Release of Certain Guarantors. (a) Provided no Default or Event of Default shall have occurred and be continuing (or would exist immediately after giving effect to the transactions contemplated by this §5.6(a)), in the event that (1) all Pool Properties owned by such Subsidiary Guarantor have been removed from the calculation of Pool Availability, and (2) such Subsidiary Guarantor will not, upon giving effect to such requested release, be a guarantor of or otherwise liable with respect to any other Unsecured Debt of the Borrower or any of its Subsidiaries, then such Subsidiary Guarantor shall be released by Agent from liability under this Agreement and the other Loan Documents to which it is a party.
Appears in 3 contracts
Samples: Credit Agreement (Carter Validus Mission Critical REIT II, Inc.), Credit Agreement (Carter Validus Mission Critical REIT II, Inc.), Term Loan Agreement (Carter Validus Mission Critical REIT II, Inc.)
Release of Certain Guarantors. (a) Provided no Default or Event of Default shall have occurred and be continuing (or would exist immediately after giving effect to the transactions contemplated by this §5.6(a)), in the event that (1) all Pool Properties owned by such Subsidiary Guarantor have been removed from the calculation of Pool AvailabilityAvailability and, if prior to the Release of Security Date, the lien and (2) security interest in the Equity Interests in such Subsidiary Guarantor will not, upon giving effect to such requested release, be a guarantor have been released as Collateral for the Obligations and Hedge Obligations in accordance with the terms of or otherwise liable with respect to any other Unsecured Debt of the Borrower or any of its Subsidiariesthis Agreement, then such Subsidiary Guarantor shall be released by Agent from liability under this Agreement and the other Loan Documents to which it is a party.
Appears in 2 contracts
Samples: Credit Agreement (Carter Validus Mission Critical REIT II, Inc.), Credit Agreement (Carter Validus Mission Critical REIT II, Inc.)
