Automatic Release. If any Collateral is the subject of a Disposition (other than to another Loan Party) which is permitted under Section 6.05, the Liens in the Collateral granted under the Loan Documents shall automatically terminate and the Collateral will be disposed of free and clear of all such Liens.
Automatic Release. As provided in Section 9.02 of the Credit Agreement, a Guarantor shall be automatically released from its obligations under this Guarantee upon the satisfaction of the conditions set forth therein.
Automatic Release. If any Collateral (i) is the subject of a Disposition (other than to another Loan Party) which is permitted under Section 6.05 or (ii) becomes an Excluded Asset (other than Excluded Assets pursuant to clauses (i) or (k) of the definition thereof and/or clause (b) of the definition of “Excluded Equity Interests”) , the Liens in such Collateral granted under the Loan Documents shall automatically terminate and such Collateral will be (in the case of a Disposition, when disposed of) free and clear of all such Liens.
Automatic Release. The Charged Assets shall be immediately and automatically released from the IM-Security Interest upon
(a) the occurrence of the Final Security Release Date, the Parties complying with their respective obligations under Clause 11(3) (Final release) and the effective transfer of all Charged Assets in accordance with such instructions; or
(b) the Single Pledgor Pledged Account Agreement having been terminated in accordance with its terms and the transfer of the Charged Assets in accordance with its terms.
Automatic Release. If any Obligor sells any Collateral which is permitted to be disposed of under Section 8.05, the Liens in the Collateral granted to the Agent under the Basic Document shall automatically terminate and the Collateral will be disposed of free and clear of all Liens of the Agent.
Automatic Release. If any Loan Party sells any Collateral which is permitted to be disposed of under Section 6.05, the Liens in the Collateral granted to the Administrative Agent under the Loan Documents shall automatically terminate and the Collateral will be disposed of free and clear of all Liens of the Administrative Agent.
Automatic Release. Administrative Agent, each Lender, and the Credit Parties agree that:
(a) any Lien granted to or held by the Administrative Agent (for the benefit of the Secured Parties) under any Loan Document shall be automatically released (A) from all Collateral upon payment in full of all Obligations (other than contingent indemnification obligations) and termination of the Commitments hereunder, (B) from the Collateral subject to such Disposition permitted hereunder, at the time the property subject to such Lien is transferred in connection with the consummation of any Disposition permitted hereunder or under any other Loan Document to any Person other than a Credit Party (and, upon written request from the Borrower identifying the property to be transferred pursuant to this clause (B) and confirming that such Disposition is permitted hereunder, the Administrative Agent (at the direction of the Requisite Term Lenders and Requisite Bridge Lenders) shall (without further investigation) provide to the Borrower within ten (10) Business Days a written acknowledgment that such property shall be automatically released upon consummation of the Disposition pursuant to this clause (B)), (C) if approved, authorized or ratified in writing in accordance with this Agreement, or (D) if the Collateral subject to such Lien is owned by a Guarantor, upon release of such Guarantor from its obligations under its Guarantee pursuant to clause (b) below; and
(b) any Guarantor shall be automatically released from its obligations under the Guarantee if such Person ceases to be a Guarantor as a result of a transaction permitted hereunder. In each case as specified in this Section 10.20, the Administrative Agent (at the direction of the Requisite Term Lenders and Requisite Bridge Lenders) will promptly, at the Borrower’s expense, execute and deliver to the applicable Credit Party such documents as such Credit Party may reasonably request to evidence the release of such item of Collateral from the Liens granted under the Loan Documents or to release such Guarantor from its obligations under the Guarantee, in each case in accordance with the terms of the Loan Documents. To the extent of any inconsistency between this Section 10.20 and Section 8.10, Section 8.10 shall govern.
Automatic Release. If, under the operation of any provisions of this Agreement an interest in the Contract Acreage or acreage made subject to this Agreement pursuant to Section 2.4 is excluded or relinquished or expire or is or becomes no longer subject to this Agreement, including but not limited to the Lease(s) terminating under the provisions stated in said Lease(s), the excluded or relinquished or expired Lease(s), or any portion thereof will automatically be deemed to be released by Company and no longer subject to earning by Company under this Agreement. After the release or relinquishment by Company or automatic release under Section 9.3 of the Lease(s) or any portion thereof subject to this Agreement as provided under this Article 9, Chevron shall be free to drill, sell, farmout, joint venture or dispose of in any manner it so chooses, the released acreage. Company hereby agrees and releases Chevron from any liability whatsoever with regard to the released acreage relating to the activities of Company and any information and/or data Company may have given to Chevron in regard thereto. In the event Chevron discloses Company-owned confidential data obtained under and through this Agreement to any Third Party within two (2) years of the release of acreage, Chevron shall require the Third Party to execute an appropriate confidentiality agreement.
Automatic Release. If the Escrowed Shares, or any part thereof, (collectively, the "Remaining Balance"), has not been otherwise released by the Escrow Agent pursuant to Section 4.1 by 5:00 p.m. on the Termination Date, then the Escrow Agent shall at 12:00 noon on the following Business Day release and deliver the Remaining Balance to Macnor and thereby be forever released from any and all obligations or liabilities in respect thereof.
Automatic Release. On arrival at terminals, Engineers are automatically released; and when used again a new day will commence, except as provided in Rules 4 and 22. In inclement weather Engineers will not be required to backup, except in cases of doubling, break-in-two, wrecks, washouts, broken-down engine on passenger train, snow blockades, running for fuel or water, or when in work or construction service.
