Common use of Release of Subsidiary Guaranties Clause in Contracts

Release of Subsidiary Guaranties. If a Subsidiary has delivered a Subsidiary Guaranty, Borrower may at any time request a release of such Subsidiary Guaranty. If there is no Default or Unmatured Default, and Borrower would still be in compliance with all covenants if such Subsidiary were not a Subsidiary Guarantor, then Administrative Agent shall deliver within ten (10) Business Days a release of such Subsidiary Guarantor without the consent of any Lender.

Appears in 9 contracts

Samples: Credit Agreement (SITE Centers Corp.), Credit Agreement (SITE Centers Corp.), Credit Agreement (DDR Corp)

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