Common use of Certain Releases Clause in Contracts

Certain Releases. In the event that any asset sale permitted under subsection 9.3(d) consists in whole or in part of the sale of all of the capital stock of (or other ownership interests in) a Subsidiary that is owned by the Borrower or any other Subsidiary of the Borrower, upon the request of the Borrower, the Administrative Agent shall release the Subsidiary whose stock (or other ownership interests) has (have) been sold from any duties and obligations to the Lenders pursuant to this Agreement and the other Loan Documents to which such Subsidiary may be a party; provided that (a) at the times of such request and release any Indebtedness evidenced by a Pledged Note made by such Subsidiary has been fully satisfied, and (b) no Default has occurred and is continuing or would result from such releases.

Certain Releases. In the event that any asset sale permitted under subsection Section 9.3(d) consists in whole or in part of the sale of all of the capital stock of (or other ownership interests in) a Subsidiary that is owned by the Borrower or any other Subsidiary of the Borrower, upon the request of the Borrower, the Administrative Agent shall release the Subsidiary whose stock (or other ownership interests) has (have) been sold from any duties and obligations to the Lenders pursuant to this Agreement and the other Loan Documents to which such Subsidiary may be a party; provided that (a) at the times of such request and release any Indebtedness evidenced by a Pledged Note made by such Subsidiary has been fully satisfied, and (b) no Default has occurred and is continuing or would result from such releases.

Certain Releases. In the event that any asset sale permitted under subsection Section 9.3(d) consists in whole or in part of the sale of all of the capital stock of (or other ownership interests in) a Subsidiary that is owned by the Borrower or any other Subsidiary of the Borrower, upon the request of the Borrower, the Administrative Agent shall release the Subsidiary whose stock (or other ownership interests) has (have) been sold from any duties and obligations to the Lenders pursuant to this Agreement and the other Loan Documents to which such Subsidiary may be a party; provided that (a) at the times of such request and release any Indebtedness evidenced by a Pledged Note made by such Subsidiary has been fully satisfied, and (b) no Default or Event of Default has occurred and is continuing or would result from such releases.