Common use of Effect of Designation of Unrestricted Subsidiaries Clause in Contracts

Effect of Designation of Unrestricted Subsidiaries. With respect to each Unrestricted Subsidiary (including, without limitation, any MLP Subsidiary or Exclusive Entity), beginning on the effective date of such designation and continuing for so long as such Subsidiary is an Unrestricted Subsidiary: (a) such Unrestricted Subsidiary will not be an Obligor (or a Borrower or Guarantor) for purposes of this Agreement or any other Credit Document, and will not be obligated under any Credit Document, including without limitation any representation, warranty, covenant or Event of Default herein or in any other Credit Document; (b) the results of operations, Fixed Charges and Indebtedness of such Unrestricted Subsidiary will not be taken into account for purposes of determining any financial ratio or covenant contained in this Agreement; (c) Property of such Unrestricted Subsidiary will not be included in the Aggregate Borrowing Base; (d) each Subsidiary of such Unrestricted Subsidiary will be also deemed to be an Unrestricted Subsidiary; and (e) such Subsidiary shall be deemed released from its obligations as a Borrower or a Guarantor (as applicable) and shall no longer be a Borrower or a Guarantor, in each case, without any consent or approval of Agent, any Lender or any other Secured Party.

Effect of Designation of Unrestricted Subsidiaries. With respect to each Unrestricted Subsidiary (including, without limitation, any MLP Subsidiary or Exclusive Entity), beginning on the effective date of such designation and continuing for so long as such Subsidiary is an Unrestricted Subsidiary: (a) such Unrestricted Subsidiary will not be an Obligor (or a Borrower or Guarantor) for purposes of this Agreement or any other Credit Document, and will not be obligated under any Credit Document, including without limitation any representation, warranty, covenant or Event of Default herein or in any other Credit Document; (b) the results of operations, Fixed Charges and Indebtedness of such Unrestricted Subsidiary will not be taken into account for purposes of determining any financial ratio or covenant contained in this Agreement; (c) Property of such Unrestricted Subsidiary will not be included in the Aggregate Borrowing Base; (d) each Subsidiary of such Unrestricted Subsidiary will be also deemed to be an Unrestricted Subsidiary; and (e) such Subsidiary shall be deemed released from its obligations as a Borrower or a Guarantor (as applicable) and shall no longer be a Borrower or a Guarantor, in each case, without any consent or approval of Agent, any Lender or any other Secured Party.

Effect of Designation of Unrestricted Subsidiaries. With respect to each Unrestricted Subsidiary (including, without limitation, any MLP Subsidiary or Exclusive Entity), beginning on the effective date of such designation and continuing for so long as such Subsidiary is an Unrestricted Subsidiary: (ai) such Unrestricted Subsidiary will not be an Obligor (or a Borrower or Guarantor) Company Entity for purposes of this Agreement or any other Credit Transaction Document, and will not be obligated under any Credit Transaction Document, including without limitation any representation, warranty, covenant or Event of Default herein or in any other Credit Transaction Document; (bii) the results of operations, Fixed Charges and Indebtedness of such Unrestricted Subsidiary will not be taken into account for purposes of determining any financial ratio or covenant contained in this Agreement; (ciii) Property of such Unrestricted Subsidiary will not be included in the Aggregate Borrowing Base; (div) each Subsidiary of such Unrestricted Subsidiary will be also deemed to be an Unrestricted Subsidiary; andand 4161-8074-0173.23 ​ ​ ​ (ev) such Subsidiary shall be deemed released from its obligations as a Borrower or a Guarantor (as applicable) Company Entity and shall no longer be a Borrower or a Guarantor, in each caseCompany Entity, without any consent or approval of Agent, any Lender or any other Secured PartyXxxx.