Examples of Collateral Release Conditions in a sentence
The holders of the Notes agree to direct the Security Trustee to so release the Collateral, provided that the Collateral Release Conditions have been satisfied and the holders of the Notes and the Security Trustee shall have received an officer's certificate, executed by a Senior Officer and dated the Collateral Release Date, specifying that at the time of such release and after giving effect thereto, each of the Collateral Release Conditions are satisfied.
The holders of the Notes agree to direct the Security Trustee to so release the Collateral, provided that the Collateral Release Conditions have been satisfied and the holders of the Notes and the Security Trustee shall have received an officer’s certificate, executed by a Senior Officer and dated the Collateral Release Date, specifying that at the time of such release and after giving effect thereto, each of the Collateral Release Conditions are satisfied.
On or after any date on which all of the Collateral Release Conditions have been satisfied, then upon the request of the Borrower, the Administrative Agent shall promptly release all Liens on the Collateral securing the Obligations and, at the Borrowers’ sole expense, execute and deliver to the Borrower and each other Loan Party all such documents and instruments as the Borrower or such other Loan Party may request to evidence such release of the Collateral.
Without limiting the provisions of Section 8.09, the Lenders and the Issuing Banks irrevocably authorize the Administrative Agent, at its option and in its discretion, to release any Collateral from the Liens granted under the Collateral Documents and any Subsidiary Guarantor from its obligations under the Subsidiary Guaranty as provided in Section 5.02(e) and upon satisfaction of the Collateral Release Conditions.
Company shall make such request in writing and shall concurrently deliver to Agent evidence in form and substance satisfactory to Agent showing that the Collateral Release Condition set forth in clauses (i) and (ii) above has been satisfied and an Officers' Certificate certifying that each of the Collateral Release Conditions has been satisfied as of such date and that no Event of Default or Potential Event of Default has occurred and is continuing or will be caused by such release of Collateral.