Release of Guarantors and Collateral. If, in compliance with the terms and provisions of the Loan Documents, (i) all or substantially all of the Equity Interests of any Guarantor are sold or otherwise transferred to a Person or Persons none of which is a Loan Party in a transaction permitted hereunder or (ii) any Guarantor ceases to be a Restricted Subsidiary as a result of a transaction permitted hereunder, such Guarantor shall be automatically released from its obligations under this Agreement (including under Section 10.05 hereof) and the other Loan Documents, including its obligations to pledge and grant any Collateral owned by it pursuant to any Collateral Document and the pledge of such Equity Interests to the Administrative Agent pursuant to the Collateral Documents shall be automatically released, and, so long as the Borrower shall have provided the Agents such certifications or documents as any Agent shall reasonably request, the Administrative Agent shall take such actions as are necessary to effect each release described in this Section 11.09 in accordance with the relevant provisions of the Collateral Documents. When all Commitments hereunder have terminated, and all Loans or other Obligations hereunder which are accrued and payable have been paid or satisfied (other than contingent obligations as to which no claim has been asserted, Cash Management Obligations and obligations pursuant to Secured Hedge Agreements), and no Letter of Credit remains outstanding (except any Letter of Credit the Outstanding Amount of which the Obligations related thereto has been Cash Collateralized or for which a backstop letter of credit reasonably satisfactory to the applicable L/C Issuer has been put in place), this Agreement and the Guarantees made herein shall terminate with respect to all Obligations, except with respect to Obligations that expressly survive such repayment pursuant to the terms of this Agreement. In addition: (i) upon termination of the Aggregate Commitments and payment in full of all Obligations (other than contingent obligations as to which no claim has been asserted, Cash Management Obligations and obligations pursuant to Secured Hedge Agreements) and the expiration or termination of all Letters of Credit (other than Letters of Credit which have been Cash Collateralized or as to which other arrangements reasonably satisfactory to the Administrative Agent and the L/C Issuers shall have been made), all Liens on all property granted to or held by the Collateral Agent under any Lo...
Release of Guarantors and Collateral. Notwithstanding anything to the contrary contained in this Agreement, each of the Issuing Bank, the Swingline Lender and the Lenders agrees that:
Release of Guarantors and Collateral. (a) In the event that all the Equity Interests in any Guarantor are sold, transferred or otherwise disposed of to a Person other than the Borrower or its Subsidiaries in a transaction permitted under this Agreement or in the event that a Guarantor ceases to be a Material Subsidiary, the Administrative Agent shall, at the Borrower’s expense, promptly take such action and execute such documents as the Borrower may reasonably request to terminate the guarantee of such Guarantor.
Release of Guarantors and Collateral. Each Lender hereby consents to the release and hereby directs Collateral Agent to release (or in the case of clause (b)(ii) below, release or subordinate) the following:
Release of Guarantors and Collateral. A Guarantor shall automatically be released from its obligations under the Transaction Documents upon the request of the Note Obligors, in connection with a transaction permitted under this Agreement, as a result of which such Guarantor ceases to be a wholly owned Subsidiary; provided that, if so required by this Agreement, the Required Investors shall have consented to such transaction and the terms of such consent shall not have provided otherwise. (i) Upon the occurrence of the Termination Date, all obligations under the Transaction Documents shall be automatically released. 47 Doc#: US1:18443691v1
Release of Guarantors and Collateral. (a) The obligations of a Guarantor under the Guaranty shall be automatically and unconditionally released and discharged, and the Guaranty with respect to such Guarantor shall thereupon terminate and be discharged and of no further force and effect, and no further action by such Guarantor, the Borrower or the Administrative Agent shall be required for the release of the Guaranty with respect to such Guarantor:
Release of Guarantors and Collateral. (a) The Lien on any Collateral will be automatically released upon any of the occurrence of any of the circumstances set forth in Section 14.11(a)(i) to (vi). The Agent shall concurrently with such release (to the extent the Par Borrower has delivered to the Agent notice thereof at least three Business Days prior to such release, and if such notice was not delivered in such time frame, within three Business Days after such notice was delivered) execute and deliver such acknowledgments, releases and terminations as the Par Borrower may reasonably request in connection with any such release.
Release of Guarantors and Collateral. Upon the sale of any Subsidiary (or dissolution thereof, via merger or otherwise) or Collateral permitted by this Section 5.2(b), the Collateral Agent shall (to the extent applicable) deliver to the Credit Parties, upon the Credit Parties' request and at the Credit Parties' expense, such documentation as is reasonably necessary to evidence the release of the Collateral Agent's security interest, if any, in such Collateral, including, without limitation, amendments or terminations of UCC financing statements, the release of Mortgages and the release of such Subsidiary from all of its obligations under the Credit Documents, including the release of such Subsidiary if it is a Guarantor hereunder, from its obligations under Section 3A hereof. Upon the release of a Guarantor the pledges and grants of security interests to the extent given by such Guarantor pursuant to the Security Agreement and the Mortgages, and the covenants and other agreements contained herein and therein, shall no longer be effective as to such Guarantor and shall otherwise cease and be of no further force and effect as to such Guarantor.
Release of Guarantors and Collateral. If, in compliance with the terms and provisions of the Loan Documents and there exists no Default or Event of Default, (a) any Collateral is sold or otherwise transferred to a Person or Persons that are not Loan Parties in connection with a Permitted Disposition, (b) all or substantially all of the Equity Interests of any Guarantor are sold or otherwise transferred to a Person or Persons none of which is a Loan Party in a transaction permitted hereunder or (c) any Guarantor ceases to be a Subsidiary as a result of a transaction or designation permitted hereunder (any such Guarantor, and any Guarantor referred to in clause (a), a "Transferred Guarantor"), any such Collateral shall, upon the consummation of such sale or transfer, be automatically released from any security interest granted therein pursuant to any Loan Document, and any such Transferred Guarantor shall, upon the consummation of such sale or transfer or other transaction (but subject to the proviso below), be automatically released from its obligations under this Agreement (including under Section 12.15 hereof) and the other Loan Documents, including its obligations to pledge and grant any Collateral owned by it pursuant to any Loan Document and, in the case of a sale of all or substantially all of the Equity Interests of the Transferred Guarantor, the pledge of such Equity Interests and the grant of any security interest in any such Collateral owned by the Transferred Guarantor to the Collateral Agent pursuant to the Loan Documents shall be automatically released, and, so long as the Borrower shall have provided the Agents such certifications or documents as any Agent shall reasonably request, the Collateral Agent shall take such actions as are necessary to effect each release described in this Section 11.06 in accordance with the relevant provisions of the Loan Documents.
Release of Guarantors and Collateral. Schedule 5.9 contains a list of all obligations of Seller for which any of the Acquired Companies is a guarantor (the “Guaranteed Obligations”). On or prior to the Closing Date, Seller shall cause (i) each of the Acquired Companies to be released unconditionally as a guarantor of each of the Guaranteed Obligations and (ii) all Liens placed on the assets of the Acquired Companies as security for the Guaranteed Obligations to be released. All Indebtedness of any of the Acquired Companies to Seller or any of its Subsidiaries shall be cancelled as of the Closing Date.
