Common use of Winding up of trust Clause in Contracts

Winding up of trust. If the Security Agent, with the approval of the Agent, 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 Loan Party 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 28.16 (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 the approval of the Agent, Facility Agent 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 Loan Party Obligor 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 28.16 31.13 (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 the approval of the AgentMajority Financiers, determines that: (a) all of the Secured Obligations 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 Loan Party the Company pursuant to the Finance Documents, Transaction 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 28.16 23.13 (Resignation of the Security Agent) shall release, without recourse or warranty, all of its rights under each Transaction Security Document.

Winding up of trust. If the Security Agent, with the approval of the Agent, 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 Loan Party the Borrower 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 28.16 29.12 (Resignation of the Agent and 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 the approval of the each Note Agent, 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 Loan Party 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 28.16 clause 12.14 (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 the approval of the Agenteach Lender, determines that: (a) all of the Secured Obligations 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 Loan Party Obligor pursuant to the Finance Documents, then: (i) the trusts set out in this Agreement 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 28.16 clause 12 of this schedule 10 (Resignation of the Security Agent) shall release, without recourse or warranty, all of its rights under each Transaction Security Document.

Winding up of trust. If the Security Agent, with the approval of the Investment Agent, 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 Loan Party Obligor 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 28.16 10.15 (Resignation of the Security Agent) shall release, without recourse or warranty, all of its rights under each Transaction Security Document.

Winding up of trust. If the Security Agent, with the approval of the Agent, 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 Loan Party the Borrower 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 28.16 (Resignation of the Security Agent) clause 26.13 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 Facility Agent, determines that: (a) 27.26.1 all of the Secured Obligations and all other obligations secured by the Transaction Security Documents have been fully and finally discharged; and (b) 27.26.2 no Secured Party is under any commitment, obligation or liability (actual or contingent) to make advances or provide other financial accommodation to any Loan Party the Borrower pursuant to the Finance Documents, then: (ia) 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 (iib) any Security Agent which has resigned pursuant to Clause 28.16 27.14 (Resignation of the Security Agent) shall release, without recourse or warranty, all of its rights under each Transaction Security Document.

Winding up of trust. If the Security Agent, with the approval of the Agent, Facility Agent 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 Creditor Party is under any commitment, obligation or liability (actual or contingent) to make advances or provide other financial accommodation to any Loan Party Transaction Obligor 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 28.16 32.13 (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 the approval of the Agent, 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 Loan Party Obligor 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 28.16 30.12 (Resignation of the Agent and the Security Agent) shall release, without recourse or warranty, all of its rights under each Security Document.