Release under Certain Circumstances Sample Clauses
The 'Release under Certain Circumstances' clause defines specific situations in which one party is freed from certain obligations or liabilities under the agreement. Typically, this clause outlines particular events—such as force majeure, fulfillment of contractual duties, or mutual agreement—where a release is triggered, and may detail the process for invoking the release. Its core practical function is to provide a clear mechanism for ending or limiting responsibility in predefined scenarios, thereby reducing uncertainty and managing risk for the parties involved.
Release under Certain Circumstances. No transfer or other occurrence referred to above in this Article IX shall release the transferring party of any obligations under this Agreement (and such transferring party shall remain jointly and severally liable hereunder with such transferee corporation) unless the other Partner shall consent thereto, which consent may not be unreasonably withheld.
Release under Certain Circumstances. The New Subsidiary Guarantor shall be released from its obligations under its Subsidiary Guarantee under the circumstances set forth in Section 13.04 of the Indenture.
Release under Certain Circumstances. (a) Upon consummation of the Lender's acquisition of all of the Stations other than the S.F. Station and the Dallas AM Station pursuant to the SBS Acquisition Agreements (including for purposes hereof Stations that are acquired directly or through the acquisition of Capital Stock) AND repayment in full of the Obligations that mature and are due and payable on the Initial SBS Acquisition Date, each of New World, RC (Alameda) and each Guarantor (i) shall automatically and without further action be released from all of its Obligations as a Borrower or Guarantor, as the case may be, under this Agreement and the other Loan Documents with respect to Obligations that mature and are due and payable on the Business Day following the Initial SBS Acquisition Date (whether or not they are then paid), but (ii) shall remain as a Grantor and as a Borrower (in the case of RC Alameda) or Guarantor (in the case of New World and the other Guarantors) hereunder and thereunder with respect to all other Obligations.
(b) Upon repayment in full of the Obligations that mature and are due and payable on the Business Day following the Initial SBS Acquisition Date RCI shall automatically and without further action be released from all of its Obligations under this Agreement and the other Loan Documents and shall thereafter no longer be a Borrower, Guarantor or Grantor hereunder or thereunder.