Common use of Concerning the Collateral Clause in Contracts

Concerning the Collateral. Each of the Lenders and the L/C Issuers hereby directs, in accordance with the terms hereof, the Agent to release any Lien held by the Agent for the benefit of the Lenders and the L/C Issuers against any part of the Collateral sold or disposed of by a Credit Party if such sale or disposition is permitted by this Agreement and so long as no Default or Event of Default has occurred and is continuing, the Agent agrees to release such Collateral promptly after the Borrower's request therefor. Each of the Lenders and the L/C Issuers hereby directs the Agent to execute and deliver or file such termination and partial release statements and do such other things as are necessary to release Liens to be released pursuant to this Section 4.11 promptly upon effectiveness of any such release and so long as no Default or Event of Default has occurred and is continuing, the Agent agrees to execute and deliver or file such termination and partial release statements and do such other things as are necessary to release such Liens, at the Borrower's request, upon or promptly after the Borrower's request therefor.

Concerning the Collateral. Each of the Lenders and the L/C Issuers hereby directs, in accordance with the terms hereof, the Agent to release any Lien held by the Agent for the benefit of the Lenders and the L/C Issuers against any part of the Collateral sold or disposed of by a Credit Party if such sale or disposition is permitted by this Agreement and so long as no Default or Event of Default has occurred and is continuing, the Agent agrees to release such Collateral promptly after the BorrowerBorrower Representative's request therefor. Each of the Lenders and the L/C Issuers hereby directs the Agent to execute and deliver or file such termination and partial release statements and do such other things as are necessary to release Liens to be released pursuant to this Section 4.11 promptly upon effectiveness of any such release and so long as no Default or Event of Default has occurred and is continuing, the Agent agrees to execute and deliver or file such termination and partial release statements and do such other things as are necessary to release such Liens, at the BorrowerBorrower Representative's request, upon or promptly after the BorrowerBorrower Representative's request therefor.