Common use of Termination of Security Interest and Agreement Clause in Contracts

Termination of Security Interest and Agreement. Upon the payment in full of all Obligations (other than inchoate indemnity obligations and obligations arising under the Warrant) and the termination of any commitment to make the Loan, this Agreement and the security interest granted herein shall terminate and all rights to the Collateral shall revert to Borrower; provided, however, that provisions set forth herein which, by their nature, are intended to be performed after such termination, shall survive the termination of this Agreement. Upon transmission of such payment and Agent’s or Lenders’ written verification to Borrower of receipt of such payment, which verification shall not be unreasonably delayed, withheld or conditioned, Agent and Lenders hereby authorize Borrower to file any UCC termination statements necessary to effect such termination and Agent and Lenders will return any Collateral in its possession to Borrower and will execute and deliver to Borrower any additional documents or instruments as Borrower shall reasonably request to evidence such termination.