Common use of Release of Pledged Collateral Clause in Contracts

Release of Pledged Collateral. The Collateral Agent may, in accordance with the Credit Agreement and the Indenture, release any of the Pledged Collateral from this Pledge Agreement or may substitute any of the Pledged Collateral for other Pledged Collateral without altering, varying or diminishing in any way the force, effect, or Lien of this Pledge Agreement as to any Pledged Collateral not expressly released or substituted, and this Pledge Agreement shall continue as a first priority Lien on all Pledged Collateral not expressly released or substituted; provided that Custodian Pledged Collateral shall be released from the Lien of this Pledge Agreement in accordance with Section 5 of this Pledge Agreement; provided further that all Pledged Collateral (including Custodian Pledged Collateral) shall be released from the Lien of this Pledge Agreement in accordance with Section 8.11 of the Credit Agreement and Sections 10.03 and 10.10 of the Indenture or as otherwise permitted under the Indenture. In connection with any such release, the Collateral Agent agrees to promptly deliver, at the Pledgors’ cost and expense, any portion of the Pledged Collateral in the possession of the Collateral Agent or its agent to the Servicer or the related Pledgor.

Release of Pledged Collateral. The Collateral Administrative Agent may, in accordance with the Credit Agreement and the Indenture, may release any of the Pledged Collateral from this Pledge Agreement or may substitute any of the Pledged Collateral for other Pledged Collateral without altering, varying or diminishing in any way the force, effect, lien, pledge or Lien security interest of this Pledge Agreement as to any Pledged Collateral not expressly released or substituted, and this Pledge Agreement shall continue as a first priority Lien lien on all Pledged Collateral not expressly released or substituted; provided that Custodian . If any of the Pledged Collateral shall be released from sold, transferred or otherwise disposed of by any Pledgor in a transaction permitted by the Lien Credit Agreement or, if at the request of this Pledge Agreement any Pledgor the release of any Pledged Collateral shall be approved by the Required Lenders in accordance with Section 5 of this Pledge Agreement; provided further that all Pledged Collateral (including Custodian Pledged Collateral) shall be released from the Lien of this Pledge Agreement in accordance with Section 8.11 11.01 of the Credit Agreement Agreement, then, in each case, the liens and Sections 10.03 and 10.10 security interests of the Indenture or as otherwise permitted under Administrative Agent hereunder in such Pledged Collateral shall be automatically released and the Indenture. In connection with any such release, the Collateral Agent agrees to promptly deliverAdministrative Agent, at the Pledgors’ cost request and expensesole expense of such Pledgor, any portion shall execute and deliver to such Pledgor all releases or other documents reasonably necessary for the release of the Liens created hereby on such Pledged Collateral and return to such Pledgor all such Pledged Collateral in the possession of the Collateral Agent or its agent to the Servicer or the related Pledgorpossession.

Release of Pledged Collateral. The Collateral Administrative Agent may, in accordance with the Credit Agreement and the Indenture, may release any of the Pledged Collateral from this Pledge Agreement or may substitute any of the Pledged Collateral for other Pledged Collateral without altering, varying or diminishing in any way the force, effect, lien, pledge or Lien security interest of this Pledge Agreement as to any Pledged Collateral not expressly released or substituted, and this Pledge Agreement shall continue as a first first-priority Lien on all Pledged Collateral not expressly released or substituted; provided that Custodian . If any of the Pledged Collateral shall be released from sold, transferred or otherwise disposed of by any Pledgor in a transaction permitted by the Lien of this Pledge Agreement in accordance Credit Agreement, the other Loan Documents and applicable Law, then the Liens created hereby solely with Section 5 of this Pledge Agreement; provided further that all respect to such Pledged Collateral (including Custodian that has been permissibly sold, transferred or otherwise disposed of shall be automatically released and at the request and sole expense of such Pledgor, the Administrative Agent shall execute and deliver to such Pledgor all releases or other documents in form and substance reasonably acceptable to the Administrative Agent and such Pledgor that are reasonably necessary for the release of the Liens created hereby on such Pledged Collateral) shall be released from the Lien of this Pledge Agreement in accordance with Section 8.11 of the Credit Agreement and Sections 10.03 and 10.10 of the Indenture or as otherwise permitted under the Indenture. In connection with any such release, the Collateral Agent agrees to promptly deliver, at the Pledgors’ cost and expense, any portion of the Pledged Collateral in the possession of the Collateral Agent or its agent to the Servicer or the related Pledgor.

Release of Pledged Collateral. (i) The Collateral Administrative Agent may, in accordance with the Credit Agreement and the IndentureAgreement, release any of the Pledged Collateral from this Pledge Agreement or may substitute any of the Pledged Collateral for other Pledged Collateral without altering, varying or diminishing in any way the force, effect, or Lien of this Pledge Agreement as to any Pledged Collateral not expressly released or substituted, and this Pledge Agreement shall continue as a first priority Lien on all Pledged Collateral not expressly released or substituted; provided that Custodian Pledged Collateral shall be released from the Lien of this Pledge Agreement in accordance with Section 5 of this Pledge Agreement; provided further that all Pledged Collateral (including Custodian Pledged Collateral) shall be released from the Lien of this Pledge Agreement in accordance with Section 8.11 of the Credit Agreement and Sections 10.03 and 10.10 of the Indenture or as otherwise permitted under the IndentureAgreement. In connection with any such release, the Collateral Administrative Agent agrees to promptly deliver, at the Pledgors’ cost and expense, any portion of the Pledged Collateral in the possession of the Collateral Administrative Agent or its agent to the Servicer or the related Pledgor.