Common use of Release or Subordination of Liens Clause in Contracts

Release or Subordination of Liens. The Collateral Agent will not release or subordinate any Lien of the Collateral Agent or consent to the release or subordination of any Lien of the Collateral Agent, except: (a) as directed by a Securityholder Instruction accompanied by an Officers’ Certificate to the effect that the release or subordination was permitted by each applicable Operative Agreement; (b) as required or permitted by Section 2.02 , Section 5.03 or Article VI; and (c) as ordered pursuant to applicable law under a final (after any applicable appeals to the extent such order has been stayed) order or judgment of a court of competent jurisdiction.

Release or Subordination of Liens. The Collateral Agent Trustee will not release or subordinate any Lien of the Collateral Agent Trustee or consent to the release or subordination of any Lien of the Collateral AgentTrustee, except: (a) as directed by a Securityholder Instruction accompanied an Act of Required Secured Parties (but only upon receipt by the Collateral Trustee of an Officers’ Certificate to the effect that the release or subordination was permitted by each applicable Operative AgreementParity Lien Document); (b) as required or permitted by Section 2.02 , Section 5.03 or Article VI; andthe Intercreditor Agreements; (c) as required by Article 4; or (d) as ordered pursuant to applicable law under a final (after any applicable appeals to the extent such order has been stayed) and nonappealable order or judgment of a court of competent jurisdiction.

Release or Subordination of Liens. The Collateral Agent will not release or subordinate any Lien of the Collateral Agent or consent to the release or subordination of any Lien of the Collateral Agent, except: (a) as directed by a Securityholder Instruction accompanied an Act of Required Secured Parties (but only upon receipt by the Collateral Agent of an Officers’ Certificate to the effect that the release or subordination was permitted by each applicable Operative AgreementParity Lien Document); (b) as required or permitted by Section 2.02 , Section 5.03 or Article VI; andthe Intercreditor Agreements; (c) as required by Article 4; or (d) as ordered pursuant to applicable law under a final (after any applicable appeals to the extent such order has been stayed) and nonappealable order or judgment of a court of competent jurisdiction.

Release or Subordination of Liens. The Collateral Agent will not release or subordinate any Priority Lien of the Collateral Agent or consent to the release or subordination of any Priority Lien of the Collateral Agent, except: (a) as directed by a Securityholder Instruction the Controlling Priority Lien Representative accompanied by an Officers’ Officer’s Certificate to the effect stating that the release or subordination was permitted by each applicable Operative AgreementPriority Lien Document and otherwise setting forth the requirements of Section 4.1(b)(1) and 4.1(b)(2); (b) as required or permitted by Section 2.02 , Section 5.03 or Article VI4; andor (c) as ordered pursuant to applicable law under a final (after any applicable appeals to the extent such order has been stayed) and nonappealable order or judgment of a court of competent jurisdiction.

Release or Subordination of Liens. The Collateral Agent Trustee will not release or subordinate any Lien of the Collateral Agent Trustee granted under any Security Document or consent to the release or subordination of any Lien of the Collateral AgentTrustee granted under any Security Document, except: : (a) solely with respect to subordination, as directed by a Securityholder Instruction an Act of Required Secured Parties accompanied by an Officers’ Officer’s Certificate to the effect that the release or subordination was permitted by each applicable Operative Agreement; Secured Debt Document; (b) as required or permitted by Section 2.02 , Section 5.03 or Article VIV; and (c) as ordered pursuant to applicable law under a final (after any applicable appeals to the extent such order has been stayed) and nonappealable order or judgment of a court of competent jurisdiction; or (d) as permitted by Section 2.7(b) or Section 3.7(a) in connection with a DIP Financing. or (e) as required by the Intercreditor Agreement.

Release or Subordination of Liens. The Collateral Agent Trustee will not release or subordinate any Lien of the Collateral Agent Trustee or consent to the release or subordination of any Lien of the Collateral AgentTrustee, except: (a) as directed by a Securityholder Instruction an Act of Parity Lien Debtholders accompanied by an Officers’ Certificate to the effect that the release or subordination was permitted by each applicable Operative AgreementParity Lien Document and otherwise setting forth the requirements of Section 4.1(b)(1) and (b)(2); (b) as required or permitted by Section 2.02 , Section 5.03 or Article VI; and4; (c) as ordered pursuant to applicable law under a final (after any applicable appeals to the extent such order has been stayed) and nonappealable order or judgment of a court of competent jurisdiction; or (d) for the subordination of the Trust Estate and the Parity Liens to the extent required by the Intercreditor Agreement.

Release or Subordination of Liens. The Collateral Agent Trustee will not release or subordinate any Lien of the Collateral Agent Trustee or consent to the release or subordination of any Lien of the Collateral AgentTrustee, except: (a) solely with respect to subordination of the Liens on the Collateral, as directed by a Securityholder Instruction (x) the Controlling Representatives or (y) an Act of Required Secured Parties, in each case, accompanied by an Officers’ Officer’s Certificate to the effect that the release or subordination was permitted by each applicable Operative AgreementSecured Debt Document; (b) as required or permitted by Section 2.02 , Section 5.03 or Article VI; and4; (c) as ordered pursuant to applicable law under a final (after any applicable appeals to the extent such order has been stayed) and nonappealable order or judgment of a court of competent jurisdiction; or (d) for the subordination of the Junior Trust Estate and the Parity Liens to the Senior Trust Estate and the Priority Liens.

Release or Subordination of Liens. The Collateral Agent Trustee will not release or subordinate any Lien of the Collateral Agent Trustee or consent to the release or subordination of any Lien of the Collateral AgentTrustee , except: (a) as directed by a Securityholder Instruction an Act of Required Pari Passu Lien Secured Parties accompanied by an Officers’ Certificate to the effect that the release or subordination was permitted by each applicable Operative AgreementPari Passu Lien Document; (b) as required or permitted by Section 2.02 , Section 5.03 or Article VI4; andor (c) as ordered pursuant to applicable law under a final (after any applicable appeals to the extent such order has been stayed) and nonappealable order or judgment of a court of competent jurisdiction.

Release or Subordination of Liens. The Collateral Agent Trustee will not release or subordinate any Lien of the Collateral Agent Trustee or consent to the release or subordination of any Lien of the Collateral AgentTrustee, except: (a) as directed by a Securityholder Instruction an Act of Required Debtholders accompanied by an Officers’ Officer’s Certificate to the effect that the release or subordination was permitted by each applicable Operative AgreementSecured Debt Document and all conditions precedent to such release or subordination have been satisfied; (b) as required or permitted by Section 2.02 , Section 5.03 or Article VI4; andor (c) as ordered pursuant to applicable law under a final (after any applicable appeals to the extent such order has been stayed) and nonappealable order or judgment of a court of competent jurisdiction.