Common use of Release of a Subsidiary Guarantor Clause in Contracts

Release of a Subsidiary Guarantor. Any Subsidiary Guarantor that is designated by the Board of Directors of Holdings as an Unrestricted Subsidiary in accordance with the terms of this Indenture shall, at such time, be deemed automatically and unconditionally released and discharged of its obligations under its Note Guarantee without any further action on the part of the Trustee or any Holder. The Trustee shall deliver an appropriate instrument evidencing such release upon receipt of the Issuer’s request for such release accompanied by an Officers’ Certificate certifying as to the compliance with this Section 10.7. Any Subsidiary Guarantor not so released shall remain liable for the full amount of principal of and interest on the Notes as provided in its Note Guarantee.

Release of a Subsidiary Guarantor. Any In the event all of the Capital Stock of a Subsidiary Guarantor that is designated sold by the Board Company and the sale complies with Section 4.16, or in the event of Directors the designation of Holdings any Subsidiary Guarantor as an Unrestricted Subsidiary in accordance with the terms of this Indenture shallIndenture, at such time, Subsidiary Guarantor's Guarantee will be deemed automatically and unconditionally released and discharged of its obligations under its Note Guarantee without any further action on the part of the Trustee or any Holderreleased. The Trustee shall promptly deliver an appropriate instrument evidencing such release upon receipt of a request by the Issuer’s request for such release Company accompanied by an Officers’ ' Certificate certifying as to the compliance with this Section 10.710.02. Any Subsidiary Guarantor not so released shall remain remains liable for the full amount of principal of and interest on the Notes its Guarantee as provided in its Note Guaranteethis Article Ten.