Common use of Performance by Debtor Clause in Contracts

Performance by Debtor. Upon full payment of the Note and performance of the obligations under the Security Agreement, this Agreement shall terminate, at which time Secured Party shall release, reassign and redeliver to Debtor all Collateral and related documents then in the possession of Secured Party, including any applicable termination statements under the Uniform Commercial Code. Notwithstanding the foregoing, if any such payment is thereafter set aside, recovered, rescinded or required to be returned for any reason (including, without limitation, the bankruptcy, insolvency or reorganization of the Debtor or any other obligor), the indebtedness to which such payment was applied shall for the purpose of this Security Agreement be deemed to have continued in existence, notwithstanding such application, and this Security Agreement shall be enforceable as fully as if such application had never been made, and the parties will have all rights and obligations hereunder as if the payment was never made and such rights and obligations were never interrupted, including without limitation a redelivery by Debtor to Secured Party of the Collateral.

Performance by Debtor. Upon full payment of the Note and performance of the obligations under the Security Agreement, this Pledge Agreement shall terminate, at which time Secured Party shall release, reassign and redeliver to Debtor Guarantor all Pledge Collateral and related documents then in the possession of Secured Party, including any applicable termination statements under the Uniform Commercial Code. Notwithstanding the foregoing, if any such payment is thereafter set aside, recovered, rescinded or required to be returned for any reason (including, without limitation, the bankruptcy, insolvency or reorganization of the Debtor or any other obligorGuarantor), the indebtedness to which such payment was applied shall for the purpose of this Security Pledge Agreement be deemed to have continued in existence, notwithstanding such application, and this Security Pledge Agreement shall be enforceable as fully as if such application had never been made, and the parties will have all rights and obligations hereunder as if the payment was never made and such rights and obligations were never interrupted, including without limitation a redelivery by Debtor Guarantor to Secured Party of the Pledged Collateral.