Collateral Termination Date Sample Clauses
Collateral Termination Date. Provided no Default or Event of Default shall have occurred and be continuing (or would exist immediately after giving effect to the transactions contemplated by this Section 5.12(c)), the Administrative Agent shall release the Collateral for the Obligations, promptly upon the request of Parent Borrower subject to the following terms and conditions: (any date of such release, a “Collateral Termination Date”):
(i) no Default or Event of Default exists before and after giving effect thereto;
(ii) Parent Borrower shall deliver to the Administrative Agent with such request a Compliance Certificate setting forth in reasonable detail the calculations evidencing compliance (on a pro forma basis) with the financial covenants set forth in Section 5.02(a) (Total Leverage Ratio), (b) (Fixed Charge Coverage Ratio), (d) (Secured Leverage Ratio), (e) (Secured Recourse Indebtedness Limitation), and (l) (Unsecured Interest Coverage Ratio), in each case, that would be applicable after giving effect to the requested Collateral Termination Date;
(iii) all Bridge Loans shall have been paid in full;
(iv) all release documents and related escrow arrangements to be executed by the Administrative Agent shall be in form and substance reasonably satisfactory to the Administrative Agent; and
(v) Borrower shall pay all reasonable out-of-pocket costs and expenses of the Administrative Agent in connection with such release, including without limitation, reasonable and documented outside attorneys’ fees. The Administrative Agent shall notify Borrowers and the Lenders of the occurrence of the Collateral Termination Date.
Collateral Termination Date. Upon any Collateral Termination Date and until the occurrence of a subsequent Collateral Effective Date:
(a) The pledges and grants of security interests pursuant to the Pledge Agreements, and the covenants and other agreements contained therein, shall no longer be effective and otherwise cease and be of no further force and effect;
(b) The Collateral Agent shall, at the expense of the Borrower, (i) return all items described in Section 7.13 to the applicable Credit Party and (ii) execute and deliver such Uniform Commercial Code termination statements to evidence the termination described in clause (a) above; and
(c) the representation and warranty set forth on Schedule 7.13 no longer shall be deemed to be included in this Agreement.
Collateral Termination Date. Section 11.20 of the Credit Agreement is deleted in its entirety.
Collateral Termination Date. Section 1.1 of the Credit Agreement is amended to delete the definition of "Collateral Termination Date" set forth therein in its entirety.
Collateral Termination Date