Release of Note Collateral. (a) Subject to subsections (b), (c) and (d) of this Section 10.03, upon a sale of any Note Collateral and application of the net proceeds of such sale to repay the Notes to the extent required in accordance with the terms of Section 3.08, the Collateral Agent shall release the security interests in favor of the Collateral Agent in the Note Collateral sold; provided, however, that such net proceeds have been or shall be applied in accordance with this Indenture and the Senior Note Indenture; provided further that, prior to the application of such net proceeds, such net proceeds shall be deposited in an interest bearing cash collateral account held by the Paying Agent and pledged for the benefit of the Holders of Notes and the holders of Senior Notes.
Release of Note Collateral. (a) The Indenture Trustee may, and when required by the provisions of this Indenture shall, execute instruments to release property from the lien of this Indenture, or convey the Indenture Trustee's interest in the same, in a manner and under circumstances that are not inconsistent with the provisions of this Indenture. No party relying upon an instrument executed by the Indenture Trustee as provided in this Article VIII shall be bound to ascertain the Indenture Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
Release of Note Collateral. Subject to Section 11.01, the Indenture Trustee shall release property from the lien of this Indenture only as specified in Section 8.02(d) or upon receipt of an Issuer Request accompanied by an Officer's Certificate, an Opinion of Counsel and Independent Certificates in accordance with TIA Sections 314(c) and 314(d)(l) or an Opinion of Counsel in lieu of such Independent Certificates to the effect that the TIA does not require any such Independent Certificates.
Release of Note Collateral. 59 SECTION 8.05.
Release of Note Collateral. (a) Subject to the provisions of this Section 10.03, Note Collateral may be released from the Lien and security interest created by the Collateral Documents at any time or from time to time in accordance with the provisions of the Collateral Documents or as provided hereby.
Release of Note Collateral. (a) Subject to the Intercreditor Agreement, the Collateral Agent shall not at any time release Note Collateral from the security interests created by the Collateral Documents unless such release is in accordance with Section 12.04(b), 12.04(d), 12.05, 12.06, or 12.11.
Release of Note Collateral. (a) So long as the Note Issuer is not in default hereunder and no Default hereunder would occur as a result of such action, the Note Issuer, through the Servicer, may collect, sell or otherwise dispose of written-off receivables, at any time and from time to time in the ordinary course of business, without any notice to, or release or consent by, the Indenture Trustee, but only as and to the extent permitted by the Basic Documents; provided, however, that any and all proceeds of such dispositions shall become Note Collateral and be deposited to the General Subaccount immediately upon receipt thereof by the Note Issuer or any other Person, including the Servicer. Without limiting the foregoing, the Servicer, may, at any time and from time to time without any notice to, or release or consent by, the Indenture Trustee, sell or otherwise dispose of any Note Collateral which is part of a Xxxx previously written-off as a defaulted or uncollectible account in accordance with the terms of the Servicing Agreement and the requirements of the proviso in the immediately preceding sentence.
Release of Note Collateral. Subject to Section 11.01, the Indenture Trustee shall release property from the Lien of this Indenture only as specified in Section 8.02(d) or Section 8.04 or upon receipt of an Issuer Request accompanied by an Officer's Certificate, an Opinion of Counsel and Independent Certificates in accordance with TIA ss.ss.314(c) and 314(d)(l) or an Opinion of Counsel in lieu of such Independent Certificates to the effect that the TIA does not require any such Independent Certificates.
Release of Note Collateral. (a) The Indenture Trustee may, and when required by the provisions of this Indenture shall, execute instruments to release property from the Lien of this Indenture, or convey the Indenture Trustee's interest in the same, in a manner and under circumstances that are not inconsistent with the provisions of this Indenture. No party relying upon an instrument executed by the Indenture Trustee as provided in this Article VIII shall be bound to ascertain the Indenture Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.
Release of Note Collateral. (a) Subject to paragraphs (b), (c) and (d) of this Section 10.03, Note Collateral may be released from the Lien and security interest created by this Indenture and the Collateral Documents at any time or from time to time, and except with respect to clause (viii) of the immediately following sentence, 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 Collateral Document have been met and specifying (i) the identity of the Note Collateral to be released and (ii) the provision of this Indenture that authorizes such release. The Trustee shall release (at the sole cost and expense of the Company) (i) the Casino Magic-Bossier City Hotel, including the real property on which it is to be built, in the event that the Company elects to effect such a release in connection with the incurrence of additional Indebtedness secured by such property in accordance with the provisions of Section 4.09; including, without limitation, the requirement that the proceeds from incurring such Indebtedness be used to finance the construction of the Casino Magic-Bossier City Hotel, that no Default or Event of Default has occurred and is continuing or would occur immediately following such release and that the Reciprocal Easement Agreement substantially in the form attached hereto as Exhibit U has been fully executed, including, without limitation all consents from mortgages required by such reciprocal Easement Agreement; (ii) the Crescent City Riverboat shall be released in the event that the Company elects to effect such a release in connection with the sale of the Crescent City Riverboat in accordance with the provisions of Section 4.10; including, without limitation, the requirement that the net proceeds from such transaction, 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) Note Collateral that is to be sold pursuant to Section 4.10 herein in an Asset Sale; PROVIDED that the Net Proceeds, from such Asset Sale are or will be applied in accordance with Section 4.10 hereof and that no Default or Event of Default has occurred and is continuing or would occur immediately following such release; (iv) Note Collateral that is condemned, seized or taken by the power of eminent domain or otherwise confiscated pursuant to an Event of Loss; PRO...
