Common use of Release of Security Agreement Clause in Contracts

Release of Security Agreement. 1. As an accommodation to Borrower and for good and valuable consideration, Lender, with this Loan Modification Agreement, has agreed to release its security interest granted under the Security Agreement and the related UCC financing statements provided that no Event of Default has occurred and is continuing.

Release of Security Agreement. 1. As an accommodation to Borrower and for good and valuable consideration, Lender, with this Loan Modification Agreement, has agreed to release its security interest granted under the Security Agreement and the related UCC financing statements provided that no Event of Default has occurred and is continuingstatements.