Common use of Guaranty Matters Clause in Contracts

Guaranty Matters. The Lenders and the L/C Issuer irrevocably authorize the Administrative Agent, at its option and in its discretion, to release any Guarantor from its obligations under the Guaranty if such Person ceases to be a Subsidiary or an owner of a Borrowing Base Property or an indirect owner of a Borrowing Base Property Owner as a result of a transaction permitted hereunder. Upon request by the Administrative Agent at any time, the Required Lenders will promptly confirm in writing the Administrative Agent’s authority to release any Guarantor from its obligations under the Guaranty pursuant to this Section 13.1.12.

Guaranty Matters. The Each of the Lenders and the L/C Issuer irrevocably authorize the Administrative Agent, at its option and in its discretion, Agent to release any Guarantor from its obligations under the Guaranty if (i) the Borrower requests such Person ceases release, (ii) such Guarantor is not required to be a Subsidiary Guarantee the Obligations pursuant to Section 6.12, and (iii) no Default exists or an owner of a Borrowing Base Property or an indirect owner of a Borrowing Base Property Owner as a would result of a transaction permitted hereunderfrom such release. Upon request by the Administrative Agent at any time, the Required Lenders will promptly confirm in writing the Administrative Agent’s authority to release any Guarantor from its obligations under the Guaranty Guaranty, pursuant to this Section 13.1.129.10.

Guaranty Matters. The Lenders and the L/C Issuer irrevocably authorize the Administrative Agent, at its option and in its discretion, to release any Subsidiary Guarantor from its obligations under the Subsidiary Guaranty if such Person (a) ceases to be a Subsidiary or an owner of a Borrowing Base Property or an indirect owner of a Borrowing Base Property Owner as a result of a transaction permitted hereunder or (b) later qualifies as an Excluded Subsidiary (through transactions not otherwise prohibited hereunder). Upon request by the Administrative Agent at any time, the Required Lenders will promptly confirm in writing the Administrative Agent’s authority to release any Subsidiary Guarantor from its obligations under the Subsidiary Guaranty pursuant to this Section 13.1.129.10.

Guaranty Matters. The Lenders and the L/C Issuer Issuing Lender irrevocably authorize the Administrative Agent, at its option and in its discretion, Agent to release any Subsidiary Guarantor from its obligations under the Guaranty if (i) such Person ceases to be a Subsidiary or an owner own any assets (other than assets of a Borrowing Base Property or an indirect owner of a Borrowing Base Property Owner nominal value) as a result of a transaction permitted hereunder, or (ii) the Borrower otherwise requests such release and provides evidence satisfactory to the Administrative Agent that after giving effect to such release the Borrower will be in compliance with all covenants under this Agreement, including, without limitation, the obligations under Section 7.11. Upon request by the Administrative Agent at any time, the Required Lenders will promptly confirm in writing the Administrative Agent’s authority to release any Subsidiary Guarantor from its obligations under the Guaranty pursuant to this Section 13.1.1210.12.

Guaranty Matters. The Lenders Without limiting the provisions of Section 9.09, each Lender and the each L/C Issuer irrevocably authorize the Administrative Agent, at its option and in its discretion, discretion to release any Guarantor from its obligations under the Guaranty Agreement if such Person ceases required or permitted pursuant to be a Subsidiary or an owner of a Borrowing Base Property or an indirect owner of a Borrowing Base Property Owner as a result of a transaction permitted hereunderthe terms hereof. Upon request by the Administrative Agent at any time, the Required Lenders Xxxxxxx will promptly confirm in writing the Administrative Agent’s authority to release any Guarantor from its obligations under the Guaranty Agreement pursuant to this Section 13.1.129.10.

Guaranty Matters. The Without limiting the provisions of Section 10.09, each of the Lenders (including in its capacities as a potential Cash Management Bank and a potential Hedge Bank) and the L/C Issuer irrevocably authorize the Administrative Agent, at its option and in its discretion, to release any Guarantor from its obligations under the Guaranty if such Person ceases to be a Subsidiary or an owner of a Borrowing Base Property or an indirect owner of a Borrowing Base Property Owner as a result of a transaction permitted hereunderunder the Loan Documents. Upon request by the Administrative Agent at any time, the Required Lenders will promptly confirm in writing the Administrative Agent’s authority to release any Guarantor from its obligations under the Guaranty Guaranty, pursuant to this Section 13.1.1210.10.

Guaranty Matters. The Each of the Lenders and the L/C Issuer irrevocably authorize the Administrative Agent, at its option and in its discretion, Agent to release any Guarantor from its obligations under the Guaranty if (i) the Borrower requests such Person ceases release, (ii) such Guarantor is not required to be a Subsidiary Guarantee the Obligations pursuant to Section 6.12, and (iii) no Default exists or an owner of a Borrowing Base Property or an indirect owner of a Borrowing Base Property Owner as a would result of a transaction permitted hereunderfrom such release. Upon request by the Administrative Agent at any time, the Required Lenders will promptly confirm in writing the Administrative Agent’s authority to release any Guarantor from its obligations under the Guaranty Guaranty, pursuant to this Section 13.1.129.10.

Guaranty Matters. The Lenders and the L/C Issuer irrevocably authorize the Administrative Agent, at its option and in its discretion, to release any Subsidiary Guarantor from its obligations under the Subsidiary Guaranty if such Person ceases to be a Subsidiary or an owner Material Domestic Subsidiary of a Borrowing Base Property or an indirect owner of a Borrowing Base Property Owner Holdings as a result of a transaction permitted hereunder. Upon request by the Administrative Agent at any time, the Required Lenders will promptly confirm in writing the Administrative Agent’s authority to release any Subsidiary Guarantor from its obligations under the Subsidiary Guaranty pursuant to this Section 13.1.129.10.

Guaranty Matters. The Lenders Without limiting the provisions of Section 9.09, each Lender (including in its capacity as a potential Cash Management Bank and the potential Hedge Bank) and each L/C Issuer irrevocably authorize the Administrative Agent, at its option and in its discretion, discretion to release any Guarantor from its obligations under the Guaranty if such Person ceases required or permitted pursuant to be a Subsidiary or an owner of a Borrowing Base Property or an indirect owner of a Borrowing Base Property Owner as a result of a transaction permitted hereunderSection 11.19 hereof. Upon request by the Administrative Agent at any time, the Required Lenders will promptly confirm in writing the Administrative Agent’s authority to release any Guarantor from its obligations under the Guaranty pursuant to this Section 13.1.129.10.

Guaranty Matters. The Each of the Lenders and the L/C Issuer irrevocably authorize the Administrative Agent, at its option and in its discretion, Agent to release any Guarantor from its obligations under the Guaranty if (i) the Borrower requests such Person ceases release, (ii) such Guarantor is not required to be a Subsidiary Guarantee the Obligations pursuant to Section 6.12, and (iii) no Default exists or an owner of a Borrowing Base Property or an indirect owner of a Borrowing Base Property Owner as a would result of a transaction permitted hereunderfrom such release. Upon request by the Administrative Agent at any time, the Required Lenders Xxxxxxx will promptly confirm in writing the Administrative Agent’s authority to release any Guarantor from its obligations under the Guaranty Guaranty, pursuant to this Section 13.1.129.10.

Guaranty Matters. The Each of the Lenders and the L/C Issuer irrevocably authorize the Administrative Agent, at its option and in its discretion, Agent to release any Guarantor from its obligations under the Guaranty if (i) the Borrower requests such Person ceases release, (ii) such Guarantor is not required to be a Subsidiary Guarantee the Obligations pursuant to Section 6.12 and (iii) no Default exists or an owner of a Borrowing Base Property or an indirect owner of a Borrowing Base Property Owner as a would result of a transaction permitted hereunderfrom such release. Upon request by the Administrative Agent at any time, the Required Lenders will promptly confirm in writing the Administrative Agent’s authority to release any Guarantor from its obligations under the Guaranty Guaranty, pursuant to this Section 13.1.129.10.

Guaranty Matters. The Each of the Lenders and the L/C Issuer Issuers irrevocably authorize the Administrative Agent, at its option and in its discretion, to take the actions with respect to the guaranty by the Guarantor as are set forth in Section 8 of this Agreement. Upon approval by the Majority Lenders, the Administrative Agent may release any the Guarantor from its obligations under the Guaranty if such Person ceases to be a Subsidiary or an owner of a Borrowing Base Property or an indirect owner of a Borrowing Base Property Owner Section 8. In each case as a result of a transaction permitted hereunder. Upon request by specified in this Section 13.11, the Administrative Agent will, at any timethe Loan Parties’ expense, execute and deliver to the Required Lenders will promptly confirm in writing Lead Borrower such documents as may reasonably be requested to evidence the Administrative Agent’s authority to release any of the Guarantor from its obligations under Section 8, in each case in accordance with the Guaranty pursuant to terms of the Loan Documents and this Section 13.1.12.13.11. 13.12

Guaranty Matters. The Without limiting the provisions of Section 10.09, each of the Lenders and the L/C Issuer irrevocably authorize the Administrative Agent, at its option and in its discretion, to release any Guarantor from its obligations under the Guaranty if (i) such Person ceases to be a Subsidiary or an owner of a Borrowing Base Property or an indirect owner of a Borrowing Base Property Owner as a result of a transaction permitted hereunderunder the Loan Documents or (ii) such Person becomes an Immaterial Subsidiary or an Excluded Subsidiary. Upon request by the Administrative Agent at any time, the Required Lenders will promptly confirm in writing the Administrative Agent’s authority to release any Guarantor from its obligations under the Guaranty pursuant to this Section 13.1.1210.10.

Guaranty Matters. The Each of the Lenders and the L/C Issuer irrevocably authorize the Administrative Agent, at its option and in its discretion, Agent to release (a) any Guarantor from its obligations under the Guaranty if (i) the Borrower requests such Person ceases release, (ii) such Guarantor is not required to be a Subsidiary Guarantee the Obligations pursuant to Section 6.12, and (iii) no Default exists or an owner would result from such release and (b) BGC from its obligations as the Borrower under the Loan Documents upon consummation of a Borrowing Base Property or an indirect owner of a Borrowing Base Property Owner as a result of a transaction permitted hereunderthe Assumption in accordance with Section 11.06(g). Upon request by the Administrative Agent at any time, the Required Lenders will promptly confirm in writing the Administrative Agent’s authority to release any Guarantor from its obligations under the Guaranty Guaranty, pursuant to this Section 13.1.129.10.

Guaranty Matters. The Without limiting the provisions of Section 9.09, the Lenders and the L/C Issuer irrevocably authorize the Administrative Agent, at its option and in its discretion, to release any Subsidiary Guarantor or Foreign Subsidiary Guarantor from its obligations under the applicable Guaranty if such Person ceases to be a Subsidiary or an owner of a Borrowing Base Property or an indirect owner of a Borrowing Base Property Owner as a result of a transaction permitted hereunderunder the Loan Documents. Upon request by the Administrative Agent at any time, the Required Lenders will promptly confirm in writing the Administrative Agent’s authority to release any Subsidiary Guarantor or Foreign Subsidiary Guarantor from its obligations under the Guaranty pursuant to this Section 13.1.12.9.10. 135 3775032.13

Guaranty Matters. The ​ Without limiting the provisions of Section 9.09, the Lenders and the L/C Issuer Issuers irrevocably authorize the Administrative Agent, at its option and in its discretion, to release any Subsidiary Guarantor from its obligations under the Subsidiary Guaranty if such Person ceases to be a Subsidiary or an owner of a Borrowing Base Property or an indirect owner of a Borrowing Base Property Owner as a result of a transaction permitted hereunderunder the Loan Documents. Upon request by the Administrative Agent at any time, the Required Lenders will promptly confirm in writing the Administrative Agent’s authority to release any Subsidiary Guarantor from its obligations under the Subsidiary Guaranty pursuant to this Section 13.1.129.13.

Guaranty Matters. The Lenders and the L/C Issuer irrevocably authorize the Administrative Agent, at its option and in its discretion, to release any Subsidiary Guarantor from its obligations under the Subsidiary Guaranty if such Person ceases to be a Subsidiary of the Borrowers or an owner a Subsidiary of a Borrowing Base Property or an indirect owner of a Borrowing Base Property Owner the Parent as a result of a transaction permitted hereunder. Upon request by the Administrative Agent at any time, the Required Lenders will shall promptly confirm in writing the Administrative Agent’s authority to release any Guarantor from its obligations under the Subsidiary Guaranty pursuant to this Section 13.1.127.10.

Guaranty Matters. The Lenders and the L/C Issuer irrevocably authorize the Administrative Agent, at its option and in its discretion, to release any Guarantor from its obligations under the Guaranty (a) if such Person ceases to be a Subsidiary or an owner of a Borrowing Base Property or an indirect owner of a Borrowing Base Property Owner as a result of a transaction permitted hereunderhereunder or (b) so long as no Event of Default has occurred and is continuing, to the extent that such Person is an Immaterial Subsidiary (in which case such release shall be made at the Borrower’s request by the Administrative acting alone). Upon request by the Administrative Agent at any time, the Required Lenders will promptly confirm in writing the Administrative Agent’s authority to release any Guarantor from its obligations under the Guaranty Guaranty, pursuant to this Section 13.1.1210.10.

Guaranty Matters. The Lenders and the L/C Issuer irrevocably authorize the Administrative AgentAgent to, at its option and in its discretionthe Administrative Agent shall upon the request of the Borrower, to release any Guarantor (other than the Parent) from its obligations under the Guaranty if such Person ceases to be a Subsidiary or an owner of a Borrowing Base Property or an indirect owner of a Borrowing Base Property Owner Required Guarantor as a result of a transaction permitted hereunderhereunder or no longer meets the criteria set forth in the definition of “Required Guarantor”. Upon request by the Administrative Agent at any time, the Required Lenders will promptly confirm in writing the Administrative Agent’s authority to release any Guarantor from its obligations under the Guaranty pursuant to this Section 13.1.129.10.

Guaranty Matters. The Lenders and the L/C Issuer irrevocably authorize the Administrative Agent, at its option and in its discretion, to release any Subsidiary Guarantor from its obligations under the Subsidiary Guaranty if such Person either ceases to be a Subsidiary or an owner of a Borrowing Base Property or an indirect owner of a Borrowing Base Property Owner as a result of a transaction permitted hereunderhereunder or is eligible to be released from its Subsidiary Guaranty in accordance with a request by any Borrower pursuant to the last sentence of Section 6.09. Upon request by the Administrative Agent at any time, the Required Lenders will promptly confirm in writing the Administrative Agent’s 's authority to release any Subsidiary Guarantor from its obligations under the Subsidiary Guaranty pursuant to this Section 13.1.129.10.

Guaranty Matters. The Lenders and the L/C Issuer irrevocably authorize the Administrative Agent, at its option and in its discretion, to release any Guarantor from its obligations under the Guaranty if such Person ceases to be a Subsidiary or an owner of a Borrowing Base Property or an indirect owner of a Borrowing Base Property Owner Guarantor as a result of a transaction permitted hereunder, and the Administrative Agent, the Lenders and the L/C Issuer shall release any Guarantor subject to a Disposition permitted by Section 7.04 or 7.05. Upon request by the Administrative Agent at any time, the Required Lenders will promptly confirm in writing the Administrative Agent’s 's authority to release any Guarantor from its obligations under the Guaranty pursuant to this Section 13.1.129.10.

Guaranty Matters. The Without limiting the provisions of Section 9.09, each of the Lenders and the L/C Issuer irrevocably authorize the Administrative Agent, at its option and in its discretion, to release any Guarantor from its obligations under the Guaranty if such Person (i) ceases to be a Subsidiary or an owner of (ii) ceases to be a Borrowing Base Property or an indirect owner of a Borrowing Base Property Owner Required Subsidiary Guarantor, in each case under clauses (i) and (ii), as a result of a transaction permitted hereunderunder the Loan Documents. Upon request by the Administrative Agent at any time, the Required Lenders will promptly confirm in writing the Administrative Agent’s authority to release any Guarantor from its obligations under the Guaranty pursuant to this Section 13.1.129.10.

Guaranty Matters. The Lenders and Lenders, the L/C Issuer and the Swing Line Lender irrevocably authorize the Administrative Agent, at its option and in its discretion, to release any Guarantor from its obligations under the Guaranty if (a) such Person ceases to be a Subsidiary or an owner of a Borrowing Base Property or an indirect owner of a Borrowing Base Property Owner as a result of a transaction permitted hereunderhereunder or (b) in connection with a transaction permitted pursuant to Section 7.04. Upon request by the Administrative Agent at any time, the Required Lenders will promptly confirm in writing the Administrative Agent’s authority to release any Guarantor from its obligations under the Guaranty pursuant to this Section 13.1.129.10.

Guaranty Matters. The Lenders and the L/C Issuer irrevocably authorize the Administrative AgentAgent to, at its option and in its discretionthe Administrative Agent shall upon the request of the Borrower, to release any Guarantor (other than the Parent or CEC Entertainment Holdings, LLC) from its obligations under the Guaranty if such Person ceases to be a Subsidiary or an owner of a Borrowing Base Property or an indirect owner of a Borrowing Base Property Owner Required Guarantor as a result of a transaction permitted hereunder. Upon request by the Administrative Agent at any time, the Required Lenders will promptly confirm in writing the Administrative Agent’s 's authority to release any Guarantor from its obligations under the Guaranty pursuant to this Section 13.1.129.10.

Guaranty Matters. The Without limiting the provisions of Section 10.09, each of the Lenders (including in its capacities as a potential Cash Management Bank and the a potential Hedge Bank) and L/C Issuer hereby irrevocably authorize the Administrative Agent, at its option and in its discretion, to release any Guarantor from its obligations under the Guaranty if such Person ceases to be a Subsidiary or an owner of a Borrowing Base Property or an indirect owner of a Borrowing Base Property Owner Material Subsidiary as a result of a transaction or event permitted hereunder. Upon request by the Administrative Agent at any time, the Required Lenders each Lender and L/C Issuer will promptly confirm in writing the Administrative Agent’s authority to release any Guarantor from its obligations under the Guaranty pursuant to this Section 13.1.1210.10.

Guaranty Matters. The Lenders and the L/C Issuer Issuers irrevocably authorize the Administrative Agent, at its option and in its discretion, to release any Guarantor from its obligations under the Guaranty if such Person ceases to be (a) a Subsidiary or an owner of a Borrowing Base Property or an indirect owner of a Borrowing Base Property Owner as a result of a transaction permitted hereunderhereunder or (b) a guarantor of Indebtedness under the 6% Indenture (including any refinancings thereof). Upon request by the Administrative Agent at any time, the Required Lenders will promptly confirm in writing the Administrative Agent’s authority to release any Guarantor from its obligations under the Guaranty pursuant to this Section 13.1.128.09.

Guaranty Matters. The Each of the Lenders and the L/C Issuer irrevocably authorize the Administrative Agent, at its option and in its discretion, Agent to release any Guarantor from its obligations under the Guaranty (other than BGC) if (i) the Borrower requests such Person ceases release, (ii) such Guarantor is not required to be a Subsidiary Guarantee the Obligations pursuant to Section 6.12 and, (iii) no Default exists or an owner of a Borrowing Base Property or an indirect owner of a Borrowing Base Property Owner as a would result of a transaction permitted hereunderfrom such release and (iv) if the Guarantor being released is SpinCo, both the Term Loan Facility and the Acquisition Term Loan have been paid in full. Upon request by the Administrative Agent at any time, the Required Lenders will promptly confirm in writing the Administrative Agent’s authority to release any Guarantor from its obligations under the Guaranty Guaranty, pursuant to this Section 13.1.129.10.

Guaranty Matters. The Each of the Lenders and the L/C Issuer irrevocably authorize the Administrative Agent, at its option and in its discretion, Agent to release any Guarantor from its obligations under the Guaranty if (i) the Borrower requests such Person ceases release, (ii) such Guarantor is not required to be a Subsidiary Guarantee the Obligations pursuant to Section 6.12, and (iii) no Default exists or an owner of a Borrowing Base Property or an indirect owner of a Borrowing Base Property Owner as a would result of a transaction permitted hereunderfrom such release. Upon request by the Administrative Agent at any time, the Required Lenders Xxxxxxx will promptly confirm in writing the Administrative Agent’s authority to release any Guarantor from its obligations under the Guaranty Guaranty, pursuant to this Section 13.1.129.10.

Guaranty Matters. The Without limiting the provisions of Section 10.09, the Lenders and the L/C Issuer irrevocably authorize the Administrative Agent, at its option and in its discretion, to release any Subsidiary Guarantor from its obligations under the Guaranty if such Person ceases to Guarantee any Material Indebtedness or ceases to be a Subsidiary or an owner of a Borrowing Base Property or an indirect owner of a Borrowing Base Property Owner as a result of a transaction permitted hereunder. Upon request by the Administrative Agent at any time, the Required Lenders will promptly confirm in writing the Administrative Agent’s authority to release any Subsidiary Guarantor from its obligations under the Guaranty Guaranty, pursuant to this Section 13.1.1210.10.

Guaranty Matters. The Without limiting the provisions of Section 10.09, each of the Lenders (including in its capacities as a potential Cash Management Bank and a potential Hedge Bank) and the L/C Issuer irrevocably authorize the Administrative Agent, at its option and in its discretion, to release any Guarantor from its obligations under the Guaranty if such Person ceases to be a Subsidiary or an owner of a Borrowing Base Property or an indirect owner of a Borrowing Base Property Owner as a result of a transaction permitted hereunderunder the Loan Documents. Upon request by the Administrative Agent at any time, the Required Lenders will promptly confirm in writing the Administrative Agent’s 's authority to to release any Guarantor from its obligations under the Guaranty pursuant to this Section 13.1.1210.10.

Guaranty Matters. The Lenders and the L/C Issuer irrevocably authorize the Administrative Agent, at its option and in its discretion, to release any Subsidiary Guarantor from its obligations under the Subsidiary Guaranty if such Person ceases to be a Subsidiary of the Borrowers or an owner a Subsidiary of a Borrowing Base Property or an indirect owner of a Borrowing Base Property Owner the Parent as a result of a transaction permitted hereunder. Upon request by the Administrative Agent at any time, the Required Lenders will shall promptly confirm in writing the Administrative Agent’s authority to release any Guarantor from its obligations under the Subsidiary Guaranty pursuant to this Section 13.1.12.7.10. 77

Guaranty Matters. The Each of the Lenders and the L/C Issuer irrevocably authorize the Administrative Agent, at its option and in its discretion, Agent to release any Guarantor from its obligations under the Guaranty (other than BGC) if (i) the Borrower requests such Person ceases release, (ii) such Guarantor is not required to be a Subsidiary Guarantee the Obligations pursuant to Section 6.12 and (iii) no Default exists or an owner of a Borrowing Base Property or an indirect owner of a Borrowing Base Property Owner as a would result of a transaction permitted hereunderfrom such release. Upon request by the Administrative Agent at any time, the Required Lenders will promptly confirm in writing the Administrative Agent’s authority to release any Guarantor from its obligations under the Guaranty Guaranty, pursuant to this Section 13.1.129.10.

Guaranty Matters. The Without limiting the provisions of Section 9.09, the Lenders and the L/C Issuer irrevocably authorize the Administrative Agent, at its option and in its discretion, Agent to release any Guarantor from its obligations under the Guaranty if such Person ceases to be a Subsidiary the extent permitted or an owner contemplated by the terms of a Borrowing Base Property or an indirect owner of a Borrowing Base Property Owner as a result of a transaction permitted hereunderthe Loan Documents. Upon request by the Administrative Agent at any time, the Required Lenders will promptly confirm direct in writing the Administrative Agent’s authority Agent to release or subordinate its interest in particular types or items of property, or to release any Guarantor from its obligations under the Guaranty pursuant to this Section 13.1.12.9.10. ARTICLE X.

Guaranty Matters. The Lenders and the L/C Issuer Issuers irrevocably authorize the Administrative Agent, at its option and in its discretion, to release any Guarantor from its EXHIBIT 10.1 obligations under the Unconditional Guaranty if such Person ceases to be a Subsidiary or an owner of a Borrowing Base Property or an indirect owner of a Borrowing Base Property Owner as a result of a transaction permitted hereunderhereunder or becomes an Excluded Subsidiary or a Joint Venture. Upon request by the Administrative Agent at any time, the Required Lenders will promptly confirm in writing the Administrative Agent’s 's authority to release any Guarantor from its obligations under the Unconditional Guaranty pursuant to this Section 13.1.1210.10.

Guaranty Matters. The Lenders Each Lender (including in its capacities as a potential Cash Management Bank and a potential Hedge Bank) and the L/C Issuer irrevocably authorize the Administrative Agent, at its option and in its reasonable discretion, to release any Subsidiary Guarantor from its obligations under the Subsidiary Guaranty if such Person ceases to be a Subsidiary or an owner of a Borrowing Base Property or an indirect owner of a Borrowing Base Property Owner as a result of a transaction permitted hereunder. 106 Upon request by the Administrative Agent at any time, the Required Lenders will promptly confirm in writing the Administrative Agent’s authority to release any Subsidiary Guarantor from its obligations under the Subsidiary Guaranty pursuant to this Section 13.1.129.10.

Guaranty Matters. The Lenders and the L/C Issuer irrevocably authorize the Administrative Agent, at its option and in its discretion, to release any Guarantor from its obligations under the Guaranty (i) if such Person ceases to be a Subsidiary or an owner of a Borrowing Base Property or an indirect owner of a Borrowing Base Property Owner as a result of a transaction permitted hereunderhereunder or (ii) subject to Section 10.01, if approved, authorized or ratified in writing by the Required Lenders. Upon request by the Administrative Agent at any time, the Required Lenders will promptly confirm in writing the Administrative Agent’s authority to release any Guarantor from its obligations under the Guaranty pursuant to this Section 13.1.129.10.

Guaranty Matters. The Each of the Lenders and the L/C Issuer irrevocably authorize the Administrative Agent, at its option and in its discretion, Agent to release any Guarantor from its obligations under the Guaranty if (a) the Borrower requests such Person ceases release, (b) such Guarantor is not required to be a Subsidiary Guarantee the Obligations pursuant to Section 6.12, and (c) no Default exists or an owner of a Borrowing Base Property or an indirect owner of a Borrowing Base Property Owner as a would result of a transaction permitted hereunderfrom such release. Upon request by the Administrative Agent at any time, the Required Lenders Xxxxxxx will promptly confirm in writing the Administrative Agent’s authority to release any Guarantor from its obligations under the Guaranty Guaranty, pursuant to this Section 13.1.129.10.