Common use of Release; Termination Clause in Contracts

Release; Termination. (a) Upon any sale, lease, transfer or other disposition of any item of Collateral of any Grantor in accordance with the terms of the Loan Documents or otherwise as specified in Section 9.10 of the Credit Agreement, the security interest in such Collateral granted hereunder shall be automatically released without and action required on the part of the Administrative Agent or any Secured Party and the Administrative Agent will, at such Grantor’s expense, execute and deliver to such Grantor such documents as such Grantor or the applicable transferee shall reasonably request to evidence the release of such item of Collateral from the assignment and security interest granted hereby.

Release; Termination. (a) Upon any sale, lease, transfer or other disposition of any item of Collateral of the Grantor to any Grantor Person other than a Subsidiary that is required to be a Guarantor in accordance with a transaction which is permitted by the terms of the Loan Documents or otherwise as specified in Section 9.10 of the Credit Agreement, the security interest in such Collateral granted hereunder shall will be automatically released without sold, leased, transferred or otherwise disposed of free and action required on the part clear of the Administrative Agent or any Secured Party Liens created hereby, and the Administrative Agent will, at such the Grantor’s expense, execute and deliver to such the Grantor such documents as such the Grantor or the applicable transferee shall reasonably request to evidence the release of such item of Collateral from the assignment and security interest granted hereby.

Release; Termination. (a) Upon any sale, lease, transfer or other disposition of any item of Collateral of any Grantor to any person other than another Grantor in accordance with a transaction which is permitted by the terms of the Loan Documents Credit Agreement and the Articles of Association of the Company, such Collateral will be sold, leased, transferred or otherwise as specified in Section 9.10 disposed of free and clear of the Credit AgreementLiens created hereby, and the security interest in such Collateral granted hereunder shall be automatically released without and action required on the part of the Administrative Agent or any Secured Party and the Administrative Agent will, at such Grantor’s 's expense, execute and deliver to such Grantor such documents as such Grantor or the applicable transferee shall reasonably request to evidence the release of such item of Collateral from the assignment and security interest granted hereby.