Common use of Releases of Subsidiary Guarantees Clause in Contracts

Releases of Subsidiary Guarantees. In the event of (i) a sale --------------------------------- or other disposition of all of the assets of any Guarantor, by way of merger, consolidation or otherwise, (ii) a sale or other disposition of all of the capital stock of any Guarantor or (iii) a distribution of all of the capital stock of any Guarantor to stockholders of the Company in a transaction that complies with the provisions of Section 8.2 hereof, such Guarantor (in the event of a sale or other disposition, by way of such a merger, consolidation, distribution or otherwise, of all of the capital stock of such Guarantor) or the corporation acquiring the property (in the event of a sale or other disposition of all of the assets of such Guarantor) will be released and relieved of any obligations under its Subsidiary Guarantee; provided that the Net Proceeds of such sale or other disposition shall be applied in accordance with the provisions of Section 8.5 hereof. Any Guarantor not released from its obligations under its Subsidiary Guarantee shall remain liable for the full amount of principal of and interest on the Notes and for the other obligations of any Guarantor under this Agreement as provided in this Section 14.

Releases of Subsidiary Guarantees. In the event of (i) a sale --------------------------------- or other disposition of all of the assets of any Subsidiary Guarantor, by way of merger, consolidation or otherwise, otherwise or (ii) a sale or other disposition of all of the capital stock Capital Stock of any Subsidiary Guarantor or (iii) a distribution of all of the capital stock of any Guarantor to stockholders of the Company in each case in a transaction that complies with the provisions of Section 8.2 hereofthis Agreement, such Subsidiary Guarantor (in the event of a sale or other disposition, by way of such a merger, consolidation, distribution or otherwise, of all of the capital stock Capital Stock of such Subsidiary Guarantor) or the corporation acquiring the property (in the event of a sale or other disposition of all of the assets of such Subsidiary Guarantor) will be released and relieved of any obligations Obligations under its Subsidiary Guarantee; provided that the Net Proceeds net proceeds of such sale or other disposition shall be applied in accordance with the provisions of Section 8.5 7.7 hereof. Any Subsidiary Guarantor not released from its obligations Obligations under its Subsidiary Guarantee shall remain liable for the full amount of principal of and interest on the Notes and for the other obligations Obligations of any Subsidiary Guarantor under this Agreement as provided in this Section 1410.