Common use of Release of the Note Guarantees Clause in Contracts

Release of the Note Guarantees. A Subsidiary shall cease to be a Subsidiary Guarantor hereunder and shall have no further obligation or liability under its Subsidiary Guarantee without the requirement of any further action by the Company, such Subsidiary or the Trustee: (a) if such Subsidiary Guarantor is no longer a subsidiary guarantor under the Credit Agreement, and if the Company shall deliver to the Trustee an Officer’s Certificate certifying to that effect as of the date of such Officer’s Certificate; or (b) upon a Legal Defeasance or satisfaction and discharge of this Indenture that complies with Sections 8.1, 8.2 and 8.4 or Section 8.5, as applicable. Upon any occurrence giving rise to a release of a Note Guarantee as specified above, the Trustee shall execute any documents reasonably required by the Company in order to evidence or effect such release, discharge and termination in respect of such Note Guarantee. Neither the Company nor any Subsidiary Guarantor shall be required to make a notation on the Notes to reflect any Note Guarantee or any such release, termination or discharge.

Appears in 4 contracts

Samples: Indenture (Sealed Air Corp/De), Indenture (Sealed Air Corp/De), Indenture (Sealed Air Corp/De)

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Release of the Note Guarantees. A Subsidiary shall cease to be a Subsidiary Guarantor hereunder and shall have no further obligation or liability under its Subsidiary Guarantee without the requirement of any further action by the CompanyIssuers, such Subsidiary or the Trustee: (a) if such Subsidiary Guarantor is no longer a subsidiary guarantor under the Credit Agreement, and if the Company Issuers shall deliver to the Trustee an Officer’s Certificate certifying to that effect as of the date of such Officer’s CertificateCertificate and an Opinion of Counsel stating that all covenants and conditions precedent to such release have been complied with; or (b) upon a Legal Defeasance or satisfaction and discharge of this Indenture that complies with Sections 8.1, 8.2 and 8.4 or Section 8.5, as applicable. Upon any occurrence giving rise to a release of a Note Guarantee as specified above, the Trustee shall execute any documents reasonably required by the Company Issuers in order to evidence or effect such release, discharge and termination in respect of such Note Guarantee. Neither the Company Issuers nor any Subsidiary Guarantor shall be required to make a notation on the Notes to reflect any Note Guarantee or any such release, termination or discharge.

Appears in 2 contracts

Samples: Indenture (Sealed Air Corp/De), Indenture (Sealed Air Corp/De)

Release of the Note Guarantees. A Subsidiary shall cease to be a Subsidiary Guarantor hereunder and shall have no further obligation or liability under its Subsidiary Guarantee without the requirement of any further action by the Company, such Subsidiary or the Trustee: (a) if such Subsidiary Guarantor is no longer a subsidiary guarantor under the Credit Agreement, and if the Company shall deliver to the Trustee an Officer’s Certificate certifying to that effect as of the date of such Officer’s Certificate; or (b) upon a Legal Defeasance or satisfaction and discharge of this Indenture that complies with Sections 8.1, 8.2 and 8.4 or Section 8.5, as applicable. Upon any occurrence giving rise to a release of a Note Guarantee as specified above, the Trustee shall execute any documents reasonably required by the Company in order to evidence or effect such release, discharge and termination in respect of such Note Guarantee. Neither the Company nor any Subsidiary Guarantor shall be required to make a notation on the Notes of either series to reflect any Note Guarantee or any such release, termination or discharge.

Appears in 2 contracts

Samples: Indenture (Sealed Air Corp/De), Indenture (Sealed Air Corp/De)

Release of the Note Guarantees. A Subsidiary shall cease to be a Subsidiary Guarantor hereunder and shall have no further obligation or liability under its Subsidiary Guarantee without the requirement of any further action by the CompanyIssuers, such Subsidiary or the Trustee: (a) if such Subsidiary Guarantor is no longer a subsidiary guarantor under the Credit Agreement, and if the Company Issuers shall deliver to the Trustee an Officer’s Certificate certifying to that effect as of the date of such Officer’s Certificate; or (b) upon a Legal Defeasance or satisfaction and discharge of this Indenture that complies with Sections 8.1, 8.2 and 8.4 or Section 8.5, as applicable. Upon any occurrence giving rise to a release of a Note Guarantee as specified above, the Trustee shall execute any documents reasonably required by the Company Issuers in order to evidence or effect such release, discharge and termination in respect of such Note Guarantee. Neither the Company Issuers nor any Subsidiary Guarantor shall be required to make a notation on the Notes to reflect any Note Guarantee or any such release, termination or discharge.

Appears in 1 contract

Samples: Indenture (Sealed Air Corp/De)

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Release of the Note Guarantees. A Subsidiary shall cease to be a Subsidiary Guarantor hereunder and shall have no further obligation or liability under its 55 Subsidiary Guarantee without the requirement of any further action by the Company, such Subsidiary or the Trustee: (a) if such Subsidiary Guarantor is no longer a subsidiary guarantor under the Credit Agreement, and if the Company shall deliver to the Trustee an Officer’s Certificate certifying to that effect as of the date of such Officer’s Certificate; or (b) upon a Legal Defeasance or satisfaction and discharge of this Indenture that complies with Sections 8.1, 8.2 and 8.4 or Section 8.5, as applicable. Upon any occurrence giving rise to a release of a Note Guarantee as specified above, the Trustee shall execute any documents reasonably required by the Company in order to evidence or effect such release, discharge and termination in respect of such Note Guarantee. Neither the Company nor any Subsidiary Guarantor shall be required to make a notation on the Notes to reflect any Note Guarantee or any such release, termination or discharge.

Appears in 1 contract

Samples: Indenture (Sealed Air Corp/De)

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