Release of the Collateral. The Collateral will be automatically and unconditionally released:
(a) in connection with any sale, assignment, transfer, conveyance or other disposition of such property or assets to a Person that is not (either before or after giving effect to such transaction) the Issuer or a Subsidiary, if the sale or other disposition does not violate this Indenture;
(b) in connection with any sale, transfer or other disposition of Capital Stock of a Guarantor or any holding company of such Guarantor to a Person that is not (either before or after giving effect to such transaction) the Issuer or a Subsidiary, if the sale, transfer or other disposition does not violate this Indenture, and the Guarantor ceases to be a Guarantor as a result of the sale, transfer or other disposition;
(c) in accordance with an enforcement action pursuant to the provisions of the Intercreditor Agreement or any Additional Intercreditor Agreement;
(d) upon the Notes having achieved Investment Grade Status, so long as no other indebtedness is at that time secured in a manner that would require the granting of a mortgage, security interest, charge, encumbrance, pledge or other lien pursuant to Section 4.11 of this Indenture; provided, however, that at any time the Notes receive both a rating of “Ba2” or lower from Xxxxx’x and a rating of “BB” or lower from S&P, or the equivalent of such rating by either such rating organization or, if no rating of Xxxxx’x or S&P then exists, the equivalent of such rating by any other Nationally Recognized Statistical Ratings Organization, to the extent permitted by Applicable Law, such mortgage, security interest, charge, encumbrance, pledge or other lien will be regranted or made to secure the obligations under the Notes;
(e) if any of the Security Interests no longer secure the Senior Revolving Credit Facilities (or any refinancing thereof) (in which case release will be of the Security Interests with respect to the relevant Collateral), so long as no other indebtedness is at that time secured in a manner that would require the granting of a mortgage, security interest, charge, encumbrance, pledge or other lien pursuant Section 4.11 of this Indenture;
(f) in accordance with Article 9 of this Indenture;
(g) upon Legal Defeasance, Covenant Defeasance or satisfaction and discharge of this Indenture as provided under Article 8 and Section 11.01;
(h) in accordance with the covenant described under Section 4.09;
(i) at the option of the Issuer (as confirmed in an ...
Release of the Collateral. (a) The Notes will cease to be secured by a security interest in the Collateral in accordance with the provisions of the Intercreditor Agreement.
(b) In addition to the Collateral release provisions set forth in the Intercreditor Agreement, the Notes will cease to be secured by a security interest on the Collateral upon:
(A) payment in full of the principal of, any accrued and unpaid interest on, the Notes and all other amounts or Obligations that are due and payable at or prior to the time such principal, accrued and unpaid interest, if any, are paid, (B) a satisfaction and discharge of this Indenture or (C) a Legal Defeasance or Covenant Defeasance pursuant to Article VIII; or
(ii) a refinancing of the Facilities Agreement Indebtedness in full as a result of which the Collateral does not secure Indebtedness Incurred to refinance such Facilities Agreement Indebtedness.
Release of the Collateral. Upon irrevocable payment in full of all sums which may be or become payable under the Cash Client Agreement and the full performance of the Client's obligations under the Margin Facility Terms, CIF will at the Client's request and expense release to the Client all the rights, title and interests of CIF in the Collateral and will give such Instructions and directions as the Client may require in order to perfect such release.
Release of the Collateral. (a) The security interest in respect of the Collateral granted hereby shall be fully released, subject to the terms of the Security Documents, (i) upon the repayment in full of the Notes or (ii) upon defeasance or discharge of the Notes as provided under Section 8.01 and Section 8.02; and may be partially or fully released, as the case may be, (iii) upon certain dispositions of Collateral in compliance with Section 4.11, Section 4.15 or Section 5.01;
Release of the Collateral. Except as set forth in this Section 2.5, no repayment or prepayment of all or any portion of the Loan shall cause, give rise to a right to require, or otherwise result in, the release of the Lien on any Collateral.
Release of the Collateral. Lenders hereby irrevocably authorize Agent, in its sole discretion, to release any Lien granted to or held by Agent, for the benefit of the Lender Parties, upon any Collateral (A) upon termination of this Agreement and indefeasible payment in cash and satisfaction in full of all Obligations (other than Unasserted Obligations); (B) which is sold or disposed of (x) in compliance with the Loan Documents (and Agent may rely conclusively on a certification of Borrowers to such effect, without further inquiry) or (y) while an Event of Default exists, in connection with the exercise of remedies under any Loan Document; or (C) which does not constitute a material portion of the Collateral.
Release of the Collateral. (a) To the extent a release is required by a Security Document or any Intercreditor Agreement, the Security Agent shall automatically release, and the Trustee (as applicable) shall release and, if so requested, be deemed to direct the Security Agent to automatically release, without the need for consent of the Holders or any further action, Liens on the Collateral securing the Notes:
(i) as to all of the Collateral, upon payment in full of principal of, interest and all other Obligations (in each case, other than contingent or unliquidated obligations or liabilities) on, the Notes issued under this Indenture;
(ii) as to the Collateral held by a Guarantor, upon release of the Note Guarantee of such Guarantor (with respect to the Liens securing such Note Guarantee granted by such Guarantor) in accordance with the applicable provisions of this Indenture;
(iii) upon the consummation of any transaction permitted by this Indenture as a result of which such Guarantor ceases to be a Subsidiary of the Issuer or otherwise ceases to be a Guarantor;
(iv) as to any Collateral, upon any sale or other transfer by any Guarantor of any Collateral that is permitted under this Indenture to any person that is not a Guarantor (but excluding any transaction subject to Article Five);
(v) as to any Collateral held by a Guarantor, if the Issuer designates such Guarantor to be an Unrestricted Subsidiary in accordance with the applicable provisions of this Indenture, the release of the property and assets of and Capital Stock issued by such Unrestricted Subsidiary;
Release of the Collateral. (i) Provided no Event of Default is existing under this Security Agreement, the Loan Agreement or any other Loan Documents, and the Equipment Line of Credit/Term Loan referred to in the applicable Notice of Borrowing is repaid in full pursuant to Article II, Section 2.01(v) of the Loan Agreement, the Bank agrees to deliver to the Debtor releases of the Collateral acquired with said Equipment Line of Credit/Term Loan for consideration; provided, however, the Bank shall have received from the Debtor fully executed UCC-3 Termination Statement(s) prepared by the Borrower, together with the appropriate filing fees for filing said UCC-3 Termination Statement(s) in the appropriate filing office(s) and accurately describing the Collateral to be released from the lien of this Security Agreement.
(ii) Provided no Event of Default is existing under this Security Agreement, the Loan Agreement or any other Loan Documents, in the event the Equipment Line of Credit/Term Loan referred to in the applicable Notice of Borrowing is repaid in full pursuant to Article II, Section 2.04 of the Loan Agreement for whatever reason and from whatever source of monies, the Bank agrees to deliver to the Debtor releases of the Collateral acquired with said repaid Equipment Line of Credit/Term Loan for consideration; provided, however, the Bank shall have received from the Debtor fully executed UCC-3 Termination Statement(s) prepared by the Borrower, together with the appropriate filing fees for filing said UCC-3 Termination Statement(s) in the appropriate filing office(s) and accurately describing the Collateral to be released from the lien of this Security Agreement. 104
Release of the Collateral. Except as provided in Section 3.20 and 10.1 hereof, as long as no Default or Event of Default shall have occurred and be continuing, at the sole cost and expense of the Company, the Company shall be entitled at any time and from time to time to request the Trustee to release a portion of the Collateral, and the Trustee shall release such portion of the Collateral upon payment in full of all Obligations under this Indenture and the Securities and the termination thereof, provided, that the Trustee shall not release any Lien on any Collateral pursuant to this Section 10.4 unless and until it shall have received from the Company an Officers' Certificate and an Opinion of Counsel certifying that all conditions precedent hereunder have been met, to the extent required by the TIA, an Opinion of Counsel that the release of such Lien complies with the TIA and such other documents required by Section 10.6 hereof. Upon compliance with the above provisions, the Trustee shall execute, deliver or acknowledge any necessary or proper instruments of termination, satisfaction or release to evidence the release of any Collateral permitted to be released pursuant to this Indenture.
Release of the Collateral. (a) To the extent a release is required by a Security Document, the Security Agent shall release, and the Trustee (as applicable) shall release and if so requested direct the Security Agent to release, without the need for consent of the Holders of the Notes, Liens on the Collateral securing the Notes:
(1) as to all of the Collateral, upon payment in full of principal of, interest and all other Note Obligations or discharge or defeasance thereof;
(2) as to the Collateral held by a Guarantor, upon release of the Note Guarantee of such Guarantor (with respect to the Liens securing such Note Guarantee granted by such Guarantor) in accordance with the applicable provisions of this Indenture;
(3) as to any Collateral, in connection with any disposition or transfer of such Collateral to any Person (but excluding any transaction subject to Article Five); provided that if the Collateral is disposed of or transferred to the Issuer or a Guarantor, the relevant Collateral becomes immediately subject to a substantially equivalent Lien in favor of the Security Agent securing the Notes; provided, further, that, in each case, such disposition or transfer is permitted by this Indenture and the Intercreditor Agreements;
