Common use of Release of Liens and Guarantees Clause in Contracts

Release of Liens and Guarantees. A Subsidiary Loan Party (other than any Borrower) shall be automatically released from its obligations under the Loan Documents and all security interests in the Collateral of such Subsidiary Loan Party created by the Loan Documents shall be automatically released upon the consummation of any transaction permitted by this Agreement as a result of which (a) such Subsidiary Loan Party ceases to be a Subsidiary and (b) any Guarantee by such Subsidiary Loan Party of the Senior Notes is released. Upon any sale, lease, transfer or other Disposition by any Loan Party of any Collateral that is permitted under this Agreement to any Person other than the Company or a Subsidiary or Affiliate of the Company, the security interest in such Collateral shall be automatically released. In connection with any termination or release pursuant to this Section, the Administrative Agent, upon receipt of any certificates or other documents reasonably requested by it to confirm compliance with this Agreement, shall promptly execute and deliver to any Loan Party, at such Loan Party’s expense, all documents that such Loan Party shall reasonably request to evidence such termination or release. The Lenders hereby irrevocably authorize the Administrative Agent to take all actions specified in this Section 9.18.

Release of Liens and Guarantees. (a) A Subsidiary Loan Party (other than any Borrower) shall automatically be automatically released from its obligations under the Loan Documents Documents, and all security interests created by the Security Documents in the Collateral of owned by such Subsidiary Loan Party created by the Loan Documents shall be automatically released released, upon the consummation of any transaction permitted by this Agreement as a result of which (a) such Subsidiary Loan Party ceases to be a Subsidiary Subsidiary; provided that, if so required by this Agreement, the Required Lenders shall have consented to such transaction and (b) any Guarantee by the terms of such Subsidiary Loan Party of the Senior Notes is releasedconsent shall not have provided otherwise. Upon any sale, lease, transfer sale or other Disposition transfer by any Loan Party (other than to the Borrower or any Subsidiary) of any Collateral that is in a transaction permitted under this Agreement Agreement, or upon the effectiveness of any written consent to any Person other than the Company or a Subsidiary or Affiliate release of the Companysecurity interest created under any Security Document in any Collateral pursuant to Section 9.02, the security interest interests in such Collateral created by the Security Documents shall be automatically released. In connection with any termination or release pursuant to this Section, the Administrative Agent, upon receipt of any certificates or other documents reasonably requested by it to confirm compliance with this Agreement, Agent shall promptly execute and deliver to any Loan Party, at such Loan Party’s expense, all documents that such Loan Party shall reasonably request to evidence such termination or release. The Lenders hereby irrevocably authorize Any execution and delivery of documents pursuant to this Section shall be without recourse to or warranty by the Administrative Agent to take all actions specified in this Section 9.18Agent.

Release of Liens and Guarantees. A Subsidiary Loan Party (other than any Borrower) shall automatically be automatically released from its obligations under the Loan Documents and all security interests in the Collateral of owned by such Subsidiary Loan Party created by the Loan Documents shall be automatically released upon the consummation of any transaction permitted by this Agreement as a result of which (a) such Subsidiary Loan Party ceases to be a Subsidiary Subsidiary; provided that, if so required by this Agreement, the Required Lenders shall have consented to such transaction and (b) the terms of such consent did not provide otherwise. Upon any Guarantee sale or other transfer by such any Subsidiary Loan Party (other than to the Borrower, any other Subsidiary or any of the Senior Notes is released. Upon any sale, lease, transfer or other Disposition by any Loan Party their Affiliates) of any Collateral that is permitted under this Agreement Agreement, or upon the effectiveness of any written consent to any Person other than the Company or a Subsidiary or Affiliate release of the Companysecurity interest granted under any Loan Document in any Collateral pursuant to Section 9.02 of this Agreement, the security interest in such Collateral shall be automatically released. In connection with any termination or release pursuant to this Section, the Administrative Agent, upon receipt of any certificates or other documents reasonably requested by it to confirm compliance with this Agreement, Agent shall promptly execute and deliver to any Subsidiary Loan Party, at such Subsidiary Loan Party’s 's expense, all documents that such Subsidiary Loan Party shall reasonably request to evidence such termination or release. The Lenders hereby irrevocably authorize Any execution and delivery of documents pursuant to this Section shall be without recourse to or warranty by the Administrative Agent to take all actions specified in this Section 9.18Agent.

Release of Liens and Guarantees. A 3.A Subsidiary Loan Party (other than any Borrower) shall automatically be automatically released from its obligations under the Loan Documents Documents, and all security interests created by the Security Documents in the Collateral of owned by such Subsidiary Loan Party created by the Loan Documents shall be automatically released released, upon the consummation of any transaction permitted by this Agreement as a result of which (a) such Subsidiary Loan Party ceases to be a Subsidiary Subsidiary; provided that, if so required by this Agreement, the Required Lenders shall have consented to such transaction and (b) any Guarantee by the terms of such Subsidiary Loan Party of the Senior Notes is releasedconsent shall not have provided otherwise. Upon any sale, lease, transfer sale or other Disposition transfer by any Loan Party (other than to the Borrower or any Subsidiary) of any Collateral that is in a transaction permitted under this Agreement Agreement, or upon the effectiveness of any written consent to any Person other than the Company or a Subsidiary or Affiliate release of the Companysecurity interest created under any Security Document in any Collateral pursuant to Section 9.02, the security interest interests in such Collateral created by the Security Documents shall be automatically released. In connection with any termination or release pursuant to this Section, the Administrative Agent, upon receipt of any certificates or other documents reasonably requested by it to confirm compliance with this Agreement, Agent shall promptly execute and deliver to any Loan Party, at such Loan Party’s expense, all documents that such Loan Party shall reasonably request to evidence such termination or release. The Lenders hereby irrevocably authorize Any execution and delivery of documents pursuant to this Section shall be without recourse to or warranty by the Administrative Agent to take all actions specified in this Section 9.18Agent.

Release of Liens and Guarantees. A Subsidiary Loan Party (other than any Borrower) Guarantor shall automatically be automatically released from its obligations under the Loan Documents Credit Documents, and all security interests in the Collateral of such Subsidiary Loan Party created by the Loan Security Documents in Collateral owned by such Subsidiary Guarantor shall be automatically released released, upon the consummation of any transaction permitted by this Agreement as a result of which (a) such Subsidiary Loan Party Guarantor ceases to be a Subsidiary Restricted Subsidiary; provided that, if so required by this Agreement, the Required Lenders shall have consented to such transaction and (b) any Guarantee by the terms of such Subsidiary Loan Party of the Senior Notes is releasedconsent shall not have provided otherwise. Upon any sale, lease, transfer sale or other Disposition transfer by any Loan Credit Party (other than to the Borrower or any other Credit Party) of any Collateral that is in a transaction permitted under this Agreement Agreement, or upon the effectiveness of any written consent to any Person other than the Company or a Subsidiary or Affiliate release of the Companysecurity interest created under any Security Document in any Collateral pursuant to Section 9.02, the security interest interests in such Collateral created by the Collateral Documents shall be automatically released. In connection with any termination or release pursuant to this SectionSection 9.17, the Administrative Agent, upon receipt of any certificates or other documents reasonably requested by it to confirm compliance with this Agreement, Agent shall promptly execute and deliver to any Loan Credit Party, at such Loan Credit Party’s expense, all documents that such Loan Credit Party shall reasonably request to evidence such termination or release. The Lenders hereby irrevocably authorize Any execution and delivery of documents pursuant to this Section 9.17 shall be without recourse to or warranty by the Administrative Agent to take all actions specified in this Section 9.18Agent.

Release of Liens and Guarantees. A Subsidiary Loan Party (other than any Borrower) Guarantor shall automatically be automatically released from its obligations under the Loan Documents and all security interests in the Collateral of such Subsidiary Loan Party created by the Loan Documents shall be automatically released upon the consummation of any transaction permitted by this Agreement as a result of which (a) such Subsidiary Loan Party Guarantor ceases to be a Subsidiary Subsidiary; provided that, if so required by this Agreement, the Required Lenders shall have consented to such transaction and (b) any Guarantee by the terms of such Subsidiary Loan Party of the Senior Notes is releasedconsent shall not have provided otherwise. Upon any sale, lease, transfer sale or other Disposition disposition (other than any lease or license) by any Loan Party (other than to the Borrower or any Subsidiary) of any Collateral that is in a transaction permitted under this Agreement Agreement, or upon the effectiveness of any written consent to any Person other than the Company or a Subsidiary or Affiliate release of the Companysecurity interest created under any Collateral Document in any Collateral pursuant to Section 9.02, the security interest interests in such Collateral created by the Collateral Documents shall be automatically released. In connection with any termination or release pursuant to this Section, the Administrative Agent, upon receipt of any certificates or other documents reasonably requested by it to confirm compliance with this Agreement, Agent shall promptly execute and deliver to any Loan Party, at such Loan Party’s expense, all documents that such Loan Party shall reasonably request to evidence such termination or releaserelease in accordance with Section 9.02. The Lenders hereby irrevocably authorize Any execution and delivery of documents pursuant to this Section shall be without recourse to or warranty by the Administrative Agent to take all actions specified in this Section 9.18Agent.

Release of Liens and Guarantees. A Subsidiary that is a Loan Party (other than any Borrower) shall automatically be automatically released from its obligations under the Loan Documents Documents, and all security interests in the Collateral of such Subsidiary Loan Party created by the Loan Documents in Collateral owned by such Loan Party shall be automatically released released, upon the consummation of any transaction permitted by this Agreement as a result of which (a) such Subsidiary Loan Party ceases to be a Subsidiary Subsidiary; provided that, if so required by this Agreement, the Required Lenders shall have consented to such transaction and (b) any Guarantee by the terms of such Subsidiary Loan Party of the Senior Notes is releasedconsent shall not have provided otherwise. Upon any sale, lease, transfer sale or other Disposition transfer by any Loan Party (other than to a Borrower or any other Loan Party) of any Collateral that is in a transaction permitted under this Agreement Agreement, or upon the effectiveness of any written consent to any Person other than the Company or a Subsidiary or Affiliate release of the Companysecurity interest created under any Loan Document in any Collateral pursuant to Section 10.01, the security interest interests in such Collateral created by the Loan Documents shall be automatically released. In connection with any termination or release pursuant to this Section, the Administrative Agent, upon receipt of any certificates or other documents reasonably requested by it to confirm compliance with this Agreement, Agent shall promptly execute and deliver to any the relevant Loan Party, at such Loan Party’s expense, all documents that such Loan Party shall reasonably request to evidence such termination or release. The Lenders hereby irrevocably authorize Any execution and delivery of documents pursuant to this Section shall be without recourse to or warranty by the Administrative Agent to take all actions specified in this Section 9.18Agent.

Release of Liens and Guarantees. (a) A Subsidiary Loan Party (other than any Borrower) shall automatically be automatically released from its obligations under the Loan Documents Documents, and all security interests created by the Security Documents in the Collateral of owned by such Subsidiary Loan Party created by the Loan Documents shall be automatically released released, upon the consummation of any transaction permitted by this Agreement as a result of which (a) such Subsidiary Loan Party ceases to be a Subsidiary Subsidiary; provided that, if so required by this Agreement, the Required Lenders shall have consented to such transaction and (b) any Guarantee by the terms of such Subsidiary Loan Party of the Senior Notes is releasedconsent shall not have provided otherwise. Upon any sale, lease, transfer sale or other Disposition transfer by any Loan Party (other than to Holdings, the Borrower or any Subsidiary) of any Collateral that is in a transaction permitted under this Agreement Agreement, or upon the effectiveness of any written consent to any Person other than the Company or a Subsidiary or Affiliate release of the Companysecurity interest created under any Security Document in any Collateral pursuant to Section 9.02, the security interest interests in such Collateral created by the Security Documents shall be automatically released. . (b) In connection with any termination or release pursuant to this Section, the Administrative Agent, upon receipt of any certificates or other documents reasonably requested by it to confirm compliance with this Agreement, Agent shall promptly execute and deliver to any Loan Party, at such Loan Party’s expense, all documents that such Loan Party shall reasonably request to evidence such termination or release. The Lenders hereby irrevocably authorize Any execution and delivery of documents pursuant to this Section shall be without recourse to or warranty by the Administrative Agent to take all actions specified in this Section 9.18Agent.