Common use of Release of Security Agreement Clause in Contracts

Release of Security Agreement. This Security Agreement is made for collateral purposes only. Upon payment in full of Pledgor’s Liabilities and termination of the Loan Documents, Pledgee shall take such actions as may be necessary or proper to terminate the security interests created hereby and pursuant to the Loan Documents.

Appears in 2 contracts

Sources: Credit Agreement (Quixote Corp), Credit Agreement (Quixote Corp)