Resignation and release of security on disposal. (a) If a Borrower or Guarantor is or is proposed to be the subject of a Third Party Disposal then:
(i) where that Borrower or Guarantor created Security pursuant to any Finance Document over any of its assets or business in favour of the Security Agent, or Security pursuant to any Finance Document in favour of the Security Agent was created over the shares (or equivalent) of that Borrower or Guarantor, the Security Agent may at the cost and request of the Company, release those assets, business or shares (or equivalent) and issue certificates of non-crystallisation;
(ii) the resignation of that Borrower or Guarantor and related release of Security pursuant to any Finance Document referred to in paragraph (i) above shall not become effective until the date of that disposal; and
(iii) if the disposal of that Borrower or Guarantor is not made, the Resignation Letter of that Borrower or Guarantor and the related release of Security referred to in paragraph (i) above shall have no effect and the obligations of the Borrower or Guarantor and the Security pursuant to any Finance Document created or intended to be created by or over that Borrower or Guarantor shall continue in full force and effect.
Resignation and release of security on disposal. (a) If a Borrower or Guarantor is or is proposed to be the subject of a Third Party Disposal then:
(i) where that Borrower or Guarantor created Transaction Security over any of its assets or business in favour of the Security Agent, or Transaction Security in favour of the Security Agent was created over the shares (or equivalent) of that Borrower or Guarantor, the Security Agent shall, subject to paragraph (d) below, at the cost and request of the Company, release those assets, business or shares (or equivalent) and issue (where applicable) certificates of non-crystallisation;
(ii) the Security Agent shall, on behalf of all the Finance Parties, waive all claims (actual or contingent) against that Borrower or Guarantor under the Finance Documents;
(iii) the resignation of that Borrower or Guarantor and related release of Transaction Security and waiver of claims referred to in paragraphs (i) and (ii) above shall become effective on the date of that disposal; and
(iv) if the disposal of that Borrower or Guarantor is not made, the Resignation Letter of that Borrower or Guarantor and the related release of Transaction Security referred to in paragraph (a) above shall have no effect and the obligations of the Borrower or Guarantor and the Transaction Security created or intended to be created by or over that Borrower or Guarantor shall continue in full force and effect.
(b) If an Obligor disposes of any asset as expressly permitted by and in accordance with the terms of this Agreement and such asset is the subject of Transaction Security in favour of the Security Agent, the Security Agent shall, subject to paragraph (d) below, at the cost and request of the Company, immediately release those assets and issue certificates of non-crystallisation.
(c) If a Guarantor resigns as permitted by and in accordance with the terms of this Agreement and such Guarantor has granted (or is the subject of) Transaction Security in favour of the Security Agent, the Security Agent shall, subject to paragraph (d) below, at the cost and request of the Company, release that Transaction Security and issue (where applicable) certificates of non-crystallisation.
(d) If all Secured Liabilities (as defined in each applicable Swedish Security Document) have not been discharged in full the release of any Transaction Security created under a Swedish Security Document shall at all times be subject to the written express consent of the Security Agent.
Resignation and release of security on disposal. If a Borrower or Guarantor is or is proposed to be the subject of a Third Party Disposal then:
(a) where that Borrower or Guarantor created Transaction Security over any of its assets or business in favour of the Security Agent, or Transaction Security in favour of the Security Agent was created over the shares (or equivalent) of that Borrower or Guarantor, the Security Agent may, at the cost and request of the Company, release those assets, business or shares (or equivalent) and issue certificates of non-crystallisation; and
(b) any resignation of that Borrower or Guarantor and related release of Transaction Security referred to in paragraph (a) above shall become effective only on the making of that disposal.
Resignation and release of security on disposal. If a Borrower or Guarantor is or is proposed to be the subject of a Third Party Disposal then:
(a) where that Obligor created Transaction Security over any of its assets or business in favour of the Security Agent, or Transaction Security in favour of the Security Agent was created over the shares (or equivalent) of that Obligor, the Security Agent may, at the cost and request of the Parent, release those assets, business or shares (or equivalent) and issue certificates of non-crystallisation;
(b) the resignation of that Obligor and related release of Transaction Security referred to in paragraph (a) above shall not become effective until the date of that disposal; and
(c) if the disposal of that Obligor is not made, the Resignation Letter of that Obligor and the related release of Transaction Security referred to in paragraph (a) above shall have no effect and the obligations of the Obligor and the Transaction Security created or intended to be created by or over that Obligor shall continue in such force and effect as if that release had not been effected.
Resignation and release of security on disposal. If a Guarantor is or is proposed to be the subject of a Third Party Disposal then:
(a) where that Guarantor created Transaction Security over any of its assets or business in favour of the Security Agent, or Transaction Security in favour of the Security Agent was created over the shares (or equivalent) of that Guarantor, the Security Agent may, at the cost and request of the Borrower, release those assets, business or shares (or equivalent) and issue certificates of non-crystallisation; and
(b) any resignation of that Guarantor and related release of Transaction Security referred to in paragraph (a) above shall become effective only on the making of that disposal.
SECTION 10 THE FINANCE PARTIES
Resignation and release of security on disposal. If a Borrower or Guarantor is or is proposed to be the subject of a Third Party Disposal then:
Resignation and release of security on disposal. If a Borrower or Guarantor is or is proposed to be the subject of a Third Party Disposal or is otherwise ceasing to be a Borrower under Clause 30.3 (Resignation of a Borrower) or a Guarantor under Clause 30.5 (Resignation of a Guarantor) (as the case may be) then:
(a) where that Borrower or Guarantor created Transaction Security over any of its assets or business in favour of the Security Agent, or Transaction Security in favour of the Security Agent was created over the shares (or equivalent) of that Borrower or Guarantor, the Security Agent shall, at the cost and request of the Company, release those assets, business or shares (or equivalent) and (where requested to do so by the Company) issue certificates of non-crystallisation; and
(b) where the Borrower or Guarantor is or is proposed to be the subject of a Third Party Disposal, any resignation of that Borrower or Guarantor and related release of Transaction Security referred to in paragraph (a) above shall become effective only on the making of that disposal.
Resignation and release of security on disposal. Without prejudice to the provisions of the Intercreditor Agreement, if a Guarantor is or is proposed to be the subject of a Third Party Disposal or a Permitted Reorganisation then:
(a) where that Guarantor created Transaction Security over any of its assets or business (including the assets or business of any of its Subsidiaries that is to cease to be a member of the Restricted Group as a result of the disposal in favour of the Security Trustee), or Transaction Security in favour of the Security Trustee was created over the shares (or equivalent) of that Guarantor (or any of its Subsidiaries that is to cease to be a member of the Restricted Group as a result of the disposal), the Security Trustee may, at the cost and request of the Company, release those assets, business or shares (or equivalent) and issue certificates of non-crystallisation in accordance with the Intercreditor Agreement;
(b) the resignation of that Guarantor and related release of Transaction Security referred to in paragraph (a) above shall not become effective until the date of that disposal or Permitted Reorganisation, as applicable; and
Resignation and release of security on disposal. If a Borrower or Guarantor is or is proposed to be the subject of a Third Party Disposal then:-
28.7.1 where that Borrower or Guarantor created Transaction Security over any of its assets or business in favour of the Security Agent, or Transaction Security in favour of the Security Agent was created over the shares (or equivalent) of that Borrower or Guarantor, the Security Agent shall, at the cost and request of the Company, release those assets, business or shares (or equivalent) and issue certificates of non-crystallisation;
28.7.2 the resignation of that Borrower or Guarantor and related release of Transaction Security referred to in Clause 28.7.1 above shall not become effective until the date of that disposal; and
28.7.3 if the disposal of that Borrower or Guarantor is not made, the Resignation Letter of that Borrower or Guarantor and the related release of Transaction Security referred to in Clause 28.7.1 above shall have no effect and the obligations of the Borrower or Guarantor and the Transaction Security created or intended to be created by or over that Borrower or Guarantor shall continue in such force and effect as if that release had not been effected.
Resignation and release of security on disposal. If a Security Provider is or is proposed to be the subject of a Third Party Disposal then:
26.4.1 where the Security Provider created Transaction Security over any of its assets or business in favour of the Security Agent or, as the case may be, the Secured Parties, or Transaction Security in favour of the Security Agent or, as the case may be, the Secured Parties was created over the shares (or equivalent) of the Security Provider, the Security Agent or, as the case may be, the Secured Parties may, at the cost and request of the Borrower, release those assets, business or shares (or equivalent) and issue certificates of non-crystallisation;
26.4.2 the resignation of the Security Provider and related release of Transaction Security referred to in clause 26.4.1 shall not become effective until the date of that disposal; and
26.4.3 if the disposal of the Security Provider is not made, the Resignation Letter of the Security Provider and the related release of Transaction Security referred to in clause 26.4.1 shall have no effect and the obligations of the Security Provider and the Transaction Security created or intended to be created by or over the Security Provider shall continue in full force and effect.