Common use of Releases of Guarantees Clause in Contracts

Releases of Guarantees. (a) In the event of a disposition of all the Equity Interests in a Subsidiary Guarantor to a Person other than the Administrative Borrower or an Affiliate of the Administrative Borrower in a transaction not prohibited by any covenant contained in this Agreement, the Administrative Agent is hereby directed and authorized to take such action and to execute such documents as the Administrative Borrower may reasonably request, at the Administrative Borrower’s sole expense, to evidence or effect the release of the Guarantee by such Subsidiary Guarantor under the Subsidiary Guaranty Agreement. (b) Without limiting the provisions of Section 10.5, the Administrative Borrower shall reimburse the Administrative Agent for all costs and expenses, including attorney’s fees and disbursements, incurred by it in connection with any action contemplated by this Section 10.15.

Releases of Guarantees. (a) In the event of (i) a disposition of all the Equity Interests in a Subsidiary Guarantor to a Person other than the Administrative Borrower or an Affiliate of the Administrative Borrower in a transaction not prohibited by any covenant contained in this Agreement, or (ii) any Subsidiary Guarantor no longer satisfying the requirements contained in the definition of Material Domestic Subsidiary, the Administrative Agent is hereby directed and authorized to take such action and to execute such documents as the Administrative Borrower may reasonably request, at the Administrative Borrower’s sole expense, to evidence or effect the release of the Guarantee by such Subsidiary Guarantor under the Subsidiary Guaranty AgreementGuaranty. (b) Without limiting the provisions of Section 10.59.05, the Administrative Borrower shall reimburse the Administrative Agent for all costs and expenses, including reasonable attorney’s fees and disbursements, incurred by it in connection with any action contemplated by this Section 10.159.15.

Releases of Guarantees. (a) In the event of a disposition of all the Equity Interests in a Subsidiary Guarantor Loan Party to a Person other than the Administrative Borrower or an Affiliate of the Administrative Borrower in a transaction not prohibited by any covenant contained in this Agreement, the Administrative Agent is hereby directed and authorized to take such action and to execute such documents as the Administrative Borrower may reasonably request, at the Administrative Borrower’s 's sole expense, to evidence or effect the release of the Guarantee by such Subsidiary Guarantor Loan Party under the Subsidiary Guaranty Agreement. (b) Without limiting the provisions of Section 10.59.05, the Administrative Borrower shall reimburse the Administrative Agent for all costs and expenses, including attorney’s 's fees and disbursements, incurred by it in connection with any action contemplated by this Section 10.159.15.