Common use of Resignation of a Guarantor Clause in Contracts

Resignation of a Guarantor. (a) The Company may request that a Guarantor (other than the Parent) ceases to be a Guarantor by giving to the Facility Agent a duly completed Resignation Request. (b) The Facility Agent must accept a Resignation Request and notify the Company and the Lenders of its acceptance if: (i) a breach of Clause 21.7 (Financial Indebtedness) would not result from the acceptance of the Resignation Request; and (ii) no demand for the payment of any money has been made in writing on that Guarantor which is outstanding on the date the Facility Agent receives the duly completed Resignation Request. (c) The Guarantor will cease to be a Guarantor when the Facility Agent gives the notification referred to in paragraph (b) above. (d) A Guarantor may also cease to be a Guarantor in any other manner approved by the Majority Lenders.

Resignation of a Guarantor. (a) The Company may request that a Guarantor (other than the Parent) ceases to be a Guarantor by giving to the Facility Agent a duly completed Resignation Request. (b) The Facility Agent must accept a Resignation Request and notify the Company and the Lenders of its acceptance if: (i) all the Lenders have consented to the Resignation Request; (ii) it is not aware that a breach of Clause 21.7 (Financial Indebtedness) Default is outstanding or would not result from the acceptance of the Resignation Request; and (iiiii) no demand for the payment of any money has been made in writing on amount owed by that Guarantor which under this Agreement is outstanding on the date the Facility Agent receives the duly completed Resignation Requeststill outstanding. (c) The Guarantor will cease to be a Guarantor when the Facility Agent gives the notification referred to in paragraph (b) above. (d) A Guarantor may also cease to be a Guarantor in any other manner approved by all the Majority Lenders.

Resignation of a Guarantor. (a) The Company Obligors’ Agent may request that a Guarantor (other than the Parent) ceases to be a Guarantor by giving to the Facility Agent a duly completed Resignation Request. (b) The Facility Agent must accept a Resignation Request and notify the Company Obligors’ Agent and the Lenders of its acceptance if: (i) the Lenders have consented to the Resignation Request; (ii) it is not aware that a breach of Clause 21.7 (Financial Indebtedness) Default is outstanding or would not result from the acceptance of the Resignation Request; and (iiiii) no demand for the payment of any money has been made in writing on amount owed by that Guarantor which under this Agreement is outstanding on the date the Facility Agent receives the duly completed Resignation Requeststill outstanding. (c) The Guarantor will cease to be a Guarantor when the Facility Agent gives the notification referred to in paragraph (b) above. (d) A Guarantor may also cease to be a Guarantor in any other manner approved by the Majority Lenders.

Resignation of a Guarantor. (a) The Company Obligors' Agent may request that a Guarantor (other than the Parent) ceases to be a Guarantor by giving to the Facility Agent a duly completed Resignation Request. (b) The Facility Agent must accept a Resignation Request and notify the Company Obligors' Agent and the Lenders of its acceptance if: (i) all Lenders have consented to the Resignation Request; (ii) it is not aware that a breach of Clause 21.7 (Financial Indebtedness) Default is outstanding or would not result from the acceptance of the Resignation Request; and (iiiii) no demand for the payment of any money has been made in writing on amount owed by that Guarantor which under this Agreement is outstanding on the date the Facility Agent receives the duly completed Resignation Requeststill outstanding. (c) The Guarantor will cease to be a Guarantor when the Facility Agent gives the notification referred to in paragraph (b) above. (d) A Guarantor may also cease to be a Guarantor in any other manner approved by all the Majority Lenders.

Resignation of a Guarantor. (a) The Company may request that a Guarantor (other than the Parent) ceases to be a Guarantor by giving to the Facility Agent a duly completed Resignation Request. (b) The Facility Agent must accept a Resignation Request and notify the Company and the Lenders of its acceptance if: (i) all the Lenders have consented to the Resignation Request; (ii) it is not aware that a breach of Clause 21.7 (Financial Indebtedness) Default is outstanding or would not result from the acceptance of the Resignation Request; and (iiiii) no demand for the payment of any money has been made in writing on amount owed by that Guarantor which under this Agreement is outstanding on the date the Facility Agent receives the duly completed Resignation Requeststill outstanding. (c) The Guarantor will cease to be a Guarantor when the Facility Agent gives the notification referred to in paragraph (b) above. (d) A Guarantor may also cease to be a Guarantor in any other manner approved by the Majority Lenders.