Common use of Winding up of trust Clause in Contracts

Winding up of trust. If the Security Agent, with the approval of the Majority Lenders, determines that: (a) all of the Secured Obligations and all other obligations secured by the Security Documents have been fully and finally discharged; and (b) no Secured Party is under any commitment, obligation or liability (actual or contingent) to make advances or provide other financial accommodation to any Obligor or BHL pursuant to the Finance Documents, then: (i) 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 Security Documents; and (ii) any Security Agent which has resigned pursuant to Clause 26.13 (Resignation of the Security Agent) shall release, without recourse or warranty, all of its rights under each Security Document.

Winding up of trust. If the Security Agent, with Trustee (acting on the approval instructions of the Majority Lenders, ) determines that: (a) all of the Secured Obligations obligations of the Obligors under the Credit Agreement and all other obligations secured by the Security Documents have been fully and finally discharged; and (b) no Secured Finance Party is under any commitment, obligation or liability (actual or contingent) to make advances or provide other financial accommodation to any Transaction Obligor or BHL pursuant to the Finance Loan Documents, then: (i) 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 Collateral and the rights of the Security Agent Trustee under each of the Security Documents; and (ii) any Security Agent Trustee which has resigned pursuant to Clause 26.13 Section 16.13 (Resignation of the Security AgentTrustee) shall release, without recourse or warranty, all of its rights under each Security Document.

Winding up of trust. If the Security AgentTrustee, with the approval of each of the Majority LendersRepresentatives and each Hedge Counterparty, determines that: that (a) all of the Secured Obligations and all other obligations secured by the Security Documents have been fully and finally discharged; and discharged and (b) no none of the Secured Party Parties is under any commitment, obligation or liability (actual or contingent) to make advances or provide other financial accommodation to any Obligor or BHL Debtor pursuant to the Finance Debt Documents, then: (ia) 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 and the rights of the Security Agent Trustee under each of the Security Documents; and (iib) any Retiring Security Agent which has resigned pursuant to Clause 26.13 (Resignation of the Security Agent) Trustee shall release, without recourse or warranty, all of its rights under each of the Security DocumentDocuments.

Winding up of trust. If the Security Agent, with the approval of the Majority Lenderseach Senior Creditor, determines that: (a) all of the Secured Obligations Liabilities and all other obligations secured by the Security Documents have been fully and finally discharged; and (b) no Secured Party is under any commitment, obligation or liability (actual or contingent) to make advances or provide other financial accommodation to any Obligor or BHL Debtor pursuant to the Finance Debt Documents, then: (i) the trusts set out in this Agreement shall be wound up and the Security Agent shall release, without representation, recourse or warranty, all of the Transaction Security and the rights of the Security Agent under each of the Security DocumentsDocuments (other than any provision expressed to survive termination or discharge); and (ii) any Security Agent which has resigned pursuant to Clause 26.13 16.12 (Resignation of the Security Agent) shall release, without representation, recourse or warranty, all of its rights under each Security DocumentDocument (other than any provision expressed to survive termination or discharge).

Winding up of trust. If the Security AgentTrustee, with the approval of the Majority Lenders, determines that: (a) all of the Secured Obligations secured liabilities and all other obligations secured by the Security Documents have been fully and finally discharged; and (b) no Secured Party is under any commitment, obligation or liability (actual or contingent) to make advances or provide other financial accommodation to any Obligor or BHL pursuant to the Finance Documents, then: (i) 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 relevant Security Interests and the rights of the Security Agent Trustee under each of the Security Documents; and (ii) any Security Agent Trustee which has resigned pursuant to Clause 26.13 25.13 (Resignation of the Security an Agent) shall release, without recourse or warranty, all of its rights under each of the Security DocumentDocuments.

Winding up of trust. If the Security AgentTrustee, with the approval of each of the Majority LendersAgents and each Hedging Counterparty, determines that: that (a) all of the Secured Obligations and all other obligations secured by the Security Documents have been fully and finally discharged; and discharged and (b) no none of the Secured Party Parties is under any commitment, obligation or liability (actual or contingent) to make advances or provide other financial accommodation to any Obligor or BHL pursuant to the Finance Documents, then: (ia) 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 and the rights of the Security Agent Trustee under each of the Security Documents; and (iib) any Retiring Security Agent which has resigned pursuant to Clause 26.13 (Resignation of the Security Agent) Trustee shall release, without recourse or warranty, all of its rights under each of the Security DocumentDocuments.

Winding up of trust. If the Security AgentTrustee, with the approval of the Majority Lenders, determines that: that (a) all of the Secured Obligations and all other obligations secured by any of the Security Documents have been fully and finally discharged; and discharged and (b) no none of the Secured Party Parties is under any commitment, obligation or liability (actual or contingent) to make advances or provide other financial accommodation to any Obligor or BHL pursuant to the Finance Documents, then: (i) 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 and the rights of the Security Agent Trustee under each of the Security Documents; and (ii) , and any Security Agent Trustee which has resigned pursuant to Clause 26.13 28.25 (Resignation of the Security AgentTrustee) shall release, without recourse or warranty, all of its rights under each Security Document.

Winding up of trust. If the Security Agent, with the approval of the Majority Lenders, determines that: (a) all of the Secured Obligations Liabilities and all other obligations secured by the Transaction Security Documents have been fully and finally discharged; and (b) no Secured Party is under any commitment, obligation or liability (actual or contingent) to make advances or provide other financial accommodation to any Transaction Obligor or BHL pursuant to the Finance Documents, then: (i) 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 Transaction Security Documents; and (ii) any Security Agent which has resigned pursuant to Clause 26.13 25.13 (Resignation of the Agent and the Security Agent) shall release, without recourse or warranty, all of its rights under each of the Transaction Security DocumentDocuments.

Winding up of trust. If the Security Agent, with the approval of the Majority Lenderseach Creditor Representative and each Hedge Counterparty, determines that: (a) all of the Secured Obligations and all other obligations secured by the Security Documents have been fully and finally discharged; and (b) no Secured Party is under any commitment, obligation or liability (actual or contingent) to make advances or provide other financial accommodation to any Obligor or BHL Debtor pursuant to the Finance Debt Documents, then: (i) 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 Security Documents; and (ii) any Security Agent which has resigned pursuant to Clause 26.13 20.14 (Resignation of the Security Agent) shall release, without recourse recourse, representation, warranty or warrantyliability, all of its rights under each Security Document.

Winding up of trust. If the Security Agent, with the approval of the Majority Lenders, Facility Agent determines that: (a) all of the Secured Obligations Liabilities and all other obligations secured by the Security Finance Documents have been fully and finally discharged; and (b) no Secured Party is under any commitment, obligation or liability (actual or contingent) to make advances or provide other financial accommodation to any Transaction Obligor or BHL an Approved Manager pursuant to the Finance Documents, then: (i) 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 Security Finance Documents; and (ii) any Security Agent which has resigned pursuant to Clause 26.13 30.13 (Resignation of the Security Agent) shall release, without recourse or warranty, all of its rights under each Security Finance Document.