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.
Appears in 2 contracts
Samples: Credit Agreement (Wheeler Real Estate Investment Trust, Inc.), Credit Agreement (Wheeler Real Estate Investment Trust, Inc.)
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 SubsidiaryAgreement, then such Subsidiary Guarantor shall be deemed to be fully released by of all Obligations and all Hedge Obligations without the need of any further actions from Agent from liability under this Agreementor any Lender.
Appears in 2 contracts
Samples: Credit Agreement (Plymouth Industrial REIT Inc.), Credit Agreement (Plymouth Industrial REIT Inc.)
Release of Certain Subsidiary Guarantors. In the event that all Collateral Mortgaged Properties owned by a Subsidiary Guarantor shall have been released as Collateral for the Obligations and the Hedge Obligations in accordance with the terms of this Agreement and such Subsidiary then constitutes an Excluded SubsidiaryAgreement, then such Subsidiary Guarantor shall be released by Agent from liability under the Guaranty. The provisions of this Agreement§5.6 shall not apply to any Guarantor which owns a Mortgaged Property or any direct or indirect interest in a Mortgaged Property.
Appears in 2 contracts
Samples: Secured Master Loan Agreement (Ramco Gershenson Properties Trust), Secured Master Loan Agreement (Ramco Gershenson Properties Trust)
Release of Certain Subsidiary Guarantors. In the event that all Collateral Properties Real Estate owned by a any Subsidiary Guarantor shall have been released as ceases to be a Collateral for the Obligations and Hedge Obligations Property in accordance with the terms of this Agreement and such Subsidiary then constitutes an Excluded SubsidiaryAgreement, then such Subsidiary Guarantor shall be deemed to be fully released by of all Obligations and all Hedge Obligations without the need of any further actions from Agent from liability under this Agreementor any Lender.
Appears in 1 contract
