Common use of Agents under Security Documents and Guaranty Clause in Contracts

Agents under Security Documents and Guaranty. Each Lender hereby further authorizes Administrative Agent, on behalf of and for the benefit of Lenders, to be the agent for and representative of Lenders with respect to the Guaranty, the Collateral and the Security Documents. Subject to Section 9.5, without further written consent or authorization from Lenders, Administrative Agent may execute any documents or instruments necessary to (i) release any Lien encumbering any item of Collateral that is the subject of a sale or other disposition of assets permitted hereby (including, without limitation, any assets held by a Guarantor that is released pursuant to the following clause (ii)) or to which Requisite Lenders (or such other Lenders as may be required to give such consent under Section 9.5) have otherwise consented, (ii) release any Guarantor from its Guaranty and the Security Documents it is party to if all of the Capital Stock of such Guarantor is sold or Disposed of in a transaction permitted hereby, or with respect to which Requisite Lenders (or such other Lenders as may be required to give such consent under Section 9.5) have otherwise consented or (iii) release all of the Liens encumbering any Collateral upon a Discharge of the Obligations.