Termination; Succession; Assignment Sample Clauses

Termination; Succession; Assignment. This Agreement shall (a) terminate as described below in this Section 19, (b) benefit Collateral Agent, its successors, assigns and any other holder who derives from Collateral Agent title to or interest in any Obligations and (c) shall bind Company and Company’s heirs, executors, administrators, successors and assigns. Without limiting the generality of the foregoing, Collateral Agent may assign or otherwise transfer all or any portion of its rights under this Agreement held by it to any other person or entity, and such other person or entity shall thereupon become vested with all the benefits in respect thereof granted to Collateral Agent herein or otherwise. Upon the first to occur of either (i) Conversion pursuant to the 8% Note or (ii) (a) the payment and performance in full of all of the Obligations and (b) the termination of any and all obligations of Collateral Agent hereunder, the security interest granted hereby shall terminate and all rights to the Collateral shall revert to Company. Upon any such termination, Collateral Agent will, at Company’s expense, execute and deliver to Company such documents as Company shall reasonably request to evidence such termination.

Termination; Succession; Assignment