Common use of Release of Guarantee Clause in Contracts

Release of Guarantee. The Guarantee of the Guarantors shall terminate upon: (a) a sale or other disposition (including by way of consolidation or merger) of each such Guarantor or the sale or disposition of all or substantially all the assets of such Guarantor (in each case other than to the Issuer or a Subsidiary) otherwise permitted by this Indenture; (b) if the Guarantee were required pursuant to the terms of this Indenture, the cessation of the circumstances requiring such Guarantee; or (c) defeasance or discharge of the Notes, as provided in Article 7. Upon delivery by the Issuer to the Trustee of an Officers’ Certificate and an Opinion of Counsel to the foregoing effect, the Trustee shall execute any documents reasonably requested by the Issuer in writing in order to evidence the release of the Guarantors from their obligations under the Guarantee.

Appears in 13 contracts

Samples: Indenture, Indenture, Indenture

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