Release of Loan Party Guarantee or Security. The Agent is instructed by the Lenders to release a Material Subsidiary from the Loan Party Guarantee and release and discharge the Security provided by it if required under Section 6.7(d), and to release and discharge Security if required pursuant to Section 6.9. The Agent is authorized by the Lenders to provide postponements of the Security at the reasonable discretion of the Agent with respect to Permitted Encumbrances. In the event of a Disposition permitted by Section 9.2(b) (if the Disposition is to a Person other than a Loan Party), the Agent is instructed by the Lenders (i) to release and discharge the Security with respect to the Collateral included in such Disposition and (ii) if all the capital stock of a Material Subsidiary is included in such Disposition, to release and discharge such Material Subsidiary from its obligations under the Loan Party Guarantee and the Security. The Lenders hereby authorize the Agent, and the Agent hereby agrees, to release the Loan Party Guarantee and the Security and discharge the Security Interests constituted by the Security at the Borrower's sole cost and expense forthwith after all of the Secured Obligations have been unconditionally and irrevocably paid or performed in full and the Credit Facility, all Lender Swaps (except where the Lender Swaps provide for alternate credit support if the Credit Facility is terminated and the applicable Swap Lenders have confirmed receipt of such alternate credit support), all Operating Facilities and all Cash Management Facilities have been terminated.
