Common use of Release upon Sale Clause in Contracts

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 of a Guarantor (whether by disposition of Equity Interests, merger, disposition of all or substantially all of its assets or otherwise) not prohibited permitted 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 Guarantor (whether by disposition of Equity Interests, merger, disposition of all or substantially all of its assets or otherwise) not prohibited permitted 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, hereunder and the Administrative Agent will, at the expense of Borrowersaid Guarantor, 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.