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.
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Samples: Agreement (Marvel Enterprises Inc)
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 Bank or the either Agent be released from its obligations, if any, as a Guarantor hereunder.
Appears in 1 contract
Samples: Assignment and Assumption Agreement (United Auto Group Inc)
Release upon Sale. Upon any sale by the Borrower of a Subsidiary permitted by and in compliance with this Agreement, such Subsidiary shall automatically and without further action by any Lender Bank or the Agent be released from its obligations, if any, as a Guarantor hereunder.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Bellwether Exploration Co)
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 obligationsObligations, if any, as a Guarantor hereunder.
Appears in 1 contract
