of a release) as may be in possession of the Mortgagee Collateral Agent and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Mortgaged PropertyPledged Collateral, proper documents and instruments (including any necessary UCC-3 termination financing statements or releases) acknowledging the termination hereof or the release of such Mortgaged PropertyPledged Collateral, as the case may be.

Appears in 2 contracts

Sources: Security Agreement (Novelis Inc.), Credit Agreement (Novelis South America Holdings LLC)

Termination; Release. When all the Secured Obligations (other than contingent obligations for which no claim has been asserted) have been paid in full and the Commitments of the Lenders to make any Loan or to issue any Letter of Credit under the Credit Agreement shall have expired or been sooner terminated and all Letters of Credit have been terminated or cash collateralized in accordance with the provisions of the Credit Agreement, this Mortgage Agreement shall terminate. Upon termination hereof of this Agreement the Pledged Collateral shall be released from the Lien of this Agreement. Upon such release or any release of the Mortgaged Property a Pledgor herefrom or Pledged Collateral or any portion part thereof in accordance with the provisions of the Credit Agreement, the Mortgagee liens and security interests in the Equity Interests of such Pledgor or such Pledged Collateral shall automatically terminate and the Collateral Agent shall, upon the request and at the sole cost and reasonable expense of the MortgagorPledgors, forthwith assign, transfer and deliver to the Mortgagorany applicable Pledgor, against receipt and without recourse to or warranty by the MortgageeCollateral Agent except as to the fact that the Collateral Agent has not encumbered the released assets, such of the Mortgaged Property to be Pledged Collateral or any part thereof so released (in the case of a release) as may be in possession of the Mortgagee Collateral Agent and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Mortgaged PropertyPledged Collateral, proper documents and instruments (including UCC-3 termination statements or releases) acknowledging the termination hereof or the release of such Mortgaged PropertyPledged Collateral, as the case may be.

Appears in 2 contracts

Sources: Security Agreement (Xperi Holding Corp), Security Agreement (Tessera Holding Corp)

Termination; Release. When all the Secured Obligations have been paid in full and the Commitments of the Lenders to make any Loan or to issue any Letter of Credit under the Credit Agreement shall have expired or been sooner terminated and all Letters of Credit have been terminated or cash collateralized in accordance with the provisions of the Credit Agreement, this Mortgage Agreement shall terminate. Upon termination hereof of this Agreement the Pledged Collateral shall be released from the Lien of this Agreement. Upon such release or any release of the Mortgaged Property Pledged Collateral or any portion part thereof in accordance with the provisions of the Credit Agreement, the Mortgagee Collateral Agent shall, upon the request and at the sole cost and expense of the MortgagorPledgors, forthwith assign, transfer and deliver to the MortgagorPledgor, against receipt and without recourse to or warranty by the MortgageeCollateral Agent except as to the fact that the Collateral Agent has not encumbered the released assets, such of the Mortgaged Property Pledged Collateral or any part thereof to be released (in the case of a release) as may be in possession of the Mortgagee Collateral Agent and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Mortgaged PropertyPledged Collateral, proper documents and instruments (including UCC-3 termination financing statements or releases) acknowledging the termination hereof or the release of such Mortgaged PropertyPledged Collateral, as the case may be.

Appears in 1 contract

Sources: Credit Agreement (Navisite Inc)

Termination; Release. When all the Secured Obligations have been paid in full and the Commitments of the Lenders to make any Loan or to issue any Letter of Credit under the Credit Agreement shall have expired or been sooner terminated and all Letters of Credit have been terminated or cash collateralized in accordance with the provisions of the Credit Agreement, this Mortgage Agreement shall terminate. Upon termination of this Agreement, the Pledged Collateral shall be released from the Lien of this Agreement and the applicable Subsidiary Guarantor shall be relieved of its obligations under this Agreement. Upon termination hereof or any release of the Mortgaged Property or any portion thereof Pledged Collateral in accordance with the provisions of the Credit Agreement, the Mortgagee Collateral Agent shall, upon the request and at the sole cost and expense of the MortgagorPledgors, forthwith assign, transfer and deliver to the Mortgagoreach Pledgor, against receipt and without recourse to or warranty by the MortgageeCollateral Agent, such of the Mortgaged Property Pledged Collateral to be released (in the case of a release) as may be in possession of the Mortgagee Collateral Agent and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Mortgaged PropertyPledged Collateral, proper documents and instruments (including UCC-3 termination statements or releases) acknowledging the termination hereof or the release of such Mortgaged PropertyPledged Collateral, as the case may be.

Appears in 1 contract

Sources: Security Agreement (Colonial Downs, LLC)

Termination; Release. When all the Secured Obligations have been paid in full and the Commitments of the Lenders to make any Loan or to issue any Letter of Credit under the Credit Agreement shall have expired or been sooner terminated and all Letters of Credit have been terminated or cash collateralized in accordance with the provisions of the Credit Agreement, this Mortgage Agreement shall terminate. Upon termination hereof of this Agreement the Pledged Collateral shall be released from the Lien of this Agreement. Upon such release or any release of the Mortgaged Property Pledged Collateral or any portion part thereof in accordance with the provisions of the Credit AgreementAgreement or the other Loan Documents, the Mortgagee Administrative Agent shall, upon the request and at the sole cost and expense of the MortgagorPledgors, forthwith assign, transfer and deliver to the MortgagorPledgor, against receipt and without recourse to or warranty by the MortgageeAdministrative Agent except as to the fact that the Administrative Agent has not encumbered the released assets, such of the Mortgaged Property Pledged Collateral or any part thereof to be released (in the case of a release) as may be in possession of the Mortgagee Administrative Agent and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Mortgaged PropertyPledged Collateral, proper documents and instruments (including UCC-3 UCC‑3 termination financing statements or releases) acknowledging the termination hereof or the release of such Mortgaged PropertyPledged Collateral, as the case may be.

Appears in 1 contract

Sources: Credit Agreement (American Renal Associates Holdings, Inc.)

Termination; Release. (a) When all the Secured Obligations have been paid in full and the Commitments of the Lenders to make any Loan or to issue any Letter of Credit under the Credit Agreement shall have expired or been sooner terminated and all Letters of Credit have been terminated or cash collateralized in accordance with the provisions of the Credit Agreementfull, this Mortgage Agreement shall terminate. Upon termination hereof of this Agreement the Pledged Collateral shall be released from the Lien of this Agreement. Upon such release or any release of the Mortgaged Property Pledged Collateral or any portion part thereof in accordance with the provisions of the Credit AgreementIndenture, the Mortgagee Collateral Agent shall, upon the request and at the sole cost and expense of the MortgagorPledgors, forthwith assign, transfer and deliver to the MortgagorPledgor, against receipt and without recourse to or warranty by the MortgageeCollateral Agent, such of the Mortgaged Property Pledged Collateral or any part thereof to be released (in the case of a release) as may be in possession of the Mortgagee Collateral Agent and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Mortgaged PropertyPledged Collateral, any proper documents and instruments (including UCC-3 termination financing statements or releases) acknowledging the termination hereof or the release of such Mortgaged PropertyPledged Collateral, as the case may be, which the Pledgors may reasonably request. (b) The Collateral Agent will release the liens on any part of the Collateral to the extent required by Section 5.1 of the Intercreditor Agreement.

Appears in 1 contract

Sources: Security Agreement (LNT Leasing II, LLC)

Termination; Release. When all the Secured Obligations have been paid Paid in full Full and the Commitments of the Lenders to make any Loan or to issue any Letter of Credit no commitments remain under the Credit Agreement shall have expired or been sooner terminated and all Letters of Credit have been terminated or cash collateralized in accordance with the provisions of the Credit AgreementAdditional Secured Debt Documents, this Mortgage Agreement shall terminate. Upon termination hereof or any release of this Agreement the Pledged Collateral and Mortgaged Property shall be released from the Lien of the Security Documents. In addition, the Pledged Collateral or Mortgaged Property or any portion thereof in accordance with shall be released from the provisions Lien of this Agreement pursuant to the Indenture, including without limitation, Section 10.3 of the Credit AgreementIndenture. Upon such release, the Mortgagee Collateral Agent shall, upon the request and at the sole cost and expense of the MortgagorPledgors, forthwith assign, transfer and deliver to the MortgagorPledgor, against receipt and without recourse to or warranty by the MortgageeCollateral Agent except as to the fact that the Collateral Agent has not encumbered the released assets, such of the Pledged Collateral or Mortgaged Property or any part thereof to be released (in the case of a release) as may be in possession of the Mortgagee Collateral Agent and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Pledged Collateral or Mortgaged Property, Property proper documents and instruments (including UCC-3 termination financing statements or releases, terminations of Control Agreements, Collateral Access Agreements, Intellectual Property Collateral filings and mortgages, as applicable) acknowledging the termination hereof or the release of such Pledged Collateral or Mortgaged Property, Property as the case may be.

Appears in 1 contract

Sources: Security Agreement (Ryerson International Material Management Services, Inc.)

Termination; Release. (a) When all the Secured Obligations have been paid Paid in full and the Commitments of the Lenders to make any Loan or to issue any Letter of Credit under the Credit Agreement shall have expired or been sooner terminated and all Letters of Credit have been terminated or cash collateralized in accordance with the provisions of the Credit AgreementFull, this Mortgage Agreement shall terminate. Upon termination hereof of this Agreement, the Collateral shall immediately and automatically be released from the Lien of this Agreement and all guarantees and other obligations (other than those that expressly survive termination) of each Grantor shall immediately and automatically terminate, all without delivery of any instrument or performance of any action by any party, and all rights to the Collateral shall automatically revert to the Grantors. Upon such release or any release of the Mortgaged Property or any portion thereof Collateral in accordance with the provisions of the Credit Agreement, the Mortgagee shallAdministrative Agent shall promptly, upon the request and at the sole cost and expense of the MortgagorGrantors, forthwith assign, transfer and deliver to the MortgagorGrantors, against receipt and without recourse to or warranty by the MortgageeAdministrative Agent except as to the fact that the Administrative Agent has not encumbered the released assets, such of the Mortgaged Property to be Collateral released (in the case of a release) as may be in possession of the Mortgagee Administrative Agent and as shall not have been sold or otherwise applied pursuant to the terms hereof, hereof and, with respect to any other Mortgaged PropertyCollateral, proper documents and instruments (including UCC-3 termination statements or releases) acknowledging the termination hereof or the release of such Mortgaged PropertyCollateral, as the case may be. Administrative Agent hereby authorized each Grantor to file UCC amendments and terminations or any other documentation at such time evidencing the termination of the Liens so released.

Appears in 1 contract

Sources: Credit Agreement (Landmark Infrastructure Partners LP)

Termination; Release. The Pledged Collateral shall be released from the Lien of this Agreement in accordance with the provisions of Section 6.05 or 6.06, as applicable, of the Second Lien Credit Agreement and the provisions of the Intercreditor Agreement. When all the Secured Obligations have been paid in full and the Commitments of the Lenders to make any Loan or to issue any Letter of Credit under the Second Lien Credit Agreement shall have expired or been sooner terminated and all Letters terminated, this Agreement shall terminate. Subject to the Intercreditor Agreement, upon termination hereof or any release of Credit have been terminated or cash collateralized Pledged Collateral in accordance with the provisions of the Credit Agreement, this Mortgage shall terminate. Upon termination hereof or any release of the Mortgaged Property or any portion thereof in accordance with the provisions of the Second Lien Credit Agreement, the Mortgagee Collateral Agent shall, upon the request and at the sole cost and expense of the MortgagorPledgors, forthwith assign, transfer and deliver to the Mortgagorapplicable Pledgor, against receipt and without recourse to or warranty by the MortgageeCollateral Agent except as to the fact that the Collateral Agent has not encumbered the released assets, such of the Mortgaged Property Pledged Collateral to be released (in the case of a release) as may be in possession of the Mortgagee Collateral Agent and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Mortgaged PropertyPledged Collateral, proper documents and instruments (including UCC-3 termination statements or releases) acknowledging the termination hereof or the release of such Mortgaged PropertyPledged Collateral, as the case may be.

Appears in 1 contract

Sources: Second Lien Pledge and Security Agreement (PGT, Inc.)

Termination; Release. When all the Secured Obligations (other than contingent indemnification Obligations as to which no claim has been asserted) have been paid in full and the Commitments of the Lenders to make any Loan or to issue any Letter of Credit under the Term Loan Credit Agreement shall have expired or been sooner terminated and all Letters of Credit have been terminated or cash collateralized in accordance with the provisions of the Term Loan Credit Agreement, this Mortgage Agreement shall terminate. Upon termination hereof of this Agreement, or as otherwise provided in the Term Loan Credit Agreement, the Collateral shall be automatically released from the Lien of this Agreement. Upon such release or any release of the Mortgaged Property Collateral or any portion part thereof in accordance with the provisions of the Term Loan Credit Agreement, the Mortgagee Collateral Agent shall, upon the request and at the sole cost and expense of the MortgagorPledgors, forthwith assign, transfer and deliver to the MortgagorPledgor, against receipt and without recourse to or warranty by the MortgageeCollateral Agent except as to the fact that the Collateral Agent has not encumbered the released assets, such of the Mortgaged Property Collateral or any part thereof to be released (in the case of a release) as may be in possession of the Mortgagee Collateral Agent and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Mortgaged PropertyCollateral, proper documents and instruments that any Pledgor shall reasonably request (including UCC-3 PPSA and UCC‑3 termination financing statements, financing change statements or releases) acknowledging the termination hereof or the release of such Mortgaged PropertyCollateral, as the case may be.

Appears in 1 contract

Sources: Credit Agreement (Norcraft Companies, Inc.)

Termination; Release. (a) When all the Secured Obligations have been paid in full and full, this Agreement shall terminate. Upon termination of this Agreement the Commitments Pledged Collateral shall be released from the Lien of this Agreement. Upon the transfer of any Pledged Collateral that is permitted by SECTION 7.19(A) or SECTION 8.05 of the Lenders Purchase Agreement to make a party that in not the Issuer or a Guarantor, such Pledged Collateral shall be released from the Lien of this Agreement. Upon such release or any Loan or to issue any Letter release of Credit under the Credit Agreement shall have expired or been sooner terminated and all Letters of Credit have been terminated or cash collateralized Pledged Collateral in accordance with the provisions of the Credit Agreement, this Mortgage shall terminate. Upon termination hereof or any release of the Mortgaged Property or any portion thereof in accordance with the provisions of the Credit Purchase Agreement, the Mortgagee Agent shall, upon the request and at the sole cost and expense of the MortgagorPledgors, forthwith assign, transfer and deliver to the MortgagorPledgor, against receipt and without recourse to or warranty by the MortgageeAgent except as to the fact that the Agent has not encumbered the released assets, such of the Mortgaged Property Pledged Collateral to be released (in the case of a release) as may be in possession of the Mortgagee Agent and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Mortgaged PropertyPledged Collateral, proper documents and instruments (including UCC-3 termination statements or releases) acknowledging the termination hereof or the release of such Mortgaged PropertyPledged Collateral, as the case may be.

Appears in 1 contract

Sources: Security Agreement (Terremark Worldwide Inc)

Termination; Release. When all the Secured Obligations have been paid in full and full, this Agreement shall terminate. Upon termination of this Agreement the Commitments Pledged Collateral shall be released from the Lien of this Agreement. Upon the transfer of any Pledged Collateral that is permitted by Section 7.19(a) or Section 8.05 of the Lenders Purchase Agreement to make a party that in not the Issuer or a Guarantor, such Pledged Collateral shall be released from the Lien of this Agreement. Upon such release or any Loan or to issue any Letter release of Credit under the Credit Agreement shall have expired or been sooner terminated and all Letters of Credit have been terminated or cash collateralized Pledged Collateral in accordance with the provisions of the Credit Agreement, this Mortgage shall terminate. Upon termination hereof or any release of the Mortgaged Property or any portion thereof in accordance with the provisions of the Credit Purchase Agreement, the Mortgagee Agent shall, upon the request and at the sole cost and expense of the MortgagorPledgors, forthwith assign, transfer and deliver to the MortgagorPledgor, against receipt and without recourse to or warranty by the MortgageeAgent except as to the fact that the Agent has not encumbered the released assets, such of the Mortgaged Property Pledged Collateral to be released (in the case of a release) as may be in possession of the Mortgagee Agent and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Mortgaged PropertyPledged Collateral, proper documents and instruments (including UCC-3 UCC 3 termination statements or releases) acknowledging the termination hereof or the release of such Mortgaged PropertyPledged Collateral, as the case may be.

Appears in 1 contract

Sources: Security Agreement (Terremark Worldwide Inc)

Termination; Release. When all the Secured Obligations have been paid Paid in full Full and the Commitments of the Lenders to make any Loan or to issue any Letter of Credit no commitments remain under the Credit Agreement shall have expired or been sooner terminated and all Letters of Credit have been terminated or cash collateralized in accordance with the provisions of the Credit AgreementAdditional Secured Debt Documents, this Mortgage Agreement shall terminate. Upon termination hereof or any release of this Agreement the Pledged Collateral and Mortgaged Property shall be released from the Lien of the Security Documents. In addition, the Pledged Collateral or Mortgaged Property or any portion thereof in accordance with shall be released from the provisions Lien of this Agreement pursuant to the Credit AgreementIndenture. Upon such release, the Mortgagee Collateral Agent shall, upon the request and at the sole cost and expense of the MortgagorPledgors, forthwith assign, transfer and deliver to the MortgagorPledgor, against receipt and without recourse to or warranty by the MortgageeCollateral Agent except as to the fact that the Collateral Agent has not encumbered the released assets, such of the Pledged Collateral or Mortgaged Property or any part thereof to be released (in the case of a release) as may be in possession of the Mortgagee Collateral Agent and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Pledged Collateral or Mortgaged Property, Property proper documents and instruments (including UCC-3 termination financing statements or releases, terminations of Control Agreements, Collateral Access Agreements, Intellectual Property Collateral filings and mortgages, as applicable) acknowledging the termination hereof or the release of such Pledged Collateral or Mortgaged Property, Property as the case may be.

Appears in 1 contract

Sources: Security Agreement (J.M. Tull Metals Company, Inc.)

Termination; Release. When all the Secured Obligations have been paid in full and the Commitments of the Lenders to make any Loan or to issue any Letter of Credit under the Credit Agreement shall have expired or been sooner terminated and all Letters of Credit have been terminated or cash collateralized in accordance with the provisions of the Credit Agreement, this Mortgage Agreement shall terminate. Upon termination hereof of this Agreement the Pledged Collateral shall be released from the Lien of this Agreement. Upon such release or any release of the Mortgaged Property Pledged Collateral or any portion part thereof in accordance with the provisions of the Credit Agreement, the Mortgagee Collateral Agent shall, upon the request and at the sole cost and expense of the MortgagorPledgors, forthwith assign, transfer and deliver to the Mortgagorrelevant Pledgor, against receipt and without recourse to or warranty by the MortgageeCollateral Agent except as to the fact that the Collateral Agent has not encumbered the released assets, such of the Mortgaged Property Pledged Collateral or any part thereof to be released (in the case of a release) as may be in possession of the Mortgagee Collateral Agent and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Mortgaged PropertyPledged Collateral, proper documents and instruments (including any necessary UCC-3 termination financing statements or releases) acknowledging the termination hereof or the release of such Mortgaged PropertyPledged Collateral, as the case may be.

Appears in 1 contract

Sources: Security Agreement (Itron Inc /Wa/)

Termination; Release. When all the Secured Obligations have been paid in full and the Commitments of the Lenders to make any Loan or to issue any Letter of Credit under the Credit Agreement shall have expired or been sooner terminated and all Letters of Credit have been terminated or cash collateralized in accordance with the provisions of the Credit Agreement, this Mortgage Agreement shall terminate. Upon termination hereof of this Agreement the Pledged Collateral shall be released from the Lien of this Agreement. Upon such release or any release of the Mortgaged Property Pledged Collateral or any portion part thereof in accordance with the provisions of the Credit Agreement, the Mortgagee Administrative Agent shall, upon the request and at the sole cost and expense of the MortgagorPledgors, forthwith assign, transfer and deliver to the Mortgagorrelevant Pledgor, against receipt and without recourse to or warranty by the MortgageeAdministrative Agent except as to the fact that the Administrative Agent has not encumbered the released assets, such of the Mortgaged Property Pledged Collateral or any part thereof to be released (in the case of a release) as may be in possession of the Mortgagee Administrative Agent and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Mortgaged PropertyPledged Collateral, proper documents and instruments (including UCC-3 any necessary UCC‑3 termination financing statements or releases) acknowledging the termination hereof or the release of such Mortgaged PropertyPledged Collateral, as the case may be. The Administrative Agent shall also be entitled to take any action with respect to the Pledged Collateral that it is authorized to take pursuant to Section 8.10 of the Credit Agreement.

Appears in 1 contract

Sources: Security Agreement (Itron Inc /Wa/)

Termination; Release. When all the Secured Obligations have been paid in full and the Commitments of the Lenders to make any Loan or to issue any Letter of Credit under the Credit Agreement shall have expired or been sooner terminated and all Letters of Credit have been terminated or cash collateralized in accordance with the provisions of the Credit AgreementIndenture, this Mortgage Agreement shall terminate. The Liens securing the Notes Obligations, will, automatically and without the need for any further action by any Person be released, in whole or in part, as provided in Section 8.1 of the Indenture. Upon termination hereof of this Agreement the Pledged Collateral shall be released from the Lien of this Agreement. Upon such release or any release of the Mortgaged Property Pledged Collateral or any portion part thereof in accordance with the provisions of the Credit AgreementIndenture or the other Notes Documents, the Mortgagee Collateral Agent shall, upon the request and at the sole cost and expense of the MortgagorPledgors, forthwith assign, transfer and deliver to the MortgagorPledgor, against receipt and without recourse to or warranty by the MortgageeCollateral Agent except as to the fact that the Collateral Agent has not encumbered the released assets, such of the Mortgaged Property Pledged Collateral or any part thereof to be released (in the case of a release) as may be in possession of the Mortgagee Collateral Agent and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Mortgaged PropertyPledged Collateral, proper documents and instruments (including UCC-3 termination financing statements or releases) acknowledging the termination hereof or the release of such Mortgaged PropertyPledged Collateral, as the case may be.

Appears in 1 contract

Sources: Security Agreement (American Renal Associates LLC)

Termination; Release. When all the Secured Obligations have been paid in full and the Commitments of the Lenders to make any Loan or to issue any Letter of Credit under the Credit Agreement shall have ceased, expired or been sooner terminated and all Letters of Credit have been terminated or cash collateralized in accordance with the provisions of the Credit Agreementterminated, this Mortgage Agreement shall terminate. Upon termination hereof or of this Agreement the Pledged Collateral shall be released from the Lien of this Agreement. Upon such release, any release of the Mortgaged Property Pledged Collateral or any portion part thereof in accordance with the provisions of the Credit Agreement, or any release of any Guarantor or Pledgor pursuant to the Mortgagee terms of the Credit Agreement or other Loan Documents, the Agent shall, upon the request and at the sole cost and expense of the MortgagorPledgors, forthwith assign, transfer and deliver to the MortgagorPledgor, against receipt and without recourse to or warranty by the MortgageeAgent except as to the fact that the Agent has not encumbered the released assets, such of the Mortgaged Property Pledged Collateral or any part thereof to be released, or the released Pledgor (in the case of a release) as may be in possession of the Mortgagee Agent and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Mortgaged PropertyPledged Collateral, proper documents and instruments (including UCC-3 termination financing statements or releases) acknowledging the termination hereof or the release of such Mortgaged PropertyPledged Collateral or the release of such Pledgor, as the case may be.

Appears in 1 contract

Sources: Security Agreement (Powerwave Technologies Inc)

Termination; Release. When all the Secured Obligations Initial Loans have been paid in full and the Commitments in accordance with Section 2.03(c) of the Lenders to make any Loan or to issue any Letter of Credit under the Credit Agreement shall have expired or the Collateral has been sooner terminated and all Letters of Credit have been terminated or cash collateralized released to Pledgor in accordance with the provisions Section 2.16(b)(i) of the Credit Agreement, thereafter any remaining Collateral shall be returned to the Pledgor and this Mortgage Agreement shall terminateautomatically terminate without recourse to or warranty by Bank or Administrative Agent. Upon termination hereof of this Agreement the Collateral shall be released from the Lien of this Agreement. Upon such release or any release of the Mortgaged Property Collateral or any portion part thereof in accordance with the provisions of the Credit this Agreement, the Mortgagee Bank shall, upon the request and at the sole cost and expense of the MortgagorPledgor, forthwith assign, transfer and deliver to the MortgagorPledgor, against receipt and without recourse to or warranty by the MortgageeBank except as to the fact that the Bank has not encumbered the released assets, such of the Mortgaged Property Collateral or any part thereof to be released (in the case of a release) as may be in possession of the Mortgagee Bank and as shall not have been sold or otherwise applied pursuant to the terms hereof, and, with respect to any other Mortgaged PropertyCollateral, proper documents and instruments (including UCC-3 termination financing statements or releases) acknowledging the termination hereof or the release of such Mortgaged PropertyCollateral, as the case may be.

Appears in 1 contract

Sources: Pre Funding Security Agreement (Nexeo Solutions Finance Corp)