Release of Guarantee and Security. The Lender hereby acknowledges and agrees that the Released Guarantor is released from all of its obligations under the Loan Agreement and the Loan Documents to which it is a party and, as such, the Released Guarantor shall not, with respect to and under the Loan Agreement and the other Loan Documents to which it is a party, have any obligation of any kind to any of the parties hereto or to any third party.
Release of Guarantee and Security. If the Borrower requests that a Material Subsidiary no longer be designated as a Material Subsidiary and the conditions in Sections 6.7(c) have been or will be satisfied, the Agent shall confirm in writing the redesignation of such Material Subsidiary as a Subsidiary and shall release and discharge such Subsidiary from the Loan Party Guarantee and the Security of such Subsidiary.
Release of Guarantee and Security. (a) Upon the sale or disposition (by merger or otherwise) of all of the Capital Stock of a direct or indirect Subsidiary of the Company to a Person that is not the Company or a Subsidiary, Unrestricted Subsidiary or Affiliate of the Company, which sale or disposition is otherwise in compliance with the terms of this Indenture (including without limitation Section 4.14), the obligations of such Subsidiary under its Guarantee, all Collateral owned by such Subsidiary and the pledge of the Capital Stock of such Subsidiary pursuant to the Indenture shall be deemed released without any further action required on the part of the Trustee, such Subsidiary, the Company or any holder of the Notes; provided, however, that any obligations of such Subsidiary in respect of Indebtedness under the Credit Agreement (and/or any Refinancing Indebtedness Incurred in any Refinancing, or successive Refinancing, thereof) and any guarantee by such Subsidiary of the Indebtedness under the Hydro Agreement (and/or any Refinancing Indebtedness Incurred in any Refinancing, or successive Refinancing, thereof) have been or are simultaneously released.
(b) Upon the designation by the Board of Directors of the Company of a Subsidiary of the Company as an Unrestricted Subsidiary in compliance with the terms of this Indenture, the obligations of such Subsidiary under its Guarantee, all Collateral owned by such Subsidiary and the pledge of the Capital Stock of such Subsidiary pursuant to the Indenture shall be deemed released without any further action required on the part of the Trustee, such Subsidiary, the Company or any holder of the Notes; provided, however, that any obligations of such Subsidiary in respect of Indebtedness under the Credit Agreement (and/or any Refinancing Indebtedness Incurred in any Refinancing, or successive Refinancing, thereof) and any guarantee by such Subsidiary of the Indebtedness under the Hydro Agreement (and/or any Refinancing Indebtedness Incurred in any Refinancing, or successive Refinancing, thereof) have been or are simultaneously released.
(c) Upon the sale or disposition of any Collateral in accordance with this Indenture (or if such sale or disposition has been approved in writing by the Trustee) and the proceeds (if any) of such sale or disposition are applied in accordance with the provisions of this Indenture (to the extent, if any, applicable), the security interests of the Trustee in such Collateral shall be deemed released without any further act...
