Release of Secured Guarantees. (i) All the Secured Guarantees will be released when all the Release Conditions are satisfied. If at any time any payment of a Secured Obligation is rescinded or must be otherwise restored or returned upon the insolvency or receivership of the Company or otherwise, the Secured Guarantees shall be reinstated with respect thereto as though such payment had been due but not made at such time. (ii) The Collateral Representative may release any Secured Guarantee with the prior written consent of the Required Holders.
Appears in 3 contracts
Samples: Guarantee and Security Agreement (Navisite Inc), Note Purchase Agreement (Navisite Inc), Note Purchase Agreement (Cmgi Inc)
Release of Secured Guarantees. (i) All the Secured Guarantees will be released when all the Release Conditions are satisfied. If at any time any payment of a Secured Obligation is rescinded or must be otherwise restored or returned upon the insolvency or receivership of the Company Borrower or otherwise, the Secured Guarantees shall be reinstated with respect thereto as though such payment had been due but not made at such time.
(ii) The Collateral Representative may release any Secured Guarantee with the prior written consent of the Required Holders.
Appears in 2 contracts
Samples: Master Transaction Agreement (American International Group Inc), Credit Agreement (Kinetic Concepts Inc)
Release of Secured Guarantees. (i) All the Secured Guarantees will be released when all the Release Conditions are satisfied. If at any time any payment of a Secured Obligation is rescinded or must be otherwise restored or returned upon the insolvency or receivership of the Company Borrower or otherwise, the Secured Guarantees shall be reinstated with respect thereto as though such payment had been due but not made at such time.
(ii) The Collateral Representative may release any Secured Guarantee with the prior written consent of the Required Holders.
Appears in 2 contracts
Samples: Credit Agreement (Huntington Ingalls Industries, Inc.), Credit Agreement (Kindred Healthcare Inc)
Release of Secured Guarantees. (i) All the Secured Guarantees will be released when all the Release Conditions are satisfied. If at any time any payment of a Secured Obligation is rescinded or must be otherwise restored or returned upon the insolvency or receivership of the Company or otherwise, the Secured Guarantees shall be reinstated with respect thereto as though such payment had been due but not made at such time.
(ii) The Collateral Representative may release any Secured Guarantee with the prior written consent of the Required Holders.
Appears in 1 contract
