Common use of Release Collateral Clause in Contracts

Release Collateral. Lenders irrevocably authorize Administrative Agent, at its option and in its discretion, to release any Lien or encumbrance on any property granted to or held by Administrative Agent under any Loan Document or Security Document (i) upon termination of the Maximum Commitment and payment in full of all Obligations (other than contingent indemnification obligations), (ii) that is sold or to be sold as part of or in connection with any sale permitted under the Agreement or under any other Loan Document, or (iii) if approved, authorized or ratified in writing by the Required Lenders.

Release Collateral. Lenders irrevocably authorize Administrative Agent, at its option and in its discretion, to release any Lien or encumbrance on any property granted to or held by Administrative Agent under any Loan Document or Security Document (i) upon termination of the Maximum Commitment Note Amount and payment in full of all Obligations (other than contingent indemnification obligations), (ii) that is sold or to be sold as part of or in connection with any sale permitted under the Agreement or under any other Loan Document, or (iii) if approved, authorized or ratified in writing by the Required Lenders.

Release Collateral. Lenders irrevocably authorize the Administrative Agent, at its option and in its discretion, to release any Lien or encumbrance on any property granted to or held by the Administrative Agent under any Loan Document or Security Document (i) upon termination of the Maximum Commitment Commitments and payment in full of all Obligations (other than contingent indemnification obligations), (ii) that is sold or to be sold as part of or in connection with any sale permitted under the Agreement or under any other Loan Document, or (iii) if approved, authorized or ratified in writing by the Required Lenders.

Release Collateral. Lenders irrevocably authorize the Administrative Agent, at its option and in its discretion, to release any Lien lien or encumbrance on any property granted to or held by the Administrative Agent under any Loan Document or Security Document (i) upon termination of the Maximum Commitment Commitments and payment in full of all Obligations (other than contingent indemnification obligations), (ii) that is sold or to be sold as part of or in connection with any sale permitted under the Agreement or under any other Loan Document, or (iii) if approved, authorized or ratified in writing by the Required Lenders.