Release of Collateral, etc Clause Samples

Release of Collateral, etc. Any release, surrender, exchange, subordination, deterioration, waste, loss or impairment (including without limitation negligent, willful, unreasonable or unjustifiable impairment) of any collateral, property or security, at any time existing in connection with, or assuring or securing payment of, all or any part of the Obligations;

Release of Collateral, etc. Any release, surrender, exchange, subordination, deterioration, waste, loss or impairment (including without limitation negligent, willful, unreasonable or unjustifiable impairment) of any collateral, property or security, at any time existing in connection with, or assuring or securing payment of, all or any part of the Liabilities;

Release of Collateral, etc. If all or any part of the Guaranteed Obligations is at any time secured, Guarantor agrees that Administrative Agent or any Lender may, at any time and from time to time in its discretion and with or without valuable consideration, allow substitution or withdrawal of collateral or other security and release collateral or other security without impairing or diminishing the liabilities or obligations of Guarantor hereunder. Guarantor further agrees that, if Borrower or any other Person executes in favor of Administrative Agent or any Lender any collateral agreement, mortgage, deed of trust, collateral assignment, security agreement or other security instrument, the exercise by Administrative Agent or any Lender of any right or remedy thereby conferred on Administrative Agent or any Lender shall be wholly discretionary with Administrative Agent and such Lender, respectively, and that the exercise or failure to exercise any such right or remedy shall in no way impair or diminish the obligation of Guarantor hereunder. Guarantor further agrees that (except to the extent prohibited by applicable law notwithstanding an agreement of the parties to the contrary) neither Administrative Agent nor any Lender shall be liable for its failure to use diligence or care in the collection of the Guaranteed Obligations, in the creation or perfection of any lien, security interest or assignment intended as security or in preserving the liability of any Person liable or obligated on the Guaranteed Obligations, and Guarantor hereby waives presentment for payment, notice of nonpayment, protest and notice thereof, and diligence in bringing suit against any Person liable on the Guaranteed Obligations or any part thereof.

Release of Collateral, etc. The obligations of the Debtor shall not be affected by the release or substitution of any collateral or by the release of or any renewal or extensions of time to any party to any instrument, obligation or liability secured hereby or to which the Debtor is a party. The Secured Party shall not be bound to resort to or exhaust its recourse or to take any action against other parties or other collateral. The Debtor hereby waives presentment, demand, protest, notice of protest and notice of non-acceptance or non-payment with respect to any indebtedness, obligation or liability secured hereby.

Release of Collateral, etc. Upon the sale, lease, transfer or other disposition of any item of Collateral of any Loan Party (including, without limitation, as a result of the sale, in accordance with the terms of the Loan Documents, of the Loan Party that owns such Collateral) in accordance with the terms of the Loan Documents, the Collateral Agent will, at the Borrower’s expense, execute and deliver to such Loan Party such documents as such Loan Party may reasonably request to evidence the release of such item of Collateral from the assignment and security interest granted under the Collateral Documents in accordance with the terms of the Loan Documents. The Administrative Agent on behalf of the Lender Parties will release any Guarantor from its obligations under the Guaranty if such Guarantor ceases to be a Subsidiary of the Borrower as a result of a transaction permitted under this Agreement and will, at the Borrower’s expense, execute and deliver to such Guarantor such documents as such Guarantor may reasonably request to evidence such release.

Release of Collateral, etc. (a) Upon (i) Final Payment and (ii) termination of the Revolving Loan Commitment and the Letter of Credit Commitment, the Collateral shall be released from the Liens created hereby, and this Agreement and all obligations (other than those expressly stated to survive such termination) of Bank and Borrowers hereunder shall terminate, all without delivery of any instrument or performance of any act by any party. At the request and sole expense of Borrowers following any such termination, Bank shall deliver to Borrowers any Collateral held by Bank hereunder, and execute and deliver to Borrowers such documents as Borrowers shall reasonably request to evidence such termination. (b) If any of the Collateral shall be sold, transferred or otherwise disposed of by any Borrower in a transaction permitted hereunder, then Bank, at the request and sole expense of Borrowers, shall execute and deliver to Borrowers all releases or other documents reasonably necessary or desirable for the release of the Liens created hereby on such Collateral. (c) The foregoing provisions of this Section 13.23 are expressly subject to the terms of Section 13.21 above.

Release of Collateral, etc. The Loan Documents shall not have been amended to release all or substantially all of the Collateral, to subordinate the Collateral Agent’s Liens on the Collateral or to release any Borrower or Guarantor from its Obligations under the Loan Documents. Without limiting the foregoing, it is understood and agreed that upon the written request from Borrowers to the L/C Issuer and subject to satisfaction of all conditions contained in Section 5.02, all or part of the outstanding letters of credit issued under the L/C Facility shall be deemed issued under this Agreement and shall constitute Letters of Credit for all purposes under this Agreement and the other Loan Documents.”

Release of Collateral, etc. The obligations of Pledgor hereunder shall not be affected by the release or substitution of any Collateral or by the release of or any renewal or extensions of time to any party to any instrument, obligation or liability secured hereby. Bank shall not be bound to resort to or exhaust its recourse or to take any action against other parties or other collateral. Beyond the exercise of reasonable care to assure the safe custody of the Collateral while held hereunder, Bank shall have no duty or liability to preserve rights pertaining thereto and shall be relieved of all responsibility for the Collateral upon surrendering it or tendering surrender of it to Pledgor.

Release of Collateral, etc. (a) Subject to paragraphs (b), (c) and (d) of this Section 10.3, Collateral may be released from the Lien and security interest created by this Indenture and the Security Documents at any time or from time to time upon the request of the Company pursuant to an Officers' Certificate certifying that all terms for release and conditions precedent hereunder and under any applicable Security Document have been met and specifying (i) the identity of the Collateral to be released and (ii) the provision of this Indenture or the Security Document that authorizes such release. The Trustee shall release (at the sole cost and expense of the Company) (i) the Capital Stock of Coast West and the assets of Coast West (including the Coast West Lease) in the event that Coast Resorts or Coast West elects to effect such a release and repays to the Company in cash the aggregate amount of any Indebtedness owed to the Company by Coast West as of the date of such release, (ii) Equipment included in clause (iv) of the definition of Excluded Assets set forth in the Security Agreement and the Rancho Road Property in the event that the Company elects to effect such a release in connection with the incurrence of additional Indebtedness secured by such assets in accordance with the provisions of this Indenture; including, without limitation, the requirement that the net proceeds from such transaction, if any, are or will be applied in accordance with this Indenture and that no Default or Event of Default has occurred and is continuing or would occur immediately following such release; (iii) Collateral that is condemned, seized or taken by the power of eminent domain or otherwise confiscated pursuant to an Event of Loss; provided that the Net Proceeds, if any, from such Event of Loss are or will be applied in accordance with Section 4.10 hereof; (iv) Collateral that may be released with the consent of Holders pursuant to Article 9 hereof; (v) all Collateral (except as provided in Article 8 hereof and, in particular, the funds in the trust fund described in Section 8.4 or 8.7 hereof) upon discharge or defeasance of this Indenture in accordance with Article 8 hereof; (vi) all Collateral upon the payment in full of all obligations of the Company with respect to the Notes; (vii) the assets and Capital Stock and related Collateral of a Guarantor whose Note Guarantee is released pursuant to Section 11.5 hereof; (viii) Collateral that is being sold, leased, conveyed or otherwise disposed of, p...