Common use of Obligation to Release Clause in Contracts

Obligation to Release. On or after any Collateral Release Date, and so long as no Default or Event of Default is then continuing and no subsequent Collateral Trigger Date has occurred, the Administrative Agent shall, subject to the satisfaction of the requirements of Section 8.15.(b), promptly release all of (i) the Liens granted to the Administrative Agent pursuant to the requirements of Section 8.14. and the Collateral Documents and (ii) the Subsidiary Guarantors (other than any Unsecured Indebtedness Subsidiary (except an Unsecured Indebtedness Subsidiary that solely has obligations under the Loan Documents and any Unsecured Indebtedness in respect of which such Subsidiary Guarantor shall be released as a borrower or guarantor or other obligor substantially concurrently with the release hereunder)) from their obligations under the Guaranty (the “Guarantor and Collateral Release”). Upon the release of any Person and/or any Collateral pursuant to this Section 8.15., the Administrative Agent shall (to the extent applicable) deliver to the Company, upon the Company’s request and at the Company’s expense, such documentation as may be reasonably satisfactory to the Administrative Agent and otherwise necessary or advisable to evidence the release of such Person and/or such Collateral from its obligations under the Loan Documents.

Obligation to Release. On or after If at any Collateral Release Datetime the Investment Grade Ratings Criteria is satisfied (a release under this Section 8.15(a), and the “Investment Grade Release”) and, so long as no Default or Event of Default is then continuing and no subsequent Collateral Trigger Date has occurredcontinuing, the Administrative Agent shall, subject to the satisfaction of the requirements of Section 8.15.(b8.15(b), promptly release all of (iA) the Liens granted to the Administrative Agent pursuant to the requirements of Section 8.14. and the Collateral Documents intentionally omitted, and (iiB) the Subsidiary Guarantors (other than any Unsecured Indebtedness Subsidiary (except an Unsecured Indebtedness Subsidiary that solely has obligations under the Loan Documents and any Unsecured Indebtedness in respect of which such Subsidiary Guarantor shall be released as a borrower or guarantor or other obligor substantially concurrently with the release hereunder)) from their obligations under the Guaranty (the “Guarantor and Collateral Release”)Guaranty. Upon the release of any Person and/or any Collateral pursuant to this Section 8.15., the Administrative Agent shall (to the extent applicable) deliver to the CompanyBorrower, upon the CompanyBorrower’s request and at the CompanyBorrower’s expense, such documentation as may be reasonably satisfactory to the Administrative Agent and otherwise necessary or advisable to evidence the release of such Person and/or such Collateral from its obligations under the Loan Documents.

Obligation to Release. (i) (a) Obligation to Release. On or after any Collateral Release Date, and so long as no Default or Event of Default is then continuing and no subsequent Collateral Trigger Date has occurred, the Administrative Agent shall, subject to the satisfaction of the requirements of Section 8.15.(b8.15.(b)(i), promptly release all of (iiA) the Liens granted to the Administrative Agent pursuant to the requirements of Section 8.14. 8.14.(c)(i) and the Collateral Documents related to such Liens and (iiiiB) the Subsidiary Guarantors (other than any Unsecured Indebtedness Subsidiary (except an Unsecured Indebtedness Subsidiary that solely has obligations under the Loan Documents and any Unsecured Indebtedness in respect of which such Subsidiary Guarantor shall be released as a borrower or guarantor or other obligor substantially concurrently with the release hereunder)) from their obligations under the Guaranty (the “Guarantor and Collateral Release”). Upon the release of any Person and/or any Collateral pursuant to this Section 8.15.8.15.(a)(i), the Administrative Agent shall (to the extent applicable) deliver to the Company, upon the Company’s request and at the Company’s expense, such documentation as may be reasonably satisfactory to the Administrative Agent and otherwise necessary or advisable to evidence the release of such Person and/or such Collateral from its obligations under the Loan Documents.

Obligation to Release. (i) On or after any Collateral Release Date, and so long as no Default or Event of Default is then continuing and no subsequent Collateral Trigger Date has occurred, the Administrative Agent shall, subject to the satisfaction of the requirements of Section 8.15.(b8.15.(b)(i), promptly release all of (iiA) the Liens granted to the Administrative Agent pursuant to the requirements of Section 8.14. 8.14.(c)(i) and the Collateral Documents related to such Liens and (iiiiB) the Subsidiary Guarantors (other than any Unsecured Indebtedness Subsidiary (except an Unsecured Indebtedness Subsidiary that solely has obligations under the Loan Documents and any Unsecured Indebtedness in respect of which such Subsidiary Guarantor shall be released as a borrower or guarantor or other obligor substantially concurrently with the release hereunder)) from their obligations under the Guaranty (the “Guarantor and Collateral Release”). Upon the release of any Person and/or any Collateral pursuant to this Section 8.15.8.15.,8.15.(a)(i), the Administrative Agent shall (to the extent applicable) deliver to the Company, upon the Company’s request and at the Company’s expense, such documentation as may be reasonably satisfactory to the Administrative Agent and otherwise necessary or advisable to evidence the release of such Person and/or such Collateral from its obligations under the Loan Documents.