Common use of Release of Collateral and Guarantees Clause in Contracts

Release of Collateral and Guarantees. Notwithstanding anything herein or in any other Loan Document to the contrary, if, on any date, the Collateral and Guarantee Release Conditions have been satisfied and the Lead Borrower shall have delivered notice in writing to the Administrative Agent certifying the same, then, beginning on such date (the “Collateral and Guarantee Release Date”), the provisions of each Collateral Document, each Guaranty and each Intercreditor Agreement (if any) and the provisions set forth herein and in the other Loan Documents that apply only prior to the Collateral and Release Date (except, in each case, with respect to Holdings and the Lead Borrower in their capacities as a Guarantor) including, but not limited to, Sections 3.3(b), 3.12, 3.14, 3.16, 5.1(c)(iv), 5.2(b), 5.5(c), 5.5(d), 5.9(a), 5.9(b), 5.9(c), 5.10, 5.11(b), 6.2(bb) and clauses (o) and (p) and the last paragraph of Article VII shall no longer be applicable (it being understood that such provisions shall not be reinstated notwithstanding the inability of the Lead Borrower to satisfy the Collateral and Release Conditions following the Collateral and Guarantee Release Date).

Release of Collateral and Guarantees. Notwithstanding anything herein or in any other Loan Document to the contrary, if, on any date, the Collateral and Guarantee Release Conditions have been satisfied and the Lead Borrower shall have delivered notice in writing to the Administrative Agent certifying the same, then, beginning on such date (the “Collateral and Guarantee Release Date”), the provisions of each Collateral Document, each Guaranty and each Intercreditor Agreement (if any) and the provisions set forth herein and in the other Loan Documents that apply only prior to the Collateral and Release Date (except, in each case, with respect to Holdings and the Lead Borrower in their capacities as a Guarantor) including, but not limited to, Sections 3.3(b), 3.12, 3.14, 3.16, 5.1(c)(iv), 5.2(b), 5.5(c), 5.5(d), 5.9(a) (as in effect immediately prior to the First Amendment Closing Date), 5.9(b), 5.9(c), 5.10, 5.11(b), 6.2(bb) and clauses (o) and (p) and the last paragraph of Article VII shall no longer be applicable (it being understood that such provisions shall not be reinstated notwithstanding the inability of the Lead Borrower to satisfy the Collateral and Release Conditions following the Collateral and Guarantee Release Date).