Release upon Sale. Upon any sale of any Guarantor permitted by this Agreement, such Guarantor (a) be released from its obligations as a Guarantor hereunder, (b) all Liens securing such Guaranty shall automatically be terminated and released and (c) the Administrative Agent will, at the expense of said Guarantor, execute and deliver such documents as are reasonably necessary to evidence said releases and terminations, following written request from the Borrower and receipt by the Administrative Agent of a certificate from the Borrower certifying no Default or Event of Default exists.
Release upon Sale. Upon any sale of any Guarantor permitted by this Agreement, and, if required hereunder, payment to the Administrative Agent, for the prorata benefit of the applicable Lenders, of the proceeds of such sale, such Guarantor shall (a) be released from its obligations as a Guarantor hereunder, (b) all Liens, if any, securing such Guarantee shall automatically be terminated and released and (c) the Administrative Agent will, at the expense of said Guarantor, execute and deliver such documents as are reasonably necessary to evidence said releases and terminations, following written request from the applicable Borrower and receipt by the Administrative Agent of a certificate from the applicable Borrower certifying no Default or Event of Default exists.
Release upon Sale. Upon any sale of a Guarantor (whether by disposition of Equity Interests, merger, disposition of all or substantially all of its assets or otherwise) not prohibited by this Agreement, such Guarantor shall automatically and without further action by any Lender or the Administrative Agent be released from its obligations under each Loan Document, including as a Guarantor hereunder, and the Administrative Agent will, at the expense of Borrower, execute and deliver such documents as are reasonably necessary to evidence said release. Borrower shall give written notice to the Administrative Agent promptly following any sale giving rise to a release pursuant to this Section 9.08.
Release upon Sale. Upon any sale by the Borrower of a Subsidiary permitted by this Agreement, such Subsidiary shall automatically and without further action by any Lender or the Agent be released from its obligations, if any, as a Guarantor hereunder.
Release upon Sale. Upon any sale by the Borrower or any of its Subsidiaries of any Guarantor owned by the Borrower and/or any of its Subsidiaries, in each case pursuant to a transaction permitted by this Agreement, such Guarantor shall automatically and without further action by any Lender or the Agent be released from its obligations as a Guarantor hereunder.
Release upon Sale. If any of the Collateral shall be sold, transferred or otherwise disposed of by any Grantor in a transaction permitted by the Facility Agreement, then the Security Trustee, at the request and sole expense of such Grantor, shall execute and deliver to such Grantor all releases or other documents provided to the Security Trustee and reasonably necessary or desirable for the release of the Liens created hereby on such Collateral. At the request and sole expense of the Borrower, a Grantor shall be released from its obligations hereunder in the event that all the capital stock of such Grantor shall be sold, transferred or otherwise disposed of in a transaction permitted by the Facility Agreement; provided that the Borrower shall have delivered notice to the Facility Agent and the Security Trustee pursuant to Section 2.03 of the Facility Agreement.
Release upon Sale. With respect to any Collateral or any Guarantor, in connection with a Disposition by any Loan Party of such Collateral (or in respect of any such Guarantor) in a transaction permitted under Section 7.13 of this Agreement (other than any such sale, transfer or other Disposition to Holdings, the Borrower or any Subsidiary Guarantor (it being understood and agreed that, in the case of a transfer among Loan Parties, the applicable Lien shall be released with respect to the transferor Loan Party to the extent such asset will be (substantially Uniti – Bridge Loan and Security Agreement contemporaneously therewith) pledged by the transferee Loan Party)), the Security Interest and other Liens in such Collateral created by this Agreement or any other Transaction Document, and any applicable Guaranty by such Guarantor, shall in each case be automatically released upon the consummation of any such sale, transfer or other Disposition. Upon such sale, transfer or other Disposition, the Administrative Agent shall (and the Lenders hereby irrevocably authorize and direct the Administrative Agent to), upon receipt of the related Net Proceeds thereof for prepayment of the Loans pursuant to this Agreement, (x) deliver to the Borrower (at the Borrower’s sole cost and expense), any evidence of release, satisfaction, discharge and/or termination agreements or similar instruments or filings reasonably requested by the Borrower and in form and substance reasonably satisfactory to the Administrative Agent to evidence in the public record such automatic release and (y) return any applicable Collateral to the Borrower, or any other Loan Party, as applicable; provided, that prior to delivery of any such evidence of release, satisfaction, discharge and/or termination from the Administrative Agent, the Borrower shall have delivered to the Administrative Agent a certificate executed by a Responsible Officer of the Borrower certifying that such release, satisfaction, discharge and/or termination, as applicable, is permitted under the Transaction Documents and this Section 2.13(a) (and the Lenders hereby authorize and direct the Administrative Agent to rely on such certificate in performing its obligations under this Section 2.13(a) and Section 7.13).
Release upon Sale. The warranty of assessed value and the obligation to make 990 special charge payments described in subsections G., H. and I. runs with the land and binds the 991 then owner of the Apartment Project, but binds only the then-current title holder of the 992 Apartment Project, and upon conveyance of the Apartment Project to a bona-fide third-party 993 successor, the obligations of the conveying party to make the special charge payments cease and, 994 except as set forth in subsection K., are assumed by the third party to which the Apartment 995 Project is conveyed, except for payment obligations that have already arisen as of the time of the 996 conveyance and are paid by the transferring owner on or before any such conveyance.
Release upon Sale. If any of the Collateral (i) shall be sold, transferred or otherwise disposed of by any Loan Party to a Person other than any of the Loan Parties in a transaction permitted by the First Lien Documents and Second Lien Documents or (ii) is owned or has been acquired by a Subsidiary that has been released from its Subsidiary Guarantee in accordance with the terms of the Indentures (including by virtue of the Guarantor becoming an Unrestricted Subsidiary), and from any other Guarantee of any Secured Obligations, then the Collateral Agent, at the request (pursuant to an Officers’ Certificate) and sole expense of such Loan Party, shall execute and deliver to such Loan Party all releases or other documents reasonably necessary or desirable for the release of the Liens created under the Collateral Documents on such Collateral.
Release upon Sale. In the event of any transfer(s) of Landlord's interest in the Project, the Building or the Premises, other than a transfer for security purposes only, Landlord, or Landlord's successors, shall be automatically relieved of any and all obligations and liabilities on the part of Landlord accruing hereunder from and after the date of such transfer (except that Landlord's liability with respect to the Security Deposit shall be governed by Section 18), it being intended hereby that the covenants and obligations contained in this Lease on the part of Landlord shall, subject to the aforesaid provisions, be binding on Landlord, its successors and assigns, only during and in respect of their respective successive periods of ownership.
