Common use of Final Release Clause in Contracts

Final Release. (a) The Secured Party is not obliged to release the Secured Property from this document and the Security Interest created under Clause 3.1 if, at the time the requirements of Clause 3.1 are satisfied, the Secured Party is of the opinion that: (i) any Secured Money may be owed contingently or otherwise to the Secured Party or any Obligations are yet to be fully performed; or (ii) Secured Money will be owed or Obligations will need to be performed within a reasonable time after the date the Grantor requests the discharge of the Security Interest created under this document. (b) Clause 3.3(a) overrides any other Clause to the contrary in this document. (c) The parties intend that Clause 3.3(a)(ii) be severed from Clause 3.3(a) if Clause 3.3(a)(ii) is void or unenforceable under applicable law. (d) The parties do not intend Clause 3.3(c) to exclude the general law of severance from applying to this document.