Discharge of Guaranty Upon Sale of Guarantor. If all of the Equity Interests of any Subsidiary Guarantor or any of its successors in interest hereunder shall be sold or otherwise disposed of (including by merger or consolidation) in accordance with the terms and conditions hereof to any party (other than a Loan Party) or such Subsidiary has been designated an Unrestricted Subsidiary in accordance with the definition thereof, then the Guaranty of such Subsidiary Guarantor or such successor in interest, as the case may be, hereunder shall automatically be discharged and released without any further action by any Beneficiary or any other Person effective as of the time of such disposition.
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Samples: Credit and Guaranty Agreement (Cheniere Energy Partners, L.P.), Credit and Guaranty Agreement (Cheniere Energy, Inc.)
Discharge of Guaranty Upon Sale of Guarantor. If all of the Equity Interests stock or assets of any Subsidiary Guarantor or any of its successors in interest hereunder under this Guaranty shall be sold or otherwise disposed of (including by merger or consolidation) in accordance an Asset Sale permitted by, and in compliance with the terms provisions of subsections 7.7 and conditions hereof 2.4B(iii)(a) of the Credit Agreement or otherwise consented to any party (other than a Loan Party) or such Subsidiary has been designated an Unrestricted Subsidiary in accordance with by Requisite Lenders, the definition thereof, then the Guaranty guaranty of such Subsidiary Guarantor or such successor in interest, as the case may be, hereunder shall automatically be discharged and released without any further action by any Beneficiary or any other Person effective as of the time of such dispositionAsset Sale.
Appears in 2 contracts
Samples: Guaranty (Chippac LTD), Guaranty (Chippac Inc)
Discharge of Guaranty Upon Sale of Guarantor. If In case (a) all of the Equity Interests of any Subsidiary Guarantor or any of its successors in interest hereunder shall be sold or otherwise disposed of (including by merger or consolidation) in accordance with the terms and conditions hereof to of this Agreement or (b) any party (other than a Loan Party) Guarantor is designated or such Subsidiary has been designated otherwise becomes an Unrestricted Subsidiary in accordance with the definition thereofterms and conditions of this Agreement, then the Guaranty of such Subsidiary Guarantor or such successor in interest, as the case may be, hereunder shall automatically be discharged and released without any further action by any Beneficiary Guaranteed Creditor or any other Person effective as of the time of such dispositionsale, other disposition or designation as Unrestricted Subsidiary, as applicable.
Appears in 2 contracts
Samples: Abl Credit Agreement (CVR Partners, Lp), Abl Credit Agreement (CVR Partners, Lp)
Discharge of Guaranty Upon Sale of Guarantor. If (a) all of the Equity Interests Capital Stock of any Subsidiary Guarantor or any of its successors in interest hereunder shall be sold or otherwise disposed of (including by merger or consolidation) in accordance with the terms and conditions hereof to any party or (other than b) if a Loan Party) or such Subsidiary has been Guarantor is designated as an Unrestricted Subsidiary in accordance with the definition thereofSection 6.11, then in the case of each of clauses (a) and (b), the Guaranty of such Subsidiary Guarantor or such successor in interest, as the case may be, hereunder shall automatically be discharged and released without any further action by any Beneficiary Secured Party or any other Person effective as of the time of such dispositionAsset Sale or designation as an Unrestricted Subsidiary.
Appears in 2 contracts
Samples: Credit and Guaranty Agreement (Nord Anglia Education, Inc.), Credit and Guaranty Agreement (Nord Anglia Education, Inc.)
Discharge of Guaranty Upon Sale of Guarantor. If all of the Equity Interests of any Subsidiary Guarantor or any of its successors in interest hereunder shall be sold or otherwise disposed of (including by merger or consolidation) in accordance with the terms and conditions hereof to any party (other than a Loan Party) or such Subsidiary has been designated an Unrestricted Subsidiary in accordance with the definition thereofof this Agreement, then the Guaranty of such Guarantor (and, in the case of any other Guarantor that is a direct or indirect Subsidiary of the Guarantor being so sold or disposed of, the Guaranty of such other Guarantor) or such successor in interest, as the case may be, hereunder shall automatically be discharged and released without any further action by any Beneficiary or any other Person effective as of the time of such dispositionasset sale.
Appears in 2 contracts
Samples: Governance Agreement (Och-Ziff Capital Management Group LLC), Senior Subordinated Term Loan and Guaranty Agreement (Och-Ziff Capital Management Group LLC)
Discharge of Guaranty Upon Sale of Guarantor. If (A) all of the Equity Interests of any Subsidiary Guarantor or any of its successors in interest hereunder shall be sold or otherwise disposed of (including by merger or consolidation) in accordance with the terms and conditions hereof to any party or (other than B) if a Loan Party) or such Subsidiary has been Guarantor is designated as an Unrestricted Subsidiary in accordance with the definition thereofSection 5.13, then in the case of each of clauses (A) and (B), the Guaranty of such Subsidiary Guarantor or such successor in interest, as the case may be, hereunder shall automatically be discharged and released without any further action by any Beneficiary or any other Person effective as of the time of such dispositionAsset Sale.
Appears in 1 contract
Samples: Bridge Credit and Guaranty Agreement (Leonardo DRS, Inc.)
Discharge of Guaranty Upon Sale of Guarantor. If (a) all of the Equity Interests ownership interests of any Subsidiary Guarantor or any of its successors in interest hereunder under this Guaranty shall be sold or otherwise disposed of (including by merger or consolidation) as permitted under the Note Documents (other than a sale to the Issuer or any other Company Party), or (b) any Guarantor shall otherwise be released from this Guaranty in accordance with the terms and conditions hereof to any party (other than a Loan Party) or such Subsidiary has been designated an Unrestricted Subsidiary in accordance with the definition thereofNote Documents, then the Guaranty of such Subsidiary Guarantor or such successor in interest, as the case may be, hereunder shall automatically be discharged and released without any further action by any Beneficiary the Secured Party or any other Person effective as of the time of such dispositionrelease.
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Discharge of Guaranty Upon Sale of Guarantor. If (i) all of the Equity Interests stock of any Subsidiary Guarantor or any of its successors in interest hereunder under this Guaranty shall be sold or otherwise disposed of (including by merger or consolidation) in accordance with the terms and conditions hereof an Asset Sale consented to by Requisite Lenders, or (ii) any party (other than a Loan Party) or such Subsidiary has been designated an Unrestricted Subsidiary Guarantor shall otherwise be released from this Guaranty in accordance with any Loan Document or with the definition thereofconsent of the Requisite Lenders, then the Guaranty of such Subsidiary Guarantor or such successor in interest, as the case may be, hereunder shall automatically be discharged and released without any further action by any Beneficiary Secured Party or any other Person effective as of the time of such dispositionAsset Sale.
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Discharge of Guaranty Upon Sale of Guarantor. If (i) all of the Equity Interests stock of any Subsidiary Guarantor or any of its successors in interest hereunder under this Guaranty shall be sold or otherwise disposed of (including by merger or consolidation) in accordance with the terms and conditions hereof Credit Agreement or in an Asset Sale consented to by the Requisite Lenders, or (ii) any party (other than a Loan Party) or such Subsidiary has been designated an Unrestricted Subsidiary Guarantor shall otherwise be released from this Guaranty in accordance with the definition thereofLoan Documents or with the consent of the Requisite Lenders, then the Guaranty of such Subsidiary Guarantor or such successor in interest, as the case may be, hereunder shall automatically be discharged and released without any further action by any Beneficiary Secured Party or any other Person effective as of the time of such Asset Sale, disposition, release or consent.
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Discharge of Guaranty Upon Sale of Guarantor. If all of the Equity Interests assets (including, without limitation, any capital stock or securities of, or equity interests in) of any Subsidiary Guarantor Guarantor, or any of its successors in interest hereunder interest, shall be sold or otherwise disposed of (including by merger or consolidation) either (i) in accordance with Section 7(c) of the terms Note and conditions hereof Warrant Purchase Agreement or (ii) otherwise consented to any party (other than a Loan Party) or such Subsidiary has been designated an Unrestricted Subsidiary in accordance with by the definition thereofGuaranteed Parties, then the Guaranty of such Subsidiary Guarantor or such successor in interest, as the case may be, hereunder shall automatically be discharged and released without any further action by any Beneficiary the Guaranteed Parties or any other Person effective as of the time of such dispositionsale.
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Discharge of Guaranty Upon Sale of Guarantor. If (A) all of the Equity Interests of any Subsidiary Guarantor or any of its successors in interest hereunder shall be sold or otherwise disposed of (including by merger or consolidation) in accordance with the terms and conditions hereof to any party or (other than B) a Loan Party) or such Subsidiary has been Guarantor is designated as an Unrestricted Subsidiary in accordance with the definition thereofSection 5.13, then in the case of clauses (A) and (B), the Guaranty of such Subsidiary Guarantor or such successor in interest, as the case may be, hereunder shall automatically be discharged and released without any further action by any Beneficiary or any other Person effective as of the time of such sale or other disposition.
Appears in 1 contract
Samples: Credit and Guaranty Agreement (TerraForm Power, Inc.)
Discharge of Guaranty Upon Sale of Guarantor. If (i) all of the Equity Interests stock of any Subsidiary Guarantor or any of its successors in interest hereunder under this Guaranty shall be sold or otherwise disposed of (including by merger or consolidation) in accordance with an Asset Sale consented to by the terms and conditions hereof to Requisite Lenders, or (ii) any party (other than a Loan Party) or such Subsidiary has been designated an Unrestricted Subsidiary Guarantor shall otherwise be released from this Guaranty in accordance with the definition thereofLoan Documents or with the consent of the Requisite Lenders, then the Guaranty of such Subsidiary Guarantor or such successor in interest, as the case may be, hereunder shall automatically be discharged and released without any further action by any Beneficiary Secured Party or any other Person effective as of the time of such dispositionAsset Sale.
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Discharge of Guaranty Upon Sale of Guarantor. If all of the Equity Interests of any Subsidiary Guarantor or any of its successors in interest hereunder shall be sold or otherwise disposed of (including by merger or consolidation) in accordance with the terms and conditions hereof to any party (other than a Loan Party) Party or such Subsidiary has been designated an Unrestricted Subsidiary in accordance with the definition thereof, then the Guaranty of such Subsidiary Guarantor or such successor in interest, as the case may be, hereunder shall automatically be discharged and released without any further action by any Beneficiary or any other Person effective as of the time of such dispositionAsset Sale.
Appears in 1 contract
Samples: Senior Revolving Credit and Guaranty Agreement (Sabine Pass Liquefaction, LLC)