Release or Subordination of Liens. The Collateral Trustee will not release or subordinate any Lien of the Collateral Trustee or consent to the release or subordination of any Lien of the Collateral Trustee, except: (a) as directed by an Act of Parity Lien Debtholders accompanied by an Officers’ Certificate to the effect that the release or subordination was permitted by each applicable Parity Lien Document and otherwise setting forth the requirements of Section 4.1(b)(1) and 4.1(b)(2); (b) as required by Article 4; (c) to release or subordinate Liens on Collateral to the extent permitted by each applicable Parity Lien Document; provided that the Collateral Trustee receives an Officers’ Certificate confirming the foregoing; (d) as ordered pursuant to applicable law under a final and nonappealable order or judgment of a court of competent jurisdiction; or (e) for the subordination of the Trust Estate and the Parity Liens to the extent required by the Intercreditor Agreement; provided that the Collateral Trustee receives an Officers’ Certificate confirming the foregoing.
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Samples: Collateral Trust Agreement (Sandridge Energy Inc), Collateral Trust Agreement (Linn Energy, LLC), Collateral Trust Agreement (Sandridge Energy Inc)
Release or Subordination of Liens. The Collateral Trustee will not release or subordinate any Lien of the Collateral Trustee or consent to the release or subordination of any Lien of the Collateral Trustee, except:
(a) as directed by an Act of Parity Lien Debtholders accompanied by an Officers’ Certificate to the effect that the release or subordination was permitted by each applicable Parity Lien Document and otherwise setting forth the requirements of Section 4.1(b)(14.1(b)(i) and 4.1(b)(24.1(b)(ii);
(b) as required by Article 4;
(c) to release or subordinate Liens on Collateral to the extent permitted by each applicable Parity Lien Document; provided that the Collateral Trustee receives an Officers’ Certificate confirming the foregoing;; or
(d) as ordered pursuant to applicable law under a final and nonappealable order or judgment of a court of competent jurisdiction; or
(e) for the subordination of the Trust Estate and the Parity Liens to the extent required by the Intercreditor Agreement; provided that the Collateral Trustee receives an Officers’ Certificate confirming the foregoing.
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Samples: Collateral Trust Agreement and Security and Pledge Agreement (Calumet Specialty Products Partners, L.P.), Collateral Trust Agreement (Calumet Specialty Products Partners, L.P.), Collateral Trust Agreement (Calumet Specialty Products Partners, L.P.)
Release or Subordination of Liens. The Collateral Trustee will not release or subordinate any Lien of the Collateral Trustee or consent to the release or subordination of any Lien of the Collateral Trustee, except:
(a) as directed by an Act of Parity Third Lien Debtholders accompanied by an Officers’ Certificate to the effect that the release or subordination was permitted by each applicable Parity Third Lien Document and otherwise setting forth the requirements of Section 4.1(b)(1) and 4.1(b)(2);
(b) as required by Article 4;
(c) to release or subordinate Liens on Collateral to the extent permitted by each applicable Parity Third Lien Document; provided that the Collateral Trustee receives an Officers’ Certificate confirming the foregoing;
(d) as ordered pursuant to applicable law under a final and nonappealable order or judgment of a court of competent jurisdiction; or
(e) for the subordination of the Trust Estate and the Parity Third Liens to the extent required by the Intercreditor Agreement; provided that the Collateral Trustee receives an Officers’ Certificate confirming the foregoing.
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Release or Subordination of Liens. The Collateral Trustee will not release or subordinate any Lien of the Collateral Trustee or consent to the release or subordination of any Lien of the Collateral Trustee, except:
(a) as directed by an Act of Parity Lien Debtholders accompanied by an Officers’ Certificate to the effect that the release or subordination was permitted by each applicable Parity Lien Document and otherwise setting forth the requirements of Section 4.1(b)(1) and 4.1(b)(2);
(b) as required by Article 4;
(c) to release or subordinate Liens on Collateral to the extent permitted by each applicable Parity Lien Document; provided that the Collateral Trustee receives an Officers’ Certificate confirming the foregoingforegoing and otherwise setting forth the requirements of Section 4.1(b)(1) and 4.1(b)(2);
(d) as ordered pursuant to applicable law under a final and nonappealable order or judgment of a court of competent jurisdiction; or
(e) for the subordination of the Trust Estate and the Parity Liens to the extent required by the Intercreditor Agreement; provided that the Collateral Trustee receives an Officers’ Certificate confirming the foregoing.
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