Common use of Lien Releases Clause in Contracts

Lien Releases. The Administrative Agent shall release any Lien granted to or held by the Administrative Agent on any collateral for the Obligations (i) sold, transferred or otherwise disposed of in connection with any transaction not prohibited by the Loan Documents, (ii) constituting Property leased to Borrower or its Subsidiaries under a lease which has expired or been terminated in a transaction not prohibited by the Loan Documents or which will concurrently expire and which has not been, and is not intended by Borrower or the relevant Subsidiary to be, renewed or extended, (iii) consisting of an instrument, if the Indebtedness evidenced by such instrument has been finally repaid in full, (iv) if approved or consented to by those of the Banks required by Section 11.2, or (v) as otherwise expressly required by the Loan Documents. If the collateral so released consists of capital stock of a Subsidiary, then the Administrative Agent shall concurrently also release such Subsidiary from its obligations under the Guaranty. Upon the request of the Administrative Agent, each Bank shall promptly provide written confirmation of the authority of the Administrative Agent to release such Liens upon any one or more items of collateral under this Section.

Lien Releases. The Administrative Agent shall release any ------------- Lien granted to or held by the Administrative Agent on any collateral for the Obligations (i) sold, transferred or otherwise disposed of in connection with any transaction not prohibited by the Loan Documents, (ii) constituting Property leased to Borrower or its Subsidiaries under a lease which has expired or been terminated in a transaction not prohibited by the Loan Documents or which will concurrently expire and which has not been, and is not intended by Borrower or the relevant Subsidiary to be, renewed or extended, (iii) consisting of an instrument, if the Indebtedness evidenced by such instrument has been finally repaid in full, (iv) if approved or consented to by those of the Banks required by Section 11.2, or (v) as otherwise expressly required by the Loan Documents. If the collateral so released consists of capital stock of a Subsidiary, then the Administrative Agent shall concurrently also release such Subsidiary from its obligations under the Guaranty. Upon the request of the Administrative Agent, each Bank shall promptly provide written confirmation of the authority of the Administrative Agent to release such Liens upon any one or more items of collateral under this Section.

Lien Releases. The Administrative Agent shall release ------------- any Lien granted to or held by the Administrative Agent on any collateral for the Obligations Collateral (i) sold, transferred or otherwise disposed of in connection with any transaction not prohibited by the Loan Documents, (ii) constituting Property leased to Borrower or its Subsidiaries under a lease which has expired or been terminated in a transaction not prohibited by the Loan Documents or which will concurrently expire and which has not been, and is not intended by Borrower or the relevant Subsidiary to be, renewed or extended, (iii) consisting of an instrument, if the Indebtedness evidenced by such instrument has been finally repaid in full, (iv) if approved or consented to by those of the Banks required by Section 11.2, or (v) as otherwise expressly required ---- by the Loan Documents. If the collateral Collateral so released consists of capital stock of a Subsidiary, then the Administrative Agent shall concurrently also release such Subsidiary from its obligations under the Guaranty. Upon the request of the Administrative Agent, each Bank shall promptly provide written confirmation of the authority of the Administrative Agent to release such Liens upon any one or more items of collateral under this Section.its

Lien Releases. The Administrative Agent shall release any Lien ------------- granted to or held by the Administrative Agent on any collateral for the Obligations Collateral (i) sold, transferred or otherwise disposed of in connection with any transaction not prohibited by the Loan Documents, (ii) constituting Property leased to Borrower or its Subsidiaries under a lease which has expired or been terminated in a transaction not prohibited by the Loan Documents or which will concurrently expire and which has not been, and is not intended by Borrower or the relevant Subsidiary to be, renewed or extended, (iii) consisting of an instrument, if the Indebtedness evidenced by such instrument has been finally repaid in full, (iv) if approved or consented to by those of the Banks required by Section 11.2, or (v) as otherwise expressly required by the Loan Documents. If the collateral Collateral so released consists of capital stock of a Subsidiary, then the Administrative Agent shall concurrently also release such Subsidiary from its obligations under the its Subsidiary Guaranty. Upon the request of the Administrative Agent, each Bank shall promptly provide written confirmation of the authority of the Administrative Agent to release such Liens upon any one or more items of collateral Collateral under this Section.