Collateral Suspension. (a) Notwithstanding anything in this Agreement or any other Credit Document to the contrary, upon the occurrence and during the continuance of a Collateral Suspension Event, at the Borrower’s option, any Liens granted pursuant to the Security Documents to secure the Obligations (except such Liens created pursuant to Section 3.8 of this Agreement) which remain in effect at such time shall be promptly released by the Collateral Agent upon receipt by the Collateral Agent of a certificate of an Authorized Officer of the Borrower that a Collateral Suspension Event has occurred (and the Collateral Agent may rely conclusively on any such certificate, without further inquiry), and the Collateral Agent agrees to execute and deliver any documents or instruments reasonably requested by the Borrower and in form and substance reasonably satisfactory to the Collateral Agent to evidence the release of all applicable Collateral, all at the sole expense of the Borrower.
Collateral Suspension. Section 9.17 of the Senior Secured Credit Agreement is hereby incorporated herein in its entirety, mutatis mutandis.
Collateral Suspension. (a) Notwithstanding anything to the contrary contained in this Agreement or any Loan Document, if a Collateral Suspension Date occurs then, upon delivery to the Administrative Agent of the officer’s certificate described in the definition of “
Collateral Suspension. (a) The obligations of the Issuer and the Guarantors to maintain and grant Liens on Collateral securing the Note Obligations under this Indenture or the Security Documents (the “Collateral Obligations”) may, by written notice of such election given by the Issuer to the Collateral Agent and the Holders of Notes (a “Collateral Suspension Notice”), be suspended if the aggregate principal amount of Indebtedness under Credit Facilities secured by Liens on any assets or properties of the Issuer or any Restricted Subsidiary does not exceed the lesser of (a) $375.0 million and (b) 15.0% of the Issuer’s Consolidated Tangible Assets as determined based on the Issuer’s most recent available quarterly financial statements, provided that no Default or Event of Default has occurred and is continuing at the time of delivery of the Collateral Suspension Notice (the “Collateral Suspension Requirement”). Upon delivery of a valid Collateral Suspension Notice to the Trustee (as Collateral Agent), together with an Officers’ Certificate and Opinion of Counsel stating that the Collateral Suspension Requirement has been satisfied, the Issuer and the Guarantors shall be entitled to the release of all Liens on the Collateral securing the Note Obligations in accordance with Section 12.03. The period during which the Collateral Obligations are suspended in accordance with the foregoing is referred to as a “Collateral Suspension”.
