Common use of Release of the Note Guarantees Clause in Contracts

Release of the Note Guarantees. (a) The Note Guarantee of a Guarantor will terminate and release: (1) upon a sale or other disposition (including by way of consolidation or merger) of the Capital Stock of the relevant Guarantor (whether by direct sale or sale of a holding company) or the sale or disposition of all or substantially all the assets of the Guarantor (other than to the Parent or a Restricted Subsidiary) otherwise permitted by this Indenture; (2) in accordance with the provisions of the Intercreditor Agreement, the ABL Intercreditor Agreement or any Additional Intercreditor Agreement; (3) upon defeasance or discharge of the Notes, as provided in Article VIII; (4) as described under Article IX; (5) as described under Section 4.08(b); (6) as a result of a transaction permitted by Section 5.01(b); or (7) [Reserved]. Upon the request of the Parent, the Trustee shall take all necessary actions to effectuate any release of a Note Guarantee in accordance with these provisions, subject to customary protections and indemnifications. Each of the releases set forth above shall be effected by the Trustee without the consent of the Holders or any other action or consent on the part of the Trustee.

Release of the Note Guarantees. (a) The Note Guarantee of a Guarantor will terminate and release: (1) upon a sale or other disposition (including by way of consolidation or merger) of the Capital Stock of the relevant Guarantor (whether by direct sale or sale of a holding company) or the sale or disposition of all or substantially all the assets of the Guarantor (other than to the Parent or a Restricted Subsidiary) otherwise permitted by this Indenture;; ​ (2) in accordance with the provisions of the Intercreditor Agreement, the ABL Intercreditor Agreement or any Additional Intercreditor Agreement;; ​ (3) upon defeasance or discharge of the Notes, as provided in Article VIII;; ​ (4) as described under Article IX;; ​ (5) as described under Section 4.08(b);; ​ (6) as a result of a transaction permitted by Section 5.01(b); oror ​ (7) [Reserved]. ​ Upon the request of the Parent, the Trustee shall take all necessary actions to effectuate any release of a Note Guarantee in accordance with these provisions, subject to customary protections and indemnifications. Each of the releases set forth above shall be effected by the Trustee without the consent of the Holders or any other action or consent on the part of the Trustee.. ​