Common use of Winding up of trust Clause in Contracts

Winding up of trust. If the Security Agent, with the approval of the Facility Agent determines that (a) all of the Secured Liabilities and all other obligations secured by the Finance Documents creating the Transaction Security have been fully and finally discharged and (b) none of the Secured Parties is under any commitment, obligation or liability (actual or contingent) to make advances or provide other financial accommodation to any Obligor pursuant to the Finance Documents: (a) the trusts set out in this Agreement shall be wound up and the Security Agent shall release, without recourse or warranty, all of the Transaction Security and the rights of the Security Agent under each of the Finance Documents creating the Transaction Security; and (b) any Retiring Security Agent shall release, without recourse or warranty, all of its rights under each of the Finance Documents creating the Transaction Security.

Winding up of trust. If the Security Agent, with the approval of the Facility Agent and each Hedge Counterparty, determines that (ai) all of the Secured Liabilities Obligations and all other obligations secured by the Finance Documents creating the Transaction Security Documents have been fully and finally discharged and (bii) none of the Secured Parties is under any commitment, obligation or liability (actual or contingent) to make advances or provide other financial accommodation to any Obligor pursuant to the Finance Documents: (a) the trusts set out in this Agreement shall be wound up and the Security Agent and Secondary Security Agent shall release, without recourse or warranty, all of the Transaction Security and the rights of the Security Agent and Secondary Security Agent under each of the Finance Documents creating the Transaction SecuritySecurity Documents; and (b) any Retiring Security Agent shall release, without recourse or warranty, all of its rights under each of the Finance Documents creating the Transaction SecuritySecurity Documents.

Winding up of trust. If the Security AgentTrustee, with the approval of the Facility Agent determines that (a) all of the Secured Liabilities and all other obligations secured by the Finance Documents creating the Transaction Security Interests have been fully and finally discharged and (b) none of the Secured Parties is under any commitment, obligation or liability (actual or contingent) to make advances or provide other financial accommodation to any Obligor pursuant to the Finance Documents: (a) the trusts set out in this Agreement shall be wound up and the Security Agent Trustee shall release, without recourse or warranty, all of the Transaction Security Interests and the rights of the Security Agent Trustee under each of the Finance Documents creating the Transaction SecuritySecurity Interests; and (b) any Retiring Security Agent Trustee shall release, without recourse or warranty, all of its rights under each of the Finance Documents creating the Transaction SecuritySecurity Interests.

Winding up of trust. If the Security Agent, with the approval of the Facility Agent Majority Lenders, determines that (a) all of the Secured Liabilities Obligations and all other obligations liabilities secured by the Finance Documents creating the Transaction Security Documents have been fully and finally discharged and (b) none of the Secured Parties is under any commitment, obligation or liability (actual or contingent) to make advances or provide other financial accommodation to any Obligor pursuant to the Finance Documents: (a) : the trusts set out in this Agreement shall be wound up and the Security Agent shall release, without recourse or warranty, all of the Transaction Security and the rights of the Security Agent under each of the Finance Documents creating the Transaction SecuritySecurity Documents; and (b) and any Retiring Security Agent shall release, without recourse or warranty, all of its rights under each of the Finance Documents creating Transaction Security Documents." For these purposes, the Transaction Security.following expressions have the following meanings:

Winding up of trust. If the Security Agent, with the approval of the Facility Agent determines that (a) all of the Secured Liabilities liabilities and all other obligations secured by the Finance Documents creating the Transaction Security have been fully and finally discharged and (b) none of the Secured Parties is under any commitment, obligation or liability (actual or contingent) to make advances or provide other financial accommodation to any Transaction Obligor pursuant to the Finance Documents: (a) the trusts set out in this Agreement shall be wound up and the Security Agent shall release, without recourse or warranty, all of the Transaction Security and the rights of the Security Agent under each of the Finance Documents creating the Transaction Security; and (b) any Retiring Security Agent shall release, without recourse or warranty, all of its rights under each of the Finance Documents creating the Transaction Security.

Winding up of trust. If the Security Agent, with the approval of the Facility Agent Agent, determines that (a) all of the Secured Liabilities and all other obligations secured by the Finance Documents creating the Transaction Security Documents have been fully and finally discharged and (b) none of the Secured Parties is under any commitment, obligation or liability (actual or contingent) to make advances or provide other financial accommodation to any Obligor party to a Finance Document (other than a Finance Party) pursuant to the Finance Documents: (a) the trusts set out in this Agreement Deed shall be wound up and the Security Agent shall release, without recourse or warranty, all of the Transaction Security and the rights of the Security Agent under each of the Finance Documents creating the Transaction SecuritySecurity Documents; and (b) any Retiring Security Agent shall release, without recourse or warranty, all of its rights under each of the Finance Documents creating the Transaction SecuritySecurity Documents.