Common use of Specified Releases of Collateral Clause in Contracts

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.

Appears in 2 contracts

Samples: Indenture (Hanover Compressor Co /), Hanover Compressor Co /

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Specified Releases of Collateral. (a) The Issuer Issuers and the Subsidiary Guarantors shall be entitled to obtain a full release of all of the Collateral from the Liens Lien of this Indenture and of the Security Documents upon compliance with the conditions precedent set forth in Article VIII Section 8.01 for satisfaction and discharge of this Indenture or for legal defeasance of the outstanding Securities of all series Legal Defeasance pursuant to Section 8.28.01. Upon delivery by the Issuer Issuers 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 Section 8.2Article Eight), the Trustee, in its capacity as Collateral Agent, Trustee shall forthwith take all necessary action (at the request of and the expense of the IssuerIssuers) to release and reconvey to the Issuer relevant Person all of the Collateral, and shall deliver such Collateral in its possession to the Issuer Issuers, including, without limitation, the execution and delivery of releases and satisfactions whenever wherever required.

Appears in 1 contract

Samples: Canadian Abraxas Petroleum LTD

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Specified Releases of Collateral. (a) The Issuer Issuers and the Subsidiary Guarantors shall be entitled to obtain a full release of all of the Collateral from the Liens Lien of this Indenture and of the Security Documents upon compliance with the conditions precedent set forth in Article VIII Section 8.01 for satisfaction and discharge of this Indenture or for legal defeasance of the outstanding Securities of all series Legal Defeasance or Covenant Defeasance pursuant to Section 8.28.01. Upon delivery by the Issuer Issuers 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 Section 8.2Article Eight), the Trustee, in its capacity as Collateral Agent, Trustee shall forthwith take all necessary action (at the request of and the expense of the IssuerIssuers) to release and reconvey to the Issuer relevant Person all of the Collateral, and shall deliver such Collateral in its possession to the Issuer Issuers, including, without limitation, the execution and delivery of releases and satisfactions whenever wherever required.

Appears in 1 contract

Samples: Supplemental Indenture (Canadian Abraxas Petroleum LTD)

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