Physics.OverlapSphere (onExit)?

Hi,
Im setting a boolean to true when Physics.OverlapSphere how would I make the boolean false when no longer overlapping?

var radius = 5.0;
var colliders : Collider[]; 

function Update() 
{
    var spherePos : Vector3 = transform.position;
       colliders = Physics.OverlapSphere (spherePos, radius);
    
    for (var hit : Collider in colliders) 
    {
        if (!hit) continue; // avoid null references (should not occur, but...)
        
        if (hit)
        {
            hit.gameObject.GetComponent(Lighter).selectable = true;
        }
        
    }
}

//to draw the sphere
function OnDrawGizmosSelected () {
    // Draw a yellow sphere at the transform's position
    Gizmos.color = Color.yellow;
    Gizmos.DrawSphere (transform.position, radius);
}

I’ve tried this and a few other things but to no avail

else
{
hit.gameObject.GetComponent(Lighter).selectable = false;
}

when I move the sphere out of range it does update the collider list (removing this object) but i cant change selectable to false?

why don’t you use OnTriggerEnter/Stay and Exit???

or use second overlapSphere with higher radius.