Common use of <Covenant Waiver Period Collateral Release Clause in Contracts

<Covenant Waiver Period Collateral Release. ><.>< (a) ><Obligation to Release. So long as no Default or Event of Default has occurred and is continuing or would result therefrom, upon either (i) the Collateral Release Date or (ii) to the extent necessary to permit consummation of any transaction permitted by this Agreement (and in accordance with this Agreement, including Section 2.11), the Administrative Agent shall, subject to the satisfaction of the requirements of Section 5.13(b), promptly release (or instruct the Collateral Agent to release) the Liens granted to the Administrative Agent (or the Collateral Agent) on the applicable Covenant Waiver Period Collateral and the Collateral Documents related thereto (the “Covenant Waiver Period Collateral Release”). Upon the release of any Covenant Waiver Period Collateral pursuant to this Section 5.13(a), the Administrative Agent shall (to the extent applicable) deliver to the Borrower (or instruct the Collateral Agent to deliver), upon the Borrower’s request and at the Borrower’s expense, such documentation as may be reasonably satisfactory to the Administrative Agent and otherwise necessary or advisable to evidence the release of such Covenant Waiver Period Collateral from its obligations under the Loan Documents. The Lenders authorize the Administrative Agent and/or the Collateral Agent to effect such Lien releases. ><

<Covenant Waiver Period Collateral Release. ><.. >< (a) ><Obligation to Release. So long as no Default or Event of Default has occurred and is continuing or would result therefrom, upon either (i) the Collateral Release Date or (ii) to the extent necessary to permit consummation of any transaction permitted by this Agreement (and in accordance with this Agreement, including Section 2.11), the Administrative Agent shall, subject to the satisfaction of the requirements of Section 5.13(b), promptly release (or instruct the Collateral Agent to release) the Liens granted to the Administrative Agent (or the Collateral Agent) on the applicable Covenant Waiver Period Collateral and the Collateral Documents related thereto (the “Covenant Waiver Period Collateral Release”). Upon the release of any Covenant Waiver Period Collateral pursuant to this Section 5.13(a), the Administrative Agent shall (to the extent applicable) deliver to the Borrower (or instruct the Collateral Agent to deliver), upon the Borrower’s request and at the Borrower’s expense, such documentation as may be reasonably satisfactory to the Administrative Agent and otherwise necessary or advisable to evidence the release of such Covenant Waiver Period Collateral from its obligations under the Loan Documents. The Lenders authorize the Administrative Agent and/or the Collateral Agent to effect such Lien releases. ><

<Covenant Waiver Period Collateral Release. ><.>< (a) ><Obligation to Release. So long as no Default or Event of Default has occurred and is continuing or would result therefrom, upon either (i) the Collateral Release Date or (ii) to the extent necessary to permit consummation of any transaction permitted by this Agreement (and in accordance with this Agreement, including Section 2.11), the Administrative Agent shall, subject to the satisfaction of the requirements of Section 5.13(b), promptly release (or instruct the Collateral Agent to release) the Liens granted to the Administrative Agent (or the Collateral Agent) on the applicable Covenant Waiver Period Collateral and the Collateral Documents related thereto (the “Covenant Waiver Period Collateral Release”). Upon the release of any Covenant Waiver Period Collateral pursuant to this Section 5.13(a), the Administrative Agent shall (to the extent applicable) deliver to the Borrower (or instruct the Collateral Agent to deliver), upon the Borrower’s request and at the Borrower’s expense, such documentation as may be reasonably satisfactory to the Administrative Agent and otherwise necessary or advisable to evidence the release of such Covenant Waiver Period Collateral from its obligations under the Loan Documents. The Lenders authorize the Administrative Agent and/or the Collateral Agent to effect such Lien releases. .><

<Covenant Waiver Period Collateral Release. ><.. >< (a) ><< Obligation to Release. So long as no Default or Event of Default has occurred and is continuing or would result therefrom, upon either (i) the Collateral Release Date or (ii) to the extent necessary to permit consummation of any transaction permitted by this Agreement (and in accordance with this Agreement, including Section 2.11), the Administrative Agent shall, subject to the satisfaction of the requirements of Section 5.13(b), promptly release (or instruct the Collateral Agent to release) the Liens granted to the Administrative Agent (or the Collateral Agent) on the applicable Covenant Waiver Period Collateral and the Collateral Documents related thereto (the “Covenant Waiver Period Collateral Release”). Upon the release of any Covenant Waiver Period Collateral pursuant to this Section 5.13(a), the Administrative Agent shall (to the extent applicable) deliver to the Borrower (or instruct the Collateral Agent to deliver), upon the Borrower’s request and at the Borrower’s expense, such documentation as may be reasonably satisfactory to the Administrative Agent and otherwise necessary or advisable to evidence the release of such Covenant Waiver Period Collateral from its obligations under the Loan Documents. The Lenders authorize the Administrative Agent and/or the Collateral Agent to effect such Lien releases. ><