Specified Releases of Collateral Sample Clauses
Specified Releases of Collateral. (a) Notwithstanding anything to the contrary in Section 12.03 hereof, Collateral may be released from the Lien and security interest created by the Collateral Agreements at any time or from time to time in accordance with the provisions of the Collateral Agreements, including any Intercreditor Agreement, or as provided hereby. Upon the request of the Issuer pursuant to an Officers’ Certificate certifying, and an Opinion of Counsel stating, that all conditions precedent hereunder have been met and without the consent of any Holder, the Issuer and the Guarantors will be entitled to releases of assets included in the Collateral from the Liens securing the obligations under this Indenture, the Notes and the Note Guarantees, and the Collateral Agent shall release the same from such Liens, under any one or more of the following circumstances:
(1) to enable the Issuer (or a Guarantor) to consummate asset sales and dispositions permitted or not prohibited under Section 4.11 hereof, in each case to a Person other than the Issuers, any New Parent, the Parent or a Guarantor; provided that such Liens will not be released if such sale or disposition is prohibited by Article 5 or such release would cause the Issuers to have to comply with Section 4.10 hereof and the Issuers are not in compliance therewith;
(2) if any Subsidiary that is a Guarantor is released from its Note Guarantee, such Subsidiary’s assets will also be released from the Liens securing the Notes and the Note Guarantee; or
(3) as set forth, and subject to the conditions stated, in Sections 8.03, 9.01 and 9.02.
(b) Upon receipt of an Officers’ Certificate and Opinion of Counsel and any necessary or proper instruments of termination, satisfaction or release prepared by the Issuers or the Guarantors, as the case may be, the Collateral Agent, without the consent of any Holder or the Trustee and at the expense of the Issuers or the Guarantors, shall execute, deliver or acknowledge such instruments or releases to evidence the release of any Collateral permitted to be released pursuant to this Indenture or the Collateral Agreements, including the Intercreditor Agreement.
Specified Releases of Collateral. Subject to Section 12.04, Collateral may be released from the Lien and security interest created by the Security Documents at any time or from time to time in accordance with the provisions of the Collateral Agreements, including the Intercreditor Agreement, or as provided hereby. Upon the request of the Company pursuant to an Officers’ Certificate certifying that all conditions precedent hereunder have been met and without the consent of any Holder, the Company and the Guarantors will be entitled to releases of assets included in the Collateral from the Liens securing the obligations under the Notes and the Guarantees under any one or more of the following circumstances:
(1) to enable the Company (or a Guarantor) to consummate asset dispositions permitted or not prohibited under Section 4.16;
(2) if any Subsidiary that is a Guarantor is released from its Guarantee; or
(3) as required pursuant to the terms of the Intercreditor Agreement. Upon receipt of such Officers’ Certificate and any necessary or proper instruments of termination, satisfaction or release prepared by the Company, the Collateral Agent shall execute, deliver or acknowledge such instruments or releases to evidence the release of any Collateral permitted to be released pursuant to this Indenture or the Collateral Agreements, including the Intercreditor Agreement.
Specified Releases of Collateral. (a) Collateral shall be released from the Liens created by the Loan Documents at any time or from time to time in accordance with the provisions of the Loan Documents or as provided in this Agreement. The Liens securing the Collateral shall be automatically released without the need for any further action by any Person under any one or more of the following circumstances:
(i) to enable the Borrowers or a Guarantor to consummate asset dispositions permitted or not prohibited under Section 7.04; or
(ii) if any Guarantor is released from its Guarantee in accordance with the terms of this Agreement (including by virtue of such Guarantor ceasing to be a Subsidiary), that Guarantor’s assets will also be released from the Liens securing its Guarantee.
(b) Upon the written request of the Borrowers accompanied by an Officer’s Certificate upon which the Collateral Agent may conclusively relay confirming that all conditions precedent hereunder and under the Loan Documents have been met and that such release is permitted by the Loan Documents, and any necessary or proper instruments of termination, satisfaction or release prepared by the Borrowers or the Guarantors, as the case may be, the Collateral Agent, without the consent of the Administrative Agent or the Lenders and at the expense of the Borrowers, shall execute, deliver or acknowledge such instruments or releases to evidence the release from the Liens created by the Loan Documents of any Collateral permitted to be released pursuant to this Agreement or the Loan Documents.
Specified Releases of Collateral. Subject to Section 14.03, the Notes Collateral Agent’s Liens on the Collateral will no longer secure the Indenture Obligations, and the right of the Holders to the benefits and proceeds of the Notes Collateral Agent’s Liens on the Collateral will terminate and be discharged, in each case, automatically and without the need for any further action by any Person:
(A) in whole, upon the full and final payment and performance of the Obligations of the Company and the Guarantors under this Indenture, the Securities and the Guarantees thereof;
(B) in whole, upon Legal Defeasance or Covenant Defeasance with respect to this Indenture pursuant to Article XII or discharge of this Indenture in accordance with Article IV;
(C) in whole or in part, as applicable, upon receipt of the consent of holders of the requisite percentage of Securities in accordance with Article IX;
(D) in part, as to any Collateral that is sold, transferred or otherwise disposed of by the Company or any Guarantor in a transaction or other circumstance made in compliance with this Indenture and the Notes Collateral Documents at the time of such sale, transfer or disposition;
(E) in whole, with respect to the Collateral owned by a Guarantor, upon the release of the Guarantee of such Guarantor in accordance with the terms of this Indenture; and
(F) in whole or in part, if and to the extent required by the provisions of the Intercreditor Agreement.
Specified Releases of Collateral. The Issuer shall be entitled to obtain a full release of all of the Collateral from the Liens of this Indenture and of the Security Documents upon compliance with the conditions precedent set forth in Article VIII for satisfaction and discharge of this Indenture or for legal defeasance of the outstanding Securities of all series pursuant to Section 8.2. Upon delivery by the Issuer to the Trustee of an Officers' Certificate and Opinion of Counsel, each to the effect that such conditions precedent have been complied with (and which may be the same Officers' Certificate and Opinion of Counsel required by Section 8.2), the Trustee, in its capacity as Collateral Agent, shall forthwith take all necessary action (at the request of and the expense of the Issuer) to release and reconvey to the Issuer all the Collateral, and shall deliver such Collateral in its possession to the Issuer including, without limitation, the execution and delivery of releases and satisfactions whenever required.
Specified Releases of Collateral. (a) Collateral shall be released from the Liens created by the Collateral Documents at any time or from time to time in accordance with the provisions of the Collateral Documents or as provided in this Indenture. The Liens securing the Collateral shall be automatically released without the need for any further action by any Person under any one or more of the following circumstances:
(i) to enable the Company or a Guarantor to consummate asset dispositions permitted or not prohibited under Section 5.10;
(ii) if any Guarantor is released from its Notes Guarantee in accordance with the terms of this Indenture (including by virtue of such Guarantor ceasing to be a Restricted Subsidiary of the Company), that Guarantor’s assets will also be released from the Liens securing its Notes Guarantee and the other Indenture Obligations;
(iii) if required in accordance with the terms of the Intercreditor Agreement;
(iv) as described under Section 13.05; or
(v) with the consent of the Holders of the Notes in accordance with Section 10.02.
Specified Releases of Collateral. Release upon Satisfaction or Defeasance of all Outstanding Obligations. Section 12.06 Form and Sufficiency of Release.
Specified Releases of Collateral. (A) Collateral shall be released from the Liens created by the Security Documents at any time or from time to time in accordance with the provisions of the Security Documents or as provided in this Indenture. The Liens securing the Collateral shall be automatically released without the need for further action by any Person under any one or more of the following circumstances:
(i) in part, as to any property that is sold, transferred, disbursed or otherwise disposed of by the Company or any Guarantor (other than to the Company or any Guarantor) in a transaction not prohibited by this Indenture and in compliance with Section 3.09 at the time of such sale, transfer, disbursement or disposition;
(ii) in whole or in part, with the consent of the Holders of the requisite percentage of Notes in accordance with the provisions in Section 8.02;
(iii) in whole with respect to the Collateral of any Guarantor, upon the release of the Guarantee of such Guarantor in accordance with this Indenture;
(iv) in whole or in part, as applicable, as to all or any portion of the Collateral which has been taken by eminent domain, condemnation or similar circumstances; and
(v) in part, in accordance with the applicable provisions of the Security Documents.
Specified Releases of Collateral. Subject to Section 12.04, Collateral may be released from the Lien and security interest created by the Collateral Agreements at any time or from time to time in accordance with the provisions of the Collateral Agreements and the Intercreditor Agreement, or as provided hereby. Upon the request of the Company pursuant to an Officers’ Certificate certifying that all conditions precedent hereunder have been met and without the consent of any Holder, the Company and the Guarantors shall be entitled to releases of assets included in the Collateral from the Liens securing the obligations under the Notes and the Guarantees under any one or more of the following circumstances:
(1) to enable the Company (or a Guarantor) to consummate asset dispositions permitted or not prohibited under Section 4.16;
(2) if any Subsidiary that is a Guarantor is released from its Guarantee; or
(3) as required pursuant to the terms of the Intercreditor Agreement.
Specified Releases of Collateral. (a) The Company shall be entitled to obtain a full release of all of the Collateral from the Security Interest upon compliance with the conditions precedent set forth in Section 8.1 for satisfaction and discharge of this Indenture pursuant to Section 8.1. Upon delivery by the Company to the Trustee of an Officers' Certificate and an Opinion of Counsel, each to the effect that such conditions precedent have been complied with (and which may be the same Officers' Certificate and Opinion of Counsel required by