Obligation to Release Sample Clauses
The Obligation to Release clause requires one party to formally discharge the other from certain duties, claims, or liabilities under specified conditions. In practice, this clause may be triggered upon the completion of contractual obligations, settlement of disputes, or fulfillment of payment terms, ensuring that no further claims can be made regarding the released matters. Its core function is to provide legal certainty and finality by preventing future disputes over issues that have already been resolved or settled.
Obligation to Release. (i) If at any time the Investment Grade Ratings Criteria is satisfied and a Collateral Period is not then in effect (a release under this Section 8.15(a) effected pursuant to this clause (i), the “Investment Grade Release”) or (ii) on or after any Collateral Release Date and no subsequent Collateral Trigger Date has occurred (a release under this Section 8.15(a) effected pursuant to this clause (ii), a “Collateral Release”), and, in each case, so long as no Default or Event of Default is then continuing, the Administrative Agent shall, subject to the satisfaction of the requirements of Section 8.15(b), promptly release all of (A) with respect to a Collateral Release, the Liens granted to the Administrative Agent pursuant to the requirements of Section 8.14 and the Collateral Documents and (B) the Subsidiary Guarantors (other than any Unsecured Indebtedness Subsidiary (except an Unsecured Indebtedness Subsidiary that solely has obligations under the Loan Documents and any Unsecured Indebtedness in respect of which such Subsidiary Guarantor shall be released as a borrower or guarantor or other obligor substantially concurrently with the release hereunder)) from their obligations under the Guaranty. Upon the release of any Person and/or any Collateral pursuant to this Section 8.15, the Administrative Agent shall (to the extent applicable) deliver to the Borrower, upon the Borrower’s request and at the Borrower’s expense, such documentation as may be reasonably satisfactory to the Administrative Agent and otherwise necessary or advisable to evidence the release of such Person and/or such Collateral from its obligations under the Loan Documents.
Obligation to Release. On or after any Collateral Release Date, and so long as no Default or Event of Default is then continuing and no subsequent Collateral Trigger Date has occurred, the Administrative Agent shall, subject to the satisfaction of the requirements of Section 8.15.(b), promptly release all of (i) the Liens granted to the Administrative Agent pursuant to the requirements of Section 8.14. and the Collateral Documents and (ii) the Subsidiary Guarantors (other than any Unsecured Indebtedness Subsidiary (except an Unsecured Indebtedness Subsidiary that solely has obligations under the Loan Documents and any Unsecured Indebtedness in respect of which such Subsidiary Guarantor shall be released as a borrower or guarantor or other obligor substantially concurrently with the release hereunder)) from their obligations under the Guaranty (the “Guarantor and Collateral Release”). Upon the release of any Person and/or any Collateral pursuant to this Section 8.15., the Administrative Agent shall (to the extent applicable) deliver to the Company, upon the Company’s request and at the Company’s expense, such documentation as may be reasonably satisfactory to the Administrative Agent and otherwise necessary or advisable to evidence the release of such Person and/or such Collateral from its obligations under the Loan Documents.
Obligation to Release. (i) On or after any Subsidiary Guarantor Release Date, and so long as no Default or Event of Default is then continuing and no subsequent Subsidiary Guarantor Trigger Date has occurred, the Administrative Agent shall, subject to the satisfaction of the requirements of Section 7.14.(b)(i), promptly release all of the applicable Subsidiary Guarantors from their obligations under the Guaranty (the “Subsidiary Guarantor Release”). Upon the release of any Person pursuant to this Section 7.14.(a)(i), the Administrative Agent shall (to the extent applicable) deliver to the Company, upon the Company’s request and at the Company’s expense, such documentation as may be reasonably satisfactory to the Administrative Agent and otherwise necessary or advisable to evidence the release of such Person from its obligations under the Loan Documents.
Obligation to Release. So long as no Default or Event of Default has occurred and is continuing or would result therefrom, upon either (i) the Collateral Release Date or (ii) to the extent necessary to permit consummation of any transaction permitted by this Agreement (and in accordance with this Agreement, including Section 2.11), the Administrative Agent shall, subject to the satisfaction of the requirements of Section 5.13(b), promptly release (or instruct the Collateral Agent to release) the Liens granted to the Administrative Agent (or the Collateral Agent) on the applicable Covenant Waiver Period Collateral and the Collateral Documents related thereto (the “Covenant Waiver Period Collateral Release”). Upon the release of any Covenant Waiver Period Collateral pursuant to this Section 5.13(a), the Administrative Agent shall (to the extent applicable) deliver to the Borrower (or instruct the Collateral Agent to deliver), upon the Borrower’s request and at the Borrower’s expense, such documentation as may be reasonably satisfactory to the Administrative Agent and otherwise necessary or advisable to evidence the release of such Covenant Waiver Period Collateral from its obligations under the Loan Documents. The Lenders authorize the Administrative Agent and/or the Collateral Agent to effect such Lien releases.><