Common use of Termination of Intermediate Lessee’s Status Clause in Contracts

Termination of Intermediate Lessee’s Status. The relevant Subsidiary Holdco may from time to time, upon not less than five (5) Business Days’ revocable prior written notice from such Subsidiary Holdco to the Administrative Agent, at any time and from time to time assign the Equity Interests in an Intermediate Lessee to any Person or otherwise terminate an Intermediate Lessee’s status as such, provided that such Intermediate Lessee is not party to an Intermediate Lease or a Lease or will not be at the time such transfer or other termination of such Intermediate Lessee’s status as such takes effect. If an Intermediate Lessee’s status is terminated as such, the Collateral Agent’s security interests in and Liens on the Equity Interest in such Intermediate Lessee and the obligations of such Intermediate Lessee under the Loan Documents shall be automatically released. The Collateral Agent shall promptly execute and deliver to the Borrower, at Borrower’s expense, all documents that Borrower shall reasonably request to evidence the release of the security interests in and Liens on the applicable Equity Interests, and the release of the obligations under the Loan Documents, released in accordance with the previous sentence.

Termination of Intermediate Lessee’s Status. The relevant Subsidiary Holdco FLL may from time to time, upon not less than five twenty (520) Business Daysdays’ revocable prior written notice from such Subsidiary Holdco FLL to the Administrative Agent, at any time and from time to time cause the relevant Borrower Party to assign the Equity Interests in an Intermediate Lessee to any Person that is not a Borrower Party or otherwise terminate an Intermediate Lessee’s status as such, provided that such Intermediate Lessee is not party to an Intermediate Lease or a Lease or will not be at the time of such transfer or other termination of such Intermediate Lessee’s status as such takes effect. If an Intermediate Lessee’s status is terminated as such, the Collateral Agent’s security interests in in, and Liens on on, the Equity Interest in assets of such Intermediate Lessee and the obligations Equity Collateral in respect of such Intermediate Lessee under the Loan Documents shall be automatically released. The Collateral Agent shall promptly execute and deliver to the Borrower, at the Borrower’s expense, all documents that the Borrower shall reasonably request to evidence the its release of the security interests in and Liens on on, the applicable Equity Interests, and the release of the obligations under the Loan Documents, assets released in accordance with the previous sentence.

Termination of Intermediate Lessee’s Status. The relevant Subsidiary Holdco may from time to time, upon not less than five (5) Business Days’ revocable prior written notice from such Subsidiary Holdco to the Administrative Agent, at any time and from time to time assign the Equity Interests in an Intermediate Lessee to any Person or otherwise terminate an Intermediate Lessee’s status as such, provided that such Intermediate Lessee is not party to an Intermediate Lease or a Lease or will not be at the time such transfer or other termination of such Intermediate Lessee’s status as such takes effect. If an Intermediate Lessee’s 's status is terminated as such, the Collateral Agent’s 's security interests in and Liens on the Equity Interest in such Intermediate Lessee and the obligations of such Intermediate Lessee under the Loan Documents shall be automatically released. The Collateral Agent shall promptly execute and deliver to the Borrower, at Borrower’s 's expense, all documents that Borrower shall reasonably request to evidence the release of the security interests in and Liens on the applicable Equity Interests, and the release of the obligations under the Loan Documents, released in accordance with the previous sentence.

Termination of Intermediate Lessee’s Status. The relevant Subsidiary Holdco may from time to time, upon not less than five (5) Business Days’ revocable prior written notice from such Subsidiary Holdco to the Administrative Agent, at any time and from time to time assign the Equity Interests in an Intermediate Lessee to any Person or otherwise terminate an Intermediate Lessee’s status as such, provided that such Intermediate Lessee is not party to an Intermediate Lease or a Lease or will not be at the time such transfer or other termination of such Intermediate Lessee’s status as such takes effect. If an Intermediate Lessee’s status is terminated as such, the Collateral Agent’s security interests in and Liens on on, the Equity Interest in assets of such Intermediate Lessee Lessee, and the obligations of such Intermediate Lessee in respect of Guaranteed Obligations or other obligations under the Loan Documents shall be automatically released. The Collateral Agent shall promptly execute and deliver to the Borrower, at Borrower’s expense, all documents that Borrower shall reasonably request to evidence the release of the security interests in and Liens on the applicable Equity Interestsassets, and the release of the Guaranteed Obligations and other obligations under the Loan Documents, released in accordance with the previous sentence.

Termination of Intermediate Lessee’s Status. The relevant Subsidiary Holdco Borrower may from time to time, upon not less than five twenty (520) Business Daysdays’ revocable prior written notice from such Subsidiary Holdco the Borrower to the Administrative Agent, at any time and from time to time assign the Equity Interests in an Intermediate Lessee to any Person that is not a Subsidiary of the Borrower or otherwise terminate an Intermediate Lessee’s status as such, provided that such Intermediate Lessee is not party to an Intermediate Lease or a Lease or will not be at the time such transfer or other termination of such Intermediate Lessee’s status as such takes effect. If an Intermediate Lessee’s status is terminated as such, the Collateral Agent’s security interests in in, and Liens on on, the Equity Interest in such Intermediate Lessee and the obligations assets of such Intermediate Lessee under the Loan Documents shall be automatically released. The Collateral Agent shall promptly execute and deliver to the Borrower, at the Borrower’s expense, all documents that the Borrower shall reasonably request to evidence the its release of the security interests in and Liens on on, the applicable Equity Interests, and the release of the obligations under the Loan Documents, assets released in accordance with the previous sentence.

Termination of Intermediate Lessee’s Status. The relevant Subsidiary Holdco FLL may from time to time, upon not less than five three (53) Business Days’ days' revocable prior written notice from such Subsidiary Holdco FLL to the Administrative Agent, at any time and from time to time cause the relevant Borrower Party to assign the Equity Interests in an Intermediate Lessee to any Person that is not a Borrower Party or otherwise terminate an Intermediate Lessee’s 's status as such, provided that such Intermediate Lessee is not party to an Intermediate Lease or a Lease or will not be at the time of such transfer or other termination of such Intermediate Lessee’s 's status as such takes effect. If an Intermediate Lessee’s 's status is terminated as such, the Collateral Agent’s 's security interests in in, and Liens on on, the Equity Interest in assets of such Intermediate Lessee and the obligations Equity Collateral in respect of such Intermediate Lessee under the Loan Documents shall be automatically released. The Collateral Agent shall promptly execute and deliver to the Borrower, at the Borrower’s 's expense, all documents that the Borrower shall reasonably request to evidence the its release of the security interests in and Liens on on, the applicable Equity Interests, and the release of the obligations under the Loan Documents, assets released in accordance with the previous sentence.