CYAN FACILITY DISCHARGE DATE Sample Clauses

CYAN FACILITY DISCHARGE DATE. 8.1 Release of Security in respect of the Cyan Facility Agreement (A) the date on which the Borrower confirms to the Bank (with supporting evidence satisfactory to the Bank, acting reasonably) that all amounts outstanding under the Cyan Facility Agreement have been fully repaid and the obligations of each Credit Party under each Credit Document (as such terms are defined in the Cyan Facility Agreement) have been discharged in full (excluding Contingent Obligations expressly surviving the repayment of amounts outstanding under the Cyan Facility Agreement and in respect of which no claim is outstanding); (B) the date on which the Bank has been appointed as Collateral Agent pursuant to the terms of the Intercreditor Agreement; (C) the date on which the Original Post-Cyan Security Documents are amended (in form and substance satisfactory to the Bank) so that they are enforceable upon the occurrence of an Event of Default; and (D) (if a Company Asset Transfer has occurred) the date on which the member of the Group which is the transferee in respect of that Company Asset Transfer (an “Additional Post-Cyan Obligor”) has: (1) acceded to this Agreement as an Additional Guarantor; (2) entered into an Additional Post-Cyan Security Document (in form and substance satisfactory to the Bank, acting reasonably) creating Security over its business and assets in favour of the Bank; and (3) each holder of a direct Equity Interest in that Additional Post-Cyan Obligor has entered into an Additional Post-Cyan Security Document (in form and substance satisfactory to the Bank, acting reasonably) creating Security over its Equity Interests in that Additional Post-Cyan Obligor in favour of the Bank, the Bank, in its capacity as Collateral Agent shall, at the cost of the Company: (A) release all Security provided by each member of the Group under the Cyan Security Documents (other than the Post-Cyan Security Documents); and (B) release and discharge each Guarantor (other than the Parent and each Additional Post-Cyan Obligor) from its guarantee obligations under this Agreement.