Common use of Release of Note Guarantees Clause in Contracts

Release of Note Guarantees. A Note Guarantee by a Note Guarantor shall be automatically and unconditionally released and discharged, and no further action by such Note Guarantor, the Company or the Trustee is required for the release of such Note Guarantor’s Note Guarantee, upon: (1) (a) the occurrence of (i) any sale, exchange, transfer or other disposition (by merger, consolidation or otherwise) of the Capital Stock of such Note Guarantor after which the applicable Note Guarantor is no longer a Restricted Subsidiary or (ii) the sale or disposition of all or substantially all of the assets and property of such Note Guarantor (other than by lease), which sale, exchange, transfer or other disposition under clauses (i) or (ii) of this clause (a) is made in compliance with the applicable provisions of this Indenture, including Section 4.10 (it being understood that only such portion of the Net Available Cash as is required to be applied on or before the date of such release in accordance with the terms of this Indenture needs to be applied in accordance therewith at such time) and Section 5.01;

Release of Note Guarantees. (a) A Note Guarantee by a Note Guarantor shall be automatically and unconditionally released and discharged, and no further action by such Note Guarantor, the Company or the Trustee is shall be required for the release of such Note Guarantor’s Note Guarantee, upon: (1) (aA) in the occurrence case of (i) a Guarantor that is a Subsidiary, any sale, exchangeassignment, transfer transfer, conveyance, exchange or other disposition (by merger, consolidation amalgamation, arrangement, consolidation, winding up, dissolution, liquidation or otherwise) of the Capital Stock of such Note Guarantor after which the applicable Note Guarantor is no longer a Restricted Subsidiary or (ii) the sale or disposition of all or substantially all of the assets and property of such Note Guarantor (other than by lease)Subsidiary, which sale, exchangeassignment, transfer transfer, conveyance, exchange or other disposition under clauses (i) or (ii) of this clause (a) is made in compliance with the applicable provisions of this Third Lien Exchangeable Notes Indenture, including including, if applicable, Section 4.10 4.16 (it being understood that only such portion of the Net Available Cash as is required to be applied on or before the date of such release in accordance with the terms of this Third Lien Exchangeable Notes Indenture needs to be applied in accordance therewith at such time) and Section 5.015.01(a);

Release of Note Guarantees. (a) A Note Guarantee by a Note Guarantor shall be automatically and unconditionally released and discharged, and no further action by such Note Guarantor, the Company or the Trustee is shall be required for the release of such Note Guarantor’s Note Guarantee, upon: (1) (a) the occurrence of (iA) any sale, exchangeassignment, transfer transfer, conveyance, exchange or other disposition (by merger, consolidation amalgamation, arrangement, consolidation, winding up, dissolution, liquidation or otherwise) of the Capital Stock of such Note Guarantor after which the applicable Note Guarantor is no longer a Restricted Subsidiary or (ii) the sale or disposition of all or substantially all of the assets and property of such Note Guarantor (other than by lease)Subsidiary, which sale, exchangeassignment, transfer transfer, conveyance, exchange or other disposition under clauses (i) or (ii) of this clause (a) is made in compliance with the applicable provisions of this Indenture, including including, if applicable, Section 4.10 4.16 (it being understood that only such portion of the Net Available Cash as is required to be applied on or before the date of such release in accordance with the terms of this Indenture needs to be applied in accordance therewith at such time) and Section 5.015.01(a);

Release of Note Guarantees. (a) A Note Guarantee by a Note Guarantor shall be automatically and unconditionally released and discharged, and no further action by such Note Guarantor, the Company or the Trustee is shall be required for the release of such Note Guarantor’s Note Guarantee, upon: (1) (aA) in the occurrence case of (i) a Guarantor that is a Subsidiary, any sale, exchangeassignment, transfer transfer, conveyance, exchange or other disposition (by merger, consolidation amalgamation, arrangement, consolidation, winding up, dissolution, liquidation or otherwise) of the Capital Stock of such Note Guarantor after which the applicable Note Guarantor is no longer a Restricted Subsidiary or (ii) the sale or disposition of all or substantially all of the assets and property of such Note Guarantor (other than by lease)Subsidiary, which sale, exchangeassignment, transfer transfer, conveyance, exchange or other disposition under clauses (i) or (ii) of this clause (a) is made in compliance with the applicable provisions of this Second Lien Exchangeable Notes Indenture, including including, if applicable, Section 4.10 4.16 (it being understood that only such portion of the Net Available Cash as is required to be applied on or before the date of such release in accordance with the terms of this Second Lien Exchangeable Notes Indenture needs to be applied in accordance therewith at such time) and Section 5.015.01(a);

Release of Note Guarantees. (a) A Note Guarantee by a Note Guarantor shall be automatically and unconditionally released and discharged, and no further action by such Note Guarantor, the Company or the Trustee is shall be required for the release of such Note Guarantor’s Note Guarantee, upon: (1) (aA) in the occurrence case of (i) a Guarantor that is a Subsidiary, any sale, exchangeassignment, transfer transfer, conveyance, exchange or other disposition (by merger, consolidation amalgamation, arrangement, consolidation, winding up, dissolution, liquidation or otherwise) of the Capital Stock of such Note Guarantor after which the applicable Note Guarantor is no longer a Restricted Subsidiary or (ii) the sale or disposition of all or substantially all of the assets and property of such Note Guarantor (other than by lease)Subsidiary, which sale, exchangeassignment, transfer transfer, conveyance, exchange or other disposition under clauses (i) or (ii) of this clause (a) is made in compliance with the applicable provisions of this First Lien Indenture, including including, if applicable, Section 4.10 4.16 (it being understood that only such portion of the Net Available Cash as is required to be applied on or before the date of such release in accordance with the terms of this First Lien Indenture needs to be applied in accordance therewith at such time) and Section 5.015.01(a);