Return of Avales Clause Samples

Return of Avales. (a) The day after the Offer or Delisting Offer (as appropriate) is settled or lapses for any reason the Borrower shall issue a request or shall procure the subsidiary making the Offer or Delisting Offer (as appropriate) issues a request to the CNMV that each Aval is released to the relevant Issuing Entity. (b) If the Borrower receives an Aval from the CNMV it will deliver the relevant Aval to the Facility Agent or relevant Issuing Entity as soon as possible.