Common use of Release of Subsidiary Guarantees Clause in Contracts

Release of Subsidiary Guarantees. The Lenders, the Swingline Lenders and the Issuing Lenders irrevocably authorize the Administrative Agent to, and the Administrative Agent hereby agrees with the Obligors that the Administrative Agent shall, release any Subsidiary Guarantor (other than (i) Linde GmbH following its Guarantee, if any, of the Company Obligations pursuant to Section 5.08(b), and (ii) Linde U.S.) from its obligations under the Guarantee of the Company Obligations upon the delivery by the Company of an Election to Terminate a Subsidiary Guarantee to the Administrative Agent. The delivery of an Election to Terminate a Subsidiary Guarantee shall not affect any obligation of a Subsidiary Borrower theretofore incurred pursuant to Article 2, the Company’s guaranty thereof pursuant to Article 10 or any other Subsidiary Guarantor’s guaranty pursuant to Article 10. The Administrative Agent shall promptly give notice to the Lenders of the receipt of any Election to Terminate a Subsidiary Guarantee.

Release of Subsidiary Guarantees. The Lenders, the Swingline Lenders and the Issuing Lenders irrevocably authorize the Administrative Agent to, and the Administrative Agent hereby agrees with the Obligors that the Administrative Agent shall, release any Subsidiary Guarantor (other than (i) Linde GmbH Xxxxx XX following its Guarantee, if any, of the Company Obligations pursuant to Section 5.08(b), and (ii) Linde U.S.Praxair, Inc.) from its obligations under the Guarantee of the Company Obligations upon the delivery by the Company of an Election to Terminate a Subsidiary Guarantee to the Administrative Agent. The delivery of an Election to Terminate a Subsidiary Guarantee shall not affect any obligation of a Subsidiary Borrower theretofore incurred pursuant to Article 2, the Company’s guaranty thereof pursuant to Article 10 or any other Subsidiary Guarantor’s guaranty pursuant to Article 10. The Administrative Agent shall promptly give notice to the Lenders of the receipt of any Election to Terminate a Subsidiary Guarantee.

Release of Subsidiary Guarantees. The Lenders, the Swingline Lenders and the Issuing Swingline Lenders irrevocably authorize the Administrative Agent to, and the Administrative Agent hereby agrees with the Obligors that the Administrative Agent shall, release any Subsidiary Guarantor (other than (i) Linde GmbH following its Guarantee, if any, so long as it guarantees any Specified Debt of the Company Obligations pursuant to Section 5.08(b), and (ii) Linde U.S.) from its obligations under the Guarantee of the Company Obligations upon the delivery by the Company of an Election to Terminate a Subsidiary Guarantee to the Administrative Agent. The delivery of an Election to Terminate a Subsidiary Guarantee shall not affect any obligation of a Subsidiary Borrower theretofore incurred pursuant to Article 2, the Company’s guaranty thereof pursuant to Article 10 or any other Subsidiary Guarantor’s guaranty pursuant to Article 10. The Administrative Agent shall promptly give notice to the Lenders of the receipt of any Election to Terminate a Subsidiary Guarantee.

Release of Subsidiary Guarantees. The Lenders, the Swingline Lenders and the Issuing Swingline Lenders irrevocably authorize the Administrative Agent to, and the Administrative Agent hereby agrees with the Obligors that the Administrative Agent shall, release any Subsidiary Guarantor (other than (i) Linde GmbH following its Guarantee, if any, of the Company Obligations pursuant to Section 5.08(b), and (ii) Linde U.S.) from its obligations under the Guarantee of the Company Obligations upon the delivery by the Company of an Election to Terminate a Subsidiary Guarantee to the Administrative Agent. The delivery of an Election to Terminate a Subsidiary Guarantee shall not affect any obligation of a Subsidiary Borrower theretofore incurred pursuant to Article 2, the Company’s guaranty thereof pursuant to Article 10 or any other Subsidiary Guarantor’s guaranty pursuant to Article 10. The Administrative Agent shall promptly give notice to the Lenders of the receipt of any Election to Terminate a Subsidiary Guarantee.