Common use of Other Authorized Release and Subordination Clause in Contracts

Other Authorized Release and Subordination. The Administrative Agent is irrevocably authorized by the Secured Parties, without any consent or further agreement of any Secured Party to: (i) subordinate or release the Liens granted to the Administrative Agent to secure the Obligations with respect to any Property which is permitted to be subject to a Lien of the type described in clauses (a), (b), (c), (d) and (f) of the definition of Permitted Encumbrances and clauses (ii) and (vii) of Section 6.16, (ii) release the Administrative Agent’s Liens upon the termination in full of the Commitments and the repayment in full of all Obligations (other than contingent indemnification obligations not then due, Hedging Obligations and Obligations in respect of Cash Management Agreements); provided, that if as of the date of the requested release under clause (i): (A) any Borrower is subject to a proceeding of the type described in Section 7.6 or 7.7, or (B) the Administrative Agent is applying the proceeds of Collateral in accordance with Section 2.10(b), then the Administrative Agent shall not release its Liens until the termination in full of the Commitments and the repayment in full of all Obligations (other than contingent indemnification obligations not then due, Hedging Obligations and Obligations in respect of Cash Management Agreements).

Other Authorized Release and Subordination. The Administrative Collateral Agent is irrevocably authorized by the Secured Parties, without any consent or further agreement of any Secured Party to: (i) subordinate or release the Liens granted to the Administrative Collateral Agent to secure the Obligations with respect to any Property which is permitted to be subject to a Lien of the type described in clauses (a), (b), (c), (d) and (f) of the definition of Permitted Encumbrances and clauses (ii) and (vii) of Section 6.16Encumbrances, (ii) release the Administrative Collateral Agent’s Liens upon the termination in full of the Commitments and the repayment in full of all Obligations (other than contingent indemnification indemnity or reimbursement obligations not then due, Hedging Obligations for which no claim has been asserted) and Obligations in respect of Cash Management Agreements)(iii) release the Collateral Agent’s Liens upon any Collateral that becomes an Excluded Asset; provided, that if as of the date of the requested release under clause (i): (A) any Borrower the Company is subject to a proceeding of the type described in Section 7.6 or 7.7, or (B) the Administrative Collateral Agent is applying the proceeds of Collateral in accordance with Section 2.10(b), then the Administrative Collateral Agent shall not release its Liens until the termination in full of the Commitments and the repayment in full of all Obligations (other than contingent indemnification obligations not then due, Hedging Obligations and Obligations in respect of Cash Management Agreements)Obligations.

Other Authorized Release and Subordination. The Administrative Collateral Agent is irrevocably authorized by the Secured Parties, without any consent or further agreement of any Secured Party to: (i) subordinate or release the Liens granted to the Administrative Collateral Agent to secure the Obligations with respect to any Property which is permitted to be subject to a Lien of the type described in clauses (a), (b), (c), (d) and (f) of the definition of Permitted Encumbrances and clauses (ii) and clause (vii) of Section 6.16, (ii) release the Administrative Collateral Agent’s Liens upon the termination in full of the Commitments and the repayment Payment in full Full of all Obligations (other than contingent indemnification indemnity or reimbursement obligations not then due, Hedging Obligations for which no claim has been asserted) and Obligations in respect of Cash Management Agreements)(iii) release the Collateral Agent’s Liens upon any Collateral that becomes an Excluded Asset; provided, that if as of the date of the requested release under clause (i): (A) any Borrower the Company is subject to a proceeding of the type described in Section 7.6 or 7.7, or (B) the Administrative Collateral Agent is applying the proceeds of Collateral in accordance with Section 2.10(b), then the Administrative Collateral Agent shall not release its Liens until the termination in full of the Commitments and the repayment Payment in full Full of all Obligations (other than contingent indemnification obligations not then due, Hedging Obligations and Obligations in respect of Cash Management Agreements)Obligations.

Other Authorized Release and Subordination. The Administrative Collateral Agent is irrevocably authorized by the Secured Parties, without any consent or further agreement of any Secured Party to: (i) subordinate or release the Liens granted to the Administrative Collateral Agent to secure the Obligations with respect to any Property which is permitted to be subject to a Lien of the type described in clauses (a), (b), (c), (d) and (f) of the definition of Permitted Encumbrances and clauses (ii) and clause (vii) of Section 6.16, (ii) release the Administrative Collateral Agent’s Liens upon the termination in full of the Commitments and the repayment in full of all Obligations (other than contingent indemnification indemnity or reimbursement obligations not then due, Hedging Obligations for which no claim has been asserted) and Obligations in respect of Cash Management Agreements)(iii) release the Collateral Agent’s Liens upon any Collateral that becomes an Excluded Asset; provided, that if as of the date of the requested release under clause (i): (A) any Borrower the Company is subject to a proceeding of the type described in Section 7.6 or 7.7, or (B) the Administrative Collateral Agent is applying the proceeds of Collateral in accordance with Section 2.10(b), then the Administrative Collateral Agent shall not release its Liens until the termination in full of the Commitments and the repayment in full of all Obligations (other than contingent indemnification obligations not then due, Hedging Obligations and Obligations in respect of Cash Management Agreements).