Collateral and Guarantee Release Date definition
Examples of Collateral and Guarantee Release Date in a sentence
Notwithstanding anything in any Loan Document to the contrary, on, or no later than ten (10) Business Days after the Collateral and Guarantee Release Date, the Administrative Agent shall file or cause to be filed all Mortgage releases with respect to each Mortgaged Property and otherwise provide written evidence to the Lead Borrower of the release of each Mortgage and the suspension of the terms of Section 5.5(d).
Without limiting the foregoing, upon the reasonable request of the Administrative Agent prior to the Collateral and Guarantee Release Date, the Lead Borrower shall cause to be delivered mortgage modifications and title endorsements with respect to each Mortgaged Property, each in form and substance reasonably satisfactory to the Administrative Agent.
At any time prior to the Collateral and Guarantee Release Date, if the Administrative Agent reasonably determines that it is required by applicable law to have appraisals prepared in respect of the Mortgaged Property of any Loan Party, the Lead Borrower shall cooperate with the Administrative Agent to obtain appraisals that satisfy the applicable requirements of the Real Estate Appraisal Reform Amendments of FIRREA.
To the extent the representations and warranties contained in this Section 3.14 are made prior to the Collateral and Guarantee Release Date: On the Fourth Restatement Effective Date, no Subsidiary of Holdings other than a Loan Party Guarantees any Indebtedness for borrowed money (other than Permitted Indebtedness) of Holdings, the Lead Borrower and/or any other Loan Party in an aggregate principal amount in excess of $150,000,000.
To the extent the representations and warranties contained in this Section 3.12 are made prior to the Collateral and Guarantee Release Date: (a) Schedule 3.12(a) sets forth as of the Fourth Restatement Effective Date a list of all Subsidiaries and Excluded Subsidiaries other than inactive Subsidiaries, and the percentage ownership (directly or indirectly) of Holdings therein.
This Guaranty shall be binding upon each Guarantor and its successors and assigns and shall inure to the benefit of the Bank Creditors and their successors and permitted assigns and, so long as the Collateral and Guarantee Release Date has not occurred, the Other Creditors.
Each of Holdings, Safari (solely to the extent on or after the Collateral and Guarantee Release Date) and the Borrower will, and will cause each Restricted Subsidiary to, pay its obligations in respect of Taxes before the same shall become delinquent or in default, except where the failure to make payment could not reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect.
Each of Holdings, Safari (solely to the extent on or after the Collateral and Guarantee Release Date) and the Borrower will, and will cause each Restricted Subsidiary to, comply with its Organizational Documents and all Requirements of Law with respect to it or its property, except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect.
After the exercise of remedies provided for in Section 7.01, subject to any applicable Intercreditor Agreement, the Collateral Agent shall apply the proceeds of any collection or, prior to the Collateral and Guarantee Release Date, sale of Collateral, including any Collateral consisting of cash, as follows.
Each of Holdings and, Safari (solely to the extent on or after the Collateral and Guarantee Release Date) and the Borrower will use commercially reasonable efforts to cause (a) the Borrower to continuously have a public corporate credit rating from each of S&P and ▇▇▇▇▇’▇ (but not to maintain a specific rating) and (b) the credit facilities made available under this Agreement to be continuously rated by each of S&P and ▇▇▇▇▇’▇ (but not to maintain a specific rating).