Common use of Releases Upon Other Asset Sales Clause in Contracts

Releases Upon Other Asset Sales. If at any time a Credit Party sells, transfers, leases, conveys, substitutes, converts, abandons or otherwise disposes of any item of Collateral in a transaction (i) not deemed to be an Asset Sale under the Indenture as set forth in clauses (a) through (f), inclusive, and (h) of the definition of "Asset Sale" therein or (ii) otherwise permitted under the Indenture and for which such Credit Party has complied with all requirements in respect thereof (each such transaction listed in clause (i) and (ii) hereinabove, a "Permitted Sale"), any Lien on such item of Collateral shall be automatically released and, if a formal, documented termination of release shall be necessary, the Trustee shall, upon delivery to it of an Issuer Order requesting such release (which shall state that such release is authorized under this Section 4.12(b)), promptly execute and deliver to such Credit Party upon the occurrence of such Permitted Sale such termination or release statements and such other documentation as shall be specified by such Credit Party in such Issuer Order to effect the termination and release of the Liens on such item of Collateral which is the subject of the Permitted Sale.

Releases Upon Other Asset Sales. If at any time a Credit Party sells, transfers, leases, conveys, substitutes, converts, abandons or otherwise disposes of any item of Collateral in a transaction (i) not deemed to be an Asset Sale under the Indenture as set forth in clauses (a) through (f), inclusive, and (h) through (j), inclusive, of the definition of "“Asset Sale" ” therein or (ii) otherwise permitted under the Indenture and for which such Credit Party has complied with all requirements in respect thereof (each such transaction listed in clause (i) and (ii) hereinabove, a "“Permitted Sale"”), any Lien on such item of Collateral shall be automatically released and, if a formal, documented termination of release shall be necessary, the Trustee shall, upon delivery to it of an Issuer Order requesting such release (which shall state that such release is authorized under this Section 4.12(b)), promptly execute and deliver to such Credit Party upon the occurrence of such Permitted Sale such termination or release statements and such other documentation as shall be specified by such Credit Party in such Issuer Order to effect the termination and release of the Liens on such item of Collateral which is the subject of the Permitted Sale.

Releases Upon Other Asset Sales. If at any time a Credit Party sells, transfers, leases, conveys, substitutes, converts, abandons or otherwise disposes of any item of Collateral in a transaction (i) not deemed to be an Asset Sale under the Indenture as set forth in clauses (a) through (f), inclusive, and (h) of the definition of "Asset Sale" therein or (ii) otherwise permitted under the Indenture and for which such Credit Party has complied with all requirements in respect thereof (each such transaction listed in clause (i) and (ii) hereinabove, Global Security Agreement a "Permitted Sale"), any Lien on such item of Collateral shall be automatically released and, if a formal, documented termination of release shall be necessary, the Trustee shall, upon delivery to it of an Issuer Order requesting such release (which shall state that such release is authorized under this Section 4.12(b)), promptly execute and deliver to such Credit Party upon the occurrence of such Permitted Sale such termination or release statements and such other documentation as shall be specified by such Credit Party in such Issuer Order to effect the termination and release of the Liens on such item of Collateral which is the subject of the Permitted Sale.