Common use of Disposition of the Work Clause in Contracts

Disposition of the Work. Unless and to the extent that Purchaser retains Deliverable Items or portions thereof pursuant to Article 23.1.3 hereof, upon payment in full of all amounts due in accordance with Article 23.1.2, any Security Interest or other right or interest that Purchaser has in such items (except with respect to Deliverable Items retained by Purchaser pursuant to Article 23.1.3) hereunder or otherwise shall be released and extinguished and Purchaser shall take all action reasonably requested by Contractor to terminate any document or instrument filed of record (including without limitation UCC financing statements) to perfect any such Security Interest.

Appears in 2 contracts

Sources: Contract for Terrestar 1 (Terrestar Corp), Contract for Terrestar 2 (Terrestar Corp)