Release of Certain Subsidiary Guarantors. In the event that all Collateral Properties owned by a Subsidiary Guarantor shall have been released as Collateral for the Obligations and Hedge Obligations in accordance with the terms of this Agreement, then such Subsidiary Guarantor shall be deemed to be fully released of all Obligations and all Hedge Obligations without the need of any further actions from Agent or any Lender.
Release of Certain Subsidiary Guarantors. In the event that all Unencumbered Properties owned by a Subsidiary Guarantor, directly or indirectly, shall have been released as an Unencumbered Property in accordance with the terms of this Agreement, then such Subsidiary Guarantor shall be deemed to be fully released of all Obligations and all Hedge Obligations without the need of any further actions from Agent or any Lender.
Release of Certain Subsidiary Guarantors. (a) In the event that all Pool Properties owned by a Subsidiary Guarantor shall have been released from the Pool in accordance with the terms of this Agreement, then such Subsidiary Guarantor shall be deemed to be fully released of all Obligations and all Hedge Obligations without the need of any further actions from Agent or any Lender.
(b) Notwithstanding anything herein to the contrary, upon the Investment Grade Pricing Date, no Subsidiary of the Borrower shall be required to become a Subsidiary Guarantor unless (i) such Subsidiary creates, incurs, acquires, assumes, suffers to exist or otherwise is or becomes liable (whether as a borrower, co-borrower, guarantor or otherwise) with respect to any Indebtedness that is Recourse Indebtedness or Unsecured Indebtedness or (ii) the REIT Guarantor or the Borrower cease to have an Investment Grade Rating. Upon the occurrence of the Investment Grade Pricing Date, and provided that no Default or Event of Default exists, the Agent shall promptly release any Pool Property Owner from the Guaranty upon receipt by the Agent of a certificate from an officer of the Borrower certifying that such Pool Property Owner has not created, incurred, acquired, assumed, suffered to exist and is not otherwise liable (whether as a borrower, co-borrower, guarantor or otherwise) with respect to any Indebtedness that is Recourse Indebtedness or Unsecured Indebtedness (or simultaneously with the release hereunder will be released from liability with respect to such Indebtedness). In the event that at any time after the Subsidiary Guarantors have been released from the Guaranty or from their obligation to become a Subsidiary Guarantor pursuant to this Section, such Pool Property Owner becomes obligated on any Unsecured Indebtedness or other Recourse Indebtedness or the REIT Guarantor or Borrower cease to have an Investment Grade Rating, the Borrower shall within ten (10) Business Days (or such later date as agreed by the Agent) after such occurrence cause such Pool Property Owner required to become a Subsidiary Guarantor under §5.3 of this Agreement to execute and deliver the documents required in said §5.
Release of Certain Subsidiary Guarantors. Each of the undersigned Noteholders hereby agrees that effective as of the Fourth Amendment Effective Date, the Inactive Subsidiaries are hereby released as Subsidiary Guarantors and Obligors under the Financing Documents.
Release of Certain Subsidiary Guarantors. In the event that all Collateral Pool Properties and/or Pledged Properties directly or indirectly owned by a Subsidiary Guarantor shall have been released as Collateral for the Obligations in accordance with the terms of this Agreement, then such Subsidiary Guarantor shall cease to be a Subsidiary Guarantor and shall be deemed to be fully released by Administrative Agent and the Lenders from all Obligations, and from any other liability under this Agreement and the Subsidiary Guaranty, without the need of any further action from the Administrative Agent or any Lender; provided that, the Administrative Agent shall, at Borrower’s request, execute and deliver all applicable customary release documentation reasonably requested by the Borrower.
Release of Certain Subsidiary Guarantors. In the event that all Eligible Real Estate Assets owned by a Subsidiary Guarantor shall have been released from the Unencumbered Asset Pool in accordance with the terms of this Agreement and from the 2014 Term Loan Unencumbered Asset Pool or any other borrowing base or asset pool under any other Unsecured Debt, as applicable, in accordance with the terms of the 2014 Term Loan Agreement or any agreement evidencing other Unsecured Debt, as applicable, then such Subsidiary Guarantor shall be released by Agent from liability under the Guaranty. In addition to the foregoing, upon the transfer of any Eligible Real Estate owned by any of Coresite XxXxxxxx, Coresite 2901 or Coresite 900 to a Subsidiary of any of such entities as provided in Section 5.3 above, upon the joinder of such Subsidiary as a Subsidiary Guarantor as provided pursuant to the terms of Section 5.3 above, Coresite XxXxxxxx, Coresite 2901 or Coresite 900, as applicable, shall be automatically released from its obligations under the Guaranty and shall no longer be a Subsidiary Guarantor.”
Section 6.1 (e) of the Credit Agreement is hereby deleted in its entirety and the following is substituted in its stead.
Release of Certain Subsidiary Guarantors. Provided that no Default or Event of Default has occurred and is continuing, upon the request of the Borrower or any Subsidiary Guarantor the Agent shall release such Subsidiary Guarantor from liability under the Guaranty; provided that (x) the Borrower shall deliver to Agent evidence satisfactory to Agent that the Borrower will be in compliance with all covenants of this Agreement after giving effect to such sale and release and (y) all Unencumbered Borrowing Base Assets owned by such Subsidiary and all CDO Subsidiaries owned by such Subsidiary shall cease to be included in the calculation of the Unencumbered Borrowing Base Asset Value from the date of release of such Subsidiary from the Guaranty. Delivery by the Borrower to the Agent of any such request for a release shall constitute a representation by the Borrower that the matters set forth in the preceding sentence (both as of the date of the giving of such request and as of the date of the effectiveness of such request) are true and correct with respect to such request.
Release of Certain Subsidiary Guarantors. In the event that a Subsidiary Guarantor shall transfer all of its assets for fair value and for cash in the ordinary course of its business, then such Subsidiary Guarantor may be released by Agent from liability under the Guaranty provided that the Borrower shall deliver to Agent evidence satisfactory to Agent that (a) the Borrower will be in compliance with all covenants of this Agreement after giving effect to such sale and release, (b) such Subsidiary Guarantor shall be legally dissolved after its release from the Guaranty, and (c) the net cash proceeds from such sale are being distributed to Borrower as part of such dissolution. The provisions of this Section 5.3 shall not apply to JDN AL, JDN DCI, JDN Holdings, JDN LP, Inc.
Release of Certain Subsidiary Guarantors. In the event that a Subsidiary Guarantor shall transfer all of its assets for fair value and for cash in the ordinary course of its business, then such Subsidiary Guarantor may be released by Agent from liability
Release of Certain Subsidiary Guarantors. On and as of the Restatement Date, or such later date on which Jerseyco shall have become a party to the Guarantee and Pledge Agreement, the Requisite Lenders hereby authorize the Agent to, and the Agent hereby does, upon the request of the U.S. Borrower, release CBRE Global Holdings SARL and RELAM Amsterdam Holdings B.V. from their Guarantee under the Guarantee and Pledge Agreement.
