Release of Liens in Respect of Notes. (a) In addition to and subject to the terms of the Collateral Agency and Intercreditor Agreement, the Collateral Agent’s Liens upon the Collateral will no longer secure the Notes and the Note Guarantees or any other obligations under this Indenture, and the right of the Holders to the benefits and proceeds of the Collateral Agent’s Liens on the Collateral will terminate and be discharged:
(1) upon satisfaction and discharge of this Indenture as set in Article 12 hereof;
(2) upon a Legal Defeasance or Covenant Defeasance of the Notes as set forth in Article 8 hereof;
(3) upon payment in full and discharge of all Notes outstanding under this Indenture and all Obligations that are outstanding, due and payable under this Indenture at the time the Notes are paid in full and discharged; or
(4) with respect to all or substantially all of the Collateral, with the consent of the Holders of the requisite percentage of Notes in accordance with Section 9.02 hereof and upon delivery of instructions and any other documentation, in each case as required by this Indenture, in a form satisfactory to the Collateral Agent. If the Collateral Agent is releasing Liens in accordance with the provisions of this Indenture or any Security Document and if the Company has delivered the certificates and documents required by this Indenture and the Security Documents, then the Trustee will execute and deliver such additional documents and instruments as the Company and the Guarantors may reasonably request to evidence such release without the further consent of the Holders. All actions taken pursuant to the provisions described in the foregoing provisions of this Section 10.03 will be at the sole cost and expense of the Company and the applicable Guarantor.
Release of Liens in Respect of Notes. In addition to any release pursuant to Section 4.1 hereof, the Collateral Trustee’s Parity Liens will no longer secure the Notes outstanding under the Indenture or any other Obligations under the Note Documents, and the right of the holders of the Notes to the benefits and proceeds of the Collateral Trustee’s Parity Liens on the Collateral will terminate and be discharged upon written certification to that effect delivered by the Trustee to the Collateral Trustee in connection with a release under the Indenture.
Release of Liens in Respect of Notes. The Collateral Trustee’s Liens upon the Collateral will no longer secure the Notes outstanding under this Indenture or any other Obligations under this Indenture, and the right of the Holders and such Obligations to the benefits and proceeds of the Collateral Trustee’s Liens on the Collateral will terminate and be discharged:
(1) upon the satisfaction and discharge of this Indenture, in accordance with Article XI hereof;
(2) upon a Legal Defeasance or Covenant Defeasance of the Notes in accordance with Article VIII hereof;
(3) upon payment in full and discharge of all Notes outstanding under this Indenture and all Obligations that are outstanding, due and payable under this Indenture at the time the Notes are paid in full and discharged;
(4) in whole or in part, with the consent of the Holders of the requisite percentage of the Notes in accordance with Article IX hereof; or
(5) with respect to the assets of any Guarantor, at the time such Guarantor is released from its Note Guarantee in accordance with Section 10.04.
Release of Liens in Respect of Notes. The Collateral Trustee’s Lien will no longer secure the Notes outstanding under the Indenture or any other Obligations under the Indenture, and the right of the holders of the Notes and such Obligations to the benefits and proceeds of the Collateral Trustee’s Lien on the Collateral will terminate and be discharged:
(a) upon satisfaction and discharge of the Indenture as set forth under Article 11 of the Indenture;
(b) upon a Legal Defeasance or Covenant Defeasance of the Notes as set forth under Article 8 of the Indenture;
(c) upon payment in full and discharge of all Notes outstanding under the Indenture and all Obligations that are outstanding, due and payable under the Indenture at the time the Notes are paid in full and discharged;
(d) in whole or in part, with the consent of the holders of the requisite percentage of Notes in accordance with Article 9 of the Indenture; or
(e) if applicable, as and when required in accordance with the Intercreditor Agreement.
Release of Liens in Respect of Notes. The indenture and the Collateral Trust Agreement will provide that the Collateral Trustee’s Liens upon the Collateral will no longer secure the notes outstanding under the indenture or any other Obligations under the indenture, and the right of the holders of the notes and such Obligations to the benefits and proceeds of the Collateral Trustee’s Liens on the Collateral will terminate and be discharged:
Release of Liens in Respect of Notes. The Indenture and the Security Documents provide that the Liens upon the Collateral will no longer secure the Notes outstanding under the Indenture or any other Obligations under the Indenture, and the right of the holders of the Notes and such Obligations to the benefits and proceeds of the Liens on the Collateral will terminate and be discharged:
(1) upon satisfaction and discharge of the Indenture as set forth under "Description of the Senior Secured Notes — Satisfaction and Discharge";
(2) upon payment in full and discharge of all Notes outstanding under the Indenture and all Obligations that are then outstanding, due and payable under the Indenture at the time the Notes are paid in full and discharged;
(3) in whole or in part, with the consent of the holders of the requisite percentage of Notes in accordance with the provisions described below under "Description of the Senior Secured Notes — Amendment, Supplement and Waiver"; or
(4) by the Collateral Agent in connection with any enforcement of the Liens.
Release of Liens in Respect of Notes. The Holders authorize the Notes Collateral Agent to release or subordinate Liens upon the Collateral in accordance with, and as required by, the Security Agreement and the Intercreditor Agreements, and to take any further action and enter into any documentation to evidence the release or subordination of such Lien in accordance with the Security Agreement and the Intercreditor Agreements.
Release of Liens in Respect of Notes. The indenture will provide that the collateral agent’s Parity Liens upon the Collateral will no longer secure the notes outstanding under the indenture or any other Obligations under the Note Documents, and the right of the Holders and such Obligations to the benefits and proceeds of the collateral agent’s Parity Liens on the Collateral will terminate and be discharged:
Release of Liens in Respect of Notes. The Collateral Trustee’s Liens on the Collateral on behalf of the Holders of the Notes will no longer secure the Notes outstanding under the Indenture or any other Obligations under the Indenture or other Note Documents, and the right of Holders of the Notes and such Obligations to the benefits and proceeds of the Collateral Trustee’s Liens on the Collateral will terminate and be discharged:
(1) upon satisfaction and discharge of the Indenture as set forth under Article 8 hereof;
(2) upon a Legal Defeasance or Covenant Defeasance of the Notes as set forth under Article 8 hereof;
(3) upon payment in full and discharge of all Notes outstanding under the Indenture and of all Obligations that are outstanding, due and payable under the Indenture at the time the Notes are paid in full and discharged; or
(4) in whole or in part, with the consent of the Holders of the requisite percentage of Notes in accordance with Section hereof. In addition, the Collateral Trustee’s Liens on the Collateral may be released as provided in the Collateral Trust Agreement, the ABL Intercreditor Agreement or the PP&E Pari Passu Intercreditor Agreement.
Release of Liens in Respect of Notes. The Collateral Agent’s Lien will no longer secure the Notes outstanding under the Indenture or any other Secured Obligations, and the right of the Securityholders to the benefits and proceeds of the Collateral Agent’s Lien on the Collateral will terminate and be discharged:
(a) upon satisfaction and discharge of the Indenture as set forth under Section 8.01 of the Indenture; or
(b) upon payment in full and discharge of all Secured Obligations that are outstanding, due and payable under the Indenture at the time the Notes are paid in full and discharged.
