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 and such Subsidiary then constitutes an Excluded Subsidiary, then such Subsidiary Guarantor shall be released by Agent from liability under this Agreement.
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 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 Revolver 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 Existing Credit Agreement or any agreement evidencing other Unsecured Debt, as applicable, then such Subsidiary Guarantor shall be released by the Agent from liability under the Guaranty.
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. (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.
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 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 Revolver 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 Existing Credit Agreement or any agreement evidencing other Unsecured Debt, as applicable, then such Subsidiary Guarantor shall be released by the 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.”
Release of Certain Subsidiary Guarantors. Provided that no Default or Event of Default has occurred and is continuing, upon the request of a Borrower or any Subsidiary Guarantor, the Administrative Agent shall release such Borrower or Subsidiary Guarantor from liability hereunder or under the Guaranty; provided that (x) the Borrower shall deliver to Administrative Agent evidence satisfactory to Administrative Agent that the Borrowers will be in compliance with all covenants of this Agreement after giving effect to such sale and release and (y) all Borrowing Base Assets owned by such Subsidiary and all CDO Subsidiaries or Real Property Subsidiaries owned by such Subsidiary shall cease to be included in the Borrowing Base Assets Pool from the date of release of such Subsidiary from the Guaranty. Delivery by a Borrower to the Administrative Agent of any such request for a release shall constitute a representation by the Borrowers 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 all Mortgaged Properties 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 be released by Agent from liability under the Guaranty. The provisions of this §5.6 shall not apply to any Guarantor which owns a Mortgaged Property or any direct or indirect interest in a Mortgaged Property.
