Common use of Authority of Administrative Agent to Release Collateral and Liens Clause in Contracts

Authority of Administrative Agent to Release Collateral and Liens. Each Lender and the Issuing Bank hereby authorizes the Administrative Agent to release any collateral, and to release any Person from its respective Security Instruments, in each case that is permitted to be sold or released, as the case may be, pursuant to the terms of the Loan Documents. Each Lender and the Issuing Bank hereby authorizes the Administrative Agent to execute and deliver to the Borrower, at the Borrower’s sole cost and expense, any and all releases (whether regarding Liens, Persons or otherwise), termination statements, assignments or other documents reasonably requested by the Borrower in connection with any sale or other disposition of Property or release of Person, to the extent such sale, other disposition or release is permitted by the terms of Section 9.12 or is otherwise authorized by the terms of the Loan Documents.

Authority of Administrative Agent to Release Collateral and Liens. Each Lender and the Issuing Bank hereby authorizes the Administrative Agent to release any collateral, and to release any Person from its respective Security Instruments, in each case collateral that is permitted to be sold or released, as the case may be, released pursuant to the terms of the Loan Documents. Each Lender and the Issuing Bank hereby authorizes the Administrative Agent to execute and deliver to the Borrower, at the Borrower’s sole cost and expenseexpense and without the consent of any Lender or the “Majority Lenders” or the “Required Lenders” being required, any and all releases (whether regarding of Liens, Persons or otherwise), termination statements, assignments or other documents reasonably requested by the Borrower in connection with any sale or other disposition of Property or release of Person, to the extent such sale, sale or other disposition or release is permitted by the terms of Section 9.12 or is otherwise authorized by the terms of the Loan Documents.