Release of Guarantor upon Sale of Stock Sample Clauses

Release of Guarantor upon Sale of Stock. If (i) either (A) all of the outstanding shares of capital stock and other equity, ownership and profit interests in any Guarantor are sold to a Person not an Affiliate of the Borrower in a transaction which is permitted under Section 5.03(b)(iv), Section 5.03(b)(v) or Section 5.03(b)(vi) and which is not a Retained Interest Sale or (B) the Guarantor Liability Limit of any Guarantor is reduced to zero as part of a Retained Interest Sale and by reason of a voluntary reduction of the Facility Amount that is elected by the Borrower at the time and in the manner set forth in the definition of "Guarantor Liability Limit," and if (ii) the conditions set forth in Section 5.03(b)(iv), Section 5.03(b)(v) or Section 5.03(b)(vi), as the case may be, are met in respect of such transaction, then upon request by the Agent or the Borrower each Lender shall confirm in writing that the liability of such Guarantor under the Guaranty is released and discharged effective when such transaction is consummated and such requirements are met, as set forth in Section 2.13 of the Guaranty. Such confirmation from the Requisite Lenders (1) shall establish conclusively that the liability of such Guarantor under the Guaranty is released and discharged as set forth in Section 2.13 of the Guaranty and (2) may be relied on, without further inquiry, by the purchaser in such transaction and each of its transferees.