Common use of Collateral Suspension Clause in Contracts

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. (a) Notwithstanding the foregoing provisions of this definition or anything in this Agreement or any other Credit Financing 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 Collateral Documents to secure the Obligations (except such Liens created pursuant to Section 3.8 of this Agreement2.14) 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 Responsible Officer of the Borrower that a the Collateral Suspension Event has occurred (and the Collateral Agent may rely conclusively on any such AES Seventh Amended and Restated Credit Agreement 102 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 BorrowerBorrower and without recourse to or warranty by the Collateral Agent.