Common use of Release of Guarantee of a Subsidiary Guarantor Clause in Contracts

Release of Guarantee of a Subsidiary Guarantor. (a) A Subsidiary Guarantor will be automatically released and relieved from its obligations under its Guarantee and the Indenture, any supplemental indenture and Notation of Guarantee, in the following circumstances: (1) such Subsidiary Guarantor no longer guaranteeing or otherwise being an obligor (or which guarantee or obligation is being simultaneously released or will be immediately released after the release of the Subsidiary Guarantor from its Guarantee of the Notes) in respect of Triggering Indebtedness, provided that any release of such Subsidiary Guarantor’s Guarantee pursuant to this Section 5.5(a)(1) will not limit the obligation of such Subsidiary Guarantor to Guarantee the Notes at any time after such release if such Subsidiary subsequently, directly or indirectly, guarantees, or otherwise becomes obligated in respect of, Triggering Indebtedness; (2) such Subsidiary Guarantor consolidating with, merging into or transferring all of its properties or assets to another Guarantor, and as a result of, or in connection with, such transaction such Subsidiary Guarantor dissolves or otherwise ceases to exist; (3) if the Company exercises its legal defeasance option or its covenant defeasance option with respect to the Notes (as provided in Section 8.3 and Section 8.4, respectively, of the Base Indenture) or if the Company’s obligations under the Indenture with respect to the Notes are discharged in accordance with the terms of the Indenture (as provided in Section 8.1 of the Base Indenture); (4) upon the sale or other disposition (including by way of consolidation or merger) of such Subsidiary Guarantor; or (5) upon the sale or disposition of all or substantially all of the assets of such Subsidiary Guarantor; provided, however, that in the case of Section 5.5(a)(4) and Section 5.5(a)(5) above, (1) such sale or other disposition is made to a person other than the Parent or any of its other Subsidiaries and (2) such sale or disposition is otherwise permitted by the Indenture.

Release of Guarantee of a Subsidiary Guarantor. (a) A Subsidiary Guarantor will be automatically released and relieved from its obligations under its Guarantee and the Indenture, any supplemental indenture and Notation of Guarantee, in the following circumstances: (1) such Subsidiary Guarantor no longer guaranteeing or otherwise being an obligor (or which guarantee or obligation is being simultaneously released or will be immediately released after the release of the Subsidiary Guarantor from its Guarantee of the Notes) in respect of Triggering Indebtedness, provided that any release of such Subsidiary Guarantor’s Guarantee pursuant to this Section 5.5(a)(1) will not limit the obligation of such Subsidiary Guarantor to Guarantee the Notes at any time after such release if such Subsidiary subsequently, directly or indirectly, guarantees, or otherwise becomes obligated in respect of, Triggering Indebtedness; (2) such Subsidiary Guarantor consolidating with, merging into or transferring all of its properties or assets to another Guarantor, and as a result of, or in connection with, such transaction such Subsidiary Guarantor dissolves or otherwise ceases to exist; (3) if the Company exercises its legal defeasance option or its covenant defeasance option with respect to the Notes (as provided in Section 8.3 and Section 8.4, respectively, of the Base Indenture) or if the Company’s obligations under the Indenture with respect to the Notes are discharged in accordance with the terms of the Indenture (as provided in Section 8.1 of the Base Indenture); (4) upon the sale or other disposition (including by way of consolidation or merger) of such Subsidiary Guarantor; or (5) upon the sale or disposition of all or substantially all of the assets of such Subsidiary Guarantor; provided, however, that in the case of Section 5.5(a)(4) and Section 5.5(a)(5) above, (1) such sale or other disposition is made to a person Person other than the Parent Guarantor or any of its other Subsidiaries and (2) such sale or disposition is otherwise permitted by the Indenture.

Release of Guarantee of a Subsidiary Guarantor. (a) A Subsidiary Guarantor will shall be automatically released and relieved from its obligations under its Guarantee and the Indenture, Indenture and any supplemental indenture and Notation of Guarantee, in the following circumstances: (1i) if such Subsidiary Guarantor no longer guaranteeing guarantees or is otherwise being no longer an obligor (or which if such Subsidiary Guarantor’s guarantee or obligation is being simultaneously released or will be immediately released after the release of the Subsidiary Guarantor from its Guarantee of the Notes) in respect of Triggering Indebtedness, ; provided that any release of such Subsidiary Guarantor’s Guarantee pursuant to this Section 5.5(a)(110.1(a)(i) will shall not limit the obligation of such Subsidiary Guarantor to Guarantee the Notes at any time after such release if such Subsidiary subsequently, directly or indirectly, guarantees, or otherwise becomes obligated in respect of, Triggering Indebtedness; (2ii) if such Subsidiary Guarantor consolidating consolidates with, merging merges into or transferring transfers all of its properties or assets to another Guarantor, and as a result of, or in connection with, such transaction such Subsidiary Guarantor dissolves or otherwise ceases to exist; (3iii) if the Company Issuer exercises its legal defeasance option or its covenant defeasance option with respect to the Notes (as provided in Section 8.3 and Section 8.4, respectively, 402 of the Base Indenture) or if the CompanyIssuer’s obligations under the Indenture with respect to the Notes are discharged in accordance with the terms of the Indenture (as provided in Section 8.1 401 of the Base Indenture); (4iv) upon the sale or other disposition (including by way of consolidation or merger) of such Subsidiary Guarantor; or (5v) upon the sale or disposition of all or substantially all of the assets of such Subsidiary Guarantor; provided, however, that in the case of Section 5.5(a)(4clauses (iv) and Section 5.5(a)(5(v) above, (1) such sale or other disposition is made to a person Person other than the Parent Guarantor or any of its other Subsidiaries and (2) such sale or disposition is otherwise permitted by the Indenture.