Common use of Extent and Duration of Security Interest Clause in Contracts

Extent and Duration of Security Interest. The security interest created and granted herein is in addition to, and supplemental of, any security interest previously granted by any Credit Party to the Administrative Agent and shall continue in full force and effect applicable to all Liabilities until both (a) all Liabilities have been paid and/or satisfied in full and (b) the security interest created herein is specifically terminated in writing by a duly authorized officer of the Administrative Agent; provided, however, that the Administrative Agent shall release the security interest granted in Inventory and Prescription Lists which are sold or otherwise disposed of by the Credit Parties in connection with store closings expressly permitted hereunder and consistent with the Credit Parties' business plan provided to the Administrative Agent that do not otherwise cause a Default under Sections 4.29 or 6.1(iii). The Administrative Agent will terminate the security interest created hereunder promptly upon payment in full, in cash, of all the Liabilities and the termination and release of the Secured Parties' obligations hereunder and under the other Loan Documents.