Common use of Replacement of Guarantor Clause in Contracts

Replacement of Guarantor. If no Lease Default, Lease Event of Default or Event of Default shall exist at the time of either such request or such release, then following the written request of the Guarantor to the Indenture Trustee and the Certificateholders at least thirty (30) days prior to the requested date on which the Guarantor is to be released from its obligations under this Guaranty Agreement, the Guarantor shall be released from further liability under this Guaranty Agreement upon its being replaced by a Replacement Guarantor that satisfies all the conditions contained in the definition of such term set forth in Section 22.