Common use of Release or Subordination of Liens Clause in Contracts

Release or Subordination of Liens. The Collateral Trustee will not release or subordinate any Lien of the Collateral Trustee or consent to the release or subordination of any Lien of the Collateral Trustee, except: (a) as directed by an Act of Parity Lien Debtholders accompanied by an Officers’ Certificate to the effect that the release or subordination was permitted by each applicable Parity Lien Document and otherwise satisfying the requirements of Section 4.1(b)(1) and 4.1(b)(2); (b) as required by Article 4; (c) to release or subordinate Liens on Collateral to the extent permitted by each applicable Parity Lien Document; provided that the Collateral Trustee receives an Officers’ Certificate confirming the foregoing; (d) as ordered pursuant to applicable law under a final and nonappealable order or judgment of a court of competent jurisdiction; or (e) for the subordination of the Trust Estate and the Parity Liens to the extent required by the Intercreditor Agreement; provided that the Collateral Trustee receives an Officers’ Certificate confirming the foregoing.

Release or Subordination of Liens. The Collateral Trustee will not release or subordinate any Parity Lien of the Collateral Trustee or consent to the release or subordination of any Parity Lien of the Collateral Trustee, except: (a) as directed in writing by an Act of Parity Lien Debtholders accompanied by an Officers’ Certificate and an Opinion of Counsel to the effect that the release or subordination was permitted by each applicable Parity Lien Document and otherwise satisfying setting forth the requirements of Section 4.1(b)(1) and 4.1(b)(24.1(c)(2); (b) as required by Article 4; (c) to release or subordinate Liens on Collateral to the extent permitted by each applicable Parity Lien Document; provided that the Collateral Trustee receives an Officers’ Certificate and an Opinion of Counsel confirming the foregoing; (d) as ordered pursuant to applicable law under a final and nonappealable order or judgment of a court of competent jurisdiction; or (e) for the subordination of the Trust Estate and the Parity Liens to the extent required by the Intercreditor Agreement; provided that the Collateral Trustee receives an Officers’ Certificate confirming the foregoing.

Release or Subordination of Liens. The Collateral Trustee will not release or subordinate any Lien of the Collateral Trustee or consent to the release or subordination of any Lien of the Collateral Trustee, except: (a) as directed by an Act of Parity Third Lien Debtholders accompanied by an Officers’ Certificate to the effect that the release or subordination was permitted by each applicable Parity Third Lien Document and otherwise satisfying setting forth the requirements of Section 4.1(b)(1) and 4.1(b)(2); (b) as required by Article 4; (c) to release or subordinate Liens on Collateral to the extent permitted by each applicable Parity Third Lien Document; provided that the Collateral Trustee receives an Officers’ Certificate confirming the foregoing; (d) as ordered pursuant to applicable law under a final and nonappealable order or judgment of a court of competent jurisdiction; or (e) for the subordination of the Trust Estate and the Parity Third Liens to the extent required by the Intercreditor Agreement; provided that the Collateral Trustee receives an Officers’ Certificate confirming the foregoing.

Release or Subordination of Liens. The Collateral Trustee will not release or subordinate any Lien of the Collateral Trustee or consent to the release or subordination of any Lien of the Collateral Trustee, except: (a) as directed by an Act of Parity Lien Debtholders accompanied by an Officers’ Certificate to the effect that the release or subordination was permitted by each applicable Parity Lien Document and otherwise satisfying setting forth the requirements of Section 4.1(b)(1) and 4.1(b)(2); (b) as required by Article 4; (c) to release or subordinate Liens on Collateral to the extent permitted by each applicable Parity Lien Document; provided that the Collateral Trustee receives an Officers’ Certificate confirming the foregoing; (d) as ordered pursuant to applicable law under a final and nonappealable order or judgment of a court of competent jurisdiction; or (e) for the subordination of the Trust Estate and the Parity Liens to the extent required by the Intercreditor Agreement; provided that the Collateral Trustee receives an Officers’ Certificate confirming the foregoing.

Release or Subordination of Liens. The Collateral Trustee will not release or subordinate any Lien of the Collateral Trustee or consent to the release or subordination of any Lien of the Collateral Trustee, except: (a) as directed by an Act of Parity Lien Debtholders accompanied by an Officers’ Certificate to the effect that the release or subordination was permitted by each applicable Parity Lien Document Document, and otherwise satisfying setting forth the requirements of Section 4.1(b)(1Sections 4.1(b)(i) and 4.1(b)(24.1(b)(ii); (b) as required by Article 4; (c) to release or subordinate Liens on Collateral to the extent permitted by each applicable Parity Lien Document; provided that the Collateral Trustee receives an Officers’ Certificate confirming the foregoing; (d) as ordered pursuant to applicable law under a final and nonappealable order or judgment of a court of competent jurisdiction; or (e) for the subordination of the Trust Estate and the Parity Liens to the extent required by the Intercreditor Agreement; provided that the Collateral Trustee receives an Officers’ Certificate confirming the foregoing.

Release or Subordination of Liens. The Collateral Trustee will not release or subordinate any Lien of the Collateral Trustee or consent to the release or subordination of any Lien of the Collateral Trustee, except: (a) as directed by an Act of Parity Lien Debtholders accompanied by an Officers’ Certificate to the effect that the release or subordination was permitted by each applicable Parity Lien Document and otherwise satisfying the requirements of Section 4.1(b)(1) and 4.1(b)(2); (b) as required by Article 4; (c) to release or subordinate Liens on Collateral to the extent permitted by each applicable Parity Lien Document; provided that the Collateral Trustee receives an Officers’ Certificate and, with respect to releasing Liens, an Opinion of Counsel confirming the foregoing; (d) as ordered pursuant to applicable law under a final and nonappealable order or judgment of a court of competent jurisdiction; or (e) for the subordination of the Trust Estate and the Parity Liens to the extent required by the Intercreditor Agreement; provided that the Collateral Trustee receives an Officers’ Certificate confirming the foregoing.

Release or Subordination of Liens. The Collateral Trustee will not release or subordinate any Lien of the Collateral Trustee or consent to the release or subordination of any Lien of the Collateral Trustee, except: (a) as directed by an Act of Parity Lien Debtholders accompanied by an Officers’ Certificate to the effect that the release or subordination was permitted by each applicable Parity Lien Document and otherwise satisfying setting forth the requirements of Section 4.1(b)(14.1(b)(i) and 4.1(b)(24.1(b)(ii); (b) as required by Article 4; (c) to release or subordinate Liens on Collateral to the extent permitted by each applicable Parity Lien Document; provided that the Collateral Trustee receives an Officers’ Certificate confirming the foregoing; (d) as ordered pursuant to applicable law under a final and nonappealable order or judgment of a court of competent jurisdiction; or (e) for the subordination of the Trust Estate and the Parity Liens to the extent required by the Intercreditor Agreement; provided that the Collateral Trustee receives an Officers’ Certificate confirming the foregoing.

Release or Subordination of Liens. The Collateral Trustee will not release or subordinate any Parity Lien of the Collateral Trustee or consent to the release or subordination of any Parity Lien of the Collateral Trustee, except: (a) as directed by an Act of Parity Lien Debtholders accompanied by an Officers’ Certificate to the effect that the release or subordination was permitted by each applicable Parity Lien Document and otherwise satisfying setting forth the requirements of Section 4.1(b)(1) and 4.1(b)(24.1(c)(2); (b) as required by Article 4; (c) to release or subordinate Liens on Collateral to the extent permitted by each applicable Parity Lien Document; provided that the Collateral Trustee receives an Officers’ Certificate confirming the foregoing; (d) as ordered pursuant to applicable law under a final and nonappealable order or judgment of a court of competent jurisdiction; or (e) for the subordination of the Trust Estate and the Parity Liens to the extent required by the Intercreditor Agreement; provided that the Collateral Trustee receives an Officers’ Certificate confirming the foregoing.

Release or Subordination of Liens. The Collateral Trustee will not release or subordinate any Parity Lien of the Collateral Trustee or consent to the release or subordination of any Parity Lien of the Collateral Trustee, except: (a) as directed by an Act of Parity Lien Debtholders accompanied by an Officers’ Certificate to the effect that the release or subordination was permitted by each applicable Parity Lien Document and otherwise satisfying setting forth the requirements of Section 4.1(b)(1) and 4.1(b)(2); (b) as required by Article 4; (c) to release or subordinate Liens on Collateral to the extent permitted by each applicable Parity Lien Document; provided that the Collateral Trustee receives an Officers’ Certificate confirming the foregoing; (d) as ordered pursuant to applicable law under a final and nonappealable order or judgment of a court of competent jurisdiction; or (e) for the subordination of the Trust Estate and the Parity Liens to the extent required by the Intercreditor Agreement; provided that the Collateral Trustee receives an Officers’ Certificate confirming the foregoing.

Release or Subordination of Liens. The Collateral Trustee will not release or subordinate any Lien of the Collateral Trustee or consent to the release or subordination of any Lien of the Collateral Trustee, except: (a) as directed by an Act of Parity Lien Debtholders accompanied by an Officers’ Certificate to the effect that the release or subordination was permitted by (x) prior to the Discharge of First-Out Obligations, the Parity Lien Documents evidencing the First-Out Obligations and (y) thereafter, each applicable Parity Lien Document Document, and otherwise satisfying setting forth the requirements of Section 4.1(b)(1Sections 4.1(b)(i) and 4.1(b)(24.1(b)(ii); (b) as required by Article 4; (c) to release or subordinate Liens on Collateral to the extent permitted by each applicable Parity Lien Document; provided that the Collateral Trustee receives an Officers’ Certificate confirming the foregoing; (d) as ordered pursuant to applicable law under a final and nonappealable order or judgment of a court of competent jurisdiction; or (e) for the subordination of the Trust Estate and the Parity Liens to the extent required by the Intercreditor Agreement; provided that the Collateral Trustee receives an Officers’ Certificate confirming the foregoing.