Common use of Release, Reassignment or Discharge Clause in Contracts

Release, Reassignment or Discharge. Upon the irrevocable and unconditional payment in full or discharge (or any combination of the foregoing) of all the Issuer Secured Obligations and upon the Issuer Security Trustee being satisfied that the Master Issuer is under no further actual or contingent obligation under this Deed or any other Issuer Transaction Document, the Issuer Security Trustee shall, at the request and cost of the Master Issuer, release, reassign and/or discharge from the Issuer Security all of the Issuer Charged Property to, or to the order of, the Master Issuer; provided that where any such release, re-assignment or discharge is made in whole or in part on the faith of any payment, security or other disposition which is avoided or which must be repaid on bankruptcy, liquidation or otherwise, the security constituted by this Deed and the liability of the Master Issuer hereunder shall continue as if there had been no such release, re-assignment or discharge.