Common use of Further Authorization Clause in Contracts

Further Authorization. Without limiting the provisions of Section 13.8, Lenders irrevocably authorize Administrative Agent, at its option and in its discretion: (a) to release any Lien on any property granted to or held by Administrative Agent under any Loan Document (i) upon Commitment Termination Date and payment in full of all Obligations (other than contingent indemnification obligations), (ii) that is sold or otherwise disposed of or to be sold or otherwise disposed of as part of or in connection with any sale or other disposition permitted hereunder or under any other Loan Document, or (iii) subject to Section 15.1, if approved, authorized or ratified in writing by Required Lenders; and (b) to subordinate any Lien on any property granted to or held by Administrative Agent under any Loan Document to the holder of any Lien on such property that is permitted by Section 11.2.2.

Further Authorization. Without limiting the provisions of Section 13.812.8, Lenders and Issuing Banks irrevocably authorize Administrative Agent, at its option and in its discretion: (a) to release any Lien on any property granted to or held by Administrative Agent under any Loan Document (i) upon the Commitment Termination Date and payment in full Full Payment of all Obligations (other than contingent indemnification obligations)Obligations, (ii) that is sold or otherwise disposed of or to be sold or otherwise disposed of as part of or in connection with any sale or other disposition permitted hereunder or under any other Loan Document, or (iii) subject to Section 15.114.1, if approved, authorized or ratified in writing by Required Lenders; and (b) to subordinate any Lien on any property granted to or held by Administrative Agent under any Loan Document to the holder of any Lien on such property that is permitted by Section 11.2.210.2.2.