Common use of Release of Holdings Guarantee Clause in Contracts

Release of Holdings Guarantee. This Holdings Guarantee shall be automatically and unconditionally released and discharged, and no further action by Holdings, the Issuers, the Note Guarantors or the Trustee is required for the release of this Holdings Guarantee, upon: (a) the Issuer ceasing to be a Subsidiary of Holdings; provided that any such transaction occurs in compliance with this Indenture; or (b) the Issuers exercising their Legal Defeasance option or Covenant Defeasance option in accordance with Article 8 or the Issuers’ obligations under this Indenture being discharged in accordance with the terms of this Indenture.

Release of Holdings Guarantee. This Holdings Guarantee shall be automatically and unconditionally released and discharged, and no further action by Holdings, the IssuersIssuer, Intermediate Holdings, the Note Guarantors Guarantors, the Trustee or the Trustee Collateral Agent is required for the release of this Holdings Guarantee, upon: (a) the Issuer ceasing to be a Subsidiary of Holdings; provided that any such transaction occurs in compliance with this Indenture; or (b) the Issuers Issuer exercising their its Legal Defeasance option or Covenant Defeasance option in accordance with Article 8 hereof or the Issuers’ Issuer’s obligations under this Indenture being discharged in accordance with the terms of this Indenture.

Release of Holdings Guarantee. This Holdings Guarantee shall be automatically and unconditionally released and discharged, and no further action by Holdings, the Issuers, Intermediate Holdings, the Note Guarantors Guarantors, the Trustee or the Trustee Collateral Agent is required for the release of this Holdings Guarantee, upon: (a) the Issuer ceasing to be a Subsidiary of Holdings; provided that any such transaction occurs in compliance with this Indenture; or (b) the Issuers exercising their Legal Defeasance option or Covenant Defeasance option in accordance with Article 8 or the Issuers’ obligations under this Indenture being discharged in accordance with the terms of this Indenture.