Collateral Release Date definition

Collateral Release Date has the meaning given that term in Section 8.10.(b).

Collateral Release Date has the meaning set forth in Section 5.13(a).

Collateral Release Date shall have the meaning assigned to such term in Section 9.25.

Examples of Collateral Release Date in a sentence

• Notwithstanding such release of Collateral, the provisions of Section 6.13 hereof shall continue to apply on and after the Collateral Release Date.

• Prior to the Collateral Release Date, any provision of any Security Document shall for any reason cease to be valid and binding on or enforceable against any Loan Party, or any Lien created under any Security Document ceases to be a valid and perfected first priority Lien in any of the Collateral purported to be covered thereby.

• For the avoidance of doubt, to the extent that any voluntary or mandatory prepayment has the effect of reducing the Leverage Ratio to or below 6.50 to 1.00 on a pro forma basis, the mandatory prepayment provisions applicable following a Collateral Trigger Date shall terminate (the earlier of such date and the Collateral Release Date, the “Prepayment Provisions Termination Date”).

• Upon the Collateral Release Date, the Agent shall terminate and release all Liens securing the Obligations and Hedging Liability.

• 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.

More Definitions of Collateral Release Date

Collateral Release Date means any date after the Original Effective Date on which no Default or Event of Default is continuing and one of the following events occurs: (a) Xxxxx’x issues a rating for the Index Debt of Baa3 (stable or better outlook) or higher or (b) S&P issues a rating for the Index Debt of BBB- (stable or better outlook) or higher.

Collateral Release Date means any date after a Collateral Trigger Date on which no Default or Event of Default is continuing and the Borrower delivers a Release Certificate as required by Section 8.15.

Collateral Release Date means the date on which Collateral has been released pursuant to Section 6.14(d).

Collateral Release Date means any date after the expiration of the Waiver Period on which (a) no Default or Event of Default is continuing, (b) the Borrower delivers a Collateral Release Certificate as required by Section 6.17, and (c) the Consolidated Leverage Ratio is either (i) less than or equal to 6.75 to 1.00 as of the last day of any two (2) consecutive fiscal quarters, or (ii) less than or equal to 6.25 to 1.00 as of the last day of any fiscal quarter, in each case as reflected on the most recently delivered Compliance Certificate delivered pursuant to Section 6.02(a).

Collateral Release Date means the date on which the Company (a) satisfies the Collateral Release Conditions and (b) provides written notice to the Agent requesting that the Liens on all Collateral of the Company and its Restricted Subsidiaries which are Guarantors granted to or held by the Agent (for the benefit of the Lenders) pursuant to the Collateral Documents be released.

Collateral Release Date means the date upon which the Borrower’s corporate family rating from Xxxxx’x and the corporate rating from S&P are at least Baa3 and BBB-, respectively (in each case with a stable or better outlook) and the Borrower shall have delivered to the Administrative Agent evidence of such ratings.

Collateral Release Date means the first date on which each of the following events has occurred for such date: (a) such date is at least three full Fiscal Quarters after the date on which the Term A Loans have been paid in full and the Borrower is in compliance with the financial covenants in this Agreement as in effect prior to the First Amendment Effective Date (and has irrevocably elected to have the financial covenants in this Agreement as in effect prior to the First Amendment Effective Date become effective in accordance with Section 6.09(f)); (b) the Consolidated Leverage Ratio is less than 3.5:1.0, as calculated for the most recently ended Fiscal Quarter prior to such date; (c) all holders of the Senior Notes shall simultaneously release the Collateral and all subsidiary guaranties; and (d) no Default or Event of Default shall exist on such date.