Common use of Automatic Release of Liens Clause in Contracts

Automatic Release of Liens. If, at any time the Controlling Collateral Agent forecloses upon or otherwise exercises remedies against any Shared Collateral resulting in a sale or disposition thereof, then (whether or not any Insolvency or Liquidation Proceeding is pending at the time) the Liens in favor of each other Collateral Agent for the benefit of each Series of First-Lien Secured Parties upon such Shared Collateral will automatically, unconditionally and simultaneously be released and discharged as and when, but only to the extent, such Liens of the Controlling Collateral Agent on such Shared Collateral are released and discharged; provided that any proceeds of any Shared Collateral realized therefrom shall be applied pursuant to Section 2.01.

Automatic Release of Liens. If, at any time the Controlling Collateral Agent forecloses upon or otherwise exercises remedies against any Shared Collateral resulting is transferred to a third party or otherwise disposed of, in a sale or disposition thereofeach case, in connection with any enforcement by the Applicable Collateral Agent in accordance with the provisions of this Agreement, then (whether or not any Insolvency or Liquidation Proceeding is pending at the time) the Liens in favor of each the other Collateral Agent Agents for the benefit of each Series of First-First Lien Secured Parties upon such Shared Collateral will automatically, unconditionally and simultaneously automatically be released and discharged upon final conclusion of foreclosure proceeding as and when, but only to the extent, such Liens of the Controlling Applicable Collateral Agent on such Shared Collateral are released and discharged; provided that any proceeds of any Shared Collateral realized therefrom shall be applied pursuant to Section 2.012.01 hereof.

Automatic Release of Liens. If, If at any time the Controlling Applicable Collateral Agent forecloses upon or otherwise exercises remedies against any Shared Collateral resulting in a sale or disposition thereof, then (whether or not any Insolvency or Liquidation Proceeding is pending at the time) the Liens in favor of each the other Collateral Agent for the benefit of each the other Series of First-First Lien Secured Parties upon such Shared Collateral will automatically, unconditionally and simultaneously automatically be released and discharged as and when, but only to the extent, such Liens of the Controlling Applicable Collateral Agent for the benefit of the Match Secured Parties on such Shared Collateral are released and discharged; provided that any proceeds of any Shared Collateral realized therefrom shall be applied pursuant to Section 2.01.

Automatic Release of Liens. If, at any time the Controlling Collateral Agent forecloses upon or otherwise exercises remedies against any Shared Collateral resulting in a sale or disposition thereof, then (whether or not any Insolvency or Liquidation Proceeding is pending at the time) the Liens in favor of each other Collateral Agent for the benefit of each Series of First-Lien Secured Parties upon such Shared Collateral will automatically, unconditionally and simultaneously automatically be released and discharged as and when, but only to the extent, such Liens of the Controlling Collateral Agent on such Shared Collateral are released and discharged; provided that any proceeds of any Shared Collateral realized therefrom shall be applied pursuant to Section 2.01.

Automatic Release of Liens. If, at any time the Controlling Collateral Agent forecloses upon or otherwise exercises remedies against any Shared Collateral resulting in a sale sale, transfer or disposition thereof, then (whether or not any Insolvency or Liquidation Proceeding is pending at the time) the Liens in favor of each other Collateral Agent for the benefit of each Series of First-Lien Pari Secured Parties upon such Shared Collateral will automatically, unconditionally and simultaneously automatically be released and discharged as and when, but only to the extent, such Liens of the Controlling Collateral Agent on such Shared Collateral are released and discharged; provided that any proceeds Proceeds of any Shared Collateral realized therefrom shall be allocated and applied pursuant to Section 2.01.

Automatic Release of Liens. If, If at any time the Controlling Applicable Collateral Agent forecloses upon or otherwise exercises remedies against any Shared Collateral resulting in a sale or disposition thereof, then (whether or not any Insolvency or Liquidation Proceeding is pending at the time) the Liens in favor of each the other Collateral Agent for the benefit of each Series of First-Lien Pari Debt Secured Parties upon such Shared Collateral will automatically, unconditionally and simultaneously automatically be released and discharged as and when, but only to the extent, such Liens of the Controlling Applicable Collateral Agent on such Shared Collateral are released and discharged; provided that any proceeds of any Shared Collateral realized therefrom shall be applied pursuant to Section 2.01.

Automatic Release of Liens. If, If at any time the Controlling Applicable Authorized Representative or Applicable Collateral Agent forecloses upon or otherwise exercises remedies against any Shared Collateral resulting in a sale or disposition thereof, then (whether or not any Insolvency or Liquidation Proceeding is pending at the time) the Liens in favor of each the other Collateral Agent Agents for the benefit of each Series of First-Lien Secured Parties upon such Shared Collateral will automatically, unconditionally and simultaneously automatically be released and discharged as and when, but only to the extent, such Liens of the Controlling Applicable Collateral Agent on such Shared Collateral are released and discharged; provided that any proceeds of any Shared Collateral realized therefrom shall be applied pursuant to Section 2.01.

Automatic Release of Liens. If, at any time the Controlling Applicable Collateral Agent forecloses upon or otherwise exercises remedies against any Shared Collateral resulting in a sale or disposition thereof, then (whether or not any Insolvency or Liquidation Proceeding is pending at the time) the Liens in favor of each the other Collateral Agent for the benefit of each Series of First-Lien Secured Parties upon such Shared Collateral will automatically, unconditionally and simultaneously automatically be released and discharged as and when, but only to the extent, such Liens of the Controlling Applicable Collateral Agent on such Shared Collateral are released and discharged; provided that any proceeds of any Shared Collateral realized therefrom shall be applied pursuant to Section 2.01.

Automatic Release of Liens. If, If at any time the Controlling Applicable Authorized Representative or Applicable Collateral Agent forecloses upon or otherwise exercises remedies against any Shared Collateral resulting in a sale or disposition thereof, then (whether or not any Insolvency or Liquidation Proceeding is pending at the time) the Liens in favor of each the other Collateral Agent Agents for the benefit of each Series of First-Lien Secured Parties upon such Shared Collateral will automatically, unconditionally and simultaneously automatically be released and discharged as and when, but only to the extent, such Liens of the Controlling Applicable Collateral Agent on such Shared Collateral are released and discharged; provided that any proceeds of any Shared Collateral realized therefrom shall be applied pursuant to Section 2.01.. 12

Automatic Release of Liens. If, If at any time the Controlling Applicable Collateral Agent forecloses upon or otherwise exercises remedies against any Shared Collateral resulting in a sale or disposition thereof, then (whether or not any Insolvency or Liquidation Proceeding is pending at the time) the Liens in favor of each the other Collateral Agent for the benefit of each Series of First-Lien Pari Term Loan Debt Secured Parties upon such Shared Collateral will automatically, unconditionally and simultaneously automatically be released and discharged as and when, but only to the extent, such Liens of the Controlling Applicable Collateral Agent on such Shared Collateral are released and discharged; provided that any proceeds of any Shared Collateral realized therefrom shall be applied pursuant to Section 2.01.

Automatic Release of Liens. If, at any time the Controlling Collateral Agent Applicable Authorized Representative forecloses upon or otherwise exercises remedies against any Shared Collateral resulting in a sale or disposition thereof, then (whether or not any Insolvency or Liquidation Proceeding is pending at the time) the Liens in favor of each other Collateral Agent Authorized Representative for the benefit of each Series of First-First Lien Secured Parties upon such Shared Collateral will automatically, unconditionally and simultaneously automatically be released and discharged as and when, but only to the extent, such Liens of the Controlling Collateral Agent Applicable Authorized Representative on such Shared Collateral are released and discharged; provided that any proceeds of any Shared Collateral realized therefrom shall be applied pursuant to Section 2.012.01 hereof.

Automatic Release of Liens. If, If at any time the Controlling Applicable Collateral Agent forecloses upon or otherwise exercises remedies against any Shared Collateral resulting in a sale or disposition thereof, then (whether or not any Insolvency or Liquidation Proceeding is pending at the time) the Liens in favor of each the other Collateral Agent Agents for the benefit of each Series of First-Lien Pari Debt Secured Parties upon such Shared Collateral will automatically, unconditionally and simultaneously automatically be released and discharged as and when, but only to the extent, such Liens of the Controlling Applicable Collateral Agent on such Shared Collateral are released and discharged; provided that any proceeds of any Shared Collateral realized therefrom shall be applied pursuant to Section 2.01.