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 Company) ceases to be a Guarantor by delivering to the Agent a Resignation Letter. (b) The Agent shall accept a Resignation Letter and notify the Company and the Lenders of its acceptance if: (i) that Obligor is the subject of a disposal, directly or indirectly, to a person which is not a member of the Group or the Lenders have consented to that Obligor ceasing to be a Guarantor; (ii) no Default is continuing or would result from the acceptance of the Resignation Letter (and the Company has confirmed this is the case); and (iii) no demand has been made on that Guarantor in respect of which a payment is due under Clause 21.1 (Guarantee and indemnity), whereupon that company shall cease to be a Guarantor and shall have no further rights or obligations under the Finance Documents.

Resignation of a Guarantor. (a) The Company may request that a Guarantor (other than the Company) ceases to be a Guarantor by delivering to the Agent a Resignation Letter. (b) The Agent shall accept a Resignation Letter and notify the Company and the Lenders of its acceptance if: (i) that Obligor is the subject of a disposal, directly or indirectly, to a person which is not a member of the Group or the Lenders have consented to that Obligor ceasing to be a Guarantor; (ii) no Default is continuing or would result from the acceptance of the Resignation Letter (and the Company has confirmed this is the case); (ii) all the Lenders have consented to the Company’s request; and (iii) where the Guarantor is also a Borrower, it is under no demand actual or contingent obligations as a Borrower and has been made on that Guarantor in respect of which resigned and ceased to be a payment is due Borrower under Clause 21.1 26.4 (Guarantee and indemnityResignation of a Borrower), whereupon at which time that company shall cease to be a Guarantor and shall have no further rights or obligations under the Finance Documents.

Resignation of a Guarantor. (a) The Company may request that a Guarantor (other than the Company) ceases to be a Guarantor by delivering to the Agent a Resignation Letter. (b) The Agent shall accept a Resignation Letter and notify the Company and the Lenders of its acceptance if: (i) that Obligor is the subject of a disposal, directly or indirectly, to a person which is not a member of the Group or the Lenders have consented to that Obligor ceasing to be a Guarantor; (ii) no Default is continuing or would result from the acceptance of the Resignation Letter (and the Company has confirmed this is the case); and; (ii) all the Lenders have consented to the Company’s request; (iii) no demand has been made on that Guarantor in respect of which a payment is due under Clause 21.1 (Guarantee and indemnity), whereupon that company shall cease to be a from the Guarantor and shall have no further rights or obligations under the Finance Documents; and (iv) where that Guarantor is also a Borrower, it has resigned as a Borrower in accordance with Clause 25.3 (Resignation of a Borrower).

Resignation of a Guarantor. (a) The 28.5.1 With the prior written consent of the Lender, the Company may request that a Guarantor (other than the Company) ceases to be a Guarantor by delivering to the Agent Lender a Resignation Letter. (b) 28.5.2 The Agent Lender shall accept a Resignation Letter and notify the Company and the Lenders of its acceptance if:if:- (i) that Obligor is the subject of a disposal, directly or indirectly, to a person which is not a member of the Group or the Lenders have consented to that Obligor ceasing to be a Guarantor; (iia) no Default is continuing or would result from the acceptance of the Resignation Letter (and the Company has confirmed this is the case); and; (iiib) no demand has been made on that Guarantor in respect of which a payment is due from the Guarantor under Clause 21.1 (Guarantee and indemnityIndemnity); and (c) where the Guarantor is also a Borrower, whereupon that company shall cease it is under no actual or contingent obligations as a Borrower and has resigned and ceased to be a Guarantor and shall have no further rights or obligations Borrower under the Finance DocumentsClause 28.3 (Resignation of a Borrower).

Resignation of a Guarantor. (a) 24.6.1 The Company may request that a Guarantor (other than the Company) ceases to be a Guarantor by delivering to the Agent a Resignation Letter. (b) 24.6.2 The Agent shall accept a Resignation Letter and notify the Company and the Lenders of its acceptance if: (i) that Obligor is the subject of a disposal, directly or indirectly, to a person which is not a member of the Group or the Lenders have consented to that Obligor ceasing to be a Guarantor; (iiA) no Default is continuing or would result from the acceptance of the Resignation Letter (and the Company has confirmed this is the case); and; (iiiB) no demand has been made on that Guarantor in respect of which a payment is due from the Guarantor under Clause 21.1 17 (Guarantee and indemnity); (C) where the Guarantor is also a Borrower, whereupon that company shall cease it is under no actual or contingent obligations as a Borrower and has resigned and ceased to be a Borrower under Clause 24.3 (Resignation of a Borrower); and (D) the Company is in compliance with Clause 21.8 (Guarantor and shall have no further rights or obligations under the Finance Documentscover).

Resignation of a Guarantor. (a) The Company may request that a Guarantor (other than the Company) ceases to be a Guarantor by delivering to the Agent a Resignation Letter. (b) The Agent shall accept a Resignation Letter and notify the Company and the Lenders of its acceptance if: (i) that Obligor is the subject of a disposal, directly or indirectly, to a person which is not a member of the Group or the Lenders have consented to that Obligor ceasing to be a Guarantor; (ii) no Default is continuing or would result from the acceptance of the Resignation Letter (and the Company has confirmed this is the case); (ii) all the Lenders have consented to the Company's request; and (iii) where the Guarantor is also a Borrower, it is under no demand actual or contingent obligations as a Borrower and has been made on that Guarantor in respect of which resigned and ceased to be a payment is due Borrower under Clause 21.1 25.3 (Guarantee and indemnityResignation of a Borrower), whereupon at which time that company shall cease to be a Guarantor and shall have no further rights or obligations under the Finance Documents.

Resignation of a Guarantor. (a) The Company may request that a Guarantor (other than the Company) ceases to be a Guarantor by delivering to the Agent a Resignation Letter. (b) The Agent shall accept a Resignation Letter and notify the Company and the Lenders of its acceptance if: (i) that Obligor is the subject of a disposal, directly or indirectly, to a person which is not a member of the Group or the Lenders have consented to that Obligor ceasing to be a Guarantor; (ii) no Default is continuing or would result from the acceptance of the Resignation Letter (and the Company has confirmed this is the case); (ii) all the Lenders have consented to the Company’s request; and (iii) where the Guarantor is also a Borrower, it is under no demand actual or contingent obligations as a Borrower and has been made on that Guarantor in respect of which resigned and ceased to be a payment is due Borrower under Clause 21.1 33.3 (Guarantee and indemnityResignation of a Borrower), whereupon at which time that company shall cease to be a Guarantor and shall have no further rights or obligations under the Finance Documents.

Resignation of a Guarantor. (a) The Company may request that a Guarantor (other than the Company) ceases to be a Guarantor by delivering to the Facility Agent a Resignation Letter. (b) The Facility Agent shall accept a Resignation Letter and notify the Company and the Lenders of its acceptance if: (i) that Obligor is the subject of a disposal, directly or indirectly, to a person which is not a member of the Group or the Lenders have consented to that Obligor ceasing to be a Guarantor; (ii) no Default is continuing or would result from the acceptance of the Resignation Letter (and the Company has confirmed this is the case); (ii) where the Guarantor is also a Borrower, it is under no actual or contingent obligations as a Borrower and has resigned and ceased to be a Borrower under Clause 29.3 (Resignation of a Guarantor); and (iii) no demand has been made on that (A) the relevant Guarantor in respect of which a payment is due under Clause 21.1 not required to comply with the Guarantor Coverage requirement or (Guarantee and indemnity)B) all the Lenders have consented to the Company's request, whereupon that company person shall cease to be a Guarantor Borrower and shall have no further rights or obligations under the Finance DocumentsDocuments as a Borrower.

Resignation of a Guarantor. (aA) The Company may request that a Guarantor (other than the Company) ceases to be a Guarantor by delivering to the Agent a Resignation Letter. (bB) The Agent shall accept a Resignation Letter and notify the Company and the Lenders of its acceptance if: (i1) the Company has confirmed that Obligor is the subject of a disposal, directly or indirectly, to a person which is not a member of the Group or the Lenders have consented to that Obligor ceasing to be a Guarantor; (ii) no Default is continuing or would result from the acceptance of the Resignation Letter (and the Company has confirmed this is the case); andLetter; (iii2) no demand has been made on that Guarantor in respect of which a payment is due from the Guarantor under Clause 21.1 23.1 (Guarantee and indemnityIndemnity); (3) where the Guarantor is also a Borrower, whereupon that company shall cease it is under no actual or contingent obligations as a Borrower and has resigned and ceased to be a Guarantor and shall have no further rights or obligations Borrower under the Finance Documents.Clause 30.3 (

Resignation of a Guarantor. (a) The Company may request that a Guarantor (other than the Company) ceases to be a Guarantor by delivering to the Agent a Resignation Letter. (b) The Agent shall accept a Resignation Letter and notify the Company and the Lenders of its acceptance if: (i) that Obligor is the subject of a disposal, directly or indirectly, to a person which is not a member of the Group or the Lenders have consented to that Obligor ceasing to be a Guarantor; (ii) no Default is continuing or would result from the acceptance of the Resignation Letter (and the Company has confirmed this is the case); and (iiiii) where the Guarantor is also a Borrower, it is under no demand actual or contingent obligations as a Borrower and has been made on that Guarantor in respect of which resigned and ceased to be a payment is due Borrower under Clause 21.1 28.3 (Guarantee and indemnityResignation of a Borrower), whereupon at which time that company shall cease to be a Guarantor and shall have no further rights or obligations under the Finance Documents.