Guarantor Release. Each Guarantor shall remain obligated under and bound by this Guaranty until termination of the Commitments and payment and performance in full of the Guaranteed Obligations; provided that this Guaranty shall be terminated as to any Guarantor, provided there exists no Default (except as otherwise specified in Section 6.10(b) of the Term Loan Agreement), upon the occurrence of a Release Date as to such released Guarantor, without affecting or impairing the obligations of any other Guarantor hereunder.
Guarantor Release. If one or more Guarantors has entered into a Guarantee Agreement with respect to this Agreement (a) due to the receipt by the Borrower of a Below Investment Grade Rating and the Borrower subsequently obtains a Debt Rating of at least Baa3 (or the equivalent) by Xxxxx’x and a Debt Rating of at least BBB- (or the equivalent) by S&P and Fitch (in each case, with at least stable outlook), each Guarantor shall cease to be a Guarantor under this Agreement and any other Loan Papers (notwithstanding anything to the contrary herein) and the Borrower’s obligations under Section 5.13 shall cease or (b) for any other reason and the Borrower subsequently obtains a Debt Rating of at least Baa3 (or the equivalent) by Xxxxx’x and a Debt Rating of at least BBB- (or the equivalent) by S&P and Fitch (in each case, with at least stable outlook), each Guarantor may, in the sole discretion of the Borrower, cease to be a Guarantor under this Agreement and any other Loan Papers (notwithstanding anything to the contrary herein) and the Borrower’s obligations under Section 5.13 shall cease, provided that, in each case, at such time the Borrower is in compliance with Section 6.15(b).
Guarantor Release. Section 9.10 of the Credit Agreement is hereby incorporated by reference herein as if set forth in full force herein, mutatis mutandis. Each Guarantor shall remain obligated under and bound by this Guaranty until the Termination Date; provided, that, this Guaranty shall be terminated as to any Guarantor at the request of the Company, pursuant to Section 9.10 of the Credit Agreement; provided further, that, any such termination shall not affect or impair the obligations of any other Guarantor hereunder.
Guarantor Release. To the extent any Facility Guaranty is outstanding, the Guarantors shall be released from all obligations under the Credit Agreement and the Facility Guarantees at such time as all Guarantors cease to guarantee Indebtedness for borrowed money, other than a discharge through payment thereon, under all Material Credit Facilities of the Borrower (the “Guarantor Release”); provided that no Event of Default shall have occurred and be continuing at the time of or after giving effect to such Guarantor Release; provided further that the foregoing shall not require the prior release of any guarantee under any Material Credit Facility which, by its terms, will be released upon the release of such Guarantors’ guarantee of the Revolving Credit Facility (each, an “Auto-Releasing Credit Facility”).
Guarantor Release. In the event that the Borrower obtains a Debt Rating of at least Baa3 (or the equivalent) by Xxxxx’x and a Debt Rating of at least BBB- (or the equivalent) by S&P (in each case, with at least stable outlook), each Guarantor shall cease to be a Guarantor under this Agreement and any other Loan Papers (notwithstanding anything to the contrary herein) and the Borrower’s obligations under Section 5.13 shall cease, provided that at such time the aggregate principal amount (without duplication) of (i) all Debt of the Borrower or any of its Subsidiaries secured by Liens permitted by clause (b), (c), (j), (k), (r) (to the extent such Liens are incurred pursuant to clause (r) by a Loan Party in favor of a party that is not a Loan Party), (s), (t), (w), (x), (y) or (aa) of the definition of “Permitted Liens” plus (ii) all Funded Debt of Subsidiaries of the Borrower, whether or not secured (but without duplication), does not exceed 15% of Consolidated Tangible Assets determined as of the end of the most recent fiscal quarter for which Financial Statements of the Borrower and its Subsidiaries are available.Borrower is in compliance with Section 6.15(b).
Guarantor Release. So long as no Default or Event of Default exists or would arise as a result of a release under this Section, in the event that any Subsidiary that was a Material Subsidiary and had executed a Guaranty ceases to be a Material Subsidiary, such Subsidiary shall be deemed to be released from its Guaranty until such time as such Subsidiary again becomes a Material Subsidiary.
Guarantor Release. In connection with a Permitted Assumption permitted pursuant to and in accordance with Section 5.2.10 of the Loan Agreement, Guarantor shall be released as a Guarantor and from its obligations under this Guaranty subject to the satisfaction of all of the terms and conditions set forth in Section 5.2.10 of the Loan Agreement.
Guarantor Release. As Guarantor, I understand that for future semesters, I may revoke my guarantee of payment agreed to in this Student Account Payment Agreement, by providing written notice to the Director of Student Accounts no later than twenty-one (21) days before the first day of a new semester. I understand that notice given after that point will go into effect for subsequent semesters.
Guarantor Release. In accordance with Section 14.05 of the 2020 Notes Indenture, each Guarantor of the 2020 Notes is hereby released and relieved of any obligations under its Note Guarantee.
Guarantor Release. Borrower and Parent Guarantor hereby represent and warrant that (a) a Bond Issuance Event (as defined in the Credit Agreement prior to giving effect to this Amendment) occurred on or before the date hereof, and (b) none of the Subsidiaries of Borrower set forth on Schedule 3 attached hereto (the “Released Guarantors”) contemplated to be released from its respective obligations under the Guaranty pursuant to Section 9.10(b) of the Credit Agreement have created, incurred, assumed or suffered to exist or are otherwise liable with respect to (whether as a borrower, co-borrower, guarantor or otherwise) any Indebtedness (including without limitation under any Swap Contract), other than the Indebtedness under the Loan Documents. Agent and Lenders acknowledge that the conditions set forth in Section 9.10(b) of the Credit Agreement have been satisfied and Agent, for itself and on behalf of the Lenders, does hereby consent to the release of the Released Guarantors, from and after the date hereof, from any and all liabilities or obligations under the Guaranty and any other Loan Document to which the Released Guarantors are a party.
