Release from Covenants. Upon the principal of all the Debentures and interest thereon and other moneys payable hereunder have been paid or satisfied, the Holder shall, at the request and at the expense of the Company, execute and deliver to the Company such deeds or other instruments as shall be requisite to release the Company from its covenants contained herein.
Release from Covenants. Upon proof being given that:
(a) the principal of all of the Debt Securities, Premium (if any) thereon and interest (including interest on amounts in default) thereon and other money payable under this Indenture has been paid or satisfied; or
(b) all the outstanding Debt Securities have matured or have been duly called for redemption (or the Indenture Trustee has been given irrevocable instructions by Baytex to publish, within 90 days, notice of redemption of all outstanding Debt Securities), and such payment or redemption has been duly provided for by payment to the Indenture Trustee or otherwise, and upon payment of all costs, charges and expenses properly incurred by the Indenture Trustee in relation to this Indenture and all interest thereon and the remuneration of the Indenture Trustee (or upon provision satisfactory to the Indenture Trustee being made therefor), at the written request and at the expense of Baytex, the Indenture Trustee will forthwith execute and deliver to Baytex and the Guarantors, as the case may be, such deeds or other instruments necessary to evidence the satisfaction and discharge of this Indenture and to release Baytex and the Guarantors, as the case may be, from their respective covenants in this Indenture, except those relating to the indemnification of the Indenture Trustee.
Release from Covenants. Upon proof being given to the reasonable satisfaction of the Trustee of compliance with the following conditions:
Release from Covenants. Upon Written Request and proof being given to the reasonable satisfaction of the Trustee that the principal of all the Notes and interest thereon, if any, and other moneys payable hereunder have been paid or satisfied, or that all the outstanding Notes having matured, such payments have been duly and effectually provided for by payment to the Trustee or otherwise and upon payment of all costs, charges and expenses properly incurred by the Trustee in relation to these presents and all documents relating hereto, and all interest thereon, and the remuneration of the Trustee, or upon provision satisfactory to the Trustee being made therefor, the Trustee shall, at the request and at the expense of VGZ, execute and deliver to VGZ and the Guarantor such deeds or other instruments as shall be requisite to release VGZ and the Guarantor from the terms of the Indenture and Notes, except those terms of the Indenture relating to the indemnification of the Trustee.
Release from Covenants. Upon Written Request and proof being given to the reasonable satisfaction of the Trustee that the principal of all the Debentures and interest thereon and other money payable hereunder have been paid or satisfied or that all the Debentures then outstanding having matured and, such payment having been duly and effectually provided for by payment to the Trustee or otherwise, and upon payment of all costs, charges and expenses properly incurred by the Trustee in relation to these presents and all interest thereon and the remuneration of the Trustee, or upon provision satisfactory to the Trustee being made therefor, the Trustee will, at the request and at the expense of the Corporation, execute and deliver to the Corporation such deeds or other instruments as are requisite to release the Corporation from the terms of the First Supplemental Indenture and the terms of the Principal Indenture relating to the Debentures, except those relating to the indemnification of the Trustee and issue and delivery of Common Shares in connection with the exercise of rights of conversion pursuant to Article 4.
Release from Covenants. Upon proof being given to the reasonable satisfaction of the Trustee that (i) the principal of all the Bonds and interest thereon and other moneys payable hereunder have been paid or satisfied, or (ii) all the Bonds have matured or have been called for redemption, or upon the Trustee having been given irrevocable instructions by the Corporation to give notice of redemption of all the Bonds, and (iii) such payment or redemption, or both, has been duly and effectually provided for by payment to the Trustee or otherwise, and (iv) upon payment of all costs, charges and expenses properly incurred by the Trustee in relation and the remuneration of the Trustee has been paid, or upon provision satisfactory to the Trustee being made for such payment, the Trustee shall, at the request and at the expense of the Corporation, execute and deliver to the Corporation such deeds or other instruments as shall be required to (v) evidence the satisfaction and discharge of the Security in accordance with Section 4.11, and (vi) release the Corporation from its covenants except pursuant to Section 2.8 and those relating to the indemnification of the Trustee.
Release from Covenants. The Trustee shall, upon Written Request and at the expense of the Corporation, release the Corporation from its covenants herein contained (other than section 4.02 and the provisions relating to the indemnification of the Trustee) and execute and deliver such instruments as it shall be advised by Counsel are requisite for the purpose if the Corporation shall have first satisfied the Trustee that it has paid, or made due provision as hereinafter provided for the payment of, all of the principal moneys, redemption premium, if any, and interest due or to become due on all of the Notes outstanding hereunder at the times and in the manner therein and herein provided, and also for the payment of all other moneys payable hereunder by the Corporation. For the purpose of this section 6.04, the Corporation shall be deemed to have made such due provision for payment if: it shall have irrevocably (i) deposited in the name of the Trustee, with one of the six Canadian chartered banks having the greatest dollar amount of assets as shown on the most recent audited annual financial statements of such banks, a cash sum, or (ii) deposited with the Trustee securities issued or guaranteed by the Government of Canada, the principal of and interest on which securities, when due, will provide moneys which, without any reinvestment thereof, will be sufficient to pay to the Registered Holders of the Notes, when due, all amounts owing in respect of the principal of (including, without limitation, sinking fund payments) together with the redemption premium, if any, and interest on the Notes accrued or to accrue to such times as herein provided and any other amounts owing by the Corporation hereunder; the Corporation shall have paid to the Trustee all fees and expenses due or to become due to it hereunder; and in the event any Notes are to be redeemed prior to the Maturity thereof, notice of such redemption shall have been duly given or provisions satisfactory to the Trustee shall have been made therefor.
Release from Covenants. Upon proof being given to the reasonable satisfaction of the Trustee that all the Debt Securities and the premium, if any, thereon and interest (including interest on amounts overdue) thereon and other moneys payable hereunder have been paid and upon payment of all costs, charges and expenses properly incurred by, or owing to, the Trustee in relation to these presents, or upon provision satisfactory to the Trustee being made therefor, the Trustee shall, at the request and at the expense of the Corporation, execute and deliver to the Corporation such deeds or other instruments as shall be requisite to evidence the satisfaction and discharge of the security (if any) created pursuant hereto, and to release the Corporation from its covenants herein contained except those relating to the indemnification of the Trustee.
Release from Covenants. Upon Written Request and proof being given to the reasonable satisfaction of the Trustee that the principal of all the Debentures and interest thereon and other moneys payable hereunder have been paid or satisfied or that, all the outstanding Debentures having matured and, such payment having been duly and effectually provided for by payment to the Trustee or otherwise, and upon payment of all costs, charges and expenses properly incurred by the Trustee in relation to these presents and all interest thereon and the remuneration of the Trustee, or upon provision satisfactory to the Trustee being made therefor, the Trustee shall, at the request and at the expense of the Company, execute and deliver to the Company such deeds or other instruments as shall be requisite to release the Company from the terms of the Indenture and the Debentures except those relating to the indemnification of the Trustee.
Release from Covenants. Upon Written Request and proof being given to the reasonable satisfaction of the Trustee that the principal of all the Notes and interest thereon, if any, and other moneys payable hereunder have been paid or satisfied, or that all the outstanding Notes having matured, such payments have been duly and effectually provided for by payment to the Trustee or otherwise and upon payment of all costs, charges and expenses properly incurred by the Trustee in relation to these presents and all documents relating hereto, and all interest thereon, and the remuneration of the Trustee, or upon provision satisfactory to the Trustee being made therefor, the Trustee shall, at the request and at the expense of GBG, execute and deliver to GBG such deeds or other instruments as shall be requisite to release GBG from the terms of the Indenture, the Notes and the GBG GSA, except those terms of the Indenture relating to the indemnification of the Trustee.
