Release of Motor Vehicles. So long as no Default shall have occurred and be continuing, upon the request of, and at the expense of, the Obligor, the Collateral Agent shall execute and deliver to the Obligor such instruments as the Obligor shall reasonably request to remove the notation of the Collateral Agent as lienholder on any certificate of title for any Motor Vehicle; provided that any such instruments shall be delivered, and the release shall be effective, only upon receipt by the Collateral Agent of a certificate from the Obligor stating that the Motor Vehicle the Lien on which is to be released is to be sold or has suffered a casualty loss (with title passing to the appropriate casualty insurance company in settlement of the claim for such loss).
Release of Motor Vehicles. So long as no Event of Default shall have occurred and be continuing, upon the request of the Guarantor, the Administrative Agent shall execute and deliver to the Guarantor such instruments as the Guarantor shall reasonably request to remove the notation of the Administrative Agent as lienholder on any certificate of title for any Motor Vehicle; provided that any such instruments shall be delivered, and the release effective only upon receipt by the Administrative Agent of a certificate from the Guarantor stating that the Motor Vehicle the lien on which is to be released is to be sold or has suffered a casualty loss (with title thereto passing to the casualty insurance company therefor in settlement of the claim for such loss).
Release of Motor Vehicles. So long as no Event of Default shall have occurred and be continuing, upon the request of the Company, the Administrative Agent shall execute and deliver to the Company such instruments as the Company shall reasonably request to remove the notation of the Administrative Agent as lienholder on any certificate of title for any Motor Vehicle; provided that any such instruments shall be delivered, and the release effective only upon receipt by the Administrative Agent of a certificate from the Company stating that the Motor Vehicle the lien on which is to be released is to be sold or has suffered a casualty loss (with title thereto passing to the casualty insurance company therefor in settlement of the claim for such loss).
Release of Motor Vehicles. So long as no Event of Default shall have occurred and be continuing, upon the request of, and at the expense of, the Company, the Trustee shall execute and deliver to the Company such instruments as the Company shall reasonably request to remove the notation of the Trustee as lienholder on any certificate of title for any Motor Vehicle; provided that any such instruments shall be delivered, and the release shall be effective, only upon receipt by the Trustee of a certificate from the Company stating that the Motor Vehicle the Lien on which is to be released is to be sold in the ordinary course of business or has suffered a casualty loss (with title passing to the appropriate casualty insurance company in settlement of the claim for such loss).
Release of Motor Vehicles. So long as no Default shall have ------------------------- occurred and be continuing, upon the request of the Securing Parties, the Administrative Agent shall execute and deliver to the Securing Parties such instruments as the Securing Parties shall reasonably request to remove the notation of the Administrative Agent as lienholder on any certificate of title for any Motor Vehicle; provided that any such instruments shall be delivered, -------- and the release effective only upon receipt by the Administrative Agent of a certificate from the respective Securing Party stating that the Motor Vehicle the lien on which is to be released is to be sold or has suffered a casualty loss.
Release of Motor Vehicles. So long as no Event of Default shall have occurred and be continuing, upon the request of the Company, the Agent shall execute and deliver to the Company such instruments as the Company shall reasonably request to remove the notation of the Agent as lienholder on any certificate of title for any Motor Vehicle; provided that any such instruments shall be delivered, and the release effective only upon receipt by the Agent of a certificate from the Company stating that the Motor Vehicle the lien on which is to be released is to be sold or has suffered a casualty loss (with title thereto passing to the casualty insurance company (or its designee) therefor in settlement of the claim for such loss) and any proceeds of such sale or casualty loss to the extent required by the Credit Agreement being paid to the Agent hereunder.
Release of Motor Vehicles. So long as no Default shall have occurred and be continuing and subject to the Exchange Offer Intercreditor Agreement, upon the request of, and at the expense of, any Obligor, the Trustee shall execute and deliver to such Obligor such instruments as such Obligor shall reasonably request to remove the notation of the Trustee as lienholder on any certificate of title for any Motor Vehicle; provided that any such instruments shall be delivered, and the release shall be effective, only upon receipt by the Trustee of a certificate from such Obligor stating that the Motor Vehicle the Lien on which is to be released is to be sold or has suffered a casualty loss (with title passing to the appropriate casualty insurance company in settlement of the claim for such loss).
Release of Motor Vehicles. So long as no Default has occurred and is continuing, upon the request of, and as the expense of, any Obligor, the Administrative Agent will execute and deliver to that Obligor such instruments as that Obligor reasonably requests to remove any notation of the Administrative Agent as lienholder on any certificate of title for any Motor Vehicle; PROVIDED that any such instruments shall be delivered, and the release shall be effective, only upon receipt by the Administrative Agent of a certificate from that Obligor stating that the Motor Vehicle the Lien on which is to be released is to be sold or has suffered a casualty loss (with title passing to the appropriate casualty insurance company in settlement of the claim for that loss) and payment to the Administrative Agent of any proceeds of that sale or casualty loss to the extent provided in the Credit Agreement.
Release of Motor Vehicles. So long as no Default shall have occurred and be continuing, upon the request of the Borrower, the Agent shall execute and deliver to the Borrower such instruments as the Borrower shall reasonably request to remove the notation of the Agent as lienholder on any certificate of title for any Motor Vehicle; provided that any such instruments shall be delivered, and the release effective only upon receipt by the Agent of a certificate from the Borrower stating that the Motor Vehicle the lien on which is to be released is to be sold or has suffered a Casualty Event (with title thereto passing to the casualty insurance company therefor in settlement of the claim for such loss) and any proceeds of such sale or Casualty Event in excess of $50,000, unless such proceeds are not required to be applied as provided in Section 2.09(b) or (c) of the Credit Agreement, being paid to the Agent hereunder.
Release of Motor Vehicles. So long as no Default shall have occurred and be continuing, upon the request of any Subsidiary Guarantor, the Agent shall execute and deliver to such Subsidiary Guarantor such instruments as such Subsidiary Guarantor shall reasonably request to remove the notation of the Agent as lienholder on any certificate of title for any Motor Vehicle; PROVIDED that any such instruments shall be delivered, and the release effective only upon receipt by the Agent of a certificate from such Subsidiary Guarantor stating that the Motor Vehicle the lien on which is to be released is to be sold or has suffered a Casualty Event (with title thereto passing to the casualty insurance company therefor in settlement of the claim for such loss) and any proceeds of such sale or Casualty Event, unless such proceeds are not required to be applied as provided in Section 2.09(b)(i) or (ii) of the Credit Agreement, being paid to the Agent hereunder.
