Release of Transaction Security. If the Security Agent, with the approval of the Majority Lenders, shall determine that all obligations the discharge of which is secured by the Security Documents have been full and finally discharged and none of the Lenders is under any commitment, obligation or liability (whether actual or contingent) to make advances or provide other financial accommodation to the Borrowers under this Agreement the Security Agent shall release all of the security then held by it, whereupon each of the Security Agent, the Agent, the Mandated Lead Arranger, the Lenders and the Obligors shall be released from its obligations hereunder or under the other Finance Documents (save for those which arose prior to such winding-up) and Kronos Denmark shall be released from its obligations under the Finance Documents.
Release of Transaction Security. If the Security Agent, with the approval of the Majority Lenders, shall determine that all obligations the discharge of which is secured by the Security Documents have been full and finally discharged and none of the Lenders is under any commitment, obligation or liability (whether actual or contingent) to make advances or provide other financial accommodation to the Borrowers under this Agreement the Security Agent shall release all of the security then held by it, whereupon each of the Security Agent, the Agent, the Mandated Lead Arranger, the Lenders and the Obligors shall be released from its obligations hereunder or under the other Finance Documents (save for those which arose prior to such winding-up) shall be released from its obligations under the Finance Documents.
Release of Transaction Security. If an Obligor disposes of any asset (including shares in any other member of the Group) to any person that is not a member of the Group in circumstances where it is expressly entitled to do so in accordance with this Agreement and there is no Default continuing, the Facility Agent shall, on the request and at the cost of the Borrower simultaneously with completion of that disposal, execute any documents necessary to release that asset from the Transaction Security created in favour of the Secured Parties.
Release of Transaction Security. If the Facility Agent, with the approval of the all of the Lenders and the Hedging Counterparty, shall determine that all the obligations of all the Obligors under the Finance Documents have been fully and finally discharged and that none of the Finance Parties is under any commitment, obligation or liability (whether actual or contingent) to make Loans or provide other financial accommodation under or pursuant to any Finance Document to any Obligor, it shall notify the Security Agent of such determination and approval. Upon such notification the Security Agent shall release, without recourse or warranty, all of the Transaction Security then held by it, whereupon each of the Security Agent, the Facility Agent, the other Finance Parties and the Obligors shall be released from its obligations under this Agreement (save for those which arose prior to such release).
Release of Transaction Security. The Security Agent may at any time, acting on instructions of the Bondholders, release any Transaction Security in accordance with the terms of the Transaction Security Documents.
Release of Transaction Security. The Finance Parties consent to the release by the Security Agent, on behalf of the Finance Parties, of any asset from the Transaction Security in order that such asset may be sold or otherwise disposed of pursuant to a Permitted Disposal provided that no such release shall become effective until the date of that sale or disposal and provided further that any release of Transaction Security in relation to an asset which is so disposed of where such disposal is permitted pursuant to paragraph (f) of the definition of Permitted Disposal shall only become effective on the date of prepayment of the Loans in accordance with the terms of the Parent Prepayment Letter.
Release of Transaction Security. Unless required by local law the circumstances in which the Transaction Security shall be released should not be dealt with in individual Security Documents but, if so required, shall, except to the extent required by local law, be the same as those set out in the Intercreditor Agreement. 240 Project Unicorn - Facilities Agreement SCHEDULE 11 Form of Increase Confirmation - Cancelled Commitments To: [ ] as Agent, [ ] as Security Agent and [●] as Company, for and on behalf of each Obligor From: [the Increase Lender] (the Increase Lender) Dated: [●] - US$[●] Senior Facilities Agreement dated [●] 2019 (as amended and/or supplemented from time to time, the Facilities Agreement)
1. We refer to the Facilities Agreement and to the Intercreditor Agreement (as defined in the Facilities Agreement). This agreement (the Agreement) shall take effect as an Increase Confirmation – Cancelled Commitments for the purpose of the Facilities Agreement and as a Creditor/Creditor Representative Accession Undertaking for the purposes of the Intercreditor Agreement (and as defined in the Intercreditor Agreement). Terms defined in or construed for the purposes of the Facilities Agreement have the same meaning in this Agreement unless given a different meaning in this Agreement.
2. We refer to clause 2.2 ( Increase - Cancelled Commitments) of the Facilities Agreement.
3. The Increase Lender agrees to assume and will assume all of the obligations corresponding to the Commitment specified in the Schedule (the Relevant Commitment) as if it was an Original Initial Term Facility Lender under the Facilities Agreement.
4. The proposed date on which such assumption in relation to the Increase Lender and the Relevant Commitment is to take effect (the Increase Date) is [ ].
5. On the Increase Date, the Increase Lender becomes:
(a) party to the Facilities Agreement as a Lender, and becomes a Lender for the purposes of the each other Finance Document; and
(b) party to the Intercreditor Agreement as a Senior Lender (as defined in the Intercreditor Agreement).
6. The Facility Office and address, fax number and attention details for notices to the Increase Lender for the purposes of clause 34.2 ( Addresses) of the Facilities Agreement are set out in the Schedule.
7. The Increase Lender expressly acknowledges the limitations on the Lenders' obligations referred to in paragraph (g) of clause 2.2 ( Increase - Cancelled Commitments) of the Facilities Agreement.
8. The Increase Lender confirms that it ...
Release of Transaction Security. Provided that such release is expressly permitted pursuant to the terms of the Stream Documents and the Senior Finance Documents:
(a) the Company may request from time to time that certain assets and shares subject to the Transaction Security (such assets, the “Relevant Assets”) are released from its scope; and
Release of Transaction Security. Documents If the Security Agent, with the approval of the Agent, determines that: (a) all of the obligations secured by the Transaction Security Documents have been fully and finally discharged; and (b) no Finance Party is under any commitment, obligation or liability (actual or contingent) to make advances or provide other financial accommodation to any Obligor pursuant to the Finance Documents, then:
Release of Transaction Security. The Security Agent may at any time release any Transaction Security in accordance with the terms of the Transaction Security Documents and the Security Agent Agreement. For the avoidance of doubt, any Transaction Security will always be released pro rata between the Secured Creditors and the remaining Transaction Security will continue to rank pari passu between the Secured Creditors as set forth in the Transaction Security Documents and the Security Agent Agreement.
