Common use of Further, the Administrative Agent Clause in Contracts

Further, the Administrative Agent. may (and is hereby irrevocably authorized by each Lender to), upon the request of the Borrower, release any Subsidiary Guarantor from its obligations under the Guaranty if such Subsidiary Guarantor is no longer a Restricted Subsidiary or becomes an Excluded Subsidiary or is otherwise not required pursuant to the terms of this Agreement to provide the Guaranty, provided that an existing Subsidiary Guarantor shall not be released from its Guaranty and shall not be considered an Excluded Subsidiary solely as a result of such Subsidiary Guarantor becoming a non-Wholly-Owned Subsidiary if as a result of (A) a Disposition or issuance of Equity Interests of such Subsidiary Guarantor, in either case, to a person that is an Affiliate of the Borrower or (B) any transaction entered into primarily for the purpose of such Subsidiary Guarantor ceasing to constitute a Subsidiary Guarantor.