Common use of Release of Guaranty of Credit Agreements and Indentures Clause in Contracts

Release of Guaranty of Credit Agreements and Indentures. PRIMEDIA shall deliver to Purchaser at Closing documents (the “Financial Instrument Releases”), reasonably satisfactory to Purchaser, evidencing the release of the Company from all obligations to guarantee the indebtedness of PRIMEDIA under the following financial instruments: (i) the Credit Agreement, dated as of June 20, 2001, among PRIMEDIA, various lending institutions, Bank of America, N.A., as Syndication Agent, The Bank of New York and The Bank of Nova Scotia, as Co-Documentation Agents, and XX Xxxxxx Xxxxx Bank, as Administrative Agent; (ii) the Credit Agreement, dated as of May 14, 2004, among PRIMEDIA, various lending institutions, Bank of America, N.A., as Syndication Agent, Citicorp North America, Inc., as Co-Syndication Agent, and JPMorgan Chase Bank, as Administrative Agent; (iii) US$175,000,000 aggregate principal amount of PRIMEDIA’s Senior Floating Rate Notes due 2010, pursuant to an Indenture dated as of May 14, 2004 between PRIMEDIA and The Bank of New York, as Trustee; (iv) US$300,000,000 aggregate principal amount of PRIMEDIA’s 8% Senior Notes due 2013, pursuant to an Indenture dated as of May 15, 2003 between PRIMEDIA and The Bank of New York, as Trustee; (v) US$500,000,000 aggregate principal amount of PRIMEDIA’s 8 7/8% Senior Notes due 2011, pursuant to an Indenture dated as of May 8, 2001 between the PRIMEDIA and The Bank of New York, as Trustee; and (vi) US$250,000,000 aggregate principal amount of PRIMEDIA’s 7 5/8% Senior Notes due 2008, pursuant to an Indenture dated as of February 17, 1998 between PRIMEDIA and The Bank of New York, as Trustee.

Release of Guaranty of Credit Agreements and Indentures. PRIMEDIA shall deliver to Purchaser at Closing documents (the “Financial Instrument Releases”), reasonably satisfactory to Purchaser, evidencing the release of the Company from all obligations to guarantee the indebtedness of PRIMEDIA under the following financial instruments: (i) the Credit Agreement, dated as of June 20, 2001, among PRIMEDIA, various lending institutions, Bank of America, N.A., as Syndication Agent, The Bank of New York and The Bank of Nova Scotia, as Co-Documentation Agents, and XX JX Xxxxxx Xxxxx Cxxxx Bank, as Administrative Agent; (ii) the Credit Agreement, dated as of May 14, 2004, among PRIMEDIA, various lending institutions, Bank of America, N.A., as Syndication Agent, Citicorp North America, Inc., as Co-Syndication Agent, and JPMorgan Chase Bank, as Administrative Agent; (iii) US$175,000,000 aggregate principal amount of PRIMEDIA’s Senior Floating Rate Notes due 2010, pursuant to an Indenture dated as of May 14, 2004 between PRIMEDIA and The Bank of New York, as Trustee; (iv) US$300,000,000 aggregate principal amount of PRIMEDIA’s 8% Senior Notes due 2013, pursuant to an Indenture dated as of May 15, 2003 between PRIMEDIA and The Bank of New York, as Trustee; (v) US$500,000,000 aggregate principal amount of PRIMEDIA’s 8 7/8% Senior Notes due 2011, pursuant to an Indenture dated as of May 8, 2001 between the PRIMEDIA and The Bank of New York, as Trustee; and (vi) US$250,000,000 aggregate principal amount of PRIMEDIA’s 7 5/8% Senior Notes due 2008, pursuant to an Indenture dated as of February 17, 1998 between PRIMEDIA and The Bank of New York, as Trustee.

Release of Guaranty of Credit Agreements and Indentures. PRIMEDIA Seller shall deliver to Purchaser at the Closing documents (the “Financial Instrument Releases”), reasonably satisfactory to Purchaser, ) evidencing the release of the Company from all obligations to guarantee the indebtedness of PRIMEDIA under the following financial instruments: instruments (the “PRIMEDIA Guarantees”): (i) the Credit Agreement, dated as of June 20, 2001, among PRIMEDIA, various lending institutions, Bank of America, N.A., as Syndication Agent, The Bank of New York and The Bank of Nova Scotia, as Co-Documentation Agents, and XX Xxxxxx Xxxxx Bank, as Administrative Agent; (ii) the Credit Agreement, dated as of May 14, 2004, among PRIMEDIA, various lending institutions, Bank of America, N.A., as Syndication Agent, Citicorp North America, Inc., as Co-Syndication Agent, and JPMorgan Chase Bank, as Administrative Agent; (iii) US$175,000,000 aggregate principal amount of PRIMEDIA’s Senior Floating Rate Notes due 2010, pursuant to an Indenture dated as of May 14, 2004 between PRIMEDIA and The Bank of New York, as Trustee; (iv) US$300,000,000 aggregate principal amount of PRIMEDIA’s 8% Senior Notes due 2013, pursuant to an Indenture dated as of May 15, 2003 between PRIMEDIA and The Bank of New York, as Trustee; (v) US$500,000,000 aggregate principal amount of PRIMEDIA’s 8 7/8% Senior Notes due 2011, pursuant to an Indenture dated as of May 8, 2001 between the PRIMEDIA and The Bank of New York, as Trustee; and (vi) US$250,000,000 aggregate principal amount of PRIMEDIA’s 7 5/8% Senior Notes due 2008, pursuant to an Indenture dated as of February 17, 1998 between PRIMEDIA and The Bank of New York, as Trustee. Seller shall indemnify and hold harmless Purchaser and the Company from and against any and all loss, liability or damage arising out of or relating to the Company’s obligations under the PRIMEDIA Guarantees in accordance with Article VIII of this Agreement.